HomeMy WebLinkAboutSouth_Georgetown_TIRZ_Board_Agenda_8_30_2016_1846Notice of Meeting for the
South Georgetown TIRZ Board
of the City of Georgetown
August 30, 2016 at 2:00 PM
at Historic Light and Waterworks Building Conference Room, located at 406 West 8th
Street, Georgetown, TX
The City o f G eo rgeto wn is committed to comp lianc e with the Americans with Dis abilities Ac t (ADA). If yo u
req uire as s is tanc e in participating at a p ublic meeting d ue to a disability, as d efined und er the ADA, reas onab le
as s is tance, ad ap tatio ns , or acc o mmo d ations will b e provid ed up o n req uest. P leas e c o ntact the City Sec retary's
Office, at leas t three (3) days prior to the sc hed uled meeting d ate, at (512) 930-3652 o r City Hall at 113 Eas t 8th
Street fo r add itional info rmation; TTY us ers ro ute through Relay Texas at 711.
Legislativ e Regular Agenda
A Pres entatio n and ap p ro val o f the minutes from the January 29, 2016 meeting.
B Overview o f the 2016/17 Financ ial Rep ort - Leigh Wallace, F inance Direc to r
CERTIFICATE OF POSTING
I, Shelley No wling, C ity S ecretary fo r the C ity of Geo rgeto wn, Texas , d o hereby c ertify that this Notice of
Meeting was p o s ted at City Hall, 113 E. 8th Street, a p lace read ily acc es s ible to the general p ublic at all times ,
on the ______ d ay o f __________________, 2016, at __________, and remained so p o s ted fo r at leas t 72
c o ntinuo us ho urs p receding the sc heduled time o f s aid meeting.
____________________________________
S helley No wling, City Sec retary
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City of Georgetown, Texas
South Georgetown TIRZ Board
August 30, 2016
SUBJECT:
Presentatio n and approval of the minutes fro m the January 29, 2016 meeting.
ITEM SUMMARY:
Presentatio n and dis c us sion of the minutes fro m the January 29, 2016 meeting.
FINANCIAL IMPACT:
N/A
SUBMITTED BY:
Danella Ellio tt, Exec utive As s is tant
ATTACHMENTS:
Description Type
Minutes 1.29.2016 Res olution Letter
Page 2 of 8
Minutes of the
SOUTH GEORGETOWN
TAX INCREMENT REINVESTMENT ZONE (TIRZ) BOARD
City of Georgetown, Texas
January 29, 2016
The SOUTH GEORGETOWN TAX INCREMENT REINVESTMENT ZONE (TIRZ) Board of Directors met on
FRIDAY, JANUARY 29, 2016 at 11:00 A.M. in the GEORGETOWN MUNICIPAL COMPLEX WILLIAMSON
ROOM, LOCATED AT 300-1 INDUSTRIAL GEORGETOWN, TX
Board Members Present City Staff Present
Dale Ross, Mayor, Chair Jim Briggs, General Manager of Utilities
Anna Eby, Councilmember District 1 Laurie Brewer, Assistant City Manager
David Morgan, City Manager
Glenn Dishong, City Utility Director
Sofia Nelson, City Planning Director
Bill Stump, GUS Advisory Board Chairman
Bill Connor, GTEC President
Board Members Absent
None
Others Present
None
Legislative Regular Agenda
A Review minutes from the September 24, 2015 South Georgetown Tax Increment Zone (TIRZ)
Board of Directors Meeting -- Danella Elliott, Executive Assistant
Motion to approve the minutes by Anna Eby, second by Bill Conner. Approved 7-0
B Discussion and possible action on TIRZ project construction timelines, scope and funding
projections – Laurie Brewer, Assistant City Manager and Jim Briggs, General Manager for
Utilities
Jim Briggs provided an informational item and explained the project plan and included projects, funding
sources and estimated costs for the South Georgetown TIRZ. The plan outlined opportunities for the
City utility funds, the Georgetown Transportation Enhancement Corporation (4B sales tax Corporation)
and/or the Georgetown Economic Development Corporation (4A sales tax corporation) to fund the initial
costs, with future revenues from the TIRZ to reimburse the upfront costs as value increases. The TIRZ
limited the overall project funding to $50 million in total projects to be funded.
Mayor Ross clarified the dates (2014 and 2015 is now 2016) driven by acquisition ROW. He thanked
Jim and noted that 2016 is a very busy year.
