1997-11-05 City of Southlake, Texas
SOUTHLAKE TAX INCREMENT REINVESTMENT ZONE
Temporary BOARD MEETING
November 5, 1997
MEETING MINUTES
Board Members Present: Rick Stacy, Pamela Muller, Gary Fawks, Scott Martin, Ralph
Evans, Glen Whitley, Larry Darlage, Jane Sanford
Staff Present: Southlake City Manager Curtis E. Hawk, Southlake Director of Finance Lou
Ann Heath, Southlake Assistant to the City Manager Darcey Imm, Jim Sabonis First
Southwest, Tarrant County Administrator G.K. Maenius, Tarrant County Economic
Development Coordinator Lisa McMillan, Steve Johnson CISD.
Others Present: Rex Potter, Marissa Taylor, Frank Bliss, Brian Stebbins
Agenda Item No. 1. Call to order. The meeting was called to order by Acting Chairman
Rick Stacy at 7:30 p.m.
Agenda Item No. 2. Discussion: Reinvestment Zone Project and Finance Plan. Curtis
Hawk distributed the schedule of events to the members. Glen Whitley discussed the different
liability limits for the entities and discussed the joint ownership of the Town Hall facility. The
board discussed the various options for proceeding. Glen Whitley indicated the County will
need approximately 15,000- 20,000 square feet for their offices. Jane Sanford stated that they
will get with their architects to confirm the figures for the building. Glen Whitley suggested
the limits of their liability and suggested that they look at the figures again for the building.
Brian Stebbins presented the stadium concept located at Town Square. Although they would
lose two to three buildings for the stadium, it would be a nice amenity for the development.
Agenda Item No. 3. Discussion: Overlapping Taxing Jurisdictions Participation
Agreements. The board discussed the stadium, and CISD said they have to consider when
they will receive the rich school district status in three to five years. They would like to
capture the value in the district. CISD would continue to pay the $26 million for their portion
of the TIF projects. Jim Sabonis stated that the financial advisors are running the numbers,
and suggested that they can shield some money from the TEA. They will have more
information prepared next week. Lynn Moak, former TEA financial advisor, stated that the
TIF funds can flow to CISD rather than keep them in the TIF by using sales tax to keep the
CISD involved in the TIF. The latest time to adopt the final plan is December 16, 1997.
TIRZ Board Meeting Minutes
November 5, 1997
Page 2
Agenda Item No. 4 Adjournment.
There being no further discussion, motion was made to adjourn the meeting. All members
were in favor of adjournment.
Rick Stacy, Acting Chair
ATTEST: