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HomeMy WebLinkAbout2007-09-17 TAX INCREMENT REINVESTMENT ZONE NO. 2 BOARD MEETING MINUTESdraft minutes MINUTES OF THE BOARD OF DIRECTORS MEETING TAX INCREMENT REINVESTMENT ZONE NUMBER TWO CITY OF PEARLAND, TEXAS SEPTEMBER 17, 2007 A special meeting of the Board of Directors (“Board”) of the Tax Increment Reinvestment Zone Number Two (“Zone”), City of Pearland, Texas, was held on Monday, September 17, 2007 at 4:00 p.m. in the First Floor Conference Room at Pearland City Hall, 3519 Liberty Drive, Pearland, Texas. The meeting was open to the public. Board Members in attendance: Board Members not in attendance: Mike Pyburn, Secretary Nigel Harrison, Chair Larry Loessin Gary Cook, Vice Chair Ken Phillips Gary Davis Ron Castillo Donna Coleman Jo Knight Consultants in attendance: Trey Lary, Hannah Brook - Allen Boone Humphries Robinson LLP James Ross – LJA Engineering & Surveying, Inc. Sue Darcy – Marsh Darcy Partners, Inc. Developer representatives in attendance: Drew Pelter - Shadow Creek Ranch Development Company, Ltd. City of Pearland: Bill Eisen – City Manager Claire Manthei - Finance Director Young Lorfing – City Secretary 1. Call the meeting to order, take attendance and verify that a quorum is present. The meeting was called to order and attendance was taken. The following directors were present: 1. Mike Pyburn, Secretary 2. Ken Phillips 3. Jo Knight 4. Ron Castillo 5. Larry Loessin draft minutes Those present constituted a quorum. Directors Coleman, Davis, Harrison and Cook were not in attendance. 2. Discuss and approve minutes of the June 18, 2007 Board meeting. The minutes of June 18, 2007 meeting were presented. Director Knight moved that the Board approve the minutes of the June 18, 2007 meeting without revision. Director Loessin seconded the motion, and it was unanimously approved. 3. Discuss and take necessary action regarding TIRZ Invoices Presented for Payment and approval of outstanding administrative invoices. Claire Manthei, Finance Director for the City of Pearland, reviewed the invoices with the Board. Director Knight moved that the Board approve the TIRZ invoices and the outstanding administrative invoices for payment. Director Phillips seconded the motion. Following discussion, the Board unanimously approved the motion. 4. Review and approve financial report Rick Overgaard, Assistant Finance Director for the City of Pearland, reviewed the financial report with the Board. After review, Director Phillips moved that the Board approve the financial report. Director Loessin seconded the motion. Following discussion, the Board unanimously approved the motion. 5. Review and discussion of June 30, 2007 Quarterly Investment Report The Board reviewed the June 30, 2007 Quarterly Investment Report. The Board took no action regarding this agenda item. 6. Discuss and take necessary action regarding approval of the Auditor’s Report on Developer Reimbursement No. 10 and make recommendation to City for Reimbursement. The Board reviewed the Report with the Board and confirmed that the projects contained in Letter Financing Agreement Nos. 06-01-002 and 06-01-001 were completed within the budget stated in the respective Letter Financing Agreements. After review, Director Phillips moved that the Board approve the Auditor’s Report on Developer Reimbursement No. 10 and recommend to the City that the projects contained therein be reimbursed. Director Loessin seconded the motion. Following discussion, the Board unanimously approved the motion. draft minutes 7. Discuss City of Pearland assuming TIRZ administration duties and authorize appropriate action, including termination of any existing contracts for TIRZ administration Mr. Eisen reported that Zone costs can be reduced by City staff performing the Zone’s administrative duties. After review and discussion, Director Knight moved that the Board authorize the City to assume TIRZ administration duties and authorize termination of the agreement with Knudson & Associates, Inc. for administrative services. Director Loessin seconded the motion. Following discussion, the Board unanimously approved the motion. 8. Approve Agreement with Marsh Darcy Partners, Inc. to assist the City of Pearland with administrative duties, including annual report preparation and other functions as requested by the City Mr. Eisen stated that the City may require assistance to transition to performing administration for the Zone, and recommended the Zone approve an agreement with Marsh Darcy Partners, Inc. to assist the City staff with technical issues related to the Zone administration. Director Phillips noted that he has known Sue Darcy, a principal of Marsh Darcy Partners, Inc., for many years. After review, Director Knight moved that the Board approve the Agreement with Marsh Darcy Partners, Inc. Director Loessin seconded the motion. The Board then unanimously approved the motion. 9. Adopt Resolution Approving Amendment No. 1 to Agreement among the Zone, the City of Pearland and Development Authority of Pearland, and authorize execution of Amendment No. 1 Mr. Lary reviewed the Resolution Approving Amendment No. 1 to Agreement among the Zone, the City of Pearland and Development Authority of Pearland, and authorize execution of Amendment No. 1. Following discussion, Director Phillips made a motion that the Board approve Resolution Approving Amendment No. 1 to Agreement among the Zone, the City of Pearland and Development Authority of Pearland, and authorize execution of Amendment No. 1. The motion was seconded by Director Knight and carried unanimously. 10. New Business There was no new business to come before the Board. draft minutes 11. Any other matters which may properly come before the Board There were no other matters brought before the Board. 12. Adjournment. There being no further business, Director Phillips made a motion that the Board adjourn the meeting. The motion was seconded by Director Loessin, and carried unanimously. Approved: ____________________ Nigel Harrison Chairman Tax Increment Reinvestment Zone Number Two City of Pearland, Texas