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HomeMy WebLinkAboutTIF1 2013-04-22 Minutes MINUTES OF THE TIF BOARD MEETING FOR REINVESTMENT ZONE #1 OF THE CITY OF NORTH RICHLAND HILLS, TEXAS BOARD OF DIRECTORS MEETING — COUNCIL WORKROOM AT CITY HALL MONDAY, APRIL 22, 2013 - 4:00 P.M. Present: Oscar Trevino, Chairman Mayor John Lewis Council Member Tim Welch Council Member David Whitson Council Member Scott Turnage Council Member Dolores Webb Birdville I.S.D. Carolyn Sims Precinct Administrator for Commissioner Gary Fickes, Northeast SubCourthouse, Precinct #3 Absent: Scott Rule Tarrant County Hospital District Dr. Larry Darlage Tarrant County College Other Staff Present: Mark Hindman City Manager Karen Bostic Assistant City Manager Jared Miller Assistant City Manager Jimmy Perdue Director of Public Safety Mike Curtis Managing Director Vickie Loftice Managing Director Larry Koonce Director of Finance John Pitstick Director of Planning & Development Craig Hulse Director of Economic Development Kristin James Assistant to City Manager 1. CALL TO ORDER Mayor Trevino called the meeting to order at 4:02 p.m. 2. APPROVAL OF October 13, 2009 BOARD MINUTES Dolores Webb moved to approve the minutes. David Whitson seconded the motion. Motion to approve carried 7 -0. 3. APPOINTMENT OF VICE -CHAIR AND SECRETARY David Whitson nominated Dolores Webb to serve as Vice Chairman. Scott Turnage seconded the motion. Motion to approve carried 7 -0. Tim Welch nominated Tito Rodriquez to serve as Secretary. Scott Turnage seconded the motion. Motion to approve carried 7 -0. 4. DISCUSS AND APPROVE TIF NO. 1 AND TIF NO. 1A 2012 ANNUAL REPORT Larry Koonce, Director of Finance, provided an overview of the TIF No. 1 and TIF No. 1A Annual Report. Taxes in the amount of $249,114 were received from property owners in fiscal year 2012. Outstanding principal and interest on the Certificates totaled $284,251. Principal, interest and associated payments totaled $57,274 for fiscal year 2012, and the end of the year cash balance is estimated at $1,752,010. Property values as of February 2013 were $13,429,571, a growth of about $12 million. Original estimates were $5.4 million in growth. Since 1998 the TIF has grown $13.4 million. In 2008 the TIF1A expansion was estimated a growth of $3 million per year but there has actually been a loss of nearly $12 million. Each one of the taxing entities approved their agreement to participate in the expansion (TIF No. 1A). Since TIF No. 1 and 1A are combined there will be enough money to pay off existing debt. Another $2.5 million in additional debt can be issued to finish off the existing TIF No. 1A expansion projects. Carolyn Sims arrived at 4:06 p.m. Mayor Trevino stated with approximately five years left on the TIF the new Municipal Complex and new middle school should help spur development along the corridor and help to recoup some of the $12 million loss in property value in TIF No. 1A. Councilman Turnage moved to approve TIF No. 1 and TIF No. 1A 2012 Annual Report. Councilman Whitson seconded the motion. Motion to approve carried 7 -0. 5. Update on TIF No. 1 Expansion Projects Director of Planning & Development, John Pitstick, updated the Board on the projects. Mr. Pitstick presented an area map outlining the TIF expansion area in relation to BISD administrative offices, the JPS Clinic, Tarrant County Sub - courthouse, Tarrant County College campus and the new City Hall. The key change in the 2009 plan of $3.5 million to the current plan is to reduce it to $3 million in completing the two intersections and burying the utilities between the two intersections. As stated in the annual reports, when the recession hit some of the value was lost in the TIF. It is the opinion of Staff the burial of the Quik Trip utilities will be an incentive to other development to bury utilities extending all the way down Boulevard 26. The plan also includes all new street lights and connecting all of the businesses with underground utilities for approximately .8 miles. Funds are also in the budget to replace existing signs with new monument signs. There will still be improvements made with new crosswalks and signal lights at the intersections of Rufe Snow and Glenview. Mayor Trevino requested an update on the progress. Mike Curtis, Managing Director of Development Services, advised the Board the project was moving forward although it is not visible. Progress is being made with TXDOT and is in the review process with engineering issues being worked out. The City is still following the branding but it is being conformed to TXDOT criteria's. Signs will be replaced with the approved color of green on the North Richland Hills side and the City will be getting with Richland Hills for the timing of placement. Ms. Webb asked about Richland Hills participation in the project concerning signage and the burial of utilities. Mr. Curtis stated there is an interlocal resolution where both the Cities had agreed to participate in the project. He advised a few of the property owners do not agree a new sign and being connected with underground utilities is an even trade. Greg VanNieuwenhuize, Engineer, and Craig Hulse, Director of Economic Development, are coordinating the easements. Mr. Hulse stated Walker Construction, North Richland Baptist and the Liberty Bank are all under agreement. All property owners are positive concerning improvements. Item for informational purposes only. 6. ADJOURNMENT Mayor Trevino adjourned the meeting at 4:19 p.m.