TIRZ #1, 2, 3 and 4/Power Center Board Meeting
Regular MeetingTerrell, TX · August 16, 2023
Agenda
AGENDA
TIRZ #1, 2, 3 and 4/Power Center
Board Meeting
12:00 PM - Wednesday, August 16, 2023
City Council Chambers, 201 E. Nash Street, Terrell, TX
Board Members
Juan Salazar, Chairman
Terry Barber, Vice-Chairman
Mike Hunt, Board Member
Charles Whitaker, Board Member
Donna Anderson, Board Member
City Manager Mike Sims
NOTICE IS HEREBY GIVEN that the TIRZ No.1, 2, 3 & 4 / Power Center Board will conduct a
meeting at 12:00 p.m. on Wednesday, August 16, 2023, at Terrell City Hall located at 201 East
Nash Street. The meeting is open to the public with limited seating in the Council Chambers.
If you choose not to attend in person and you wish to submit public comments, email
support@cityofterrell.org and title the email ”Public Comment”. All public comments submitted
by 8:00 a.m. on Wednesday, August 16, 2023 will be provided to the TIRZ No.1, 2, 3 & 4 / Power
Center Board Members and recorded into the minutes for the Wednesday, August 16, 2023
TIRZ No.1, 2, 3 & 4 / Power Center Board.
Page
1. CALL TO ORDER
2. INVOCATION
3. PLEDGE TO AMERICAN FLAG AND TEXAS FLAG.
Page 1 of 43
4. HEAR REMARKS FROM VISITORS
This time is set aside on the agenda to invite any person to address the
Board on issues not subject to a public hearing. Routine administrative
matters are best discussed with the appropriate City Staff before bringing
them to the Board. Prior to the meeting, please complete a "Citizen
Participation Form" and present it to the Administrative Assistant. In
accordance with the Texas Open Meetings Act, Section 551.042, the
Board cannot discuss, consider, or take action on matters not listed on
the agenda. Speakers should limit their comments to 3 minutes and are
asked to speak into the microphone provided, identifying themselves for
the record. The total amount of time set aside for this place on the agenda
is 15 minutes. Comments of a personal nature directed at the Board or
Staff are inappropriate.
5. ADOPTION OF MINUTES
5.1. Discuss approval of minutes from the Tax Increment Reinvestment Zone 4 - 5
No. 1, 2, 3 and 4 and Power Center Board Meeting on July 19, 2023.
TIRZ #1, 2, 3 and 4/Power Center Board Meeting - Jul 19 2023 -
Minutes - Pdf
6. DISCUSSION ITEMS
6.1. Discuss Regular Financial Reports. 6
Financials TIRZNo1 w/o FundBalance_063023
6.2. Discuss PID Overview. 7 - 18
Public Improvement Districts
6.3. Discuss 10 Year Capital Borrowing Plan. 19 - 33
10 Year Capital Borrowing Plan
6.4. Discuss Budget Schedule. 34 - 40
Budget Schedule TIRZ Presentation
6.5. Discuss FY24 Budgets for TIRZ #1, TIRZ #2, TIRZ #3, TIRZ #4 and 41 - 43
Power Center.
TIRZ #1 and Power Center Budget
Page 2 of 43
7. ADJOURN INTO EXECUTIVE SESSION IN ACCORDANCE WITH
SECTION 551 OF THE TEXAS GOVERNMENT CODE TO DISCUSS
THE FOLLOWING:
7.1. Section 551.087 Deliberations Regarding Economic Development
Negotiations.
8. RECONVENE INTO REGULAR SESSION AND CONSIDER ACTION, IF
ANY, ITEMS DISCUSSED IN EXECUTIVE SESSION.
9. ADJOURN.
I, the undersigned authority, do hereby certify that the above NOTICE OF
MEETING of the TIRZ #1/Power Center Board is a true and correct copy of said
NOTICE, which has been posted on the front OUTDOOR BULLETIN BOARD
CABINET FOR AGENDAS of the Terrell City Hall, Terrell, Texas, a place
convenient and readily accessible to the General Public and on the website at
cityofterrell.org, and which has been continuously posted for a period of seventy-
two (72) hours prior to the date and time said meeting was convened. Posted
Friday, August 11, 2023 –5:00 p.m.
