From
Lee Harriss
Title
Resolution appointing members 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 in order to preserve a majority on the Board and the Chairpersons of the Boards of Directors. Directors serve two-year terms.
The terms of all Chairpersons and Directors on the City's two TIF Boards will expire on December 31, 2015. TIF #2 was closed in September, 2015.
The attached resolution reappoints the following individuals to represent the City on the Board of Directors for the City’s two (2) TIF zones:
Councilmember Jim Swafford
Councilmember Richard Fregoe
Councilmember Jorja Clemson
Director of Economic Development Bob O’Neal
Appointees will serve two-year terms (Jan. 1, 2016-December 31, 2017), and there is one new member on the TIF Board, Deborah Hepworth, representing the Chamber of Commerce. The City of Grand Prairie holds a majority of the seats on each Board (TIF 1: 5 of 9; TIF 3: 5 of 9).
The governing bodies for each of the City’s TIF partner jurisdictions have been requested to appoint their representative by January 1, 2016.
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 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...
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