HomeMy WebLinkAboutItem 08 - Amended Participation Agreement with GCISDMEMO TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
-• BRUNO RUMBELOW, CITY MANAGER V-4
MEETING DATE: FEBRUARY 2, 2016
SUBJECT: AMENDED PARTICIPATION AGREEMENT WITH GRAPEVINE-
COLLEYVILLE INDEPENDENT SCHOOL DISTRICT FOR TAX
INCREMENT FINANCING DISTRICT REINVESTMENT ZONE
NUMBER ONE
RECOMMENDATION:
It is recommended that the City Council adopt the attached amendment to the
Participation Agreement with Grapevine-Colleyville Independent School District (GCISD)
for Tax Increment Financing District Reinvestment Zone Number One.
The amended Participation Agreement will allow GCISD to remain a participant in the Tax
Increment Financing District Reinvestment Zone Number One as a non-contributing entity
so that up to $30,000,000 can be used by GCISD to acquire, construct, and/or reconstruct
educational facilities and for a joint -use facility between GCISD and the City of Grapevine.
Staff recommends approval.
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FIRST AMENDMENT TO CITY • GRAPEVINE AND
GRAPEVINE/COLLEYVILLE INDEPENDENT SCHOOL DISTRICT
AGREEMENT TO PARTICIPATE IN
REINVESTMENT ZONE NUMBER • CITY • GRAPEVINE
THIS FIRST AMENDMENT TO AGREEMENT TO PARTICIPATE IN REINVESTMENT
ZONE NUMBER ONE (the "First Amendment") is made and entered into by and between
the City of Grapevine, ("City"), a home -rule municipal corporation, and the
Grapevine/Colleyville Independent School District ("GCISD").
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WHEREAS, the City and GCISD previously entered into the Agreement to
Participate in Reinvestment Zone Number Two effective August 1, 1996 (the
"Agreement"); and
WHEREAS, the City has a population well less than 130,000; and
WHEREAS, the City and GCISD have a lengthy history of successful cooperation
and partnerships; and
WHEREAS, Agreement has been mutually beneficial to the City and GCISD; and
WHEREAS, GCISD is authorized to amend the Agreement pursuant to Section
311.0085 of the Texas Tax Code for acquiring, constructing, or reconstructing an
educational facility located in or outside of the zone; and
WHEREAS, the City and GCISD wish to amend the Agreement to include up to
$30,000,000 to be used by GCISD to acquire, construct, and/or reconstruct educational
facilities and for all project related costs; and
WHEREAS, the new projects will be jointly used by GCISD and the City in
accordance with GCISD policies at times when the City's use does not interfere with
GCISD's use for educational purposes; and
WHEREAS, the new projects include the renovation of the GCISD stadium and the
installation, maintenance and/or repair of a fiber optic cable network to connect City and
GCISD facilities; and
WHEREAS, the City and GCISD are authorized by law to approve this First
Amendment; and
WHEREAS, all constitutional, statutory and legal prerequisites for the approval of
this First Amendment have been met, including but not limited to the Open Meetings Act.
NOW, THEREFORE, the City and Grapevine/Colleyville Independent School
District, in consideration of the terms, conditions, and covenants contained herein, hereby
agree as follows:
Section 1. All matters stated hereinabove are found to be true and correct and are
incorporated herein by reference as if copied in their entirety.
Section 2. Section 1.g. of the Agreement is hereby added to the Agreement as
follows:
"g. In accordance with Sections 311.008 and 311.0085 of the Act, the
Reinvestment Zone has dedicated up to $30,000,000 to be used by GCISD to acquire,
construct and/or reconstruct educational facilities and for all related project costs, which
will be used jointly by GCISD and by the City in accordance with GCISD policies, at times
when the City's use of educational facilities does not interfere with GCISD's use for
educational purposes. Such educational facilities include renovation of GCISD's stadium.
In addition to the stadium renovation, GCISD will use dedicated funds for the installation,
maintenance, and/or repair of a fiber optic cable network to connect GCISD facilities and
City facilities. GCISD and the City will share costs of materials, equipment, and labor and
related project costs to install the network. The Reinvestment Zone shall disburse
dedicated funds to GCISD for these authorized purposes in accordance with the
development plan between the Reinvestment Zone and GCISD, and GCISD shall be
responsible for the expenditure of and accounting for such funds as required by law. The
use of these dedicated funds by the Reinvestment Zone and GCISD for educational
facilities and related project costs does not increase the number of years for which the
total dollar amount may be deducted, the total dollar amount deducted, or the portion of
the tax increment retained by GCISD, in accordance with Texas Government Code,
Section 403.302 (e)."
Section 2. All provisions of the Agreement not specifically amended herein shall
remain in full force and effect and are hereby confirmed, ratified and approved.
EXECUTED this the day of February, 2016, by the City, signing by and
executed through its City Manager and by Grapevine-Colleyville Independent School
District, through its duly authorized officials, on the day of ,
2016.
Bruno Rumbelow
City Manager
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Tara Brooks, City Secretary
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SCHOOL DISTRICT
Leon Leal
President, Board of Trustees
Attest:
Jesse G. Rodriguez
Secretary, Board of Trustees