2003-08-19 OFFICIAL
TAX INCREMENT REINVESTMENT ZONE NUMBER ONE
CITY OF SOUTHLAKE, TEXAS
BOARD OF DIRECTORS MEETING
MINUTES
August 19, 2003
Location: Council Chambers, 1400 Main Street, Southlake, Texas
Members Present: Chair W. Ralph Evans; Members: Dale Crane; Vice -Chair Larry Darlage;
Carolyn Morris; Rex Potter (arrived at 4:46 p.m.); Jane Sanford; Keith Shankland; Tom
Stephen; Andy Wambsganss; and Drenda Witt.
Members Absent: Jim Schiele and Greg Standerfer.
Staff Present: Finance Director Sharen Elam, Assistant to the City Manager John Eaglen,
Executive Secretary Kim Bush, City Secretary Lori Farwell.
Agenda Item No. 1. Call to Order. Chair Evans called the meeting to order at 4:35 p.m.
Agenda Item No. 2. Approval of the minutes from the January 21, 2003, Tax Increment
Reinvestment Zone Number One Board of Directors meeting.
Motion was made to approve the minutes for January 21, 2003, as presented.
Motion: Stephen
Second: Shankland
Ayes: Morris, Wambsganss, Evans, Darlage, Shankland, Stephen, Witt
Nays: None
Abstain: Sanford, Crane
Approved: 7 -0 -2
Agenda Item No. 4. Discussion of Fiscal Year 2003 -04 Tax Increment Reinvestment Zone
Number One Budget Overview. Director of Finance Sharen Elam presented the proposed FY
2003 -04 budget to the Board. The Ad Valorem revenue base for FY 2003 -04 has an increment
taxable base of $84,555,370. Contributing taxing jurisdictions include the City of Southlake,
Tarrant County, Tarrant County College, and Tarrant County Hospital District. Carroll ISD also
participates in the TIRZ, but historically the proposed budget reflected a zero -level of
participation per the participation agreement between the City and CISD. The City will know the
exact dollar contribution from CISD in FY 2003 -04 in March 2004. The only expenditures
proposed in the FY 2003 -04 budget are for debt service ($1,376,737) leaving a proposed Ending
Fund Balance of $14, 607.
Motion was made to approve Fiscal Year 2003 -04 Tax Increment Reinvestment Zone Number
One budget.
Motion: Stephen
Second: Shankland
Ayes: Sanford, Morris, Wambsganss, Evans, Darlage, Shankland, Crane, Stephen, Witt
TIRZ Board Meeting Minutes, August 19, 2003, Page 1 of 3
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Nays: None
Approved: 9 -0
Agenda Item No. 5. Briefing on Southlake Town Square projects. Brian Stebbins of Cooper
and Stebbins made a presentation to the Board regarding the development of Town Square. He
described the original vision for Town Square as well as discussed current development and
future development such as the Brownstones, the hotel, and the potential movie theater.
Board member Potter arrived at 4:46 p.m.
Agenda Item No. 3. Recommendation to the City Council to approve Resolution No. 03-
062, to authorize the Board of Directors to revise the Bylaws of Tax Increment
Reinvestment Zone Number One, City of Southlake, Texas, Article II, Section 3: Regular
Meetings; and Article II, Section 6: Conduct of Business. Assistant to the City Manager John
Eaglen presented this item to the Board. The proposed Bylaw amendments are: 1) Article II ::
Board of Directors; Section 3: Regular Meetings - These are housekeeping amendments that
provide for flexibility in scheduling regular meetings (by minute order versus resolution) and
provides for standard and consistent notification procedures for regular and special or emergency
meetings (proposed Section 3 wording already exists in Article II, Section 4); and, 2) Article II ::
Board of Directors; Section 6: Conduct of Business — This proposed amendment would make the
City Secretary of the City of Southlake also the Board of Directors Secretary.
These amendments were brought forward last year in conjunction with a request from Cooper
and Stebbins to consider increasing the City Council's appointees to the Board of Directors to
include a representative from the Town Square developer. During consideration of this item at
the August 6, 2002, Board meeting, the Board of Directors elected to not make a request to the
City Council to revise the Bylaws at that time. At the January 21, 2003, meeting, during
consideration of electing officers for the coming year, the Board of Directors requested that staff
bring forward the proposal regarding the City Secretary in order to streamline the secretarial
function
Motion was made to approve Resolution No. 03 -062.
Motion: Potter
Second: Stephen
Ayes: Sanford, Potter, Mon Wambsganss, Evans, Darlage, Shankland, Crane,
Stephen, Witt
Nays: None
Approved: 10 -0
Agenda Item No. 6. Adjournment. There being no further business to discuss, the Board
adjourned at 4:58 p.m.
TIRZ Board Meeting Minutes, August 19, 2003, Page 2 of 3
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TIRZ Board Meeting Minutes, August 19, 2003, Page 3 of 3