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2003-08-19 TIRZ Meeting TAX INCREMENT REINVESTMENT ZONE NUMBER ONE CITY OF SOUTHLAKE BOARD OF DIRECTORS MEETING LOCATION: Town Hall — City Council Chambers 1400 Main Street, Southlake, Texas 76092 DATE AND TIME: Tuesday, August 19, 2003 — 4:30 p.m. AGENDA: 1. Call to Order. 2. Consideration: Approval of the Minutes from the January 21, 2003 Tax Increment Reinvestment Zone Number One Board of Directors Meeting. 3. Consideration: 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. 4. Discussion: Fiscal Year 2003 -04 Tax Increment Reinvestment Zone Number One Budget Overview. 5. Discussion: Briefing on Southlake Town Square Projects. 6. Adjournment. CERTIFICATE I hereby certify that the above agenda was posted on the official bulletin boards at Town Hall, 1400 Main Street, Southlake, Texas on Wednesday, August 13, 2003 at 6:00 p.m., pursuant to the Texas Government Code, Chapter 551. c �. OU T y ".., z- �• Ste= 'ram G tq Se �'.fe+Q Yu '-- " ''*,* *, If you plan to attend this public meeting and have a disability that requires special needs, please advise the City Secretary 48 hours in advance at (817) 481 -1490, and reasonable accommodations will be made to assist you. 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 4 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 1 . � W. Ralph Eva s ATTEST: . Iil:1,,, Chair ,.�`QVT L.q H ��'', )0V- a 1 ir 0: -,,, ,A Lori A. Farwell 1— : ��� " s 0 E. City Secretary -- ,,, '"4 a n * '* * ,,,`., TIRZ Board Meeting Minutes, August 19, 2003, Page 3 of 3 City of Southlake, Texas MEMORANDUM August 13, 2003 TO: Billy Campbell, City Manager FROM: John Eaglen, Assistant to the City Manager (481 -1433) SUBJECT: Agenda Item Comments for Tax Increment Reinvestment Zone Number One Board of Directors Meeting, August 19, 2003 Agenda Item No. 2. Approval of the minutes from the Tax Increment Reinvestment Zone Number One Board of Directors Meeting held on January 21, 2003. The minutes are included in your packet. If you have any questions or concerns, please contact Lori Farwell. 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. The City Council adopted the Bylaws on February 15, 2000. The Bylaws serve to assist the City Council in the management and control of the property and affairs of the Zone. Furthermore, the Bylaws also provide guidelines for the Board of Directors. Article II: Board of Directors; Section 3: Regular Meetings — There are two points to this proposed amendment. One is amending the requirements for designating a regular meeting schedule by the standard of a minute order versus passing by resolution. The second proposal inserts verbiage into Section 3 that is present in Section 4: Special or Emergency Meetings. This establishes a consistent and standard notification practice for all meetings. Article II: Board of Directors; Section 6: Conduct of Business — This proposed amendment would make the City Secretary of the City of Southlake the Board of Directors Secretary. Agenda Item No. 4. Fiscal Year 2003 -04 Tax Increment Reinvestment Zone Number One Budget Overview. The TIRZ Board of Directors has traditionally requested this agenda item to be on their August meeting agenda. 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. Please contact Sharen Elam with any questions relating to the agenda item. Billy Campbell • Agenda Item Comments Board of Directors Meeting August 19, 2003 Page 2 of 2 Agenda Item No. 5. Briefing on Southlake Town Square Projects. The Board of Directors will be updated on the progress of Town Square Projects. As always, we appreciate your commitment and service to the community. If you have any questions or comments on the agenda or packet materials, please do not hesitate to contact Sharen or myself.