TIRZ No. 1 and No. 2 Board Meeting

Tax Increment Reinvestment Zone (TIRZ) No. 1 & No. 2 Board Regular Meeting Minutes March 4, 2019 at 4:00 p.m. A Regular Meeting of the TIRZ No. 1 & No. 2 Board was held Monday, March 4, 2019 beginning at 4:00 p.m. in in the City Hall Council Chambers located at 511 Mercer Street, Dripping Springs, Texas. I. CALL TO ORDER AND ROLL CALL Board Members present were: Dave Edwards, Chair Mim James, Vice Chair Missy Atwood Mike Figer John McIntosh Board Members absent were: Dr. Bruce Gearing Ray Whisenant Ron Jones (Advisory Board Member) Bob Richardson (Advisory Board Member) City Staff/Appointed Officials: Michelle Fischer, City Administrator Andrea Cunningham, City Secretary Laura Mueller, City Attorney Keenan Smith, TIRZ Projects Manager Aksel Dregelid, David Taussig & Associates, TIRZ Administrator (via teleconference) Hector Perez, David Taussig & Associates, TIRZ Administrator (via teleconference) Darin Smith, Economic Planning Systems (via Teleconference) Jim Adams, McCann Adams Studio (via Teleconference) Council Member John Kroll Council Member Taline Manassian II. PRESENTATION OF CITIZENS Floor open to discussion on any subject. No action may be taken by law. Citizens wishing to speak shall do so after being recognized by the Chair. The Chair may establish a time limit as necessary. No one spoke during Presentation of Citizens. III. MINUTES A. Discuss and consider approval of the February 4, 2019 TIRZ No. 1 & No. 2 Board regular meeting minutes. TIRZ No. 1 & No. 2 Board March 4, 2019 Regular Meeting Minutes Page 1 of 4  A motion was made by Vice Chair James to approve the February 4, 2019 TIRZ No. 1 & No. 2 Board regular meeting minutes. Board Member McIntosh seconded the motion which carried unanimously 5 to 0. IV. BUSINESS A. Update and discussion regarding the TIRZ Town Center Project 1. "Plan B "Studies, Analysis & Next Steps Keenan Smith and Jim Adams presented the staff report which is on file. An update will be provided at the April meeting and Board direction will be needed. Chair Edwards stated that the Board will be presented with two (2) to three (3) options and will be asked to provide direction on the selected option. 2. P3 Implementation Strategies Status Darin Smith presented the item. There is good progress with regards to phasing and funding, and limited private opportunities merits a more streamlined project and existing infrastructure. May need more time to review the DSISD option which would be to either allow the DSISD structures to remain or to completely remove the current buildings. The Board discussed demolition costs and the DSISD preliminary analysis. Board Member Atwood will follow up with the DSISD School Board regarding the preliminary analysis and its findings on abatement and code compliance of the buildings. 3. Infrastructure Costs Estimating Support Keenan Smith presented a draft preconstruction consulting services agreement with AG|CM, Inc. to assist the TIRZ Project Team in the evaluation of development options for the proposed Town Center, including private partnership implementation strategies. Darin Smith discussed infrastructure costs but knowing the preferred project will yield more concrete const estimates. Keenan Smith agreed that actual infrastructure plans are need for a more definitive cost. The Board directed Keenan Smith to move forward with negotiations with AG|CM, in an amount not to exceed $15,000.00 B. Update and discussion regarding TIRZ Priority Projects 1. Task Order No. 2 Scopes of Work & Timelines Keenan Smith presented the Scopes of Work and Timelines which are on file. The Task Order has been executed and has kicked-off. Old Fitzhugh Road TIRZ No. 1 & No. 2 Board March 4, 2019 Regular Meeting Minutes Page 2 of 4  HDR is looking into implementation funding with the Transportation Committee, and Doucet is working on drainage and easements. The concept plan is ready and approved and in March dedication surveying will start. Triangle Working on the FEMA Floodplain issues, and there is no timeline in place yet for this project. Downtown Parking Project was deferred from Task Order No. 1 to Task Order No. 2 and timelines for this project are on file. 2. Current Project Cost Analysis & Summary Keenan Smith presented the Current Project Cost Analysis and Summary which is on file. Project costs and allocations are solid. C. Discussion regarding Hays County Representation Appointments to the TIRZ Board. Michelle Fischer presented the item. The City Council will consider Hays County appointments at the March 12, 2019 Regular City Council meeting. D. Presentation and discussion of TIRZ Administrator David Taussig & Associates Draft Cost Allocation & Reimbursement Report Hector Perez, David Taussig & Associates and Chair Mim James Vice Chair James presented the item. The report reviews the financial data flowing between the City, County, School District and Library District, and will be presented to the Board on a quarterly basis. Taussig & Associates worked with Keenan Smith and Gina Gillis to develop the report. Aksel Dregelid and Hector Perez presented the draft report which is on file. The Board will work with City Staff and Keenan Smith to clean up the costs regarding indirect funds. The Board discussed the TIF (Tax Increment Fund) and the TIRZ (Tax Increment Reinvestment Zone) and how the valuation of change will continue through the life of the TIRZ Agreement. Vice Chair James discussed reimbursement costs and noted that County TIF revenue cannot be used until the City is reimbursed, and when the County recoups costs and then reimburses the other three party’s – County, School and Library. The next steps for reporting will include forecasting to include recapture of costs and reimbursements and long-range planning. Keenan Smith will work with Gina Gillis and Aksel Dregelid to validate the report numbers and provide a more detailed look at direct and indirect costs. A motion was made by Vice Chair James to have the Board review the Executive Summary Report on quarterly basis – May, August, November and February, and presented annually to the City Council. Board Member Figer seconded the motion which carried unanimously 5 to 0. TIRZ No. 1 & No. 2 Board March 4, 2019 Regular Meeting Minutes Page 3 of 4  Chair Edwards will meet with Aksel Dregelid to prepare the report for Hays County, to include timetables and forecasting. Chair Edwards will meet with Keenan Smith to review final documents. V. EXECUTIVE SESSION The TIRZ No. 1 & No. 2 Board for the City of Dripping Springs has the right to adjourn into executive session at any time during the course of this meeting to discuss any matter as authorized by Texas Government Code Sections 551.071 (Consultation with Attorney), 551.072 (Deliberations about Real Property), 551.073 (Deliberations about Gifts and Donations), 551.074 (Personnel Matters), 551.076 (Deliberations about Security Devices), and 551.086 (Economic Development). The TIRZ No. 1 & No. 2 Board for the City of Dripping Springs may act on any item listed in Executive Session in Open Session or move any item from Executive Session to Open Session for action. The Board did not meet in Executive Session. VI. UPCOMING MEETINGS A. TIRZ Board Meetings: April 1, 2019 - 4:00 Regular Meeting May 6, 2019 - 4:00 Regular Meeting B. City Council & BOA Meetings: March 5, 2019 - 6:00 p.m. Special Meeting March 12, 2019 - 6:00 p.m. Workshop / 6:30 p.m. Regular Meeting March 19, 2019 - 6:00 p.m. Regular Meeting VII. ADJOURN A motion was made by Vice Chair James to adjourn the meeting. Board Member Atwood seconded the motion which carried unanimously 5 to 0. This regular meeting adjourned at 5:58 p.m. TIRZ No. 1 & No. 2 Board March 4, 2019 Regular Meeting Minutes Page 4 of 4