Minutes TIRZ No. 1 01/27/2014 MINUTES OF REGULAR SESSION FOR THE
TAX INCREMENT REINVESTMENT ZONE (TIF) NO. 1 BOARD
LOCATION: 100 MUNICIPAL DRIVE, TROPHY CLUB, TEXAS
Monday, January 27, 2014
6:00 PM
STATE OF TEXAS
COUNTY OF DENTON
The Tax Increment Reinvestment Zone (TIF) No. 1 Board of the Town of Trophy Club, Texas,
met in Regular Session on January 27, 2014. The meeting was held within the boundaries of
the Town and was open to the public.
TIF DIRECTORS PRESENT:
David Brod
Adam Broyles
Darrell Howard
Jared King
Carolyn Sims
STAFF AND GUEST(S) PRESENT:
Stephen Seidel Assistant Town Manager
Alora Wachholz Economic Development & Marketing Coordinator
David Pettit Guest Presenter
Call to order and announce a quorum at 6:00 PM. (Stephen Seidel called meeting)
CITIZEN PRESENTATIONS
REGULAR SESSION
1. Discuss and take appropriate action regarding appointing a temporary TIF Board
Chair to conduct January 27, 2014 meeting.
Assistant Town Manager Stephen Seidel explained that the Town Council would need to
formally appoint a Chair for the TIF Board and asked that a temporary Chair be assigned by the
TIF Board to fill in until the Town Council has appointed a permanent Chair. He also requested
the Board determine a recommendation for permanent Chair. Board Member Brod volunteered
himself as a potential option for temporary and permanent Chair.
A motion to approve Board Member Brod as Temporary and Permanent Chair was made by
Board Member King and seconded by Board Member Broyles. The motion was approved
unanimously.
2. Discuss and take appropriate action regarding election of a Vice -Chair, and
recommending a permanent Chair to the Town Council.
Board Chair Brod requested a volunteer to serve as Vice Chair. Board Member Broyles
volunteered himself.
Board Member King made a motion to approve Board Member Broyles as the new Vice Chair.
The motion was approved unanimously.
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3. Presentation by David Pettit of Preliminary Project and Financing Plan for Tax
Increment Reinvestment Zone No. 1.
A brief introduction was given to David Pettit. He identified the TIRZ No. 1 boundaries,
discussed current and planned development, potential project improvements within the TIF
zone, and an explanation and outline of the financial analysis created for the project. The
presentation concluded with some general next steps for the process. There was discussion
regarding how TIF-generated monies could be used for incentive options.
4. Discuss and take appropriate action regarding a Resolution approving the
Preliminary Project and Financing Plan for Tax Increment Reinvestment Zone
No.1.
Vice Chair Broyles made a motion to recommend approval of Resolution No. RZ1 — 2012-01
and Chair Brod seconded. The motion was approved unanimously.
5. Requests for Future Agenda Items.
Assistant Town Manager Stephen Seidel offered a potential option for Community Development
Director Carolyn Huggins to come to a future TIF Board meeting and present an overview of
Trophy Club's zoning and platting procedures. The Board agreed it would be beneficial to learn
the requirements.
EXECUTIVE SESSION
1. Pursuant to Texas Government Code, Annotated, Subchapter 551, the TIF Board
will convene into closed executive session as authorized by:
Section 551.087 Deliberation Regarding Economic Development Negotiations to
discuss or deliberate the offer of financial or other incentives to a business
prospect that the Town seeks to have locate within the territory of the Town.
Chair Brod convened Executive Session at 7:21 p.m.
RECONVENE INTO REGULAR SESSION
Chair Brod reconvened into Regular Session at 7:32 p.m.
ADJOURN
Board Member Howard moved to adjourn the meeting at 7:32 p.m. Board Member King
seconded he motion passed unanimously.
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-- i PO i.." 6 . IiiI.I k
David Br.d, Ch:ir W Robbie Killingsworth, Retarding Secretary
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