[1. Call to order]
[00:00:03]
>>> WE WILL NOW GO AHEAD AND OPEN THE MEETING FOR TIRS THREE.
UM, DO WE HAVE ANY PUBLIC COMMENT? NO? OKAY. SO I AM CALLING THIS MEETING TO ORDER AT 6:06, THERE IS A QUORUM PRESENT.
[2. Approve minutes from the following meeting(s): January 7, 2025.]
WE WILL APPROVE THE MINUTES FROM THE JANUARY 7TH, 2025 MEETING.CAN WE GET A MOTION? I WILL ENTERTAIN A MOTION.
NOT SEEING IT? I AM NOT SEEING IT. ALL IN FAVOR? LETS TAKE A VOTE.
[3. Discuss and consider approval of recommendation of TIRZ #3 Budget to City Council.]
AND THAT PASSES UNANIMOUSLY. OKAY. WE WILL NOW DISCUSS AND CONSIDER APPROVAL OF RECOMMENDATIONS FOR THE TIRS NUMBER THREE BUDGET TO CITY COUNCIL, PRESENTING WILL BEMICHAEL KING. >> GOOD AFTERNOON, TIRS BOARD NUMBER THREE. HERE TO DISCUSS THE DOWNTOWN TIRS PROPOSED BUDGET. LITTLE OVERVIEW, IT WAS ESTABLISHED APRIL 4TH, 2017 AND IT ENDS APRIL 4TH, 2037. THE PROJECT OF FINANCING PLAN WAS UPDATED LAST YEAR AND INCLUDES PROJECTS INCLUDING ECONOMIC DEVELOP GRANT, PARKING STRUCTURE, WATER, WASTE WATER, ADMINISTRATIVE COSTS. THE BOUNDARIES ARE PRESENTED HERE.
REVENUES INCLUDE INCREMENTAL PROPERTY TAXES, BASED ON THE GROWTH AND PROPERTY FROM WHEN THE TIRS WAS ESTABLISHED ALONG WITH INCREMENTAL AMOUNT OF INTEREST INCOME, EXPENSES REPRESENT EXPENSES TO THE TIRS ADMINISTRATOR ALONG WITH TRANSFER OF THE CITY. ANY QUESTIONS?
>> I DON'T HAVE A QUESTION, BUT CAN YOU JUST GO BACK TO THAT SLIDE? I WANT TO HAVE A CHANCE TO LOOK AT IT. THANK YOU.
>> MIKE, THIS BUDGET IS SOMEWHAT DIFFERENT THAN WHAT WE HAD PREVIOUSLY A, CAN YOU TALK TO US ABOUT WHAT THOSE DIFFERENCES ARE, AND HOW WE ARRIVED AT THAT RECOMMENDED CHANGE?
>> SO THE-- WHAT THE LARGEST NOTICE WILL BE, THERE IS AN INCREASE, I BELIEVE DECREASE IN THE PROPERTY TAX REVENUES VERSES WHAT WAS PRESENTED IN JULY. THAT IS DUE TO CERTIFIED VALUES COMING OUT FROM DALLAS CAT. SO THIS NUMBER IS ESTABLISHED, SO THE LARGEST NUMBER IS THE PROPERTY TAX REVENUE NUMBER.
THIS REPRESENTS AN ESTIMATED TAX RATE, WHICH WILL BE SHOWN IN THE PROPOSED BUDGET, ALONG WITH CERTIFIED VALUES PREPARED BY DALLAS CAD FOR THE CITY, AS APART OF THE TRUTH AND TAXATION PROCESS. THERE ARE NO CHANGES ON THE EXPENSE SIDE, VERSES WHAT WAS SHOWN TO COUNCIL ON JULY 12TH.
>> CUYOU TALK TO US ABOUT THE PLANNED EXPENSES OR THE TIRS PLAN? I KNOW IT IS NOT OUTLAID HERE IN THE BUDGET NECESSARILY, IT IS WITH THE OVERVIEW, BUT THE PROJECTS THAT ARE LISTED, I NOTICED PARKING, FOR EXAMPLE, HAS BEEN REMOVED FROM THIS BUDGET, OR THIS PLAN, CAN YOU TALK TO US ABOUT--
>> PARKING IS PRESENTED AS LINE TWO.
