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2005-03-28 TAX INCREMENT REINVESTMENT ZONE NO. 2 BOARD MEETING MINUTESMINUTES OF THE BOARD OF DIRECTORS MEETING TAX INCREMENT REINVESTMENT ZONE NUMBER TWO CITY OF PEARLAND, TEXAS March 28, 2005 A special meeting of the Board of Directors ("Board") of the Tax Increment Reinvestment Zone Number Two ("Zone"), City of Pentland, Texas, was held in the Council Chambers of City Hall, which is located at 3519 Liberty Drive, Pearland, Texas, on Monday, March 28, 2005, at 4:30 p.m. The meeting was open to the public. Board Members in Attendance: Gary Cook Mike Pyburn Larry Loessin Gary Davis Jo Knight Board Members Not in Attendance: Nigel Harrison Ron Castillo Donna Coleman City of Pentland Representatives in Attendance: Consultants in Attendance: Alan Mueller Lynne Humphries — Allen Boone Humphries, LLP Andrea Gardner Sue Darcy — Knudson & Associates 4. Charles Knight — Knudson & Associates Developer in Attendance: James Ross — LJA Engineering & Surveying, Inc. Drew Pelter — Shadow Creek Ranch Development Co. 1. Call the meeting to order, take attendance and verify that a quorum is present. Mr. Cook called the meeting to order at 4:35 p.m. and took attendance. The following Directors were present: 1. Gary Cook 2. Mike Pyburn 3. Larry Loessin 4. Gary Davis 5. Jo Knight Board Members Nigel Harrison, Ron Castillo and Donna Coleman were not in attendance. 2. Discuss and approve the minutes of the December 17, 2005 Board meeting. Board Member Davis moved that the Board approve the minutes of the December 17, 2005 meeting. Board Member Knight seconded the motion. Following discussion, the Board unanimously approved the motion. 6. Quarterly financial report from the City. The Board elected to consider agenda item number 6 at this time. Andrea Gardner, Finance Director for the City of Pearland, reviewed with the Board the T1RZ Income Statement for the five months ended February 28, 2005, the Alvin Independent School District Suspense Fund Report and the TIRZ Balance Sheet as of February 28, 2005. The Board requested that future Alvin Independent School District Suspense Fund Reports maintain the level of detail found in this report, to which Ms. Gardner agreed. The Board took no action on this report. 10. Discuss and recommend 2004 Annual Report be presented to City Council for approval. 5. Project report from the Developer and PowerPoint Presentation; take appropriated action. The Board elected to consider agenda item numbers 10 and 5 at this time. Charles Knight with Knudson & Associates reviewed the 2004 Annual Report with the Board. Board Member Pyburn requested that the Board continue to receive the Budget Reports with MUD -funded project costs broken out. He indicated that such figures could be included in the Engineers Report. Drew Pelter with Shadow Creek Ranch Development Company reported on development activities to date. Specifically, 4,112 lots have been developed to date. Construction of two recreation centers has been completed, as has 20 miles of hiking and biking trails. Construction on five letter financing agreements has been completed to date, with construction related to six or seven additional letter financing agreements expected to be complete by 2006. Currently, 20 builders are working in Shadow Creek Ranch and 1,546 homes have been sold, with 405 under construction. Construction on the first multi -family project is expected to begin in May 2005, and the HCA groundbreaking is scheduled for this month. The first day care center will open in two months and construction of 16 of the 19 planned lakes has been completed. Following Mr. Pelter's report, Board Member Knight moved that the Board approve the 2004 Annual Report and recommend that it be presented to City Council for approval. Board Member Pyburn seconded the motion. Following discussion, the Board unanimously approved the motion. 3. Discuss and take necessary action regarding approval of Joint Construction and Reimbursement Agreement with Brazoria County MUD No. 26: a. Water, Sanitary Sewer and Drainage Facilities to serve Shadow Creek Ranch Reflection Bay North. 4. Discuss and take necessary action regarding approval of Joint Construction and Reimbursement Agreement with Brazoria-Fort Bend County MUD No. 1: 2 a. Channel A128-01-00 (4). The Board elected to consider agenda items 3.a and 4.a together. Lynne Humphries with Allen Boone Humphries Robinson reviewed the Joint Construction and Reimbursement Agreement with Brazoria County MUD No. 26 for construction of water, sanitary sewer and drainage facilities to serve Shadow Creek Ranch Reflection Bay North, as well as the Joint Construction and Reimbursement Agreement with Brazoria-Fort Bend County MUD No. 1 for construction of Channel A128-01-00 (4). Board Member Davis moved that the Board approve and execute the Joint Construction and Reimbursement Agreement with Brazoria County MUD No. 26 for construction of water, sanitary sewer and drainage facilities to serve Shadow Creek Ranch Reflection Bay North, as well as the Joint Construction and Reimbursement Agreement with Brazoria-Fort Bend County MUD No. 1 for construction of Channel A128-01-00 (4). Board Member Knight seconded the motion. The Board unanimously approved the motion. 7. Report on current TIRZ lobbying activities in legislative session. Sue Darcy with Knudson & Associates directed the Board's attention the CRC reports, which were included in the packets for today's Board meeting. She noted that the narrow passage of HB 2, also known as the "Hold Harmless" bill, keeps the TIRZ's jurisdictional participation whole in the event of any funding changes resulting from State law. The Board took no action on the report. 8. Discuss and take necessary action regarding approval of updated billing rates for LJA Engineering & Surveying, Inc., Engineers for the Zone. James Ross with LJA Engineering & Surveying, Inc. reviewed the updated billing rates with the Board. The Board requested that they be provided with a comparison of the proposed rates with the rates of the original contract. Board Member Pyburn moved that the Board approve the updated billing rates for LJA Engineering & Surveying, Inc. Board Member Davis seconded the motion. Following discussion, the Board unanimously approved the motion. 9. Discuss and take necessary action regarding Auditor's Report on TIRZ Invoices Presented for Payment and approval of outstanding administrative invoices to date. Charles Knight reviewed the Auditor's Report on TIRZ Invoices Presented for Payment and approval of outstanding administrative invoices to date. Board Member Davis moved that the Board approve the Auditor's Report on TIRZ Invoices Presented for Payment and approve the outstanding administrative invoices to date, which totaled $27,299.61. Board Member Knight seconded the motion. Following discussion, the Board unanimously approved the motion. 3 11. New Business. Alan Mueller stated that at tonight's City Council meeting, the Council would discuss nominees to replace Board Member James McFeron during its executive session. 12. Any other matters which may properly come before the Board. No other matters were brought before the Board. 13. Adjournment. There being no further business, Board Member Pyburn moved that the meeting be adjourned. Board Member Davis seconded the motion. Following discussion, the Board unanimously approved the motion and the meeting was adjourned at 5:25 pm. Board Secretary Tax Increment Reinvestment Zone Number Two City of Pearland, Texas