HomeMy WebLinkAboutMinutes_Rivery Park TIRZ_07.19.2018Minutes of the
RIVERY PARK
TAX INCREMENT REINVESTMENT ZONE (TIRZ) BOARD
City of Georgetown, Texas
July 19, 2018
The RIVERY PARK TAX INCREMENT REINVESTMENT ZONE (TIRZ) Board of Directors met on JULY 19,
2018 at 9:30 A.M. in the CITY COUNCIL CHAMBERS CONFERENCE ROOM, located at 101 EAST 7TH STREET,
GEORGETOWN, TX
Board Members Present
Mayor Dale Ross
Laurie Brewer, Assistant City Manager
Leigh Wallace, Finance Director
Valerie Nicholson
Ronald Swain
Leah Clark (for Charles Schwertner)
Board Members Absent
Jeff Novak
Marsha Farney
Legislative Regular Agenda
Mayor Ross called the meeting to order at 9:30 a.m.
City Staff Present:
Paul Diaz
David Morgan, City Mgr
Others Present
Drew Graham
A Review minutes from August 21, 2017 — Danella Elliott, Executive Assistant
Motion to approve the minutes by Mayor Ross; second by Valerie Nicholson. Approved 6-0. Jeff Novak
and Marsha Farney absent.
B Presentation of the annual financial report —Leigh Wallace, Finance Director
Leigh Wallace explained that the TIRZ Board is required to meet once per year and receive the financial
report to satisfy state reporting requirements. She presented the 2018/19 Financial Report and noted
that the incremental value each year is placed in the TIRZ fund, which pays for allowable expenses and
improvements. Leigh noted that the GTEC Board approved and will seek Council approval to stop the
GTEC transfer in 2019. She explained that the City Property Tax Revenue and 80% of the County
Property Tax Revenue is remitted to the City. Leigh explained that when everything has been paid off,
the Board can then add projects. Allowable expenses now are reimbursements for infrastructure and the
parking garage, but the Project Plan can be modified if needed. Discussion followed and the board
thanked Leigh for providing the information for the annual financial report.
Adjournment
Motion by Mayor Ross; second by Valerie Nicholson to adjourn at 10:03 a.m.
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Dale Ross, Mayor Date
Board Chair
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Board Liaison
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