>> MAYBE THAT IS A BETTER QUESTION FOR OUR CITY MANAGER.
>> SO, I WANT TO MAKE SURE THAT I AM CLEAR, WHEN YOU SAY PARKING IS REMOVED, TELL ME WHAT YOU MEAN, BECAUSE I AM NOT CLEAR.
>> SORRY. SO, I WAS UNDER THE IMPRESSION IT HAD BEEN TAKEN OUT
OF HERE BUT I AM GUESSING-- >> NO, IT IS STILL THERE.
>> NO, IT IS A QUESTION OF, DOES THE TIRS BOARD EVER WANT TO FUND $8 MILLION FOR PARKING STRUCTURE AND CONSTRUCTION UNTIL REMOVED, IT IS AN ELIGIBLE EXPENSE BUT GENERALLY YOU PAY THOSE EXPENSES WITH SOMEONE WITH A DEVELOPMENT AGREEMENT.
>> SO, I THINK FROM A STRATEGY STANDPOINT, I HAVE NEVER BEEN IN THE POSITION ON COUNCIL OF HAVING EXTRA FUNDS WITH WHICH TO CONSIDER. ALL OF OUR FUNDS IN THE TIRS HAVE ALWAYS BEEN EATEN UP BY VARIOUS DEVELOPMENT AGREEMENTS OR REIMBURSEMENT FOR INFRASTRUCTURE COST, THIS IS THE FIRST TIME ZEE TANGIBLE CASH
[00:05:02]
BALANCE PROPOSED END OF 2026 OF $1.25 MILLION, ROUGHLY. SO, AT WHAT POINT DO WE, AS A BOARD, COME TOGETHER AND STRAT JZ WHEREFUNDATIZE BE SENT? >> THERE IS NO MECHANISM FOR ACTIVATION THROUGH THAT, NOT LIKE IN COUNCIL ROLE WHERE YOU ASK STAFF TO GO OUT AND DO X, Y, Z, THESE ARE SET ASIDE TO PROVIDE INCENTIVE OR ASSISTANCE FOR DEVELOPMENT THAT OCCURS.
WHAT I SAID EARLIER, YOU WOULD GENERALLY NEED TO HAVE DEVELOPMENT AGREEMENT. THIS IS TYPICALLY MECHANISM TO BRIDGE OR ASSIST THAT. UNLESS YOU A DEVELOPMENT THAT WAS GOING TO DO THAT OR YOU HAD A CITY PROJECT THAT COULD TIE BACK INTO THIS, ACTIVATE THESE FUNDS TOWARDS ANY PARTICULAR PROJECT, UNLESS THE
CITY WERE INITIATING IT. >> I KNOW SOMETIMES, OR OFTEN TIMES, AT LEAST, WITH THE TIRS AGREEMENTS THAT WE HAVE IN PLACE CURRENTLY, MOST OF THE FUNDS HAVE BEEN USED TO GO TOWARD EITHER SOME SORT OF SIGN ENHANCEMENT OR INFRASTRUCTURE ENHANCEMENT OR SOMETHING LIKE THAT. IT IS LESS ABOUT AN ECONOMIC INCENTIVE, I GUESS, IN A WAY IT IS AN ECONOMIC INCENTIVE BECAUSE IT IS REDUCING THE BURDEN ON THE DEVELOPER, BUT IT IS ALSO ENHANCING IT FROM, AS FAR AS PUBLIC GOOD GOES. I AM TALKING IN THE NORTHSHORE, WHERE WE HAVE GOT THE SECTION OF MERIT ROAD THAT HAS BEEN ADDED, SAPPHIRE BAY WE HAD ALL THE ROADWAYS AND SIDEWALKS AND OTHER PUBLIC AMENITIES ADDED. IN DOWNTOWN, WE MAY BE A LITTLE BIT MORE LIMITED IN TERMS OF THOSE TYPES OF PUBLIC AMENITIES Y. AM CURIOUS WHAT IDEAS MIGHT CME FORTH AND HOW WE WOULD ACTIVATE THOSE.
