From
Lee Harriss
Title
Resolution approving payment of the Grand Prairie Municipal Reclamation District PILOT
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 FY2019 budget for this PILOT is $165,000. The City believes that the Sports Corporation should be paying this amount.
Financial Consideration
Amend the FY2019 Sports Corp Budget to add this PILOT in the amount of $165,000. Adjust FY2020 budget and 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.
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 a surplus of at least $7,613,079; desires to contribute certain monies to the Grand Prairie Municipal Reclamation District
Now, therefore, be it
RESOLVED that the Board of Directors approves the payment of $165,000 operating surplus to the Grand Prairie Municipal Reclamation District; and be it further
RESOLVED that the officers of the Corporation are authorized to take all actions and prepare all documents in order to accomplish and carry out the intents and purposes of the foregoing resolutions. They hereby are, ratified, confirmed, approved and adopted as the official acts and deeds of the Corporation.
PASSED AND APPROVED BY THE GRAND PRAIRIE SPORTS FACILITIES DEVELOPMENT CORPORATION, INC. AUGUST 5, 2019.
___________
Ron Jensen, President
ATTEST:
_____
Jorja Clemson, Secretary