HomeMy WebLinkAbout2011-03-07 TIRZ #3 Meeting Minutes TAX INCREMENT REINVESTMENT ZONE #3 — GLADE PARKS
BOARD OF DIRECTORS
MINUTES
March 7, 2011
The Board of Directors of the Tax Increment Reinvestment Zone #3 — Glade Parks met on
Monday, March 7, 2011, in the Precouncil Conference Room of City Hall in the Municipal
Complex, 201 North Ector Drive, Euless Texas.
The following persons were in attendance:
Council Member Glenn Porterfield, Vice-Chair
Mayor Pro Tem Linda Martin
Council Member Tim Stinneford
Tarrant County Representative Carolyn Sims
Tarrant County College District Representative Dr. Larry Darlage
JPS Health Network Representative Scott Rule
City Manager Gary McKamie, President
Assistant City Manager Chris Barker
Director of Economic Development Mike Collins
Finance Director Vicki Rodriquez, Treasurer
Deputy City Secretary Kim Sutter
Mayor Mary Lib Saleh and Deputy City Manager Loretta Getchell were not present.
Others present: Assistant Finance Director Jackie Theriot and Tarrant County Economic
Development Coordinator Lisa McMillan
ITEM 1. CALL TO ORDER
Vice-Chair Glenn Porterfield called the meeting to order at 5:00 p.m.
ITEM 2. APPROVAL OF MINUTES OF NOVEMBER 22, 2010, MEETING
Upon motion by Director Darlage and second by Director Martin, the minutes of the
November 22, 2010, meeting were approved by unanimous vote.
ITEM 3. APPROVAL OF RESOLUTION NO. 2011-02 TIRZ #3
City Manager Gary McKamie presented the Resolution for consideration, and advised
that approval of the Resolution dedicates revenue collected by the Zone and deposited
to the tax increment fund to the City of Euless for payment of debt service related to the
approved project costs and authorizes the repayment of cash contributions by the City
for approved project cost. The par amount of the debt issued is $2,854,870 and the
cash contribution is $180,130.
TIRZ#3 Minutes Page 2 of 2 March 7, 2011
Upon motion by Director Stinneford and second by Director Martin, Resolution No.
2011-02 TIRZ #3, approving the dedication of revenue from TIRZ #3 to the City of
Euless, was approved by unanimous vote.
ITEM 4. STAFF REPORT RELATED TO THE STATUS OF THE GLADE PARKS
DEVELOPMENT
City Manager Gary McKamie, Assistant City Manager Chris Barker, and Planning and
Economic Development Director Mike Collins provided an update regarding the Glade
Parks Development, including a brief overview of the project.
Vice-Chair Porterfield expressed his appreciation to the Tarrant County College District,
JPS Health Network, and Tarrant County for their participation as members of the Board.
ITEM 5. ADJOURNMENT
There being no further business, the meeting was adjourned at 5:13 p.m.
APPROVED:
Linda Martin
Mayor
ATTEST:
i Sutter, TRMC
Ci Secretary