>> GOSH, THIS BOARD COULD DECIDE TO SET UP AS OTHER CITIES DO, FACADE GRANTS, RIGHT? YOU COULD DO-- AND I AM GOING TO COUCH THIS, YOU COULD DO ECONOMIC DEVELOPMENT GRANTS IN A VERY LIMITED WAY, SO I WILL SAY THAT BECAUSE IT WILL BE A VERY FACT INTENSIVE AGREEMENT YOU WOULD HAVE TO HAVE, OR PROGRAM IF YOU DECIDE YOU WANT TO GO IN THAT DIRECTION. YOU COULD ADD ANY NUMBER OF THINGS BUT THEY HAVE TO BE IN A PROJECT OF PLAN FIRST. IF THIS IS SOMETHING THE BOARD IS DESIRING TO DO, WE CAN ALWAYS WORKSHOP IT WITH YOU, TRY TO, YOU KNOW, FLESH OUT YOUR IDEAS FOR WHAT YOU WANT TO DO. THEN INCORPORATE THEM INTO A BUDGEMENT AMENDMENT LATER ON FOR THE TIRS, ONCE WE AMEND THE
PROJECT PLAN. >> GO AHEAD, PLEASE.
>> IS THERE A CURRENT PROJECT PLAN THAT WE CAN LOOK AT?
>> THAT IS ON, WHAT SLIDE NUMBER IS THAT?
>> SLIDE NUMBER-- IT IS SLIDE NUMBER TWO.
>> SLIDE NUMBER TWO SHOWING IT. >> OKAY.
>> AND THIS PLAN WAS DEVELOPED IN 2017 WHEN THEY PUT THE TIRS
THREE TOGETHER. >> DEVELOPED IN 2017, AMENDED IN 2024, AND CAN BE AMENDED ANY TIME THE BOARD DECIDES.
>> THIS IS, SO THE $1.2 MILLION ON THE OTHER SLIDE, THAT IS IN ADDITION TO THE MILLION THAT WE-- HAVE FUNDED FROM THE BOND.
>> THAT IS CORRECT. SEPARATE FUNDS ALL TOGETHER, YES, MA'AM.
>> SO THE ECONOMIC DEVELOPMENT GRANT LISTED ON THE PLAN, IF YOU CAN GO BACK TO SLIDE TWO, CHARLES, THANK YOU. THE ECONOMIC DEVELOPMENT GRANT HAS BEEN FULFILLED AND THERE IS NO MORE,
IS THAT CORRECT? >> THAT IS CORRECT. YES, IT IS.
>> THAT PIECE OF THE PROJECT PLAN HAS BEEN FULFILLED. ADMINN STRAFBT COSTS ARE AN ONGOING THING AND WE ARE LEFT WITH FOUR OTHER KEY THINGS HERE, I AM CURIOUS HOW THE MUNICIPAL COMPLEX PLAYS INTO THE TIRS PLAN AND WHAT THAT-- WHAT DOES THAT
MEAN? IF I CAN GET SOME HELP . >> YOU AMENDED IT LAST YEAR, SO WHEN YOU SAY WHAT DOES IT MEAN? IT MEANS THE TIRS BOARD THOUGHT IT WAS AN ECONOMIC DEVELOPMENT ENHANCEMENT TO DEVELOP MUNICIPAL COMPLEX WITHIN BOUNDARIES OF THE TIRS DISTRICT.
[00:10:07]
>> THAT IS NOT IN THE MINUTES, BUT THAT IS ALL RIGHT.
>> THE CITY COUNCIL ULTIMATELY APPROVES THE PLAN, CORRECT ME IF I AM WRONG. IT WOULD BE IN CITY COUNCIL MINUTE MEETINGS.
>> UNDERSTOOD. >> MEANING MINUTES.
