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Home My WebLink AboutDowntown_TIRZ_Board_Agenda_7_29_2020_3527Notice of Meeting for the Downtown T I RZ B oard of the City of Georgetown July 29, 2020 at 2:00 P M at Virtual T he C ity of G eorgetown is committed to compliance with the Americans with Disabilities Act (ADA). If you require as s is tance in partic ipating at a public meeting due to a disability, as defined under the ADA, reas onable as s is tance, adaptations , or ac commodations will be provided upon request. P leas e c ontact the C ity S ec retary's O ffic e, at leas t three (3) days prior to the sc heduled meeting date, at (512) 930-3652 or C ity Hall at 808 Martin Luther King Jr. S treet, G eorgetown, T X 78626 for additional information; T T Y users route through R elay Texas at 711. Consiste nt with Gover nor Gr eg A bbott’s suspension of var ious provisions of the O pen M ee tings A ct, e ffec tive A ugust 1, 2020 and until fur the r notic e, to r educ e the c hance of C O V I D-19 tr ansmission, all C ity of Ge orge town Advisor y B oar d mee tings will be held vir tually. P ublic c omment will be allowed via telec onfer ence ; no one will be allowed to appear in pe rson. To par tic ipate, please copy and paste the following we blink into your browse r: Weblink: J oin M ic rosoft Te ams M ee ting +1 512-672-8405 Unite d State s, A ustin (Toll) Confe re nc e I D: 242 084 253# C itize n c omments ar e ac ce pte d in thre e diffe re nt formats: 1 . Submit wr itte n comme nts to shir le y.r inn@ge orge town.org by 1:00 p.m. on the date of the me e ting and the R ec ording S ec re tary will r e ad your comme nts i nto the r ec ording dur i ng the i tem that is being discussed. 2 . L og onto the me e ting at the li nk above and “r aise your hand” dur ing the ite m 3. Use your home /mobile phone to call the toll-fre e numbe r To join a Te ams me e ting, clic k on the li nk pr ovide d and joi n as an attende e. You wil l be asked to e nte r your name and e mail addr ess (this is so we c an ide ntify you whe n you are c all e d upon). To spe ak on an ite m, c li ck on the “Raise your H and” opti on at the bottom of the Zoom me eting we bpage onc e that i tem has opened. Whe n you ar e cal le d upon by the R e cor di ng Se cr etar y, your de vi ce wil l be re mote ly un-mute d by the Administr ator and you may spe ak for thre e minute s. P l e ase state your name c le arl y, and whe n your time Page 1 of 46 is over, your de vice will be muted again. Use of pr ofanity, thr eate ning language, slande rous r emarks or thr eats of harm are not allowed and wil l re sult i n you be ing imme di atel y r emove d fr om the mee ting. Regular Session (T his R egular S es s ion may, at any time, be rec es s ed to c onvene an Exec utive S es s ion for any purpose authorized by the O pen Meetings Act, Texas G overnment C ode 551.) A Disc ussion on how this virtual c onference will be c onducted, to inc lude options for public c omments and how the public may addres s the C ommis s ion – Dale R os s , C hair L egislativ e Regular Agenda B R eview the minutes fro m the Augus t 1, 2019 Downto wn G eorgetown Tax Increment R einvestment zone (T I R Z) Board Meeting –Mayor Dale R oss, C hair C P resentation of the annual financial report for the Downtown Tax Inc rement R einvestment Zone – Laurie Brewer, Assistant C ity Manager D Disc ussion, presentatio n and possible ac tion to recommend p ro jects – Laurie Brewer, As s is tant C ity Manager Adjournment Ce rtificate of Posting I, R obyn Densmore, C