HomeMy WebLinkAbout2013-12-17 Joint MeetingAGENDA
CITY OF GRAPEVINE, TEXAS
SPECIAL JOINT CITY COUNCIL MEETING
GRAPEVINE 4B ECONOMIC DEVELOPMENT CORPORATION MEETING
TUESDAY, DECEMBER17,2013 AT 7:00 P.M.
CITY COUNCIL CONFERENCE ROOM
SECOND FLOOR
200 SOUTH MAIN STREET
EXECUTIVE SESSION
1 City Council and Grapevine 4B Economic Development Corporation to conduct a
closed session relative to:
A. Real property relative to deliberation or the exchange, lease or value of real
property relative to economic development pursuant to Section 551.072,
Texas Government Code.
B. Conference with City Manager and Staff to discuss and deliberate
commercial and financial information received from business prospects the
City seeks to have locate or expand in the City; with which businesses the
City is conducting economic development negotiations pursuant to Section
551.087, Texas Government Code.
City Council and Grapevine 4B Economic Development Corporation Board to
reconvene in open session in the City Council Chambers and take any necessary
action relative to real property or economic development under Sections 551.072
and 551.087, Texas Government Code.
2. City Council and the Grapevine 4B Economic Development Corporation to conduct
a public hearing relative to the proposed issuance of up to $19.5 million in revenue
bonds in support of the acquisition of approximately 185 acres of land at the
intersection of State Highway 121, Grapevine Mills Boulevard, and Grapevine Mills
Parkway.
3. Grapevine 4B Economic Development Corporation Board to consider the following:
A. Consider and act on a resolution of the Board of Directors of the Grapevine
4B Economic Development Corporation, authorizing the issuance and sale of
Grapevine 4B Economic Development Corporation Sales Tax Revenue
Bonds, Taxable Series 2014, in the aggregate principal amount of not to
exceed $19,500,000; prescribing the form of said bonds; providing for the
security for and payment of said bonds; approving execution and delivery of
a bond purchase agreement, authorizing the execution and delivery of a
paying agent/registrar agreement; approving an engagement letter;
approving the official statement; and containing other provisions relating to
the subject and take any necessary action.
B. Consider and act on a concurrent resolution providing for the collection,
handling and transfer of sales tax revenues due and owing to Grapevine 413
Economic Development Corporation and take any necessary action.
C. Grapevine 4B Economic Development Corporation Board to adjourn special
meeting.
4. City Council to consider the following:
A. Consider and act on a resolution authorizing the City Manager to execute a
real estate contract relative to the acquisition of approximately 185 acres of
land and take any necessary action.
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If you plan to attend this public meeting and you have a disability that requires special
arrangements at the meeting, please contact the City Secretary's Office at (817) 410-3182
at least 24 hours in advance of the meeting. Reasonable accommodations will be made to
assist your needs.
In accordance with Texas Government Code, Chapter 551.001 et seq, Acts of the 1993
Texas Legislature, the Special City Council Meeting Agenda was prepared and posted on
this the 13th day of December, 2013 at 5:00 p.m.
Brown�,
IFIlecretary
STATE OF TEXAS
COUNTY OF TARRANT
CITY OF GRAPEVINE
GRAPEVINE 413 ECONOMIC DEVELOPMENT CORPORATION
The City Council and the Grapevine 4B Economic Development Corporation Board of
Directors of the City of Grapevine, Texas met in Executive Session on this the 17th day of
December, 2013 at 7:00 p.m. in the City Council Conference Room, Second Floor, 200
South Main Street, with the following members present to -wit:
C. Shane Wilbanks
Sharron Spencer
Roy Stewart
Darlene Freed
Mike Lease
Chris Coy
Martin Honeycutt
Matt Carnes
Cory Halliburton
Mayor Pro Tem/413 Vice President
Council Member/413 Member
Council Member
Council Member/413 Member
Council Member
Council Member
4B Member
413 Member
413 Member
constituting a quorum, with Mayor/46 President William D. Tate absent, with the following
members of the City Staff:
Bruno Rumbelow
City Manager
Jennifer Hibbs
Assistant City Manager
John F. Boyle, Jr.
City Attorney
Matthew Boyle
Assistant City Attorney
Jodi C. Brown
City Secretary
• •-e
Mayor Pro Tem Wilbanks called the meeting to order at 7:01 p.m.
ITEM 1. EXECUTIVE SESSION
Mayor Pro Tem Wilbanks announced the City Council and the Grapevine 4B Economic
Development Board of Directors would conduct a closed session regarding:
(A) Real property relative to deliberation or the exchange, lease or value of real property
relative to economic development pursuant to Section 551.072, Texas Government Code;
and
(B) Conference with City Manager and Staff to discuss and deliberate commercial and
financial information received from business prospects the City seeks to have locate or
expand in the City; with which businesses the City is conducting economic development
i negotiations pursuant to Section 551.087, Texas Government Code.
