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Home My WebLink AboutDowntown_TIRZ_Board_Agenda_7_18_2018_2633Notice of Meeting for the Downtown TIRZ Board of the City of Georgetown July 18, 2018 at 11:00 AM at City Hall Main Floor Conference Room located at 113 E 8th Street Georgetown, TX 78626 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 Review minutes fro m the August 18, 2017 Do wntown Geo rgeto wn Tax Inc rement Zone (TIRZ) Bo ard o f Directo rs Meeting -- Danella Elliott, Exec utive As s istant B Pres entatio n o f the Downto wn Georgetown TIR Z Annual Financ ial Report - Leigh Wallace, Finance Directo r C Dis cus s ion, p res entation and possible ac tion to rec o mmend p ro jects – Laurie Brewer, As s is tant City Manager 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 __________________, 2018, 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 Page 1 of 32 City of Georgetown, Texas Downtown TIRZ Board July 18, 2018 SUBJECT: Review minutes from the Augus t 18, 2017 Downto wn Georgetown Tax Inc rement Zo ne (T IRZ) Board of Direc tors Meeting -- Danella Ellio tt, Executive As s is tant ITEM SUMMARY: Review minutes from the Augus t 18, 2017 Downto wn Georgetown Tax Inc rement Zo ne (T IRZ) Board of Direc tors Meeting FINANCIAL IMPACT: N/A SUBMITTED BY: Danella Ellio tt, Board Liaison ATTACHMENTS: Description Type 8.18.2017 DT GT TIRZ Draft Minutes Backup Material Page 2 of 32 MINUTES Downtown Georgetown Tax Increment Reinvestment Zone (TIRZ) City of Georgetown, Texas Friday, August 18, 2017 at 10:00 A.M. The Downtown Georgetown Tax Increment Reinvestment Zone (TIRZ) met on Friday, August 18, 2017 at 10:00 AM in the City Hall 2nd Floor Conference Room, located at 113 East 8th Street, Georgetown, Texas. Board Members Present City Staff Present Mayor Dale Ross David Morgan, City Manager Rachael Jonrowe, Chair (joined meeting at Item C) Laurie Brewer, Assistant City Manager Taylor Kidd Leigh Wallace, Finance Director Karen Soeffker Michaela Dollar, Economic Development Director Board Members Absent Guests Present Rusty Winkstern Jeff Parker Legislative Regular Agenda Mayor Dale Ross called the meeting to order at 10:00 a.m. A. Review minutes from the December 12, 2016 Downtown TIRZ Meeting – Danella Elliott Motion to approve the minutes from December 12, 2016 by Taylor Kidd; second by Mayor Dale Ross. Approved 3- 0; Rusty Winkstern and Rachael Jonrowe absent. B. Overview of the 2017/18 Financial Report – Leigh Wallace, Finance Director Leigh Wallace gave the Financial Report, giving the snapshot value, current revenues and expenses. She noted that there is approximately $540,000 available for projects. The 2017 projects (Library canopy, tree mitigation/lighting, downtown parking and the parking lot at the Grace Heritage Church should all be completed by the end of the year). She also gave a list of eligible projects which TIRZ funding could be used for. The board thanked Leigh for her report. C. Downtown Initiatives presentation update to the Downtown TIRZ Board (2017 and 2018 funding) – Laurie Brewer, Assistant City Manager --- *(Rachael Jonrowe entered the meeting during Item C) Laurie gave a presentation and summary of the 2017 and 2018 Downtown Initiatives, including TIRZ funded projects. She explained the guiding policies, mentioned the partners, and noted that there has been a healthy growth pattern in downtown development, with the valuation more than doubling to $93M since the Downtown TIRZ was created. She went over the major areas to address, including infrastructure, business attraction and retention, marketing, communication, culture and events. Some of the TIRZ funded FY 2017 completed projects include: installation of the 2nd Big Belly trash compactor, lighting/banners for the parking lots, and sidewalk projects. Included with other funding is the design work for Downtown West, completion of VFW Park construction and additional sidewalk projects. FY 2017 projects in progress were also mentioned in the presentation, as well as the upcoming FY 2018 projects. Discussion about projects followed, and Laurie then gave the next steps, which include reviewing the 5 year plan (sidewalk projects to improve accessibility and enhance transportation network), gateway signage and parking improvements and continue to leverage public improvements towards private investments and