C Consideration and possible action to approve an agreement to dedicate tax increment
reinvestment zone revenues to reimburse the Georgetown Transportation Enhancement
Corporation for costs related to improvements of Oakmont/Mays Street/Rabbit Hill Road within
the zone – Laurie Brewer, Assistant City Manager
Laurie Brewer explained that the project plan for the South Georgetown TIRZ included the following
two projects that the Georgetown Transportation Enhancement Corporation) would fund the initial costs,
with future revenues from the TIRZ to reimburse the upfront costs as value increases.
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The two projects are:
• Mays Street extension (formerly known as Oakmont)
• A portion of the Rabbit Hill Road improvements are currently under design.
Laurie said that an interlocal agreement with the City of Round Rock is also under consideration for the
portion of construction that is in the City of Round Rock jurisdiction.
This contract would formalize the dedication of TIRZ revenues for reimbursement to GTEC for the
upfront costs for construction of Oakmont (Mays Street) and Rabbit Hill Road. GTEC will be funding
this construction through the issuance of 20 year bonds; therefore interest and issuance costs (total debt
service) is included in the agreement.
Motion to approve Item C, by Sofia Nelson, second by Anna Eby. Approved 7-0
Public Wishing to Address Council
On a subject that is posted on this agenda: Please fill out a speaker registration form. Clearly print your name and
the letter of the item on which you wish to speak and present it to the Chair or Board Liaison, preferably prior to the
start of the meeting. You will be called forward to speak when the Board considers that item.
On a subject not posted on the agenda: Persons may add an item to a future Board agenda by contacting the Liaison
prior to the creation of the agenda for the following meeting, with the subject matter of the topic they would like to
address and their name. The Board Liaison, Danella Elliott, can be reached at 512-930-3676 or
danella.elliott@georgetown.org.
Certificate of Posting
I, Shelley Nowling, City Secretary for the City of Georgetown, Texas, do hereby certify that this Notice of Meeting
was posted at City Hall, 113 E. 8th Street, a place readily accessible to the general public at all times, on the _____
day of ____________, 2013, at _________, and remained so posted for at least 72 hours preceding the scheduled time
of said meeting.
_____________________________________
Shelley Nowling, City Secretary
Motion to adjourn the meeting at 11:35 a.m.by David Morgan, second by Anna Eby. Approved 7-0
__________________________________ ____________
Mayor Dale Ross Date
Board Chair
__________________________________ ____________
Danella Elliott Date
Board Liaison
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City of Georgetown, Texas
South Georgetown TIRZ Board
August 30, 2016
SUBJECT:
Overview o f the 2016/17 F inancial Report - Leigh Wallac e, Financ e Director
ITEM SUMMARY:
This rep o rt s atis fies s tate rep o rting req uirements .
FINANCIAL IMPACT:
N/A
SUBMITTED BY:
Leigh Wallace, Financ e Directo r
ATTACHMENTS:
Description Type
Financial Report Backup Material
Page 5 of 8
296 - South Georgetown TIRZ
FY2015 Actual FY2016 Budget FY2016 Projected FY2017 Base FY2017 Changes FY2017 Budget
Beginning Fund Balance - - - 71,688 - 71,688
Revenues FY2015 Actual FY2016 Budget FY2016 Projected FY2017 Base FY2017 Changes FY2017 Budget
Tax Revenue 71,688 130,649 - 130,649
Interest - -
Grand Total 71,688 130,649 - 130,649
Expenses FY2015 Actual FY2016 Budget FY2016 Projected FY2017 Base FY2017 Changes FY2017 Budget
Capital Improvements - - - - - -
Transfers - - - 53,201 53,201
Grand Total - - - 53,201 - 53,201
FY2015 Actual FY2016 Budget FY2016 Projected FY2017 Base FY2017 Changes FY2017 Budget
Ending Fund Balance - - 71,688 149,136 - 149,136
Maintenance Contingency - - 25,000 25,000 - 25,000
Available Fund Balance - - 46,688 124,136 - 124,136
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Account Gl Mapping FY2015 Actual FY2016 Budget FY2016 Projected FY2017 Base FY2017 Changes FY2017 Budget
296-4-0001-40-100 AD VALOREM TAX Tax Revenue 71,688 130,649 - 130,649
296-4-0001-42-100 ALLOCATED INTEREST Interest - -
- - 71,688 130,649 - 130,649
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Account Gl Mapping FY2015 Actual FY2016 Budget FY2016 Projected FY2017 Base FY2017 Changes FY2017 Budget
296-9-0602-90-001 CAPITAL IMPROVEMENTS Capital Improvements - - - - - -
296-5-0000-51-XXX TRANSFER OUT, GTEC Transfers - - - 53,201 53,201
- - - 53,201 - 53,201
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