2002-01-22 TAX INCREMENT REINVESTMENT ZONE NUMBER ONE
CITY OF SOUTHLAKE, TEXAS
BOARD OF DIRECTORS
MINUTES
January 22, 2002
Members Present: Rick Stacy, Chair; Members: Larry Darlage, Patsy DuPre, Ralph
Evans, Ted Gillum, Rob Glover, Rex Potter, Jane Sanford, and Tom Stephen.
Members Absent: Drenda Witt and Greg Standerford
Staff Present: City Manager Billy Campbell, Finance Director Sharen Elam, Assistant to
the City Manager John Eaglen.
Agenda Item No. 1. Call to Order. The meeting was called to order at 4:35 p.m.
Agenda Item No. 2. Temporary Appointment of Chair. Rick Stacy was unanimously
elected as the temporary Chair to facilitate the meeting.
Agenda Item No. 3. Approval of the Minutes from the December 5, 2000 Tax
Increment Reinvestment Zone Number One Board of Directors Meeting.
Motion was made to approve the minutes for December 5, 2000, as presented.
Motion: Darlage
Second: DuPre
Ayes: Darlage, DuPre, Evans, Gillum, Glover, Potter, Sanford, Stacy
Nays: none
Abstained: Stephen
Approved: 8 -0 -1
Agenda Item No. 4. Approval of the 2001 Annual Report for the Tax Increment
Reinvestment Zone Number One. Finance Director Sharen Elam presented the annual
report (copy incorporated with the minutes) and commented on the projects and revenues.
She stated that she would provide the Board with a copy of projects that have not yet
been funded. Ms. Elam commented that the estimated net revenue for this year is
$700,000, approximately $118,000 short. The board members asked when the revenues
from the schools would begin, and Dr. Gillum stated that it would commence on a
graduated scale, with $22,000 going to the City this year and increasing amounts in future
years due to the effects of Robin Hood. Sharen Elam stated that CISD's property taxes
would go directly to the TIF, instead of passing directly to schools through Robin Hood.
She also stated that the exact amount of school district contributions would be determined
in March 2002. Board member Potter asked if staff would provide a spreadsheet on cash
flow — what we expect for next year including school estimates.
TIRZ Board Meeting Minutes, January 22, 2002, Page I of 3
Motion was made to approve the 2001 Annual Report as presented.
Motion: Potter
Second: Stephen
Ayes: Darlage, DuPre, Evans, Gillum, Glover, Potter, Sanford, Stacy, Stephen
Nays: none
Approved: 9 -0
Agenda Item No. 5. City Council Appointment of Chair for the Tax Increment
Reinvestment Zone Number One Board of Directors for 2002.. John Eaglen pointed
out that legal requirements stipulate that the City Council appoint a Chair by resolution
for a one -year term; however, the Board needs to make a recommendation for the
appointment.
Motion was made to recommend the appointment of Rick Stacy as Chair.
Motion: Potter
Second: Darlage
Ayes: Darlage, DuPre, Evans, Gillum, Glover, Potter, Sanford, Stacy, Stephen
Nays: none
Approved: 9 -0
Agenda Item No. 6. Appointment of Vice -Chair for the Tax Increment
Reinvestment Zone Number One Board of Directors for 2002. John Eaglen
commented that Board is responsible for the appointment of a Vice -Chair for a one -year
term.
Motion was made to appoint Rob Glover as Vice - Chair.
Motion: DuPre
Second: Darlage
Ayes: Darlage, DuPre, Evans, Gillum, Glover, Potter, Sanford, Stacy, Stephen
Nays: none
Approved: 9 -0
Agenda Item No. 7. 2002 Board of Directors Meeting Schedule for the Tax
Increment Reinvestment Zone Number One. John Eaglen informed the Board that the
By -Laws stipulate that the Board shall meet in the fourth quarter of each year, otherwise
meetings may be scheduled as desired by the Board. The Board members discussed the
need for a meeting before the fourth quarter meeting and agreed to meet prior to the City
Council meeting on August 6, 2002. Chair Stacy commented that staff received a request
from Cooper and Stebbins of Town Square to add someone from their office to the
Board. He suggested that this request be added to the next Board meeting agenda for
consideration.
Agenda Item No. 8. Adjournment.
TIRZ Board Meeting Minutes, January 22, 2002, Page 2 of 3
Prior to adjournment, Brian Stebbins from Cooper and Stebbins, briefed the Board on the
status of new projects for Town Square and the projection of new tenants for the near
future.
There being no further business to discuss the Board adjourned at 5:15 p.m.
ATTEST: ° ° °°n,unu,,,, nuTHLA ' ick Stacy, Chair
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Seer. tary to the City Manager „* *� ,,,0 °°
TIRZ Board Meeting Minutes, January 22, 2002, Page 3 of 3