1999-10-05 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
October 5, 1999
The meeting of the Board of Directors ("Board") of the Tax Increment Reinvestment Zone
Number Two ("Zone"), City of Pearland, Texas, was held in the City Council Chambers of
Pearland City Hall, located at 3519 Liberty Drive, Pearland, Texas, on Tuesday, October 5, 1999,
at 4:00 p.m. The meeting was open to the public.
Board Members in Attendance:
Nigel Harrison, Chair
Gary Cook, Vice Chair
James McFeron
Larry Loessin
Bobby Verdine
Jim DeShazer
City of Pentland Representatives in Attendance:
Hon. Richard Tetens
Alan Mueller
Public in Attendance:
None
1. Introduction.
Board Members Not in Attendance:
Mike Pyburn, Secretary
Consultants in Attendance:
Lynne Humphries — Vinson & Elkins
David Tinney — LJA Engineering
Patti Joiner - Knudson & Associates
Charles Knight - Knudson & Associates
The Chair, Nigel Harrison asked those in attendance to introduce themselves for the benefit of
the new Board Members.
2. Call the meeting to order, take attendance and verify that a quorum in present.
The Chair, Nigel Harrison called the meeting to order at 4:07 p.m. and took attendance. The
following Board Members were present:
1.
Bobby Verdine
2.
Nigel Harrison
3.
Gary Cook
4.
James McFeron
5.
Jim DeShazer
6.
Larry Loessine
7.
John Knox
Board Member Mike Pyburn was not in attendance.
3. Discuss and approve minutes of the September 22,1999 Board meeting.
Following discussion, Vice Chair Gary Cook moved that the Board approve the minutes of the
September 22, 1999 meeting without revision. Board Member Larry Loessin seconded the
motion. The Board unanimously approved the motion, with Board Member Jim DeShazer
abstaining.
4. Discuss TIRZ operations and procedures.
Alan Mueller reported that the City was awaiting final comment on the TIRZ Reimbursement
Process from Mayor, Day, Caldwell & Keeton.
5. Project report from the City; take appropriate action.
Alan Mueller reported that bids for the FM 518 water line extension were opened last week. City
Council was to vote on Monday October 11, 1999. He also reported that the wastewater
discharge permit public comment period was underway and it was uncertain whether there would
be a need for a public hearing. No Board action was taken.
6. Receive report from the Developer; take appropriate action.
Vice Chair Gary Cook of Shadow Creek Ranch Development Company, L.P. reported that the
design work had begun. Monument construction was scheduled to begin in December of this
year and infrastructure construction was scheduled to begin in January of 2000. No Board action
was taken.
7. Consider and discuss Draft Master Developer Reimbursement Agreement by and
between the City of Pearland, Texas, Reinvestment Zone Number Two, City of Pearland,
Texas and Shadow Creek Ranch Development Company, L.P.
Lynne Humphries of Vinson & Elkins explained that comments from Mayor, Day, Caldwell &
Keeton were pending. Board Member Larry Loessin requested clarification in Section 4 (a)(1)
as to the Reinvestment Zone's Engineer responsibilities. Board Member Loessin then requested
that Section 14 be eliminated. Lynne Humphries stated that this term is included in order to
demonstrate that this agreement does not run with the land. Board Member James McFeron
requested that clarification be made as to the `debt service' reference in the third line of Section
4(d). Following discussion, it was decided that the Board would continue consideration and
discussion of this Agreement at its next Board meeting.
8. Consider and approve schedule of meetings.
It was decided that the next Board meeting would take place on October 25, 1999 at 4:30 p.m.
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9. New Business.
Board Member Loessin inquired as to the status of Directors and Officers liability insurance for
the Board. Alan Mueller responded that an opinion would be solicited from the TML
Intergovernmental Risk Pool as to coverage under the City's policy. Mr. Loessin continued by
asking how an auditor will be selected. Lynne Humphries responded that the Board selects the
auditor, who will then receive and either approve or deny invoices submitted for reimbursement,
after which any approved invoices would be submitted to the Board for consideration. Mr.
Loessin then requested a spreadsheet illustrating current taxing jurisdiction participation and
projected cashflow.
10. Any other matters which may properly come before the Board.
No other business was brought before the Board.
11. Adjournment.
Board Larry Loessin moved that the meeting be adjourned. Board Member James McFeron
seconded the motion, and the Board unanimously voted to adjourn the meeting at 4:50 p.m.
Approved:
r
Mike Pyburrl
Board Secretary
Tax Increment Reinvestment Zone Nurnber Two
City of Pearland, Texas
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