From
Lee Harriss
Title
Resolution appointing Vice Chairs to Boards of Directors for two Tax Increment Financing (TIF) Zones, TIF #1 and TIF #3
Presenter
Lee Harriss, Special District Administrator
Recommend Action
Approve
Analysis
The “TIF Act” (Chapter 311 of the Tax Code) creates a Board of Directors to govern TIF Zones created by municipalities. Taxing entities (other than the City) contributing all or a portion of their tax increment are each allocated one seat on the Board of Directors. The City is given the power to appoint Directors representing the City as the Chairpersons and Vice Chairpersons of the Boards of Directors. Directors serve two-year terms. TIF #2 was closed in September, 2015. Vice-Chairs have not been appointed in the past but situations arise from time to time when the Chair cannot be present and the Vice-Chair would be need to preside over the meeting
Current Chairpersons are:
Councilmember Jim Swafford, Chair for TIF 1
Councilmember Jorja Clemson, Chair for TIF 3
The attached resolution appoints the following individuals to represent the City as Vice Chairpersons on the Board of Directors for the City’s two (2) TIF zones:
Councilmember Jim Swafford, Vice Chair for TIF 3
Councilmember Jorja Clemson, Vice Chair for TIF 1
Financial Consideration
There is no financial impact associated with approval of the attached resolution.
Body
A RESOLUTION OF THE CITY OF GRAND PRAIRIE, TEXAS, APPOINTING CERTAIN INDIVIDUALS TO REPRESENT THE CITY AS VICE CHAIRS ON THE BOARDS OF DIRECTORS FOR TWO TAX INCREMENT FINANCING ZONES
WHEREAS, the City of Grand Prairie has designated two areas as Tax Increment Financing (TIF) Reinvestment Zones within the City of Grand Prairie; and
WHEREAS, these Tax Increment Financing Zones are governed by a Board of Directors comprised of appointees from the various taxing entities who contribute tax increments to the TIF zones; and
WHEREAS, the City is appointing vice chairs; and
WHEREAS, it i...
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