09-14-21 TIRZ MINUTESMINUTES
TAX INCREMENT REINVESTMENT ZONE (TIRZ) NUMBER TWO, CITY OF SCHERTZ, TEXAS
REGULAR MEETING
TUESDAY, SEPTEMBER 14, 2021
A special meeting was held by the Tax Increment Reinvestment Zone (TIRZ) Number Two, City of Schertz,
Texas on Tuesday, September 14, 2021 at 5:00 PM, in the Council Chambers at the Hal Baldwin Municipal
Complex, 1400 Schertz Parkway, Building #4, Schertz Texas. The following board members, staff and the
public were present:
Board Members Present
Michael Dahle, Chairperson
Mark Davis, Board Member
Chris Price, Board Member
Gary Inmon, Board Member
Clark McChesney, Board Member (Virtual)
Jill Whittaker, Board Member
Staff Members Present
Brian James, Staff Member
Public Present
Brad Pittenger
CALL TO ORDER
The meeting was called to order at 5:01 PM.
HEARING OF RESIDENTS
None present.
DISCUSSION AND /OR ACTION ITEMS
1. Approval of the Minutes from July 13, 2021
No action was taken as there was not a meeting held on July 13, 2021.
2. Authorize Expenditures Eligible for Reimbursement
Brian James explained that the Developer was seeking Board approval of expenditures. The are
improvements and other expenditures associated with the Crossvine that are eligible for
reimbursement per the Development Agreement. Previously, the Board has approved
expenditures of $16,516,825.00. The City's Engineering Department has reviewed the backup
material provided by the applicant and is supportive of approving the additional $18,750,639.52
in expenditures. This would bring the total approval to $35,267,464.52.
Motion to approve the additional eligible expenditures of $18,750,639.52 was made by Mark
Davis, seconded by Chris Price. Vote to approve was unanimous.
3. Authorize Additional Reimbursement
Brian James explained that the City has paid the Developer the last approved payment of
$600,00.00 with the developer telling the City to retain $500,000.00 of that to meet their
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obligation under the Development Agreement to go towards the City providing fire protection.
The fund has just over $700,000 in it, however the Developer is only requesting to be paid
$25,000.00 now based on the agreement they have to monetize the TIRZ by assigning revenue
they receive.
Motion to approve the additional payment of $25,00.00 was made by Mark Davis, seconded by
Jill Whittaker. Vote to approve was unanimous.
Discussion on the Status of the TIRZ Agreements
Brian James noted the amended TIRZ Agreements were approved by Bexar County on August 10,
2021. The Bexar County Commissioners Court had not appointed two new members as
anticipated, but it was hoped that would occur in the near future.
5. Discussion of Development Assignment of Revenues
Chris Price explained why the Developer was trying to assign the revenue they receive. He
explained some of the benefits of this method of financing the Development over traditional bank
financing which is what they have done previously. Brad Pittenger with the Developer He noted
it is not speculative but is based on development that has occurred to date.
ADJOURNMENT
Meeting adjourned at 5:14 PM.
Michael Dahle, Chair
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