HomeMy WebLinkAbout2013-12-12 Joint MeetingAGENDA
CITY OF GRAPEVINE, TEXAS
SPECIAL CITY COUNCIL MEETING
GRAPEVINE 4B ECONOMIC DEVELOPMENT CORPORATION MEETING
THURSDAY, DECEMBER 12, 2013 AT 8:00 A.M.
CITY COUNCIL CONFERENCE ROOM
SECOND FLOOR
200 SOUTH MAIN STREET
EXECUTIVE SESSION
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.
City Council and Grapevine 4B Economic Development Corporation Board to
reconvene in open session and take any necessary action relative to real property
under Sections 551.072, Texas Government Code.
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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 5th day of December, 2013 at 5:00 p.m.
Tara Brooks
Assistant City Secretary
STATE OF TEXAS
COUNTY OF TARRANT
CITY OF GRAPEVINE
GRAPEVINE 4B ECONOMIC DEVELOPMENT CORPORATION
The Grapevine 4B Economic Development Corporation Board of Directors of the City of
Grapevine, Texas met in Executive Session with the City Council on this the 12th day of
December, 2013 at 8:00 a.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/4B Vice President
Council Member/413 Member
Council Member
Council Member/413 Member
Council Member
Council Member/413 Member
4B Member
4B Member
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constituting a quorum, with Mayor/4B 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
Mayor Pro Tern Wilbanks called the meeting to order at 8:03 a.m.
ITEM 1. EXECUTIVE SESSION
Mayor Pro Tern 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.
NOTE: City Attorney John F. Boyle, Jr. left the Executive Session at 9:01 a.m.
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 the City Council and the 4B Economic Development Corporation
Board of Directors met in Executive Session discussing the potential purchase by the City
12/12/13
from the Gardens of Grapevine of 185 acres, currently in bankruptcy, bounded by FM2499
on the west, State Highway 121 North on the east and Grapevine Mills Boulevard to the
south. The purchase price for the subject tract is $29.5 million. In November 2013, the
City had an appraisal performed by Ben Dyess and Associates which estimated the value
of the property at $43 million. The City's purpose in this purchase is to remove the
property from bankruptcy; perform a master plan; and to market the property for sale to
recoup the investment.
As a result of the closed session, Assistant City Attorney Matthew Boyle presented to the
4B Board a resolution authorizing the expenditure of up to $29.5 million in 413 Economic
Development Corporation funds for the purchase of real estate, including the use of up to
$10 million of 4B fund balance; contingent upon the reimbursement of 4B funds in the
event of the sale of all or a part of the real estate being acquired; and authorizing the
publication of the notice relative to the issuance of debit for the remaining $19.5 million
consistent with and pursuant to Chapter 505 of the Local Government Code. Assistant City
Attorney Boyle stated during this public meeting, the 4B Board would conduct a public
hearing to receive public comment and then consider the presented resolution.
Grapevine 4B Vice President Wilbanks declared the public hearing open. Vice President
Wilbanks asked if anyone wished to speak and it was noted that no one present wished to
speak.
Following comments by 4B Board Member Freed relative to involvement with speculative
real estate investing and the scheduling of an additional public hearing, Assistant City
Attorney Boyle stated that Section 2.of the proposed resolution affirms the publication of an
additional notice of a public hearing to be held prior to the issuance of the debit and that
the City Council would conduct a public hearing on Tuesday, December 17, 2013.
4B Board Member Honeycutt, seconded by 4B Board Member Halliburton, offered a
motion to approve the resolution as presented. The motion prevailed by the following vote:
Ayes: Wilbanks, Spencer, Honeycutt & Halliburton
Nays: Freed & Carnes
Absent: Tate
• ••• ` Wily I
Mayor Pro Tem Wilbanks stated the public would have an opportunity to offer comments
during a public hearing on Tuesday, December 17, 2013 and Assistant City Attorney Boyle
stated the public would also have an additional opportunity to comment during a future
public hearing prior to the issuance of the debt.
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12/12/13
NOTE: The City Council remained in session in the Council Chambers to consider
published business.
ADJOURNMENT
There being no further 4B Board business to consider, Vice President Wilbanks declared
the 4B Board meeting adjourned at 9:28 a.m.
PASSED AND APPROVED BY THE GRAPEVINE 4B ECONOMIC DEVELOPMENT
CORPORATION OF THE CITY OF GRAPEVINE, TEXAS on this the 10th day of
September, 2014.
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Adit. Brown
City Secretary
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C. Shane/Wilbanks
4B Vice President
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