2021-02-04 TAX INCREMENT REINVESTMENT ZONE NO. 2 BOARD MEETING MINUTES MINUTES OF THE BOARD OF DIRECTORS MEETING
TAX INCREMENT REINVESTMENT ZONE NUMBER TWO/SHADOW CREEK RANCH
CITY OF PEARLAND TEXAS
FEBRUARY 4, 2021 14.00 P.M
VIA WEBEX VIDEO/TELEPHONE CONFERENCE
I. CALL TO ORDER AND ROLL CALL
Chair Phillips called the meeting to order at 4.01 p.m by introducing himself and requesting that each
attendee do the same. Ms. Daugherty stated that this would be her last meeting, and introduced
each attendee /
Henry Fuertes, on P&Z commission, new board member
Ali Hasanali, Ft Bend County representative board member/
Tommy King, representative of State Rep Ed Thompson board member
David Selsky, new board member > \ '\
Michael Slevens, new board member
Buck Stevens, representative of Senator Larry Taylor board member
Geoff Tonini, representative of Alvin ISD board member
Trent Epperson, Deputy City Manager, City of Pearland
Shamaira Jagrup, Treasury Manager forCity of Pearland
Clay Pearson, City Manager
Robert Upton, Director of Engineering for`City of Pearland \
Kristen Woolley, Interim Finance Director;."City of Pearland
Everett Deao/LJA filling in for.James Ross. `
Crystal Horn/McGrath &Co. auditor,preparer of developer reimburserpent reports
Lynne Humphries/ABHR attorney.tor'the TIRZ
Suewan Johnson/ABHR"attorney for the TIRZ
Alan Mueller, Sue Darcy,and Jan Buehler with Marsh Darcy Partners administrators for the TIRZ
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A quorum of directors was declared. -Chair.Phillips stated that Mr Mueller would be the moderator
of the meeting:`
II. PUBLIC COMMENTS ,
There were no comments.\
III. PURPOSE OF HE,MEETING:p
1
1 Consideration and Possible Action - Regarding the Regular Meeting Minutes of the
September 23, 2020, Tax Increment Reinvestment Zone Number 2 (TIRZ No. 2) Board of
Directors Meeting.
A motion by Director Stevens to approve the Regular Meeting Minutes of September 23, 2020
as presented was seconded by Director King, and passed unanimously
2. Consideration and Possible Action
a. Acknowledgement of service by Herbert Fain to the Board.
Mr Mueller presented the Commemorative Resolution Acknowledging the Service of Herbert
Fain to Tax Increment Reinvestment Zone No 2 Shadow Creek Ranch.
A motion by Director Fuertes to approve the Resolution as presented was seconded by Director
Hasanali, and passed unanimously
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b. Elect Board Vice Chair
Mr Mueller requested a volunteer to serve as Vice Chair to perform the duties of Chair in their
absence Chair Phillips suggested that, since the City had appointed him, a representative from
Brazoria County, Alvin ISD, or Fort Bend County would be appropriate After discussion of
Director King's longtime involvement with the TIRZ, he expressed willingness to serve. Chair
Phillips requested election of Director King as Vice Chair by acclimation, which passed
unanimously
3. Consideration and Possible Action - Financial Report for the period ending December
31, 2020 (unaudited).
Ms. Daugherty reviewed the Income Statement through December 31, 2020 noting the TIRZ
has collected $10.9 million in property tax revenue to date from the City of Pearland She also
noted that Brazoria County, Alvin ISD and Fort Bend County as well as supplemental property
taxes reflect zero on the report since those entities transfer their increment quarterly or annually
which will be posted near the end of the fiscal year September 30, 2021 The report indicated
that investment earnings were just under$3,000,.invoices approved and paid under$4,000,
administrative fees paid to the City under$7 million;and a net gain•of$3.9 million.
A motion by Director Tonini to approve the,Financial Report as presented was seconded by
Director Stevens, and passed unanimously
4 Consideration and Possible Action -Investment•.Reportfor the Quar`ter,Ending December
2020 `
Ms. Jagrup presented the Quarterly Investment Report fog the period ending December 31,
2020 noting the ending book value of$10.8 million which:was $3.9 million higher than previous
quarter due to property taxes collected}less'TIRZ administration fees. She reported that interest
earned in the quarter of-$2;700 which was,$3,300.less.than the previous quarter She reported
on the decline of inteiest.rates stating that no investmenthee had been purchased over the
previous year Due to-that, all'funds remain in>the,operating,account and the Alvin ISD
suspense funds account.
