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Item 5DCity of Southlake, Texas MEMORANDUM May 31, 2006 TO: Shana Yelverton, City Manager FROM: Ben Thatcher, Assistant to the City Manager SUBJECT: Resolution No. 06 -027, appointing four members to serve on the Board of Directors of the Tax Increment Reinvestment Zone Number One, City of Southlake, Texas Action Requested: City Council approval of Resolution No. 06 -027, appointing four (4) members to serve on the Board of Directors for the Tax Increment Reinvestment Zone (TIRZ) Number One of the City of Southlake, Texas. Background Information: Article II, Section 1 (Powers, Number, and Term of Office) of the Bylaws o the Tax Increment Reinvestment Zone Number One, the City of Southlake, Texas provides that the property and affairs of the zone shall be managed and controlled by the City Council of the City of Southlake. The Bylaws specify that the City Council shall appoint eight (8) members to the TIRZ Board of Directors, with one of these positions named by the Carroll Independent School District. The other taxing units participating in the zone (CISD, Tarrant County, Tarrant County Hospital District, and Tarrant County College) also may appoint one (1) representative to the Board of Directors. With respect to the length and terms of succession, the Bylaws state the following: "Each member shall serve for a term of two years, as stipulated in the Act, or until the member's successor is duly appointed and qualified " On July 18, 2000, the City Council approved Resolution No. 00 -80, appointing eight (8) members to the TIRZ Board of Directors for two year terms. Through the initial appointments and subsequent appointments, four (4) terms have expired. Resolution No. 06 -027 reappoints three (3) City Council members (Mayor Andy Wambsganss, Carolyn Morris, and Laura Hill) to a two year term, and also appointing new City Councilman, Vernon Stansell. TIRZ appointments are an annual agenda item after the City Council elections in order to manage the appointments to the TIRZ Board of Directors. Financial Considerations: Not Applicable. Shana Yelverton, City Manager May 31, 2006 Page 2 of 4 Citizen Input/ Board Review: Not Applicable. Legal Review: The City Attorney has been involved in the TIRZ process and can respond to any legal questions or issues which may arise during the meeting. Alternatives: Input towards the discussion and appointments as desired. Supporting Documents: Supporting documents include the following items: ■ Copy of Resolution No. 06 -027, appointing four (4) members to the Board of Directors of the Tax Increment Reinvestment Zone Number One, City of Southlake, Texas. Staff Recommendation: Approval of Resolution No. 06 -027, appointing four (4) members to the Board of Directors of Tax Increment Reinvestment Zone Number One, City of Southlake, Texas. RESOLUTION NO. 06 -027 A RESOLUTION OF THE CITY OF SOUTHLAKE, TEXAS, APPOINTING MEMBERS TO THE BOARD OF DIRECTORS FOR THE TAX INCREMENT REINVESTMENT ZONE NUMBER ONE OF THE CITY OF SOUTHLAKE; PROVIDING AN EFFECTIVE DATE. WHEREAS, the City Council of the City of Southlake, Texas, after public hearing created Tax Increment Reinvestment Zone Number One, City of Southlake, on September 23, 1997; and WHEREAS, a Board of Directors was established by the City of Southlake Ordinance No. 682, adopted September 23, 1997 and was amended by Ordinance No. 761, adopted December 7, 1999; and, WHEREAS, the City Council of the City of Southlake appointed eight members to the Board of Directors of Tax Increment Reinvestment Zone Number One on July 18, 2000; and WHEREAS, four (4) positions on the Board of Directors have become vacant due to the expiration of terms in May 2006, and the City Council is to appoint four (4) members to fill these vacancies; and THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SOUTHLAKE, TEXAS, THAT: Section 1. All of the findings in the preamble are found to be true and correct and the City Council hereby incorporates said findings into the body of this resolution as if copied in their entirety. Section 2. That the City of Southlake hereby appoints the following members to fill positions on the Board of Directors of Tax Increment Reinvestment Zone Number One, City of Southlake, Texas: 1. Mayor Andy Wambsganss Term Expires 5/2008 2. Carolyn Morris Term Expires 5/2008 3. Laura Hill Term Expires 5/2008 4. Vernon Stansell Term Expires 5/2008 Section 3. That this resolution is effective upon passage by the City Council. Resolution No. 06 -027 May 31, 2006 Page 2 of 2 PASSED AND APPROVED THIS THE DAY OF , 2006. CITY OF SOUTHLAKE, TEXAS I Mayor Andy Wambsganss ATTEST: Lori A. Farwell City Secretary