HomeMy WebLinkAbout2014/12/02-Minutes-HEDC CITY OF FORT WORTH, TEXAS
HOUSING AND ECONOMIC DEVELOPMENT COMMITTEE
DECEMBER 2, 2014
Present:
Committee Member Kelly Allen Gray, Chair
Committee Member Danny Scarth, Vice Chair
Committee Member Salvador Espino
Committee Member Jungus Jordan
Committee Member Dennis Shingleton
Committee Member Ann Zadeh
Absent:
Committee Member W. B. "Zim"Zimmerman
Committee Member Gyna Bivens
Committee Member Betsy Price
City Staff:
Peter Vaky, Deputy City Attorney
Mary J. Kayser, City Secretary
Jay Chapa, Housing and Economic Development Director
Cynthia Garcia, Assistant Director, Housing & Economic Development Department
1.Call to Order - Kelly Allen Gray, Chair
With a quorum of the committee members present, Chair Allen Gray called the meeting of the
Fort Worth Housing and Economic Development Committee to order at 1:04 p.m., on Tuesday,
December 2, 2014, in the Pre-Council Chamber of the Fort Worth City Hall, 1000 Throckmorton
Street, Fort Worth,Texas 76102.
2.Approval of Minutes from the Meeting Held on June 3, 2014 - Kelly Allen Gray, Chair
Motion was made by Committee Member Jordan and second by Committee Member Shingleton
to approve the minutes of the June 3, 2014, Fort Worth Housing and Economic Development
Committee meeting. Motion passed 6-0. Members Price, Bivens and Zimmerman absent.
Chair Allen Gray adjourned the regular meeting of the Fort Worth Housing and Economic
Development Committee and convened into Executive Session at 1:05 p.m.
3.Executive Session - The Housing and Economic Development Committee will conduct a
closed meeting to:
A.Seek the advice of its attorneys concerning the following items that are exempt from
public disclosure under Article X, Section 9 of the Texas State Bar Rules, as authorized by
section 551.071 of the Texas Government Code: (i) legal issues related to the Project and
Financing Plan for Tax Increment Reinvestment Zone Number Eight, City of Fort Worth,
Texas; and (ii) legal issues related to any current agenda items; and
CITY OF FORT WORTH, TEXAS
HOUSING AND ECONOMIC DEVELOPMENT COMMITTEE
DECEMBER 2, 2014
Page 2 of 3
B.Discuss the purchase, sale, lease or value of real property, as authorized by Section
551.072 of the Texas Government Code. Deliberation in an open meeting would have a
detrimental effect on the position of the City in negotiations with a third party; and
C.Discuss or deliberate negotiations relating to any economic development negotiations, as
authorized by Section 551.087 of the Texas Government Code.
Chair Allen Gray adjourned the Executive Session at 1:38 p.m., on Tuesday, December 2, 2014.
Chair Allen Gray reconvened the regular session of the Housing and Economic Development
Committee at 1:38 p.m., on Tuesday, December 2, 2014.
4.Briefing on the Proposed Stockyards/Northside Tax Increment Finance District -
Michael Hennig, Business/Community Development Coordinator, Housing and
Economic Development Department
Mr. Michael Hennig, Business/Community Development Coordinator, Housing and Economic
Development Department, gave a briefing on the proposed Stockyards/Northside Tax Increment
Finance District.
The proposed Stockyards/Northside Tax Increment Finance District would have 925 acres and be
for a 20 year term. The base appraisal value is estimated at $171,822,838 and the estimated 2035
value would be $828,555,818 and increment funds generated of approximately $40 million for
projects. There will be 50%participation by the City, County, TRWD and TCCD.
The staff is proposing the following timeline:
December 2014 M&C recommending adoption of ordinance creating the TIF district,
designating the term and establishing the TIF fund
January 2015 New TIF Board to meet to adopt Project and Financing Plans
February 2015 City Council adopts ordinance accepting Project and Financing plans.
There was no action required on this item.
5.Date of Next Regular Meeting: February 3, 2015 - Kelly Allen Gray, Chair
Chair Allen Gray announced that the next regular meeting of the Housing and Economic
Development Committee would be held on February 3, 2015.
6.Adjourn - Kelly Allen Gray, Chair
CITY OF FORT WORTH, TEXAS
HOUSING AND ECONOMIC DEVELOPMENT COMMITTEE
DECEMBER 2, 2014
Page 3 of 3
With no further presentations or discussions, Chair Allen Gray adjourned the regular meeting of
the Housing and Economic Development Committee at 1:50 p.m., on Tuesday, December 2,
2014.
These minutes approved by the Housing and Economic Development Committee on the 6th day
of January, 2015.
PROVED:
Minutes Prepared by and Attest: Chair Kelly en Gray
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Mary J. Kq#, C' y SedT etary