HomeMy WebLinkAbout2009-09-08 AGENDA
CITY OF GRAPEVINE, TEXAS
TAX INCREMENT FINANCING DISTRICT
REINVESTMENT ZONE NUMBER ONE
BOARD OF DIRECTORS MEETING
TUESDAY, SEPTEMBER 8, 2009 AT 5:10 P.M.
CITY COUNCIL CHAMBERS
200 SOUTH MAIN
GRAPEVINE, TEXAS
CALL TO ORDER
NEW BUSINESS
1. Board of Directors to consider a resolution amending Tax Increment
Financing District Zone (TIF) Number One Project Plan and Finance Plan
establishing a TIF Grants Category pursuant to Texas Tax Code, Section 311
and take any necessary action.
2. Consider the minutes of the July 22, 2003 Board of Directors meeting and
take any necessary action.
ADJOURNMENT
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 Tax Increment Reinvestment District Number
One Board of Directors Meeting Agenda was prepared and posted on this the 4th
day of September, 2009 at 5:00 p.m.
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Linda Huff
City Secretary
STATE OF TEXAS
COUNTY OF TARRANT
CITY OF GRAPEVINE
The Tax Increment Financing District Reinvestment Zone Number One Board of Directors
met on this the 8th day of September, 2009 at 5:10 p.m. in the City Council Chambers,
Second Floor, 200 South Main Street, with the following members present to-wit:
William D. Tate Chairman/Grapevine Mayor
C. Shane Wilbanks Board Member/Mayor Pro Tem
Roy Stewart Board Member/Council Member
Mike Lease Board Member/Council Member
Chris Coy Board Member/Council Member
Carolyn Sims Board Member/Tarrant County
Drenda Witt Board Member/Tarrant County Hospital District
constituting a quorum,with Board Member Leon Leal—Grapevine-Colleyville Independent
School District and Board Member Rudy Gonzales—Tarrant County Junior College absent,
with the following members of the City Staff:
Bruno Rumbelow City Manager
Jennifer Hibbs Assistant City Manager
Tommy Hardy Assistant City Manager
Matthew Boyle Assistant City Attorney
Linda Huff City Secretary
John McGrane Administrative Services Director
CALL TO ORDER
Chairman Tate called the meeting to order at 5:13 p.m.
ITEM 1. RESOLUTION. AMEND FINANCING PLAN AND PROJECT PLAN, TAX
INCREMENT FINANCING ZONE NUMBER ONE
City Manager Bruno Rumbelow requested approval of a resolution allowing an amendment
to the Tax Increment Financing (TIF)Zone Number One Financing and Project Plan forthe
Grapevine Mills Mall and thatwould create a 380 Categorywithin the Financing and Project
Plan. In 2005, State law changed to allow the City to place funds contributed to date to the
TIF and additional funds contributed up to 2016-2017 into a 380 account in the TIF zone to
incentivize further economic development in the zone. Any proposed project will be
consistent with the City's goals and the Grapevine Mills Mall expansion. Mr. Rumbelow
stated that with the investment and additional square footage to the mall, the taxing
jurisdictions that participate in the TIF will see their investments almost double after the
mall expands. It is an investment in the future and an entity that is important to the
community. Approval of the resolution will allow funds to be placed in a 380 account and if
the opportunity arises for the mall to expand, the funds will be available.
09/08/09
Mr. David Petit, Gideon Toal, stated that the TIF statue provides that once a TIF zone is
terminated, all jurisdictions, with the exception of the City, will be able to take their money
and spend however they prefer. The City money has to be spent in the TIF zone.
Ms. Carolyn Sims, Tarrant County Board Member, noted that Tarrant County Administrator
G. K Maenius would address the TIF Board expressing the County's position. Mr. Maenius
stated it was the County's concern that the City wants to take out money that is currently
available to totally pay off the bonds. He stated that the County and the Tarrant County
Hospital District do not want to continue contributions to the TIF for the next two years and
they would like to have an end date to their participation in the TIF zone. He stated that
currently, the County does not enter in any TIF agreements at the 100% level, as they did
for TIF #1, they are at a 75-80% participation level in other TIF agreements.
During discussion, Assistant City Attorney Matthew Boyle stated there could not be any
action regarding the County's and Hospital DistricYs continued participation in the TIF as
that was not posted on the agenda.
During deliberation, it was noted that the participation agreements of the jurisdictions need
to remain the same so the Grapevine-Colleyville Independent School District would not be
affected. It was also noted that few TIF zones and few malls are as successful as the
Grapevine Mills Mall.
Board Member Coy offered a motion to approve the resolution authorizing the amendment
to the Tax Increment Financing (TIF) Zone Number One Financing and Project Plan and
creation of a 380 Category within the Financing and Project Plan. Board Member Lease
seconded the motion, which prevailed by the following vote:
Ayes: Tate, Wilbanks, Stewart, Lease & Coy
Nays: Sims & Witt
Absent: Leal & Gonzales
RESOLUTION NO. TIF #1 2009-01
A RESOLUTION OF THE BOARD OF DIRECTORS OF TAX
INCREMENT FINANCE DISTRICT REINVESTMENT ZONE
NUMBER ONE APPROVING AMENDMENTS TO THE
PROJECT AND FINANCING PLAN FOR TAX INCREMENT
REINVESTMENT ZONE NUMBER ONE, CITY OF
GRAPEVINE, TEXAS, AND PROVIDING AN EFFECTIVE
DATE
ITEM 2. CONSIDERATION OF MINUTES
City Secretary Huff recommended approval of the July 22, 2003 Board of Directors meeting
as published.
09/08/09
Board Member Wilbanks, seconded by Board Member Stewart offered a motion to approve
as recommended. The motion prevailed by the following vote:
Ayes: Tate, Wilbanks, Stewart & Lease
Nays: None
Abstain: Coy, Sims & Witt
Absent: Leal & Gonzales
ADJOURNMENT
Board Member Wilbanks, seconded by Board Member Stewart, offered a motion to adjourn
the meeting at 5:45 p.m. The motion prevailed by the following vote:
Ayes: Tate, Wilbanks, Stewart, Lease, Coy, Sims & Witt
Nays: None
Absent: Leal & Gonzales
PASSED AND APPROVED BY TAX INCREMENT FINANCING DISTRICT
REINVESTMENT ZONE NUMBER ONE BOARD OF THE CITY OF GRAPEVINE,TEXAS
on this the 29th day of March, 2010.
APPROVED:
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William D. Tate
Chairman/Mayor
ATTEST:
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Lind� Huff
City Secretary