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Title
Amendment to Grand Prairie Metropolitan Utility Reclamation District (GPMURD) agreement for $165,000 per year for a Payment In Lieu of Taxas for reclamation of land from the flood plain through a series of levees, lakes and pump system for one year with four additional one year options; Authorize City Manager to execute any renewal options in his discretion, with aggregate price fluctuations of the lesser of up to $50,000 or 25% of the original agreed upon amount so long as sufficient funding is appropriated by the City Council to satisfy the City’s obligation during the renewal terms
Presenter
Gabe Johnson, Director of Public Works
Recommended Action
Approve
Analysis
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 district issued debt in 1985 and 1986 to build the levee system and roadways.
In the late 1980’s the district experienced financial problems due to the real estate collapse. The Crow Family interest took control of the district in the early 1990’s in an effort to revitalize the district.
In 1995 the delinquent principal, interest and property taxes were brought up to date with the financing for Lone Star Park. Lone Star agreed to a Payment in lieu of Taxes (PILOT) agreement with the district and side agreements with Pollock Paper and Lone Star Race Park Ltd. which provided the district with funds to make debt service payments. This allowed the district to keep the overall tax rate lower than what would be required for M&O and debt service payments. The PILOT agreement with Lone Star along with side agreements with Pollock and Lone Star Race Park Ltd. expired in April 2012 when the final debt service payment was made by the district.
The district has approached the city about either dissolving the district and taking over operations or providing financial assistance to...
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