ity S ecretary for the C ity of G eorgetown, Texas, do hereby c ertify that this Notic e of Meeting was posted at C ity Hall, 808 Martin Luther King Jr. S treet, G eorgetown, T X 78626, a plac e readily acc es s ible to the general public as required by law, on the _____ day of _________________, 2020, at __________, and remained s o posted for at leas t 72 c ontinuous hours prec eding the s cheduled time of said meeting. __________________________________ R obyn Dens more, C ity S ec retary Page 2 of 46 City of Georgetown, Texas Downtown T I RZ Board July 29, 2020 S UB J E C T: Dis cus s ion on how this virtual conferenc e will be conduc ted, to include options for public comments and how the public may address the C ommission – Dale R oss, C hair IT E M S UMMARY: F IN AN C IAL IMPAC T: . S UB MIT T E D B Y: Danella Elliott Page 3 of 46 City of Georgetown, Texas Downtown T I RZ Board July 29, 2020 S UB J E C T: R eview the minutes from the Augus t 1, 2019 Downto wn G eo rgeto wn Tax Increment R einves tment zone (T I R Z) Board Meeting –Mayor Dale R os s , C hair IT E M S UMMARY: F IN AN C IAL IMPAC T: N/A S UB MIT T E D B Y: Danella Elliott AT TAC H ME N T S: Description Type Downtown TIRZ Minutes 8.1.19 Backup Material Page 4 of 46 MINUTES Downtown Georgetown Tax Increment Reinvestment Zone (TIRZ) City of Georgetown, Texas August 1, 2019 at 4:00 P.M. The Downtown Georgetown Tax Increment Reinvestment Zone (TIRZ) met on August 1, 2019 at 4PM in the City Hall Community Room at 808 Martin Luther King Jr Street, Georgetown, Texas. Board Members Present City Staff Present Mayor Dale Ross, Chair David Morgan, City Manager Rachael Jonrowe Laurie Brewer, Assistant City Manager Trisha Tallman Danella Elliott, Executive Assistant Rusty Winkstern Paul Diaz, Budget Manager Eric Lashley, Library Director Kim McAuliffe, Downtown Development Manager Beth Wade, Information Specialist Eric Johnson, CIP Manager Laci Grobler, Sr Accountant Eric Nuner, Asst Parks and Rec Director Amy Mertink, Finance Admin Board Members Absent Guests Present Karen Soeffker Legislative Regular Agenda A. Call to Order Mayor Ross called the meeting to order at 4:02pm B. Review minutes from the July 18, 2018 Downtown Georgetown TIRZ Board Meeting - Amy Mertink, Board Liaison Motion to approve the minutes by Trisha Tallman; second by Rachael Jonrowe. Approved 4-0 C. Presentation of the Annual Financial Report for the Downtown Georgetown TIRZ - Paul Diaz, Budget Manager Paul Diaz reviewed the FY2019 projections and the FY2020 proposed budget, including the details of the FY2020 revenues and expenses. Paul also explained in more detail the CIP expenses for FY2020. He then reviewed the TIRZ value trends and the growth over the last few years. D. Discussion, presentation and possible action to recommend projects – Laurie Brewer, Assistant City Manager Laurie Brewer reviewed the background and guiding policies of the Downtown TIRZ and then reviewed the status of various projects in the downtown area, including both TIRZ funded projects and projects completed with other funding. Laurie also reviewed the plan for the downtown parking structure. Rachael Jonrowe expressed concerns about using such a large amount of the TIRZ funds for the parking structure. The board briefly discussed the pricing of the project and it was clarified that the parking structure has a higher price than a typical parking garage due to its location being downtown and a need for aesthetics. Page 5 of 46 MINUTES Downtown Georgetown Tax Increment Reinvestment Zone (TIRZ) City of Georgetown, Texas August 1, 2019 at 4:00 P.M. E. Presentation of Public Art and Outdoor spaces – Eric P. Lashley, Library Director Eric Lashley reviewed the new art in the downtown area and in the new city buildings. He also discussed the conceptual plans for the city center and showed preliminary design ideas. Concerns were also reviewed which included parking, restroom facilities, and traffic. Outreach will be done and public meetings will be held before moving forward. Funding options and the possibility of using grants will also be researched. Adjournment Motion to adjourn at 4:50 by Trisha Tallman; second by Rachael Jonrowe. Approved 4-0. __________________________________ ____________ Mayor Dale Ross Date Board Chair __________________________________ ____________ Amy Mertink Date Board Liaison Page 6 of 46 City of Georgetown, Texas Downtown T I RZ Board July 29, 2020 S UB J E C T: P res entation of the annual financ ial report for the Downtown Tax Increment R einves tment Zone – Laurie Brewer, As s is tant C ity Manager IT E M S UMMARY: An annual meeting of the T I R Z b o ard is req uired b y the by-laws. T his is traditio nally c o mp leted in late S ummer, so that the b o ard c an review the previo us year ’s financial ac tivity, as well as have a p review o f the upc oming budget proposal for the T I R Z. S P E C IAL C O N S ID E R AT ION S : C ouncil is sc heduled to ac t on all c omponents of the F Y2021 budget in August 2020. F IN AN C IAL IMPAC T: N/A S UB MIT T E D B Y: Danella Elliott AT TAC H ME N T S: Description Type Downtown TIRZ Presentation and Financial Report Pres entation Page 7 of 46 FY2021 Annual Budget Downtown Tax Increment Reinvestment Zone Fiscal Year 19 Year End Balances Fiscal Year 20 and 21 Budget Update Page 8 of 46 FY2021 Annual Budget Tax Increment Reinvestment Zones •Also called TIF –Tax Increment Financing •Geographical area where property tax revenues are dedicated from incremental increase in assessed values towards improvements in the zone –Property would not develop otherwise •Sets aside additional revenue accrued due to valuation increases after establishment of TIRZ –Improvement plan is approved –Revenues to be utilized towards improvements in the district •Authorized by Texas Constitution and Chapter 311 of Tax Code Page 9 of 46 FY2021 Annual Budget Role of Board •Advisory to the Council –Council is final decision point for TIRZ activity •Board approves/recommends the project and funding plans •Annual meetings required to review financial activity Page 10 of 46 FY2021 Annual Budget Background •Created to support the infrastructure for the Downtown Master Plan –Updated 2014 •TIRZ began 2003 –Expanded in 2014 –End Date 2044 •100% of City tax increment Page 11 of 46 FY2021 Annual Budget Project Plan Page 12 of 46 FY2021 Annual Budget Expanded Boundaries of TIRZ in 2014 Page 13 of 46 FY2021 Annual Budget FY2020 Projections •After the CAFR process, the FY2019 ending balance totaled $497,346. •FY2020 revenues are projected to finish the year at budget •FY2020 expenses are projected to finish $464,645 21% less than budget. –Timing of maintenance. Page 14 of 46 FY2021 Annual Budget FY2021 Budget •FY2021 revenues total $345,580, which represents an increase of 14.8% over FY2020 projections. –Continue to see growth in assessed value in the TIRZ Page 15 of 46 FY2021 Annual Budget TIRZ Value Year Total AV Tax Rate TIRZ Value TIRZ Revenue Base TIRZ Value2 FY2005 37,072,593 - - 37,072,593 - FY2006 42,204,899 0.34626 5,132,306 17,771 37,072,593 5,132,306 