2003-01-21 TAX INCREMENT REINVESTMENT ZONE NUMBER ONE
CITY OF SOUTHLAKE, TEXAS
BOARD OF DIRECTORS MEETING
MINUTES
January 21, 2003
Members Present: Chair Rick Stacy; Members: Larry Darlage, Ralph Evans, Carolyn
Morris, Rex Potter, Tom Stephen, and Drenda Witt.
Members Absent: Vice -Chair Rob Glover, Jane Sanford, Keith Shankland, Greg
Standerfer.
Staff Present: City Manager Billy Campbell, Finance Director Sharen Elam, Assistant to
the City Manager John Eaglen, Chief of Building Services Malcolm Jackson, Deputy
City Secretary Tara Brooks, City Secretary Lori Farwell.
Agenda Item No. 1. Call to Order. Chair Rick Stacy called the meeting to order at 4:48
p.m.
Agenda Item No. 2. Approval of the minutes from the August 6, 2002, Tax
Increment Reinvestment Zone Number One Board of Directors Meeting.
Motion was made to approve the minutes for August 6, 2002, as presented.
Motion: Evans
Second: Stephen
Ayes: Darlage, Evans, Morris, Potter, Stephen, Stacy, Witt
Nays: None
Approved: 7 -0
Agenda Item No. 3. Approval of the recommendation to the City Council for the
appointment of the Chair of Tax Increment Reinvestment Zone Number One, City
of Southlake, Texas, for 2003. Section 311.009(0 of the Tax Increment Financing Act
states the following: "Each year the governing body of the municipality shall appoint one
member of the board to serve as chairman for a term of one year that begins on January 1
of the following year." Resolution No. 03 -009 provides for the City Council to meet this
requirement, and is scheduled as an item for consideration on the February 4, 2003,
meeting agenda.
Chair Stacy recommended Ralph Evans to serve as the Chair.
Motion was made to approve the recommendation to City Council of Ralph Evans as
Chair.
Motion: Stacy
Second: Darlage
Ayes: Darlage, Evans, Morris, Potter, Stephen, Stacy, Witt
TIRZ Board of Directors meeting minutes, January 21, 2003, Page 1 of 3
Nays: None
Approved: 7 -0
Agenda Item No. 4. Election of Vice -Chair for Tax Increment Reinvestment Zone
Number One, City of Southlake, Texas, for 2003. The Board is asked to consider the
election of a Vice -Chair at this meeting, and the Bylaws stipulate that this term is for one
year. The duties of this office include those assigned by the Board and to serve as Chair
in his absence.
Motion was made to approve the election of Larry Darlage as Vice - Chair.
Motion: Evans
Second: Stephen
Ayes: Darlage, Evans, Morris, Potter, Stephen, Stacy, Witt
Nays: None
Approved: 7 -0
Agenda Item No. 5. Election of Secretary for Tax Increment Reinvestment Zone
Number One, City of Southlake, Texas, for 2003. The board agreed to appoint the
City Secretary to act as Board Secretary with a change in the Bylaws which will be
brought forward at the next Board meeting. No action was taken on this item.
Agenda Item No. 6. Approval of the 2002 Annual Report for Tax Increment
Reinvestment Zone Number One, City of Southlake, Texas. Director of Finance
Sharen Elam presented this item to the Board. Section 311.006 of the Tax Increment
Financing Act establishes an annual report requirement for the City of Southlake TIRZ
Number One and requires that a copy of the report be forwarded to the Office of the State
Attorney General and to the chief executive officer of each taxing unit that levies taxes
within the zone.
Motion was made to approve the 2002 Annual Report for Tax Increment Reinvestment
Zone Number One, City of Southlake, Texas.
Motion: Potter
Second: Stephen
Ayes: Darlage, Evans, Morris, Potter, Stephen, Stacy, Witt
Nays: None
Approved: 7 -0
Brian Stebbins of Cooper and Stebbins made a presentation to the Board regarding the
development of Town Square.
Agenda Item No. 7. Discussion of reimbursement to Cooper and Stebbins per the
Developer's Agreement for Southlake Town Square.
In 1999, the TIRZ Board of Directors approved and amended the TRIZ Financing and
Project Plan. Per the plan, the TIRZ agreed to reimburse the developer 40% of the costs
of all streets, sidewalks, landscaping, and associated streetscape improvements within
Town Square. The TIRZ also agreed to reimburse the developer 100% of the cost of the
TIRZ Board of Directors meeting minutes, January 21, 2003, Page 2 of 3
design and construction of public facilities. Director of Finance Sharen Elam updated the
Board on the status of the reimbursement to the developer. Director Elam stated that
$4,196,000 is owed to the developer in reimbursement costs.
Agenda Item No. 8. Discussion of Board of Directors Meeting Schedule for 2003. The
Bylaws 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 discussed the proposed
2003 meeting dates and agreed to hold their next meeting on June 3, 2003.
Boardmember Stephen discussed the impact of Robin Hood on the TIF.
Agenda Item No. 9. Adjournment. There being no further business to discuss, the
Board adjourned at 5:26 p.m. L
/„
Rick Stacy ,
Chair
ATTEST:
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Lori A. Farwell Y ;" s cn
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City Secretary v
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TIRZ Board of Directors meeting minutes, January 21, 2003, Page 3 of 3