HomeMy WebLinkAboutMinutes_Downtown TIRZ_07.18.2018MINUTES
Downtown Georgetown Tax Increment Reinvestment Zone (TIRZ)
City of Georgetown, Texas
July 18, 2018 at 11:00 A.M.
The Downtown Georgetown Tax Increment Reinvestment Zone (TIRZ) met on Julyl8, 2018 at 11:00 AM in the City Hall
Main Floor Conference Room, located at 113 East 8' Street, Georgetown, Texas.
Board Members Present
Mayor Dale Ross, Chair
Rachael Jonrowe
Trisha Tallman
Karen Soeffker
Board Members Absent
Rusty Winkstern
Legislative Regular Agenda
Mayor Dale Ross called the meeting to order at 11:00 a.m.
City Staff Present
David Morgan, City Manager
Laurie Brewer, Assistant City Manager
Leigh Wallace, Finance Director
Paul Diaz, Budget Manager
Eric Lashley, Library Director
Kim McAuliffe, Downtown Development Manager
Guests Present
A. Review minutes from the August 18, 2017 Downtown TIRZ Meeting — Danella Elliott
Motion to approve the minutes from August 18, 2017 by Mayor Ross; second by Rachael Jonrowe. Approved 4-0;
Rusty Winkstern absent.
B. Overview of the 2018/19 Financial Report — Leigh Wallace, Finance Director
Leigh Wallace gave the Financial Report, noting that the TIRZ Board is required to meet once per year and receive
the financial report to satisfy state reporting requirements. Leigh provided a list of eligible projects which TIRZ
funding could be used for. She said that this TIRZ has had excellent growth and explained that the incremental value
can be used for these projects.
The board thanked Leigh for her report.
C. Discussion, presentation and possible action to recommend projects - Laurie Brewer, Assistant City Manager
Laurie Brewer gave a presentation and update on the Downtown Initiatives, including TIRZ funded projects. She
explained the guiding policies and reviewed the history, noting that this is a successful TIRZ with a healthy growth
pattern. The Downtown TIRZ was established in 2003 with the original Downtown Master Plan and updated and
extended to 2044 in 2014
Some of the TIRZ funded FY2018 accomplishments include: historic street signs in overlay districts, Grace Heritage
renovation (partial funding), preliminary engineering/parking expansions, sidewalk access improvements and head in
parking at 9 h and Main. Other projects in progress include work in conjunction with the Watkins building, installation
of the Red Poppy Coffee/Library shade structure and additional trash/recycling compactors.
2019 Funding: $120K for general repairs and maintenance; $100K for parking expansion; $30K for Arts/Culture
Bloomberg grant, which includes hiring a consultant to provide conceptual drawings and budget costs for a Master
Plan for outdoor improvements to the City Center Campus, including development of outdoor space around the Library
and City Center for public art and small performances. Rachael Jonrowe said that she was in favor and loves the
concept, as it creates a campus feel.
MINUTES
Downtown Georgetown Tax Increment Reinvestment Zone (TIRZ)
City of Georgetown, Texas
July 18, 2018 at 11:00 A.M.
Next steps include 2019 recommendations for Council's budget consideration and council consideration of a parking
structure. This would include approximately 140 new spaces and an estimated cost of $5M, with 50% from TIRZ
revenue to repay (approximately $160K annually) and 50% from other tax base to repay.
Adjournment
Motion to adjourn by Mayor Ross; second by Rachael Jonrowe. Approved 4-0. Rusty Winkstern absent.
The meeting adjourned at 11:42 a.m.
Mayor a e Ross Date
Board Chair
_/ cea 4 kr/-If
y Mertink Date
Board Liaison