1997-12-12 City of Southlake, Texas
SOUTHLAKE TAX INCREMENT REINVESTMENT ZONE
BOARD MEETING
December 12, 1997
MINUTES
Board Members Present: Rick Stacy, Pamela Muller, Wayne Moffatt, Ralph Evans,
David Harris, Larry Darlage, Jane Sanford, Ted Gillum.
Board Members Absent: Scott Martin, Gary Fawks, Fran Fuller, Buddy Luce.
Staff Present: Southlake City Manager Curtis E. Hawk, Southlake Director of
Finance Lou Ann Heath, Southlake Assistant to the City Manager Darcey Inure,
Southlake Financial Advisor Jim Sabonis, Tarrant County Economic Coordinator Lisa
McMillan.
Agenda Item No. 1. Call to order. The meeting was called to order by Acting Chair
Rick Stacy at 2:10 p.m.
Agenda Item No. 2. Consider Approval of Final Project and Financing Plan.
Curtis Hawk stated that the Board should consider approving the plan with the
boundaries and life as presented in the September 23 Preliminary Project and Financing
Plan. He stated that recent attempts to encourage Carroll Independent School District
(CISD) participation, changes were made to that original plan. In response to
information received regarding the treatment of TIF revenues in the TEA recapture
formula, Carroll Independent School District were uncertain as to their participation in
the Zone. Mr. Hawk emphasized that although the boundary would be reduced and the
associated projects removed, he wanted to ensure to provide an opportunity for CISD
to enter and participate at a future time. He stated that in discussions with CISD, they
are interested in contributing to the administration building and associated
infrastructure. They would pay for this with TIF contributions or other sources. At
this time, they were looking to structure their contribution at zero percent to increase
over time subject to future actions in Austin.
David Harris asked if the boundaries could be retained as they are in the December 2
Plan.
Curtis Hawk stated that the unusual boundaries with the school facilities would most
likely catch the Attorney General's attention when he was reviewing the plan prior to
the bond issuance.
REINVESTMENT ZONE BOARD MEETING, DECEMBER 12, 1997
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Pam Muller questioned how the Attorney General could rule that school's were not
educational facilities.
Darcey Imm explained that when the statute was passed, it was for municipalities.
Normally, cities are not in the business of building schools. Therefore educational
facilities were envisioned as libraries, museums, etc.
David Harris asked if there was a certain percentage which must be educational for it
to be considered appropriate.
Wayne Moffatt indicated it was now a political issue, not a practical one.
Rick Stacy inquired if the school's participation was definitely at zero percent.
Curtis Hawk explained that according to statute an overlapping taxing jurisdiction can
only increase their level of participation. That is why CISD has considered starting at
zero and increasing their participation over time if it was determined it was beneficial
for them to do so. He informed the Board that two timelines /deadlines are being faced.
The first is the
Motion was made to approve the project plan as presented on September 23, 1997 with
the inclusion of the joint use stadium in the project plan.
Motion: Harris
Second: Sanford
Ayes: Stacy, Muller, Moffatt, Evans, Harris, Darlage, Sanford, Gillum
Nays: none
Approved: 8 -0
Motion was made to approve the financing plan as distributed by the City's Financial
Advisor at the meeting.
Motion: Harris
Second: Moffatt
Ayes: Stacy, Muller, Moffatt, Evans, Harris, Darlage, Sanford, Gillum
Nays: none
Approved: 8 -0
Agenda Item No. 3 Adjournment.
Jane Sanford asked if any additional Reinvestment Zone Board meeting dates had been
set for 1998.
REINVESTMENT ZONE BOARD MEETING, DECEMBER 12, 1997
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Darcey Imm indicated that no dates had been set at this time, but information would be
sent to all board members at the start of the new year.
There being no further discussion, motion was made to adjourn the meeting at 7:35
p.m.
Motion: Harris
Second: Moffatt
Approved: All
Rick Stacy, Chair
ATTEST:
REINVESTMENT ZONE BOARD MEETING, DECEMBER 12, 1997
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