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Home My WebLink AboutTIF2 2021-10-11 Minutes MINUTES CITY OF NORTH RICHLAND HILLS, TEXAS TAX INCREMENTREINVESTMENT ZONE NO. 2 BOARD OF DIRECTORS MEETING 4301 CITY POINT DRIVE – COMMUNITY ROOM NORTH RICHLAND HILLS, TX 76180 MONDAY, OCTOBER 11, 2021 - 5:05 P.M. Present: Mayor, North Richland Hills Oscar Trevino, Chair Councilmember, North Richland Hills Mason Orr Councilmember, North Richland Hills SuzyCompton Councilmember, North Richland Hills Rita Wright Oujesky Councilmember, North Richland Hills Tito Rodriguez Precinct Administrator for Commission Gary Fickes, Rebecca Barksdale Northeast Sub Courthouse, Precinct #3 Chief Operating Officer, Tarrant County College Susan Alanis Absent: Councilmember, North Richland Hills Scott Turnage Vice President Chief Innovation & Transformation Mark Hallman Officer, Tarrant County Hospital District, Others Present: Councilmember Kelvin Deupree President, Birdville I.S.D. Joe Tolbert City Manager Mark Hindman Deputy City Manager Paulette Hartman Assistant City Manager Karen Manila Director of Planning Clayton Comstock City Attorney Maleshia McGinnis Director of Finance Mark Mills Assistant Director of Finance Glenn Mizell Director of Economic Development Craig Hulse Assistant to the City Manager Billy Owens City Secretary / Chief Governance Officer Alicia Richardson Public Information Officer Mary Peters Police Captain Jeff Garner A. CALL TO ORDER Chairman Oscar Trevino called the meeting to order at 5:21 p.m. B.1 CITZEN PRESENTATION No Citizen Presentations were made at this time. B.2 PUBLIC COMMENTS The following persons made comments to the Board. 1. Bill Gietema, Arcadia Realty Corporation, 3500 Maple Avenue #1165, Dallas, TX 75219, spoke in support of the Artisan Theatre and their proposal to build a Multi- Use Event and Performing Arts Center adjacent to the NRH Centre and NRH Library. Mr. Gietema also presented a brief history of the Hometown development in North Richland Hills showing the proposed sites of the Performing Arts Center as proposed in the TIF Project Plan. 2. Steve Koons, Hometown HOA Board representative, 6054 Lake Way Mews, North Richland Hills, TX 76180, spoke in support of the Artisan Theatre and their proposal to build a Multi-Use Event and Performing Arts Center adjacent to the NRH Centre and NRH Library. C.1 APPROVE MINUTES OF THE JUNE 27, 2016 TAX INCREMENT REINVESTMENT ZONE NO. 2 BOARD MEETING Rita Wright Oujesky moved to approve the minutes. Tito Rodriguez seconded the motion. The motion to approve carried 7-0. C.2 CONSIDER THE APPOINTMENT OF A VICE-CHAR AND SECRETARY FOR TAX INCREMENT REINVESTMENT ZONE NO. 2 Director of Finance Mark Mills made a brief presentation on the composition and duties of each TIF Board Officer. The chair is appointed by the North Richland Hills City Council for a one-year term. Mayor Trevino was appointed as Chair at the January 25, 2021 City Council meeting. The TIF Board appoints the Vice-Chair and Secretary, each for a two- year term. Presently, the previous Vice-Chair was Rita Wright Oujesky and the previous Secretary is vacant. Bylaws state appointments are for two year terms each. A motion was made by Mason Orr to appoint Suzy Compton as Vice-Chair and Rita Wright Oujesky as Secretary. Board Member Susan Alanis seconded the motion. The motion to approve carried 7-0. C.3 DISCUSS AND ACCEPT TAX INCREMENT REINVESTMENT ZONE NO. 2 ANNUAL REPORTS FOR 2016, 2017, 2018, 2019 AND 2020 Director of Finance Mark Mills made a brief presentation on the annual reports for each year listed. Since the Board’s last meeting in 2016 a number of annual reports remain to be formally accepted by the TIF Board. For the past five years, the amount and source of revenue was presented along with the corresponding amount and purpose of the associated expenditures. The entities’ obligations to date for revenue contributions, project expenditures, and associated debt service have been met. The tables are