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TIRZ Agenda 04-14-09 REINVESTMENT ZONE NUMBER TWO, CITY OF SCHERTZ, TEXAS CITY COUNCIL CONFERENCE ROOM CITY COUNCIL CHAMBERS 1400 Schertz Parkway Schertz Texas 78154 AGENDA TUESDAY, APRIL 14, 2009 5:00 p.m. Call to Order Hearing of Residents This time is set aside for any person who wishes to address the Board of Directors. Each person should fill out the speaker?s register prior to the meeting. Presentations should be limited to no more than 5 minutes. Discussion by the Board of any item not on the agenda shall be limited to statements of specific factual information given in response to any inquiry, a recitation of existing policy in response to an inquiry, and/or a proposal to place the item on a future agenda. The presiding officer, during the Hearing of Residents portion of the agenda, will call on those persons who have signed up to speak in the order they have registered. Discussion and/or Action Items 1. Approval of minutes of meeting of February 10, 2009 2. Briefing on status of Sedona project 3. Approval of Assignment requested by Developer 4. Report on Tax Increment deposits 5. Approval of payment of Administrative Costs and Project Costs Adjournment CERTIFICATION I, CYNTHIA RALEIGH, RECORDING SECRETARY OF REINVESTMENT ZONE, NUMBER TWO, CITY OF SCHERTZ, TEXAS, CERTIFY THAT THE ABOVE AGENDA WAS POSTED ON THE OFFICIAL BULLETIN BOARDS OF THE CITY OF SCHERTZ, TEXAS ON THIS THE ____ DAY OF APRIL, 2009 AT _____ _.M., WHICH IS A PLACE READILY ACCESSIBLE TO THE PUBLIC AT ALL TIMES AND THAT SAID NOTICE WAS POSTED IN ACCORDANCE WITH CHAPTER 551, TEXAS GOVERNMENT CODE. TIRZ Agenda 04-14-09.doc I, CYNTHIA RALEIGH, RECORDING SECRETARY OF REINVESTMENT ZONE, NUMBER TWO, CITY OF SCHERTZ, TEXAS, CERTIFY THAT THE ATTACHED NOTICE AND AGENDA OF ITEMS TO BE CONSIDERED BY THE TAX INCREMENT REINVESTMENT ZONE NUMBER TWO, CITY OF SCHERTZ, TEXAS WAS REMOVED BY ME FROM THE OFFICIAL BULLETIN BOARDS OF THE CITY OF SCHERTZ, TEXAS ON _____ DAY OF APRIL, 2009. ___________________________ Title:__________________________ This facility is accessible in accordance with the Americans with Disabilities Act. Handicapped parking spaces are available. If you require special assistance or have a request for sign interpretative services or other services please call 619-1017 at least 24 hours in advance of meeting. TIRZ Agenda 04-14-09.doc Agenda No. 1 ZONE BOARD MEMORANDUM Zone Board Meeting: April 14, 2009 Subject: Minutes of meeting of February 10, 2009 BACKGROUND Draft minutes of the Board?s meeting on February 10, 2009 are attached. RECOMMENDATION Approve minutes of meeting of February 10, 2009. ATTACHMENT Minutes of meeting of February 10, 2009. TIRZ Agenda 04-14-09.doc MINUTES REINVESTMENT ZONE NUMBER TWO, CITY OF SCHERTZ, TEXAS REGULAR MEETING FEBRUARY 10, 2009 A Regular meeting was held by the Board of Directors of Reinvestment Number Two, City of Schertz, Texas on February 10, 2009 at 5:00 p.m., in the Council Chamber Conference Room, 1400 Schertz Parkway. Building #4, Schertz, Texas. The following members were present, to- wit: Chair, Tony Wilenchik Vice-Chair Bob Cantu Secretary/Treasurer Michael Carpenter Board Member John Bierschwale Board Member Larry Anderson Board Member Larry Aiken Board Member Chris Price Board Member Steve White CALL TO ORDER: The meeting was called to order by Tony Wilenchik at 5:05 p.m. Approval of minutes from January 13, 2009 1. Steve White made motion to approve minutes. Seconded by Chris Price. Vote was unanimous. Motion Carried. Briefing of status of Sedona Project 2. Larry Aiken provided update to Board members and meeting attendees. No information from Lenar at this time. Lenar is waiting on specific assessments and wrapping up final details with its lender. Construction was scheduled to begin October 8, 2008 ? no construction as of yet. School District is ready to serve site, as soon as we know date for lift station. 