HomeMy WebLinkAboutMinutes_Wolf Lakes TIRZ_08.05.2021Minutes
Wolf Lakes Tax Increment Investment Zone (TIRZ) Board
City of Georgetown, Texas
August 5, 2021 at 1:30 PM
The Wolf Lake Tax Increment Investment Zone (TIRZ) Board met on August 5, 2021 at 1:30 PM at City Hall, 808
Martin Luther King Jr Street, Georgetown, Texas
Board Members Present:
IMayor JoshSchroeder, Chair
David Morgan, City Manager
Sofia Nelson, Planning Director
Val Covey, Commissioner Precinct 3
Shawn Hood, City Council District 2
Cit Staff_Present:
Laurie Brewer, Assistant City Manager
Leigh Wallace, Finance Director
Elaine Wilson, Assistant Finance Director
Sharon Parker, Board Liaison
Others resent:
Regular Agenda:
Board Members Absent;:
Kevin Cummins, GEDCO Board
Mayor Josh Schroeder Called the meeting to order at 1:30 - p.m.
A. Consideration and possible action to approve the minutes from the July 31, 2020 Wolf Lake Tax
Increment Reinvestment Zone (TIRZ) Meeting — Mayor Josh Schroeder, Chair.
Motion to approve the minutes as presented by Val Cove second by Stir Nelson.Approved_
5-0 Kevin Cummins absent.
T. Presentation of the annual inanc a report r t e Wol Lake Tax Increment Reinvestment Zone —
Leigh Wallace, Finance Director
Leigh Wallace, Finance Director provided an overview of the Board membership, as well as an overview
of Tax Increment Financing/Tax Increment Reinvestment Zones, their purpose, how they are utilized, as
well as the role of the Advisory Board. She also presented a map that outlined the TIRZ Boundary.
Discussion: Development agreement, key to getting reimbursed — where are we on this? Not anywhere
at this time. Assume they will ask for reimbursement. Working on Wastewater line now, building the
stormwater infrastructure. Between Seton and HEB that would qualify for the minimum square foot.
Seton doesn't pay taxes? Initially it will be medical offices no hospital. Are the numbers still good with
the total build out? Its to early to tell. We can ask for a project update. The connections that TXDOT are
talking about — are they going to put a tunnel, main lanes, or auxiliary lanes? Is there anyway since the
Minutes
Wolf Lakes Tax Increment Investment Zone Board
City of Georgetown, Texas
development agreement hasn't happenedtoput that part in there to allow for what needs tDhappen?
With modeling the TlAwith the type ofemployment density that they»erc�ec1in�aspartofmhat'sa«aikab|e«iththeZon/ng. Then TKDOTwould have tohave the special exits that went tothe bypass lane
tucreate the tunnel which adds about $25million b/cost tothe /ntersection TxDOT is turning around
looking atthe county �rst.The County and the Ch»are local partidpadon '—''eydon'�xvantth�tunne/
|fyou don't develop the deve|mpmnenttothe dens.�t�then the T|RZi snot going'
tppe�ornnthewayyou
want |tto. Dnm/e get todetermine what isreimbursable through the deve|opmnentagreernent?/fvve
m/anttoindude this, you m/i/(have tuconneback asaT|RZboard and update
�the project p|an Over the
next year one oftxvothings vvi|/need probably happen - proposed deve|opnnentagreennent-and the
ongoing discussion with TxDot about the intersection. Is it part of this TIRZ boards job to decide which
part ofthe cost that should bereimbursable? The board w/Uplan d1
modification. You also recomnnendthe approval ofthe deve|opnnentagreement tn council. We
tmmeet again before next year. There isabothe discussion ofxvhatthe / 'VVewU/n�ed
plan was when this T/RZvvaa
created verses what their plan isnow. Now that they are adding the whole section with HE8 The way
things are developing w/em/ou|dnot benecomnnendingtocouncUtofloat abond and then u'eT|R2
dollars tmneimmburseusfor the added cost ofthe TxDutintersection. Can m/esay intotal the
�ondsare
going tobesold vvhenyou hit the limits and xve,dtyand county xvhphave paid inmnr fort"
could get reimbursed? Can TxDotnnandatelocal participation? 0o theycansaythisise�tthose roads.
built vvithoutyour partidpation.They can say this iaw/hatvvear��'ingtobui/dTh n �m/n8tmbe
T|Aandtheasaunnptimnofthetunne|.|nthedeve/opnnenta8ree'mun�the/is�—yit�re/saP|�nw/ith�he
...` v rxm that are
reimbursed, can agreement, ''^
, ea�reennent,butthe|ististhesanne.
NnAction Needed
MDavid to ~
.' [Jos� �ehr --der
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