HomeMy WebLinkAboutRDAP-2016-09 2016-09-26RESOLUTION NO. RDAP-2016-09
A RESOLUTION OF THE DEVELOPMENT AUTHORITY OF PEARLAND
(DAP), TEXAS AUTHORIZING A DEVELOPER REIMBURSEMENT TO
SHADOW CREEK RANCH DEVELOPMENT COMPANY TO REIMBURSE
FOR TIRZ INFRASTRUCTURE IMPROVEMENTS IN THE AMOUNT OF
$5,625,000, PLUS THE AMOUNT RECEIVED FROM TEA FOR 2015
SUPPLEMENTAL TAXES.
BE IT RESOLVED BY DAP BOARD OF DIRECTORS:
Section 1. That the Board of Directors hereby authorizes a cash
reimbursement in the amount of $5,625,000 to Shadow Creek Ranch
Development Company LTD for TIRZ infrastructure improvements, plus the
amount received from TEA for 2015 supplemental taxes.
PASSED, APPROVED, AND ADOPTED this 10t" day of October A.D 2016.
(4-612
TOM REID
Chair
Development Authority ofPearland
Chairman
ATTEST:
Ade
ED BAKER
Secretary
Development Authority of Pearland
Account Account Description
Current YTD
Balance
Balance Sheet
Through 08/31/16
Detail Listing
Include Rollup Account/Rollup to Base Account
Net Change Change %
Fund Category Other
Fund Type
Fund 920 - Development Authority
ASSETS
1000 Cash
1000.030 Cash DAP Wells Fargo
1000.060 Cash DAP Regions Bank Debt Service
FUND EQUITY
2950 Fund Balance - Unassigned
Prior Year Fund Equity Adjustment
Fund Revenues
Fund Expenses
1000 - Cash Totals
ASSETS TOTALS
FUND EQUITY TOTALS Prior to Current Year Charges
FUND EQUITY TOTALS
LIABILITIES AND FUND EQUITY TOTALS
Fund 920 - Development Authority Totals
Fund Type Totals
Fund Category Other Totals
Grand Totals
Cash Analysis for Reimbursement
Cash and Cash Equivalents
Plus Wire from Regions
Total Monies Available
less:
DS Reserve
Operating Costs
Total Funds to be Held
Monies Available for Cash Reimbursement
Cash Developer Reimbursement
6,031,552.10 6,031,552.10
7,425,410.50 7,425,410.50
+++
$13,456,962.60 $13,456,962.60
+++
$13,456,962.60 $13,456,962.60
1,956,533.73 1,956,533.73
+++
$1,956,533.73
.00
(78,957,195.69)
67,456,766.82
$1,956,533.73
+++
$13,456,962.60 $13,456,962.60
513,456,962.60 $13,456,962.60
$0.00 $0.00
$0.00 $0.00
$0.00 $0.00
$0.00 $0.00
6,031,552.10
607,136.00
6,638,688.10
1,000,000.00
15,000.00
1,015,000.00
5,623,688.10
5,625,000.00
+++
Run by Rick Overgaard on 09/19/2016 16:56:23 PM Page 1 of 1