3Drawing by Directors to establish staggered terms . Michael Spain reviewed a proposal to draw for staggered terms of Board members. Larry Anderson made a motion to draw for staggered terms. Seconded by Steve White. Vote was unanimous. Motion Carried. Results were as follows: Term End Date 9/30/2009 Term End Date 9/30/2010 John Bierschwale Chris Price Cliff Walker Steve White Michael Carpenter Tony Wilenchik Bob Cantu George Antuna Larry Aiken Melvin Golla Larry Anderson TIRZ Agenda 04-14-09.doc 4. Amendment of Bylaws Bylaws were reviewed by the Board. A motion to amend Section 2.1(c) of the Bylaws to read as follows: ?Tenure. Each director may serve a term of two (2) years and until he/she is re-appointed or his/her successor has been appointed. Terms of directors may be staggered. There shall be no limits on the number of terms an individual may serve as a director.? was made by John Bierschwale and seconded by Larry Aiken.Vote was unanimous. Motion Carried. 5. Approval of semi-annual report to Participating Taxing Units Board reviewed semi-annual report. Michael Spain will complete the semi-annual reports for the Board. Steve White made a motion to approve the report. Seconded by Chris Price.Vote was unanimous. Motion Carried. ADJOURNMENT As there was no further action, Chair Tony Wilenchik adjourned the meeting at 5:45 p.m. Next meeting set for April 14, 2009 at 5:00 p.m. _______________________________ Tony Wilenchik, Chair ATTEST: ________________________________ Cindy Raleigh, Recording Secretary TIRZ Agenda 04-14-09.doc Agenda No. 2 ZONE BOARD MEMORANDUM Zone Board Meeting: April 14, 2009 Subject: Project status report BACKGROUND The developer of the Sedona project will brief the Board on the status of the development. RECOMMENDATION No action is required. ATTACHMENT None TIRZ Agenda 04-14-09.doc Agenda No. 3 ZONE BOARD MEMORANDUM Zone Board Meeting: April 14, 2009 Subject: Assignment Agreement BACKGROUND The Board of Directors has been requested by the Developer to execute an Assignment (TIRZ) prepared by the Developer?s lender, First Continental Investment, Ltd. (the ?Lender?), pursuant to which the Zone acknowledges that the Developer has assigned to the Lender the Developer?s rights to reimbursement under the Zone Development Agreement for certain expenditures and advances paid or advanced by the Developer. RECOMMENDATION Authorize the Chair to execute and deliver the Assignment. ATTACHMENT Assignment TIRZ Agenda 04-14-09.doc TIRZ Agenda 04-14-09.doc TIRZ Agenda 04-14-09.doc TIRZ Agenda 04-14-09.doc TIRZ Agenda 04-14-09.doc TIRZ Agenda 04-14-09.doc TIRZ Agenda 04-14-09.doc Agenda No. 4 ZONE BOARD MEMORANDUM Zone Board Meeting: April 14, 2009 Subject: Tax Increment Deposits BACKGROUND The Director of Finance of the City of Schertz reports that, to date, the City has received the following deposits of Tax Increment for the credit of the Tax Increment Fund of the Zone: City of Schertz $ 0.00 Bexar County $ 0.00 San Antonio River Authority $ 0.00 Total: $ 0.00 RECOMMENDATION No action required ATTACHMENT None TIRZ Agenda 04-14-09.doc Agenda No. 5 ZONE BOARD MEMORANDUM Zone Board Meeting: April 14, 2009 Subject: Approval of Reimbursements BACKGROUND Under Section IV D 3 of the Zone Interlocal Agreement, the Zone Board shall use funds available in the Tax Increment Fund (i) to reimburse the City of Schertz (the ?City?), Bexar County (the ?County?), and San Antonio River Authority (?SARA?) for their respective initial start-up Administrative Costs; (ii) to reimburse the City for its financial and legal advisor fees (to the extent of Tax Increment contributed by the City; (iii) to pay on-going Administrative Costs of the City, the County, and SARA; and (iv) to reimburse the Developer for public improvements, including financing costs, as provided in the Zone Development Agreement and in the Final Project and Financing Plan. The Zone Board has received requests for the following payments: Cost Category City ($) County ($) SARA ($) Developer ($) 1. Start-up Administrative $24,000.00$28,824.00to be provided NA Costs 2. City Legal and Financial $7,800.00NANANA Advisory Costs 3. On-going Administrative $6,000.00$5,388.00to be provided NA Costs 4. Project Costs NANANAto be provided RECOMMENDATION Approve payment of requested costs in the order of cost category as money becomes available in the Tax Increment Fund and pro rata within a cost category if there are insufficient Tax Increment Funds to pay all amounts due in such cost category. TIRZ Agenda 04-14-09.doc ATTACHMENT Letter from City of Schertz Letter from Bexar County Letter from SARA (to be provided) Letter from Developer (to be provided) TIRZ Agenda 04-14-09.doc TIRZ Agenda 04-14-09.doc TIRZ Agenda 04-14-09.doc