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HomeMy WebLinkAboutTIF2 2015-11-09 Minutes MINUTES OF THE TIF BOARD MEETING FOR REINVESTMENT ZONE #2 OF THE CITY OF NORTH RICHLAND HILLS, TEXAS BOARD OF DIRECTORS MEETING — COUNCIL WORK ROOM AT CITY HALL MONDAY, NOVEMBER 9, 2015 - 5:15 P.M. Present: Oscar Trevino, Chairman Mayor David Whitson Council Member Rita Wright Oujesky Council Member Scott Turnage Council Member Tim Welch Council Member Tito Rodriguez Council Member Rebecca Barksdale Precinct Administrator for Commissioner Gary Fickes, Northeast SubCourthouse, Precinct#3 Mark McClendon Tarrant County College Absent: Scott Rule Tarrant County Hospital District Others Present: Mark Hindman City Manager Karen Bostic Assistant City Manager Paulette Hartman Assistant City Manager Chief Perdue Director of Public Safety George Staples City Attorney Kent Austin Director of Finance Marrk Callier Management Assistant Craig Hulse Director of Economic Development Kristin James Assistant to City Manager 1. CALL TO ORDER Mayor Trevino called the meeting to order at 5.15 p.m. 2. APPROVE MINUTES OF THE APRIL 28, 2014 REINVESTMENT ZONE NUMBER 2 BOARD MEETING Council member Welch moved to approve the minutes. Council member Wright Oujesky seconded the motion. Motion to approve carried 8-0. 3. CONSIDER APPOINTMENT OF VICE-CHAIR AND SECRETARY TO THE TAX INCREMENT REINVESTMENT ZONE NUMBER 2 Council member Whitson nominated Rita Wright Oujesky to serve as Vice Chair and Tim Welch to serve as Secretary. Council member Rodriguez seconded the motion. Motion to approve carried 8-0. 4. DISCUSS AND ACCEPT TAX INCREMENT REINVESTMENT ZONE NUMBER 2 2014 ANNUAL REPORT Kent Austin, Director of Finance, presented the 2014 TIF No. 2 Annual Report. Total revenues for fiscal year 2014 is $2.98 million. Fund expenditures which include principal interest and related charges are $2.6 million. Outstanding debt as of September 30, 2014 is $26.74 million. The bottom half of the report displays the original appraised value of the TIF, current value and the captured increment giving the basis for the amount billed to each participating entity. In response to a question from Council member Welch's Mr. Hindman informed the Board the County and Hospital District are capped at a dollar amount instead of years. Staff will research when that amount would be reached. Based on conservative growth it is anticipated to fully fund the project plan by 2022 or 2023. Council member Wright Oujesky moved to accept TIF No. 2 2014 Annual Report. Council member Turnage seconded the motion. Mayor Trevino commented the TIF No. 2 is a healthy TIF and considering the completion of the County and the other participant's participation it will be finished in a timely manner. Motion to approve carried 8-0. 5. DISCUSS AND CONSIDER APPROVAL TO ENLARGE THE BOUNDARIES AND AMEND THE PROJECT PLAN OF TIF NO. 2 Mr. Hindman advised the Board the last remaining project within the TIF is the Performing Arts Center, a TCC project. The College identified their preference for the facility to be located in conjunction with their campus from the original location based on the size and scope of the project that was under design and the needs of TCC. A reason for the request was they will be using it not only as a Performing Arts Center but also for instructional training. There is concern for safety for students walking across Boulevard 26 over to the other location. One other reason provided was to be able to leverage their resources and assets by locating it on campus. The college submitted a formal request to enlarge the boundaries of the TIF and to clarify the definition as a performing arts center. Kent Austin informed the Board the TIF project plan and boundaries could be amended by an ordinance prepared by the City Attorney accompanied by the metes and bounds description. A narrative description of the change in the nature of the facility from the conference center to a visual, technical and performing arts center is provided along with a map showing how the TIF would be expanded to encompass the NRH portion of the Tarrant County Northeast campus. An additional 43'/2 acres would be added with no financial impact of the TIF because it is all non-taxable property. The project plan is $8.23 million for this project. Council member Wright Oujesky moved to enlarge the boundaries and amend the project plan of TIF No. 2. Council member Turnage seconded the motion. Discussion: Mayor Trevino thanked the Board and TCC for meeting with the City's Council Committee and making this come together. He thanked Erma's leadership bringing this through fruition with the help of the TCC Board. Mark McClendon commented the Board was also very thankful for the treatment and dialog with Council and staff. They were also very impressed with the flexibility and good conversation. Motion to approve carried 8-0. Mayor Trevino adjourned the meeting at 5.29 p.m.