[00:00:01]
[CALL TO ORDER]
TODAY IS TUESDAY, JULY 24TH, 2023, AT 5:45 P.M.FIRST ORDER OF BUSINESS WILL BE A ROLL CALL.
THE HONORABLE MAYOR BREANNA CHACON.
BRIAN WASHINGTON HERE AND KEVIN UNDERWOOD IS NOT HERE.
WE DO HAVE A QUORUM AND THE FIRST ITEM OF BUSINESS IS THE CONSENT AGENDA.
[CONSENT AGENDA]
ALL CONSENT AGENDA ITEMS LISTED ARE CONSIDERED TO BE ROUTINE BY THE CITY COUNCIL AND WILL BE ENACTED BY ONE MOTION.THERE WILL BE NO SEPARATE DISCUSSION OF THESE ITEMS UNLESS THE COUNCIL MEMBERS SO REQUEST IN WHICH EVENT THE ITEM WILL BE REMOVED FROM THE CONSENT AGENDA AND CONSIDERED IN ITS NORMAL SEQUENCE ON THE AGENDA.
MAKE A MOTION TO APPROVE CONSENT AGENDA.
MOTION BEEN MADE TO APPROVE AND I'LL SECOND THAT.
FIVE ZERO. NEXT IS THE REGULAR AGENDA ITEM 2023 TIRZ 002
[REGULAR AGENDA]
RESOLUTION NUMBER 2023 0724 PR EAST RIDGE TIRZ CONSIDER AND APPROVE AMENDED AND RESTATED PROJECT AND FINANCING PLAN FOR THE EAST RIDGE TIRZ.WE HAVE MR. JEFF GLOBUS WITH OUR BOND COUNSEL HERE TODAY, AND HE'S GOING TO BRIEF YOU ON THIS ITEM.
THANK YOU. GOOD AFTERNOON, CHAIRMAN AND MEMBERS OF THE BOARD.
I ALWAYS MAKE SURE I ADDRESS YOU ALL CORRECTLY AS THE TIRZ BOARD.
AS YOU WILL DISCUSS LATER IN THE COUNCIL MEETING, WE DID SELL BONDS THIS AFTERNOON FOR THE SECOND PHASE OF THE EAST RIDGE PUBLIC IMPROVEMENT DISTRICT.
EAST RIDGE IS OVERLAID WITH A TAX INCREMENT REINVESTMENT ZONE.
THE PURPOSE OF THAT ZONE IS TO BUY DOWN THE PIT ASSESSMENTS TO A POINT WHERE IT'S MARKETABLE FOR THE END USERS AND MARKETABLE TO BONDHOLDERS AS WELL.
SO THE ITEM BEFORE YOU IS APPROVAL OF THE AMENDED PLANS.
ONCE THOSE BONDS ARE PAID OFF, THAT TIRZ DOES GO AWAY.
THAT WILL BE AN ASSESSMENT OR TAXABLE VALUE THAT GOES FULLY INTO THE CITY'S GENERAL FUND.
OBVIOUSLY, THESE DON'T GET UPDATED UNTIL ABOUT AN HOUR AGO.
ONCE WE GET THE FINAL PRICING NUMBERS REFLECTED, WHICH AGAIN WILL GO OVER IN MORE DETAIL.
AND SO AS PART OF THE PLAN, ANY TIME WE DO PLAN AMENDMENTS, IT HAS TO START WITH THE TIRZ BOARD AND THEN SAME ITEMS WILL COME BEFORE COUNCIL FOR APPROVAL, ASSUMING YOU ALL AS THE TIRZ BOARD RECOMMEND APPROVAL.
ANY MEMBERS HAVE ANY QUESTIONS? IF NOT, I'LL ENTERTAIN A MOTION.
I'LL MAKE THAT MOTION TO APPROVE AGENDA ITEM 2023.
EXCUSE ME. RESOLUTION NUMBER 2023 0724 PR EAST RIDGE TIRZ.
I'LL SECOND THE MOTION AND SECOND.
I VOTE YES. DAVID KLEIBER YES.
MOTION CARRIES FIVE ZERO AND THE NEXT ITEM IS ADJOURNMENT.
DO I HAVE A MOTION TO ADJOURN? MAKE A MOTION TO ADJOURN.
[00:05:01]
ALL IN FAVOR, SAY YAY.THANK YOU.
* This transcript was compiled from uncorrected Closed Captioning.