HomeMy WebLinkAboutTIF3 2024-11-11 Minutes MINUTES OF THE REGULAR MEETING OF THE TAX INCREMENT
REINVESTMENT ZONE NUMBER 3 BOARD OF DIRECTORS OF THE CITY OF
NORTH RICHLAND HILLS, TEXAS
4301 CITY POINT DRIVE
NORTH RICHLAND HILLS, TX 76180
MONDAY, NOVEMBER 11, 2024
5:00 P.M.
Present:
• Jack McCarty, Chair Mayor, North Richland Hills
• Kelvin Deupree, Secretary Councilmember, North Richland Hills
• Tito Rodriquez Councilmember, North Richland Hills
• Ricky Rodriguez Councilmember, North Richland Hills
• Suzy Compton Councilmember, North Richland Hills
• Matt Blake Councilmember, North Richland Hills
• Blake Vaughn Councilmember, North Richland Hills
• Russ Mitchell Councilmember, North Richland Hills
• Kathryn Rotter Executive Administrator Programs and Outreach,
Office of Gary Fickes, Northeast Sub Courthouse,
Commissioner Precinct #3
Others Present:
• Paulette Hartman City Manager
• Alicia Richardson City Secretary
• Cara White City Attorney
• Jay Patel Director of Finance
• Craig Hulse Director of Economic Development
• Stefanie Martinez Director of Neighborhood Services
• Trudy Lewis Assistant City Manager
• Caroline Waggoner Assistant City Manager
• Mary Peters Communications Director
• Boe Blankenship Public Works Director
Members Absent:
• None
November 11, 2024
Tax Increment Reinvestment Zone Number 3 Board of Directors Meeting Minutes
Page 1 of 3
A.
CALL TO ORDER
Chairman Jack McCarty called the meeting to order at 5:00 p.m.
B.
PUBLIC COMMENTS
No Public Comments were made or received at this time.
C.1
APPROVE MINUTES OF THE NOVEMBER 13, 2023 TAX INCREMENT
REINVESTMENT ZONE NO. 3 BOARD MEETING
Board Member Suzy Compton moved to approve the minutes. Board Member
Russ Mitchell seconded the motion.
The motion to approve carried 9-0.
C.2
DISCUSS AND ACCEPT THE NORTH RICHLAND HILLS TAX INCREMENT
REINVESTMENT ZONE NUMBER 3 ANNUAL REPORT FOR 2024.
Director of Finance Jay Patel made a brief presentation on the Annual Report of the TIF
#3 for 2024. Each Tax Increment Reinvestment Zone is required to submit an annual
report, to its Board and to the State, detailing its financial activities for the year. A
summary of the financial report for the year is shown below:
TAX INCREMENT REINVESTMENT ZONE NUMBER 3
Tax Increment Revenue Contribution By Year By Entity
For the Perioding Ending September 30, 2024
Amount & Source of Revenue in the Tax Increment Fund FY 2024:
Property Tax Increment Revenue Collected $44,811.48
Total Revenues in Fiscal Year 2024: $44,811.48
Amount and Purpose of Expenditures of the Fund FY 2024:
TIF 3 Annual Contribution to City Point PID $19,503.20
TIF 3 Expenses $352,93
Total Fund Expenditures in Fiscal Year 2024: $19,856.13
November 11, 2024
Tax Increment Reinvestment Zone Number 3 Board of Directors Meeting Minutes
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Captured Appraised Value by Taxing Entity and Total Amount of Tax Increment Revenue
Taxing Unit
Tax Year Fiscal Year City of NRH Tarrant County
Taxable Value 2023 2024 $29,872,943 $29,990,758
Base Year Appraised Value 2019 2020 $6,348,296 $6,348,296
Captured Increment Value 2023 2024 $23,524,647 $23,642,462
Economic Development Director Craig Hulse presented information regarding the
status of projects included in the zone.
After some discussion on the current status of the City Point development, Board
Member Blake Vaughn moved to accept the Annual Report for North Richland Hills
Tax Increment Reinvestment Zone Number 3 for the period ending September 30,
2024. Member Tito Rodriquez seconded the motion, which was approved 9-0.
D.
ADJOURNMENT
Chair Jack McCarty adjourned the meeting at 5:23 p.m.
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November 11, 2024
Tax Increment Reinvestment Zone Number 3 Board of Directors Meeting Minutes
Page 3 of 3