From
Lee Harriss, Special District Administrator
Title
Resolution adopting amendments to the Bylaws of Reinvestment Zone Number One, Interstate Highway 30 Area Tax Increment Financing (TIF) District
Presenter
Lee Harriss, Special District Administrator
Recommend Action
Approve
Analysis
The TIF 1 Board of Directors reviewed and approved the updated bylaws at their meeting on November 18, 2020 and recommended adoption.
As of December 31, 2020, the TIF participation agreements with Grand Prairie Independent School District (GPISD), Dallas County (County), Dallas County Hospital District, and Dallas County Community College District (DCCCD) will have expired, but TIF 1 continues to operate. Since these tax districts are no longer participating and will stop attending TIF board meetings, the bylaws have been updated to include only representatives appointed by the City of Grand Prairie and Tarrant County. The proposed revision includes the following update:
Amend Bylaws of Reinvestment Zone Number One, Interstate Highway 30 Area Tax Increment Financing (TIF) District, to include representatives appointed by the City of Grand Prairie and Tarrant County, the only participating tax districts.
Financial Consideration
There is no financial impact for the City or the TIF.
Body
A RESOLUTION OF THE CITY OF GRAND PRAIRIE, TEXAS, ADOPTING THE REVISED BYLAWS OF REINVESTMENT ZONE NUMBER ONE, INTERSTATE HIGHWAY 30 AREA TAX INCREMENT FINANCING DISTRICT; AND PROVIDING AN EFFECTIVE DATE.
Whereas, the City of Grand Prairie has created Reinvestment Zone Number One, Interstate Highway 30 Area Tax Increment Financing District within the City of Grand Prairie; and
Whereas, it is necessary to adopt the City of Grand Prairie’s revised Reinvestment Zone Number One, Interstate Highway 30 Area Tax Increment Financing District Bylaws; and
Whereas, it would be appropriate to make revisions to the City of Grand Prairie’s Reinvestment Zone Number One, Interstate Highway 3...
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