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Item 5B City of Southlake, Texas M E M O R A N D U M December 28, 2005 TO: Shana Yelverton, City Manager FROM: Ben Thatcher, Assistant to the City Manager (x. 8005) Approve Resolution No. 06-001, Appointing the Chair for the Board of SUBJECT: Directors of Tax Increment Reinvestment Zone Number One, City of Southlake, Texas, for 2006 Action Requested: City Council approval of Resolution No. 06-001, reappointing Keith Shankland to serve as the Chair for the Board of Directors for Tax Increment Reinvestment Zone Number One, City of Southlake, Texas (“TIRZ”), for 2006. Background Information: Section 311.009(f) of the Tax Increment Financing Act (the “Act”) states the following: “Each year the governing body of the municipality shall appoint one member of the board to serve as chairman for a term of one year that begins on January 1 of the following year.” Resolution No. 06- 001 reappoints Mayor Pro-Tem Keith Shankland to serve as chair for 2006. Financial Considerations: Not Applicable. Citizen Input / Board Review: The TIRZ Board of Directors discussed this item at their December 6, 2005 meeting, and approved a recommendation to the City Council to reappoint Mr. Shankland to serve as chair for 2006. Legal Review: The City Attorneys have been involved in the TIRZ process and can respond to any legal questions or issues which may arise during the course of the meeting. Alternatives: Input towards the discussion as desired. Supporting Documents: Supporting documents include the following items: ▪Copy of Resolution No. 06-001, appointing a chair to the TIRZ Board of Directors for the year 2006. Shana Yelverton, City Manager December 28, 2005 Page 2 of 3 Staff Recommendation: Place approval of Resolution No. 06-001 as an item on the January 3, 2006 City Council meeting agenda to reappoint Keith Shankland to serve as Chair of the TIRZ Board of Directors for 2006. RESOLUTION NO. 06-001 A RESOLUTION OF THE CITY OF SOUTHLAKE, TEXAS, APPOINTING A CHAIRPERSON OF THE BOARD OF DIRECTORS OF TAX INCREMENT REINVESTMENT ZONE NUMBER ONE, AND PROVIDING AN EFFECTIVE DATE. WHEREAS , the City Council of the City of Southlake, Texas (the “City”), after public hearing, passed Ordinance No. 682 creating a Reinvestment Zone as authorized by the Tax Increment Financing Act, V.T.C.A, Tax Code, Chapter 311 (the “Act”) on September 23, 1997; and WHEREAS , Ordinance No. 682 established a Board of Directors to administer the zone; and WHEREAS, the City passed Ordinance No. 761, amending Ordinance No. 682 relating to the manner of appointment and terms of office for the members of the Board of Directors of the Tax Increment Reinvestment Zone Number One on December 7, 1999; and WHERAS, in accordance with Section 311.009(f) of the Act, the governing body of the municipality that created the reinvestment zone must appoint one member of the board to serve as chair for a term of one (1) year that begins on January 1 of the following year; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SOUTHLAKE, TEXAS: Section 1. That all matters stated in the preamble of this resolution are true and correct and are hereby incorporated into the body of this resolution as if copied in their entirety. Section 2. Keith Shankland That the City Council hereby appointsto serve as Chair of the Reinvestment Zone Board of Directors for one (1) year to begin on January 1, 2006. Section 3. That the City of Southlake authorizes and directs that this action be made part of the City’s permanent records. Section 4. That this resolution shall become effective from and after the date of its passage. PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF SOUTHLAKE, TEXAS ON THIS THE __________ DAY OF_________________________ 2006. APPROVED: ___________________________________ Andy Wambsganss, Mayor ATTEST: _________________________________ Lori A. Farwell, City Secretary