City Council

JOINT WORKSHOP MEETING OF CITY COUNCIL AND BALCH SPRINGS INDUSTRIAL AND ECONOMIC DEVELOPMENT CORPORATION TYPE A AND BALCH SPRINGS COMMUNITY AND ECONOMIC DEVELOPMENT CORPORATION TYPE B CITY OF BALCH SPRINGS NOVEMBER 2, 2015 6:30 PM MINUTES Identification of quorum. Present: Mayor Pro Tem Burnett Councilmember Gorwood Councilmember Rushing Councilmember Adams Councilmember Hill Mayor Marshall Absent: Councilmember Taylor A quorum was present and Mayor Marshall called the meeting to order at 6:30PM. Staff: Suzy Cluse, City Manager Charles Fenner, Assistant City Manager Cindy Gross, City Secretary Carl Wessels, Chief Financial Officer Chris Dyser, Planner Monte Akers, City Attorney JOINT WORKSHOP MEETING: TYPE A, TYPE B AND CITY COUNCIL 1. Discussion of tax increment financing and possible creation of a Tax Increment Reinvestment Zone Number One, City of Balch Springs, Texas, and related issues. John Hubbard gave a presentation regarding Tax Increment Financing Zone preliminary plan. Mr. Hubbard stated that the tax increment financing is a tool so that local governments can use publicly finance needed for structural improvements and enhance infrastructure within a defined area. Mr. Hubbard stated that the original Tax Increment Financing Zone was proposed to include  approximately 1,362 acres of land within the city located along Hickory Tree Road and along Beltline Road from Pioneer Road to Lakeside Road. Mr. Hubbard stated that he had met with Dallas County regarding the tax increment financing zone and was expanded to approximately 1,600 acres. Mr. Hubbard discussed the current zoning, proposed zoning and uses regarding Tax Increment Financing Zone. Mr. Hubbard stated the proposed improvement project costs totaling an estimated $60,604,684.00 over the life of the zone. Mr. Hubbard also discussed the next steps for the city council and the economic development boards: (1) November 9th City Council meeting for approval of the proposed preliminary plan for the tax increment financing zone and (2) hold a public hearing on December 14th approving the creation of the tax increment financing zone. The Economic Development Boards will give their approval of a resolution authorizing a percentage of the sales tax revenues at a future meeting. Andre Ayala, First Southwest Vice President, gave a presentation regarding the Tax Increment Reinvestment Zone No.1. Mr. Ayala held a discussion regarding the project zone and an aggregate summary for area zones, total projected economic impact (30 years) for the city and economic development corporations and preliminary contribution assumptions. 2. Adjourn. Mayor Marshall adjourned the joint workshop meeting at 7:47PM. PASSED AND APPROVED AT A REGULAR MEETING HELD ON DECEMBER 7, 2015. _________________________________________ Mayor _______________________________________ City Secretary 2