A motion by Director Selsky totapprove the Investment Report as presented was seconded by
Director.Fuertes and^passed unanimously. `t
N..
5. Consideration and PossibleAction—Ratification of invoices authorized for payment by
the Invoice Review Committee-ar►d approv ng invoices presented for payment.
Mr Muellei'stated that the\lrivloice Review Committee (IRC) consists of Directors Phillips and
King who review consultants .ihvoices on.a monthly basis. Reviewing the summary list of
invoices, Mr Mueller stated thatinvoices 1-11 were reviewed and recommended by the IRC
and paid by the City and presented to be ratified by the board Also, newly-received invoices 12
and 13 had not been reviewed by the IRC and are presented for board approval. Discussion
followed with all questions'being answered satisfactorily
A motion by Chair Phillips.that the action on invoices 1-11 of the Invoice Review Committee be
ratified and invoices 12-13 be approved for payment was seconded by Director Selsky and
passed unanimously
6. Consideration and Possible Action— New Letter Finance Agreements.
a. LFA 21-02-001 Shadow Creek Ranch Sidewalk Extensions
Mr Mueller reminded of the purpose of Letter Finance Agreements(LFA) Mr Deao
recommended approval of the LFA to set the budget for the sidewalk improvements as outlined
Mr Mueller and Chair Phillips reviewed the procedure for setting the budgets included in the
LFA and authorizing the expense and reimbursement. Director Tonini requested a review of the
map regarding possible overlap of the Shadow Creek HOA plans of 2021 repairs. Mr Upton
clarified that his staff is meeting with the HOA to solidify all plans for changes.
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A motion by Director Stevens to adopt the LFA 21-02-001 document as presented was
seconded by Director Selsky and passed unanimously
7 Consideration and Possible Action—Completed Letter Finance Agreements.
a. LFA 16-08-001 CCAC Reserve Holdings, LLC
Mr Mueller advised this LFA was approved by the board in 2016, the developer built the project
with all information submitted to LJA and McGrath & Co for review, and now ready for board
approval to be placed in line for reimbursement when funds are available. Ms. Horn reviewed
the Independent Accountant's Report on Applying Agreed-Upon Procedures for the TIRZ
Improvements Roadway to Serve Reserve at Shadow Creek noting the grand total of
$2,399,013. Ms. Humphries reviewed the process of the auditor's review and the method and
timing for reimbursement.
A motion by Director Selsky to accept the auditor's AUP report,for completed LFA 16-08-001 to
document the eligible amount to be in line for reimbursement/when funds are available was
seconded by Director Phillips and passed unanimously
8. Discussion Item—TIRZ projects update /
Mr Upton reviewed a visual presentation napping/each of the TIRZ'projects and provided an
update of same, to include Library at 30,000 square feet to complete and open in December;
fire station#8 is near completion to submit for,documentation, phase 2,of'the sports complex at
Shadow Creek Regional Park to complete in late 2021, Shadow Creek trail connection to Kirby
Drive, currently in design trail connection underneath Shadow Creek Parkway nto trail system
at Shadow Creek Ranch and to library site, landscaping,"street lighting and beautification of
sidewalks with Shadow Creek Parkway; engineering review of intersection improvements at
various locations; sidewalk extension.is"at 90% in final reviews to connect Kirby at Shadow
Creek Parkway and more;widen FM521 from FM2234 to Highway 6 funded by TxDOT and led
by Fort Bend County. Mr -Upton stated thatathe list ofprojects totals $68.5 million
9 Discussion Item-Report from TIRZ consultants and Board member comments.
Mr Mueller advised that the annual romeeting would be in September of 2021 The Board and
Consultants extended thanks1to Rhonda Daugherty for her work with the TIRZ.
IV ADJOURN
There being no further business, Director Stevens moved to adjourn at 4:53pm, which was
seconded by Director King
.)
APPROVED.
\
Kenneth R. Phillips
Chair, Board of Directors
ATTEST
Ali Hasanali
Secretary, Board of Directors
Minutes approved as submitted and/or amended on
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