From
Lee Harriss, Special District Administrator
Title
Resolution adopting amendments to the Bylaws of Reinvestment Zone Number Three, Peninsula Tax Increment Financing (TIF) District
Presenter
Lee Harriss, Special District Administrator
Recommend Action
Approve
Analysis
The TIF 3 Board of Directors reviewed and approved the updated bylaws at their meeting on June 18, 2014 and recommended adoption.
In 2012, all TIF 3 plan improvements in Tarrant County had been completed, and all debts had been paid. The Tarrant County side of TIF 3 was closed, but the Dallas County side continues to operate. Since tax districts in Tarrant County are no longer participating and will stop attending TIF board meetings, the bylaws have been updated to include only the tax districts located in Dallas County. The proposed revision includes the following update:
§ Amend TIF 3 bylaws to include representatives from tax districts located within Dallas County (the current boundary of TIF 3).
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 THREE, PENINSULA TAX INCREMENT FINANCING DISTRICT
Whereas, the City of Grand Prairie has created Reinvestment Zone Number Three, Peninsula 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 Three, Peninsula Tax Increment Financing District Bylaws; and
Whereas, it would be appropriate to make revisions to the City of Grand Prairie’s Reinvestment Zone Number Three, Peninsula Tax Increment Financing District Bylaws;
NOW THEREFORE, BE IT RESOLVED, by the City Council of the City of GRAND PRAIRIE, Texas that:
Section 1. That the City Council adopt the following revisions to the attached Reinvestment Zone Number Three, Peninsula Tax Increment Financing District Bylaws:
§ Amend...
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