From
Lee Harriss
Title
Resolution approving payment of the Grand Prairie Municipal Reclamation District PILOT and authorizing the president to sign additional renewals
Presenter
Becky Brooks, Chief Financial Officer
Recommended Action
Approve
Analysis
Background
The Grand Prairie Metropolitan Utility Reclamation District (GPMURD) was created in 1985 by the state legislature to reclaim land from the flood plain through a series of levees, lakes and pump system.
The property protected by the levee system is primarily owned by the City, the Sports Corporation, Global Gaming/Lone Star Park, and Pollock Paper. The City and Sports Corporation properties are tax-exempt and provide no tax base for the GPMURD assessment.
Accordingly, after debt payments were complete, the City entered into an agreement with GPMURD and started paying a payment-in-lieu-of-tax “PILOT” to assist with the ongoing operations and maintenance of the levee system.
The FY 2021 budget for this PILOT is $165,000, and the Sports Corporation paid this for FY 2019 and FY 2020. Approve payment of the Grand Prairie Municipal Reclamation District PILOT and authorize the president to sign additional renewals under the contract as long as the terms are the same.
Financial Consideration
The FY 2021 budget for this PILOT is $165,000. Adjust future budgets as agreed upon between the Sports Corp and GPMURD.
...Body
A RESOLUTION APPROVING THE PAYMENT OF $165,000 FOR THE GRAND PRAIRIE MUNICIPAL RECLAMATION DISTRICT AND AUTHORIZE PRESIDENT TO SIGN ANY ADDITIONAL RENEWALS UNDER THE CONTRACT SO LONG AS THE TERMS ARE THE SAME.
WHEREAS, the Grand Prairie Sports Facilities Development Corporation, Inc. (the “Corporation”) has determined that the Corporation has sufficient resources to cover the current fiscal year expenditures and and desires to contribute certain monies to the Grand Prairie Municipal Reclamation District
Now, therefore, be it
RESOLVED that the Board of Directors approves t...
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