shown below: Amount & Source of Revenue 20162017201820192020 Property Tax$3,515,026 $4,104,396 $4,930,544 $5,490,424 $4,164,923 Investment Income$91,299 $87,368 $99,730 $396,367 $374,441 Total$3,606,325 $4,191,763 $5,030,274 $5,886,791 $4,539,364 Amount and Purpose of Expenditures 20162017201820192020 Debt Service$2,146,045 $2,346,287 $2,291,946 $2,260,461 $2,198,674 Total$2,146,045 $2,346,287 $2,291,946 $2,260,461 $2,198,674 The Board had no further questions. Suzy Compton moved to accept the TIF No. 2 Annual Reports for 2016, 2017, 2018, 2019, and 2020. Rebecca Barksdale seconded the motion, which was approved 7-0. D.1 RECEIVE A STATUS REPORT REGARDING THE PROJECT AND FINANCIAL STATUS OF TAX INCREMENT REINVESTMENT ZONE NUMBER 2 Director of Finance Mark Mills made a presentation on the financial status of TIF No. 2. Tarrant County and Tarrant County Hospital District have reached their maximum contribution. Only North Richland Hills and Tarrant County College continue to contribute revenue generated from the tax increment to TIF No. 2. The majority of the projects within TIF No. 2 are complete. 1) NRH Public Library opened in 2008 $10.0 million 2) NRH Centre opened in 2012 $21.9 million 3) Developer Contributions $14.4 million A planned Performing Arts Center project remains with an estimated cost, per the project plan, of $8,213,279. A summary of the financial status presented is shown below: Resources to date$ 103,773,222 Expenditures to date$ 77,614,593 Available Balance$ 26,158,629 Outstanding Obligations Outstanding Debt as of 10/01/2021$ 10,475,716 Reserve for Performing Arts Center$ 8,213,279 $ 18,688,995 As of 9/30/2021, there is sufficient balance in the TIF No.2 funds to pay all outstanding obligations. No action by the Board was required on this item. D.2 RECEIVE NOTICE FROM THE TARRANT COUNTY COLLEGE DISTRICT THAT THE DISTRICT NO LONGER PLANS TO PURSUE THE PERFORMING ARTS CENTER PROJECT THAT IS INCLUDED IN THE TAX INCREMENT REINVESTMENT ZONE NUMBER 2 PROJECT PLAN. Director of Finance Mark Mills made a presentation regarding a letter received by the City from Tarrant County College District. Mr. Eugene Giovannini, Chancellor of Tarrant County College District, sent a letter to Mark Hindman, City Manager on February 15, 2021 notifying the TIF Board the College District no longer plans to pursue a Performing Arts Center on the Northeast Campus. No action by the Board was required on this item. D.3 RECEIVE A PRESENTATION FROM REPRESENTATIVES OF THE ARTISAN THEATER REQUESTING AN AMENDMENT TO THE NORTH RICHLAND HILLS TAX INCREMENT REINVESTMENT ZONE NUMBER 2 PROJECT PLAN AND POTENTIAL ALLOCATION OF FUNDING FOR THE CONSTRUCTION OF A THEATER FOR USE BY THE ARTISAN THEATER COMPANY. Director of Finance Mark Mills introduced the item. Mr. Richard Blair, Co-Founder and Executive Producer of Artisan Center Theater made a presentation to the Board on the concept for a Multi-Use Event and Performing Arts Center to be located adjacent to the NRH Centre and NRH Library. After discussion, the Board asked Mr. Blair to return in approximately 90 days – at a Board meeting to be scheduled for January 24, 2022 –with responses to several questions from the Board. No action by the Board was required on this item. D.4 DISCUSS AND SET A FUTURE MEETING SCHEDULE OF THE TAX INCREMENT REINVESTMENT ZONE NUMBER 2 Director of Finance Mark Mills proposed two possible dates for the next meeting of the TIF No. 2 Board – (1) Monday, April 11, 2022 or (2) Monday, April 25, 2022. After discussion the Board determined it had no preference and will leave it to staff to select the date for the next meeting from the options provided. In conjunction with the discussion on item D.3, a Board meeting will be scheduled for January 24, 2022 to allow the Artisan Theater to make an additional presentation, providing clarification on the Board’s questions. No action by the Board was required on this item. E. ADJOURNMENT Mayor Trevino adjourned the meeting at 6:15 p.m.