FY2007 44,379,115 0.36728 7,306,522 26,835 37,072,593 7,306,522 FY2008 53,224,063 0.35659 16,151,470 57,595 37,072,593 16,151,470 FY2009 59,527,603 0.35622 22,455,010 79,989 37,072,593 22,455,010 FY2010 60,167,707 0.35622 23,095,114 82,269 37,072,593 23,095,114 FY2011 64,999,295 0.35622 27,926,702 99,480 37,072,593 27,926,702 FY2012 67,517,398 0.3875 30,444,805 117,974 37,072,593 30,444,805 FY2013 70,344,431 0.41 33,271,838 136,415 37,072,593 33,271,838 FY2014 74,097,357 0.4395 37,024,764 162,724 37,072,593 37,024,764 FY2015 78,658,889 0.434 41,586,296 180,485 37,072,593 41,586,296 FY2016 88,381,374 0.434 51,308,781 222,680 37,072,593 51,308,781 FY2017 88,039,461 0.424 50,966,868 216,100 37,072,593 50,966,868 FY2018 93,022,411 0.42 55,949,818 234,989 37,072,593 55,949,818 FY2019 99,287,162 0.42 62,214,569 261,301 37,072,593 62,214,569 FY2020 108,716,972 0.42 71,644,379 300,906 37,072,593 71,644,379 FY2021 116,234,422 0.42 79,161,829 332,480 37,072,593 79,161,829 Page 16 of 46 FY2021 Annual Budget Page 17 of 46 FY2021 Annual Budget FY2021 Budget •FY2021 expenses total $600,000 –Maintenance $150,000 –Administration -$10,000 •Includes fees for appraisal district, tax collection, accounting/finance, legal and city management –$15,000 Art –$150,000 for shade structures –$75,000 for Phase 1 city center –$125,000 Demolition of blue building –$75,000 Parking/Sidewalks Page 18 of 46 FY2021 Annual Budget Fund Schedule FY2019 Actuals FY2020 Budget FY2020 Projected FY2021 Base Budget FY2021 Changes FY2021 Budget Beginning Fund Balance 443,943 509,141 497,346 337,828 - 337,828 Revenue FY2019 Actual FY2020 Budget FY2020 Projected FY2021 Base Budget FY2021 Changes FY2021 Budget Allocated Interest 9,139 4,000 5,000 1,000 1,000 Transfer In - Temporary 259,514 300,906 300,127 345,580 345,580 Grand Total 268,653 304,906 305,127 346,580 346,580 Expense FY2019 Actual FY2020 Budget FY2020 Projected FY2021 Base Budget FY2021 Changes FY2021 Budget Transfer Out - Temporary - 167,500 - - - - Maintenance - Miscellaneous 139,355 190,000 85,000 150,000 - 150,000 Furniture and Fixtures 13,655 - - 15,000 - 15,000 Engineering Services 830 3,250 40,000 - - - Construction 79,205 339,645 339,645 425,000 - 425,000 Administative Allocation - Joint 5,000 - 5,000 Administative Allocation - General - - - 5,000 - 5,000 Grand Total 233,045 700,395 464,645 600,000 - 600,000 FY2019 Actuals FY2020 Budget FY2020 Projected FY2021 Base Budget FY2021 Changes FY2021 Budget Ending Fund Balance 479,551 113,652 337,828 84,408 - 84,408 CAFR Adjustment 17,795 - - - - - Contingency - - - - - - Reserved for Capital - 66,845 66,845 - - - Available Fund Balance 497,346 46,807 270,983 84,408 - 84,408 Page 19 of 46 FY2021 Annual Budget Questions Page 20 of 46 City of Georgetown, Texas Downtown T I RZ Board July 29, 2020 S UB J E C T: Dis cus s ion, presentatio n and possible ac tio n to rec o mmend projec ts – Laurie Brewer, As s is tant C ity Manager IT E M S UMMARY: F IN AN C IAL IMPAC T: N/A S UB MIT T E D B Y: Danella Elliott AT TAC H ME N T S: Description Type Downtown Initiatives Pres entation Pres entation Page 21 of 46 Downtown Initiatives Update to the Downtown TIRZ Board (2020 and 2021 Funding Update) July 29, 2020 Page 22 of 46 Agenda •Background –guiding policies & practices •Downtown Partnerships •FY2020 Status of Projects •FY2021 Planning/Funding Page 23 of 46 Guiding Policies/Studies •Downtown Master Plan (2013) •Downtown TIRZ –Project List (amended 2011) •Main Street Advisory Board Strategic Action Plan •Economic Development Strategic Plan