emphasize arts and culture. Page 3 of 32 MINUTES Downtown Georgetown Tax Increment Reinvestment Zone (TIRZ) City of Georgetown, Texas Friday, August 18, 2017 at 10:00 A.M. David Morgan discussed “additional requested information”. He said that railing/fencing/bollard installation had been proposed during the expansion of the Austin Avenue sidewalk from 7th to 8th Street. At the time, it was decided to raise the curb and add planters. Since that time, David met individually with all of the property owners, and determined that due to the legal requirements, and the high level of consensus from the property owners, he does not recommend moving forward with the suggestion to add the railing. Mayor Ross agreed with the analysis. Rachael Jonrowe asked if any studies had been conducted on the planters and bollards for safety enhancement. Laurie asked for further discussion/comments on the presentation. Taylor Kidd noted that as a frequent visitor to the downtown, he feels that the tree trimming and lighting need to be addressed. He emphasized that this should be treated as an important safety concern and continue to be included as a priority. Adjournment Mayor Ross asked for a motion to adjourn. Motion by Taylor Kidd; second by Mayor Dale Ross. Approved 4-0. Rusty Winkstern absent. The meeting adjourned at 10:45 a.m. __________________________________ ____________ Rachael Jonrowe, Chair Mayor Dale Ross presided over meeting Date Board Chair __________________________________ ____________ Danella Elliott Date Board Liaison Page 4 of 32 City of Georgetown, Texas Downtown TIRZ Board July 18, 2018 SUBJECT: Presentatio n of the Do wntown Geo rgeto wn T IRZ Annual F inancial Report - Leigh Wallac e, Financ e Direc tor ITEM SUMMARY: Presentatio n of the Do wntown Geo rgeto wn T IRZ Annual F inancial Report FINANCIAL IMPACT: N/A SUBMITTED BY: Leigh Wallace, Financ e Directo r ATTACHMENTS: Description Type Fund Schedule Backup Material Revenue Backup Material Expens e Backup Material His tory Graph Backup Material Page 5 of 32 293 ‐ Downtown TIRZ 7/13/2018 8:32:49 AM FY2017 Actual FY2018 Budget FY2018 Projected FY2019 Base FY2019 Changes FY2019 Budget Beginning Fund Balance 26,618 303,450 353,331 89,620 ‐ 89,620 Revenue FY2017 Actual FY2018 Budget FY2018 Projected FY2019 Base FY2019 Changes FY2019 Budget Tax Revenue 221,629 237,227 237,489 261,301 261,301 Other 1,134 500 3,800 3,000 3,000 Transfer 202,632 ‐ ‐ Grand Total 425,394 237,727 241,289 264,301 264,301 Expenses FY2017 Actual FY2018 Budget FY2018 Projected FY2019 Base FY2019 Changes FY2019 Budget Capital Improvements 98,681 541,177 505,000 220,000 30,000 250,000 Transfers ‐ ‐ Grand Total 98,681 541,177 505,000 220,000 30,000 250,000 FY2017 Actual FY2018 Budget FY2018 Projected FY2019 Base FY2019 Changes FY2019 Budget Ending Fund Balance 353,331 ‐ 89,620 133,922 (30,000) 103,922 CAFR Adjustment ‐ ‐ ‐ ‐ ‐ ‐ Available Fund Balance 353,331 ‐ 89,620 133,922 (30,000) 103,922 Page 6 of 32 Revenue GL Mapping FY2017 Actual FY2018 Adopted Budget FY2018 Projected FY2019 Base Budget FY2019 Changes FY2019 Budget 293‐4‐0001‐42‐100 ALLOCATED INTEREST Other 1,134 500 3,800 3,000 3,000 293‐4‐0001‐42‐361 SALE OF PROPERTY Other ‐ ‐ ‐ 293‐4‐0001‐40‐100 AD VALOREM TAX Tax Revenue 221,629 237,227 237,489 261,301 261,301 293‐4‐0000‐49‐900 TRANSFER IN ‐ GCP Transfer 202,632 ‐ ‐ 425,394 237,727 241,289 264,301 ‐ 264,301 Page 7 of 32 Expense GL Mapping FY2017 Actual FY2018 Adopted B FY2018 Projec FY2019 Base Budg FY2019 Change FY2019 Budget 293‐5‐0000‐51‐990 TRANSFER OUT ‐ GCP Transfers ‐ ‐ 293‐5‐0000‐51‐992 TRANSFER OUT ‐ SRF Transfers ‐ 293‐5‐0000‐51‐993 TRANSFER OUT ‐ ISF Transfers ‐ 293‐5‐0602‐52‐009 GENERAL REPAIR AND MAINTENANCE Capital Improvements 67,841 124,177 110,000 120,000 120,000 293‐5‐0602‐52‐010 LIBRARY CANOPY Capital Improvements ‐ 125,000 125,000 ‐ 293‐5‐0602‐52‐011 TREE MITIGATION/LIGHTING Capital Improvements ‐ 22,000 ‐ ‐ 293‐5‐0602‐52‐200 FURNITURE, FIXTURES, & EQUIP Capital Improvements ‐ 293‐9‐0602‐90‐001 CAPITAL IMPROVEMENTS Capital Improvements ‐ 293‐9‐0602‐90‐002 DOWNTOWN PARKING Capital Improvements 30,840 70,000 70,000 100,000 100,000 293‐9‐0602‐90‐003 DTWN LANDSPING & PUBLC ART Capital Improvements ‐ 30,000 30,000 293‐9‐0602‐90‐004 AUSTIN AVE SIDEWALK 7TH‐8TH Capital Improvements ‐ 293‐9‐0602‐90‐005 100 AUSTIN AVE Capital Improvements ‐ 293‐9‐0602‐90‐006 GRAPE CREEK