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Consider/Discuss/Act on a Resolution Appointing Members to the Reinvestment Zone Number One and Ratifying the Prior Appointments to Reinvestment Zone Number Two
Summary
COUNCIL GOAL: Operational Excellence
MEETING DATE: July 21, 2015
DEPARTMENT: City Secretary
CONTACT: Sandy Hart, TRMC, MMC
RECOMMENDED CITY COUNCIL ACTION: Approve Resolution
ITEM SUMMARY:
• The Board of Directors shall be appointed by resolution or ordinance of the City or applicable taxing jurisdiction.
• All members of the Board of Directors shall meet eligibility requirements as set forth in Chapter 311 of the Texas Tax Code.
• On June 22, 2015, the City Council appointed Tracy Rath, Chuck Branch, and Rainey Rogers to serve on the Reinvestment Zone Number Two Board.
• Staff recommends appointing Tracy Rath, Chuck Branch, and Rainey Rogers to serve on Reinvestment Zone Number One.
BACKGROUND INFORMATION:
• On September 21, 2010, the City Council adopted Ordinance 2010-09-034 establishing tax increment financing reinvestment zone (“TIRZ”) known as “Reinvestment Zone Number One.”
• Ordinance Number 2011-04-016 established a Board of Directors comprised of nine members for the TIRZ and provided that the City Council shall be entitled to appoint a minimum of eight (8) board members to staggered two (2) year terms and also provides that the City Council shall endeavor to appoint a member of the Planning and Zoning Commission to serve a board term concurrent with such member’s Planning and Zoning Commission term.
FINANCIAL SUMMARY: N/A