>> THAT MAKES SENSE, THE BOARD MAY NOT HAVE NECESSARILY RECOMMENDED A CHANGE.IT MIGHT HAVE BEEN A CITY COUNCIL ACTION.
>> OKAY. I KNOW THERE WERE QUESTIONS ABOUT, PERHAPS, INCREASING THE TIRS SHARE FOR DOWNTOWN, WHICH, TO BE PERFECTLY CLEAR, I AM NOT PROPOSING OR IN FAVOR OF, BUT MAYBE INCREASING THAT 50% TO BE A HIGHER PERCENTAGE OF THE INCREMENT RECAPTURE. WHAT WOULD THAT PROCESS LOOK LIKE IF WE WERE TO
UNDERGO THAT TYPE OF A PROCESS? >> WE WOULD WORK WITH OUR TIRS ADMINISTRATOR TO UPDATE DOCUMENTS, AND PRESENT IT TO THE BOARD, IF THE BOARD WERE TO RECOMMEND IT TO CITY COUNCIL, THEN IT WOULD GO TO CITY COUNCIL FOR APPROVAL.
>> OKAY. I THINK AS A BOARD WE PROBABLY NEED TO CONSIDER MEETING AGAIN AT SOME POINT BEFORE OUR NEXT MAJOR MEETING, AND MAYBE STRAT JZ A LITTLE BIT ABOUT WHAT SOME OF THIS LOOKS LIKE AND MAKE A RECOMMENDATION OF A CHANGE IN THE PLAN IF WE FEEL LIKE ANY OF THIS IS IRRELEVANT OR NOT SO ACTIONABLE.
AS A BOARD. >> FOR CLARITY'S SAKE, YOUR NEXT MAJOR MEETING OF THE BOARD IS NEXT YEAR, YOU CAN ISSUE A CALL MEETING AND WE WILL FACILITATE WHENEVER YOU WOULD
LIKE. >> ON THE ASTERISK, ARE THOSE PROJECTS ALREADY IN THE WORKS JUST IN THE PLAN, HAVE BEEN
COMPLETED? ALL OF THE ABOVE? >> THOSE WERE THE PROJECTS IDENTIFIED IN THE PROJECT AND FINANCING PLAN FOR THIS TIRS, SO, IN ORDER TO KEEP THING S COMPACT, AND ON ONE SLIDE, CONSISTENCY BETWEEN THE TIRS PRESENTATIONS, I CHOSE TO PUT IT IN THAT ASTERISK METHOD OF FORMATTING.
>> SO SOME OF THE PLANS LIKE INDUSTRIAL STREET RECONSTRUCTION IS IN PROCESS BUT SOME OF THESE PROBABLY HAVEN'T BEEN STARTED AT ALL, JUST PART OF A PLAN. AM I SURMISING THAT CORRECTLY?
>> I WOULD NEED TO DEFER TO ENGINEERING AS TO THE STATUS OF
THE PROJECT. >> YEAH, I MEAN, THAT IS TRUE.
NOT NECESSARILY ALL CITY DIRECT PLANS.
>> GOT IT. >> THAT IS-- I JUST WANTED TO MAKE SURE I UNDERSTOOD WHAT I WAS LOOKING AT. THANK YOU.
>> FOLLOWING UP ON YOUR LAST COMMENT, I CERTAINLY WOULD BE IN FAVOR OF ASKING FOR ANOTHER TIRS BOARD MEETING PRIOR TO NEXT YEAR TO TAKE UP THE POSSIBLE CHANGES TO THE PLAN, AS YOU WERE GOING DOWN THAT LINE. I WOULD BE IN FAVOR OF THAT.
>> I WOULD SECOND THAT. >> I THINK THE BEST APPROACH THERE IS NOT TO SET A DATE TODAY, BUT TO PROBABLY GIVE THAT SOME THOUGHT AND MAYBE ASK ONE OF YOU OR TWO OF YOU FORM A COMMITTEE OF THE TIRS, IF YOU WILL, TO COME UP WITH WHAT THAT MIGHT LOOK LIKE, WORK WITH STAFF ON THAT, BECAUSE WE WOULD CERTAINLY NEED THEIR INPUT AS WELL.
