Title
Consider/Discuss/Act on an Ordinance of the City Council of the City of McKinney Amending Ordinance 2011-04-016 to Modify Reinvestment Zone Number Two’s Board Meeting Requirements
Summary
COUNCIL GOAL: Operational Excellence
MEETING DATE: January 17, 2017
DEPARTMENT: City Council
CONTACT: Council member Travis Ussery
Sandy Hart, TRMC, MMC, City Secretary
STAFF RECOMMENDATION: Approve Ordinance
ITEM SUMMARY:
• The current Bylaws for Reinvestment Zone Number Two, Section 3 (d) states:
(d) Each year the City Council shall annually designate one (1) member of the Board of Directors to serve as chairman for a one (1)-year term that begins on January 1 of the following year. The Board of Directors shall elect from its members a vice chairman to preside in the absence of the chairman or when there is a vacancy in the office of chairman. The Board of Directors may elect other officers as it considers appropriate. The Board of Directors shall meet at least quarterly throughout each year.
• Since 2010, the Board has not held the required quarterly meetings. In most years, the board has met three times or less.
• As written, the proposed Ordinance will change the meeting frequency to at least once per year or otherwise, as needed.
• The proposed Ordinance will also consolidate the information contained in previous Ordinances for TIRZ No. 2 (Ordinance No. 2010-09-035, Ordinance No. 2010-10-041, and Ordinance 2011-04-017) and the proposed Ordinance shall supersede the previous Ordinances established for TIRZ No. 2.
BACKGROUND INFORMATION:
• On September 21, 2010, the McKinney City Council approved Ordinance No. 2010-09-035, creating Tax Increment Reinvestment Zone Number Two (“TIRZ No. 2”) and establishing a Board of Directors for such zone (and as amended on October 19, 2010 by Ordinance Number 2010-10-041 and April 5, 2011 by Ordinance 2011-04-017).