Page 24 of 46 Eligible Expenditures Page 25 of 46 Major Areas to Address •Infrastructure/Physical Elements –Sidewalks, Streets, Utilities, Parks, Facilities, Parking •Business Attraction/Retention •Marketing/Communication •Culture •Events Page 26 of 46 Results –Increment Value 37,072,593 37,072,59337,072,59337,072,593 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 62,214,569 71,644,379 79,161,829 0 20,000,000 40,000,000 60,000,000 80,000,000 100,000,000 120,000,000 140,000,000 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021* Page 27 of 46 Results –TIRZ revenue $17,771 $57,595 $82,269 $117,974 $162,724 $222,680 $237,227 $261,301 $300,906 $332,480 - 50,000 100,000 150,000 200,000 250,000 300,000 350,000 Page 28 of 46 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 29 of 46 Fiscal Year 2020 Accomplishments •TIRZ Funded –8th and MLK Parking (partial funding TIRZ) Page 30 of 46 Fiscal Year 2020 Accomplishments •TIRZ Funded –Blue Hole Parking •(partial funding TIRZ) Page 31 of 46 Fiscal Year 2020 Accomplishments •TIRZ Funded –Electric Upgrades –Poppy Stage moved to 7th and Austin –Grace Heritage Plaza •Lighting in progress Page 32 of 46 Fiscal Year 2020 Accomplishments •Parking Garage – Stakeholder Design Feedback finalized •Design elements applicable to multiple locations –Height –one level below grade Page 33 of 46 FY20 Sidewalk Improvements (bond funded) Page 34 of 46 Fiscal Year 2020 –Art (Recycled Street Sign sculpture to be installed across from library) Page 35 of 46 Fiscal Year 2021 Page 36 of 46 Fiscal Year 2021•Phase 1 –City Center - $75,000 –Design in progress with Covey Landscape –Shotgun House landscaping and educational kiosk •Work with TRG Neighborhood on public outreach and input for stories and photos to include Page 37 of 46 City Center, Phase 1 –cont’ •Design in progress •Site Two –9th St & Martin Luther King Jr. St. •Demolition Plan •Schematic Design –2A & 2B •Site Design –2B •Construction Documents –2B •Public input process 17Page 38 of 46 • Demo plan for building at 9th and MLK Fiscal Year 2021 Con’t •Demolition of Building at 9th and MLK •Opens area for outdoor activity •Potential shade structure •Public input/stakeholder guidance Page 39 of 46 Fiscal Year 2021 •Downtown dining and art area •Work with business stakeholder group •Extension of Founders Park and Grace Plaza •Potential assistance from Texas Commission on the Arts Page 40 of 46 Fiscal Year 2021 •Art –Mural – •Potentially grant funded –Texas Commission on the Arts Page 41 of 46 FY2021 –Sidewalk Program (bond funded) Page 42 of 46 Continued Work •Design on City Center •Add design/landscaping where needed for Sidewalk Master Plan projects •Trash Concierge Service –Potentially supplement service to implement increased rates for businesses over time Page 43 of 46 FY2021 Budget •FY2021 expenses total $600,000 –Maintenance $150,000 –Administration -$10,000 •Includes fees for appraisal district, tax collection, accounting/finance, legal and city management –$15,000 Art –$150,000 for shade structures –$75,000 for Phase 1 city center –$125,000 Demolition of blue building –$75,000 Parking/Sidewalks •Stakeholder input to drive design elements Page 44 of 46 Next Steps •Include 2021 recommendations for Council’s budget consideration –August/September •Future Work –Council consideration of parking structure –Design Guideline Update –Update to Downtown Master Plan –Update to Economic Development Strategic Plan –Concierge Trash Service Page 45 of 46 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 46 of 46