>> SO, WHEN YOU SAY COMMITTEE OF THE TIRS, IT WOULD BE MY UNDERSTANDING THE CHAIRMAN COULD WORK WITH US TO SET AN AGENDA, DATE, AND TIME, AND THEN THE COUNCIL COULD WORKSHOP, RATHER THE BOARD COULD WORKSHOP THE TOPICS, IF THE TOPIC IS, YOU KNOW, CHANGES OR AMENDMENTS TO THE PLAN, OR THE APPORTIONMENT OF THERE IN WE COULD PUT THOSE TOPICS ON THE AGENDA FOR THE ENTIRE BODY. IF YOU WANT TO CREATE, I DON'T KNOW HOW THE TIRS BOARD CREATES A SUB COMMITTEE, LITTLE DIFFERENT. I DON'T KNOW THAT IT IS RISEN BUT IT SEEMS IT MIGHT COMPLICATE IT VERSES THE CHAIR SETTING UP A MEETING, COORDINATING A MEETING AND AGENDA AND WE MEET AND WORKSHOP WITH IT.
>> I THINK THAT IS WHAT WE NEED. WHAT WE ARE MISSING HERE, REALLY, IS I THINK A COMPONENT OF EDUCATION AROUND THE TIRES AND WHAT OUR ACTUAL FUNCTION IS. I DON'T KNOW THAT ANY OF US HAVE THAT CRYSTAL CLEAR IN OUR MIND. WE ARE THE BODY WHICH ADMINISTERS THIS FUNCTION OF WHAT WE DO, BUT I DON'T KNOW ANY OF US HAVE A CRYSTAL CLEAR UNDERSTANDING BETWEEN THE LINES OF DRAWN WHAT WE DO AND THE CITY COUNCIL DOES AND THE CITY COUNCIL OFFICIAL CAPACITY. UNDERSTANDINGTHALITY BETTER MIGHT ADD CLARITY, SIMILAR TO HOUSING FINANCE, WHEN MADE OF THE CITY COUNCIL, WHERE DO WE DRAW THAT LINE BETWEEN WHAT THE HOUSING FINANCE CORPORATION IS RESPONSIBLE FOR VERSES CITY COUNCIL AND IN THEIR OFFICIAL CAPACITY.
>> HAPPY TO DO THAT, DON'T WANT US TO GO TOO FAR OFF YOUR AGENDA, WE CAN SET THAT UP WITH THE CHAIR AND CREATE AN AGENDA
[00:15:05]
AND MEETING DATE.>> OKAY. IS THAT ALL THE DISCUSSION FOR EVERYBODY? ANY QUESTIONS? ANYTHING MORE FROM MICHAEL? OKAY. WELL THEN, WE WILL GO AHEAD AND WE WILL TAKE A MOTION TO APPROVE RECOMMENDATION OF TIRS NUMBER THREE BUDGET, TO CITY COUNCIL. CORRECT?
MOTION IS NOT WORKING SOME SOMEBODY WANT TO CALL OUT A
MOTION? >> CAN YOU TURN YOUR MIC ON?
>> I MAKE A MOTION THAT WE APPROVE THE RECOMMENDATION FOR
THE TIRS NUMBER THREE BUDGET. >> I SECOND THAT.
>> WE HAVE A FIRST BY COUNCILMEMBER BOWERS, SECOND BY COUNCILMEMBER BRITAIN. WE GO AHEAD AND VOTE.
>> IS THERE ADDITIONAL DISCUSSION? CALL FOR THE VOTE. I AM KIND OF NEW AT THIS, Y'ALL, SO BARE
WITH ME. >> WE HAVE TO DO IT BY HAND.
>> DID IT WORK? >> IS NOT WORKING.
>> YEAH. >> HAND VOTE. AND HAND VOTE IS UNANIMOUS. OKAY, I DID NEGLECT TO DO THE SAME THING ON THE TIRS TWO, SO WE WILL, WELL, LET ME
* This transcript was compiled from uncorrected Closed Captioning.