WINERY Capital Improvements ‐ 293‐9‐0602‐90‐007 GRACE HERITAGE CHURCH PLAZA Capital Improvements 200,000 200,000 ‐ 293‐5‐0602‐52‐012 STREET LIGHT UPDATES Capital Improvements ‐ 98,681 541,177 505,000 220,000 30,000 250,000 Page 8 of 32 t Page 9 of 32 - 20,000,000 40,000,000 60,000,000 80,000,000 100,000,000 120,000,000 Downtown TIRZ Value Base TIRZ Value Page 10 of 32 City of Georgetown, Texas Downtown TIRZ Board July 18, 2018 SUBJECT: Disc ussion, pres entatio n and p o s s ib le ac tion to recommend projec ts – Laurie Brewer, Assistant City Manager ITEM SUMMARY: Disc ussion, pres entatio n and p o s s ib le ac tion to recommend projec ts FINANCIAL IMPACT: N/A SUBMITTED BY: Laurie Brewer, As s is tant City Manager ATTACHMENTS: Description Type Downtown TIRZ DT Initiatives Pres entation Pres entation Page 11 of 32 Downtown Initiatives Update to the Downtown TIRZ Board (2018 and 2019 TIRZ funding) July 18, 2018 Page 12 of 32 Agenda •Background –guiding policies & practices •Downtown Partnerships •TIRZ history •FY2017 Status of Projects •FY2018 Planning/Funding Page 13 of 32 Guiding Policies/Studies •Downtown Master Plan (2013) •Downtown TIRZ –Project List (amended 2011) •Main Street Advisory Board Strategic Action Plan (2016) •Retail Study (2016) Page 14 of 32 Major Areas to Address •Infrastructure/Physical Elements –Sidewalks, Streets, Utilities, Parks, Facilities, Parking •Business Attraction/Retention •Marketing/Communication •Culture •Events Page 15 of 32 Results –Increment Value 37,072,593 37,072,593 0 5,132,306 7,306,522 16,151,470 22,455,010 23,095,114 27,926,702 30,444,805 33,271,838 37,024,764 41,586,296 51,308,781 50,966,868 55,927,407 61,927,407 0 20,000,000 40,000,000 60,000,000 80,000,000 100,000,000 120,000,000 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019* Page 16 of 32 Results –TIRZ revenue $17,771 $57,595 $82,269 $117,974 $162,724 $222,680 $237,227 $261,301 - 50,000 100,000 150,000 200,000 250,000 300,000 FY2006 FY2007 FY2008 FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019* Page 17 of 32 Downtown Partners •City –Main Street –CVB –Georgetown Arts and Culture –Planning, Parks and Rec and other support departments •Non-profits/Other –DGA –Williamson County Museum –Preservation Georgetown –The Palace Theater –Georgetown Art Works –Southwestern Page 18 of 32 Fiscal Year 2018 Accomplishments •TIRZ Funded –Historic street signs in overlay districts –Grace Heritage renovation (partial funding) –Preliminary engineering –parking expansions –Sidewalk access improvements and head in parking –9th/Main •Other Funding –Downtown West –construction –Grace Heritage renovation (mostly funded by Council) –Founders Park completion Page 19 of 32 Fiscal Year 2018 In Progress •Plaza, sidewalk, parking design work –Conjunction with Watkins insurance building –Improved access (slopes) and drainage –Sidewalk access improvements and head in parking along 9th •Transit station moved to library –Additional parking on Main to be constructed by Watkins developers –Estimated Cost -$100,000 •Installation of the Red Poppy Coffee/Library shade structure –Design to match Downtown West •Additional trash/recycling compactor Page 20 of 32 Page 21 of 32 Page 22 of 32 City Center Open Space City of GeorgetownPage 23 of 32 2019 Funding –Summary -$250K •General Repairs and Maint $120K •Parking expansion $100K •Arts/Culture –Bloomberg grant $30K Page 24 of 32 Bloomberg Grant •Develop outdoor space around library and City Center for public art and small performances/activities that support library –Contemplated in Downtown Master Plan –Design money to develop concept for grant application –Up to $1 million in award for public art project Page 25 of 32 Page 26 of 32 Page 27 of 32 Page 28 of 32 Page 29 of 32 Next Steps •Include 2019 recommendations for Council’s budget consideration •Council consideration of parking structure Page 30 of 32 Downtown Parking Structure •Approximately 140 new sp. •Cost -$5M estimate •Funding contemplates debt funding –50% from TIRZ revenue to repay •Appx $160K annually –50% from other tax base to repay Page 31 of 32 Next Steps •Review 5 year plan –Sidewalk projects to improve accessibility and enhance transportation network –Gateway signage –Parking improvements •Continue to leverage public improvements towards private investments (partnerships) •Emphasize arts and culture Page 32 of 32