From
Lee Harriss
Title
Resolution appointing Matthew Loh, Chair of the Grand Prairie Chamber of Commerce, and Marty Wieder, Director of Economic Development, to the Boards of Directors for two Tax Increment Financing (TIF) Zones
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 in order to preserve a majority on the Board and the Chairpersons of the Boards of Directors. The Grand Prairie Chamber of Commerce recommends that their new Chair, Matthew Loh, replace their former Chair, Deborah Hepworth, as their city representative for the TIF Board membership.
The attached Resolution appoints Matthew Loh and Marty Wieder to represent the City on the Board of Directors for each of the City’s two (2) TIF zones. Mr. Loh and Mr. Wieder will each serve the remainder of a two-year term (Jan. 1, 2016-December 31, 2017). The City of Grand Prairie holds a majority of the seats on each Board (TIF 1: 5 of 9; TIF 3: 5 of 9).
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 MATTHEW LOH, GRAND PRAIRIE CHAMBER OF COMMERCE, AND MARTY WIEDER, DIRECTOR OF ECONOMIC DEVLOPMENT, TO REPRESENT THE CITY 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 increm...
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