12/17/13
Upon reconvening in open session in the Council Chambers, Mayor Pro Tern Wilbanks
asked if there was any action necessary relative to the closed session. City Manager
Bruno Rumbelow stated there was no action necessary as a result of the Executive
Session.
NOTE: Item (B) Conference with City Manager and Staff under Section 551.087, Texas
Government Code was not discussed.
Mayor Pro Tern Wilbanks declared the City Council and Grapevine 413 Economic
Development Corporation joint public hearing open.
City Manager Rumbelow noted the City Council and the Grapevine 413 Economic
Development Corporation were conducting a public hearing to receive comments on the
proposed issuance of up to $19.5 million in revenue bonds in support of the acquisition of
approximately 185 acres of land at the intersection of State Highway 121, Grapevine Mills
Boulevard, and Grapevine Mills Parkway, and then reviewed a presentation on the tract's
history, purchase, and funding options.
Mayor Pro Tern Wilbanks asked if anyone wished to speak. The following people spoke in
support of the proposed bonds: Carl Young, 4113 Meadow Drive; Curtis Ratliff, 220
Blevins Street; Paul Slechta, 2703 Pebble Stone; and Mark Terpening, 516 Dunn Court.
Ross Bannister, 424 Ball Street, spoke in opposition to the action being taken to purchase
the land.
Following discussions of the Council and 4B Board, 4B Board Member Freed offered a
motion to close the joint public hearing. The motion was seconded by 4B Board Member
Honeycutt and prevailed by the following vote:
Ayes: Wilbanks, Spencer, Freed, Honeycutt, Carnes & Halliburton
Nays: None
Absent: Tate
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ECONOMIC DEVELOPMENT CORPORATION SALES TAX REVENUE
BONDS, TAXABLE SERIES 2014
The next item to be considered was a resolution of the Board of Directors of the Grapevine
4B Economic Development Corporation, authorizing the issuance and sale of Grapevine
4B Economic Development Corporation Sales Tax Revenue Bonds, Taxable Series 2014,
in the aggregate principal amount of not to exceed $19,500,000; prescribing the form of
said bonds; providing for the security for and payment of said bonds; approving execution
and delivery of a bond purchase agreement, authorizing the execution and delivery of a
paying agent/registrar agreement; approving an engagement letter; approving the official
statement; and containing other provisions relating to the subject.
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12/17/13
4B Member Honeycutt, seconded by 4B Member Halliburton, offered a motion to approve
the resolution. The motion prevailed by the following vote:
Ayes: Wilbanks, Spencer, Honeycutt & Halliburton
Nays: Freed & Carnes
Absent: Tate
RESOLUTION NO. 4B 2013-03
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE
GRAPEVINE 4B ECONOMIC DEVELOPMENT
CORPORATION, AUTHORIZING THE ISSUANCE AND SALE
OF GRAPEVINE 4B ECONOMIC DEVELOPMENT
CORPORATION SALES TAX REVENUE BONDS, TAXABLE
SERIES 2014, IN THE AGGREGATE PRINCIPAL AMOUNT
OF NOT TO EXCEED $19,500,000; PRESCRIBING THE
FORM OF SAID BONDS; PROVIDING FOR THE SECURITY
FOR AND PAYMENT OF SAID BONDS; APPROVING
EXECUTION AND DELIVERY OF A BOND PURCHASE
AGREEMENT, AUTHORIZING THE EXECUTION AND
DELIVERY OF A PAYING AGENT/REGISTRAR
AGREEMENT; APPROVING AN ENGAGEMENT LETTER;
APPROVING THE OFFICIAL STATEMENT; AND
CONTAINING OTHER PROVISIONS RELATING TO THE
SUBJECT
The final item of business was to consider and act on a concurrent resolution providing for
the collection, handling and transfer of sales tax revenues due and owing to Grapevine 4B
Economic Development Corporation and take any necessary action.
4B Member Honeycutt, seconded by 4B Member Halliburton, offered a motion to approve
the resolution. The motion prevailed by the following vote:
Ayes: Wilbanks, Spencer, Honeycutt & Halliburton
Nays: Freed & Carnes
Absent: Tate
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3
12/17/13
NOTE: The City Council remained in session to consider published business.
ADJOURNMENT
4B Board Member Martin, seconded by 4B Board Member Freed, offered a motion to
adjourn the meeting at 8:16 p.m. The motion prevailed by the following vote:
Ayes: Wilbanks, Spencer, Freed, Honeycutt, Carnes & Halliburton
Nays: None
Absent: Tate
PASSED AND APPROVED BY THE GRAPEVINE 4B ECONOMIC DEVELOPMENT
CORPORATION OF THE CITY OF GRAPEVINE, TEXAS on this the 10th day of
September, 2014.
ATTEST:
Joi Brown
Citalecretary
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4B Vice President