_______________________________________
Dawn Steil, City Secretary
This facility is wheelchair accessible and accessible parking spaces are available. Requests for
accommodations or interpretive services must be made 48 hours prior to this meeting. Please
contact the City Secretary’s office at 972-551-6600 for further information. Braille is not
available.
TIRZ #1/Power Center Board Reserves the Right to Adjourn into Executive Session to Seek
Legal Counsel on a Matter Which the Canon of Legal Ethics Demands to Preserve the Attorney-
Client Privilege Pursuant to Section 551.071(2) of the Texas Government Code.
Page 3 of 43
ITEM 5.1.
MINUTES
TIRZ #1, 2, 3 and 4/Power Center Board
Meeting Meeting
12:00 PM - Wednesday, July 19, 2023
City Council Chambers, 201 E. Nash Street, Terrell, TX
The City of Terrell Council met in TIRZ #1, 2, 3 and 4/Power Center Board Meeting on Wednesday, July 19,
2023 at 12:00 PM in the City Council Chambers, 201 E. Nash Street, Terrell, TX.
MEMBERS Board Member Mike Hunt
PRESENT: Chairman Juan Salazar
Board Member Donna Anderson
MEMBERS Vice-Chairman Terry Barber
ABSENT: Board Member Charles Whitaker
STAFF PRESENT: City Secretary Dawn Steil
Administrative Assistant Dora Trejo
1 CALL TO ORDER
Juan Salazar called the meeting to order.
2 INVOCATION
Donna Anderson gave the invocation.
3 PLEDGE TO AMERICAN FLAG AND TEXAS FLAG.
Juan Salazar led the pledge.
4 HEAR REMARKS FROM VISITORS
None.
5 ADOPTION OF MINUTES
a) Discuss and Consider approval of minutes from the Tax Increment Reinvestment Zone No. 1,
2, 3 and 4 and Power Center Board Meeting on July 3, 2023.
Mike Hunt moved to approve the Minutes from the Tax Increment Reinvestment Zone
No. 1, 2, 3 and 4 and Power Center Board Meeting on July 3, 2023, with Donna
Anderson seconding the motion. Carried by the following votes:
Ayes: Mike Hunt, Juan Salazar, and Donna Anderson
TIRZ #1, 2, 3 and 4/Power Center Board Meeting July 19, 2023
Meeting
Page
Page41ofof43
2
ITEM 5.1.
6 DISCUSSION ITEMS
a) Discuss TIRZ No.1 Financial Report.
City Secretary, Dawn Steil presented this item to the Board for Discussion.
b) Discuss Power Center Financial Report.
City Secretary, Dawn Steil presented this item to the Board for Discussion.
c) Discuss Downtown Update.
Downtown Projects Manager, Raylan Smith presented this item to the Board for
Discussion.
d) Discuss 10 Year Capital Plan.
Downtown Projects Manager, Raylan Smith presented this item to the Board for
Discussion.
e) Discuss Fire Station 3 and Apache Trail Update.
Fire Chief, Shane LeCroy presented this item to the Board for Discussion.
f) Discuss FY24 Budgets for TIRZ #1, TIRZ #2, TIRZ #3, TIRZ #4 and Power Center.
Postponed
g) Discuss Meeting Schedule.
Administrative Assistant, Dora Trejo presented this item to the Board for Discussion.
7 BUSINESS ITEMS
a) Discuss and Consider TIRZ #3 Agreement for Eastland Business Park.
Postponed
8 ADJOURN INTO EXECUTIVE SESSION IN ACCORDANCE WITH SECTION 551 OF THE
TEXAS GOVERNMENT CODE TO DISCUSS THE FOLLOWING:
a) Section 551.087 Deliberations Regarding Economic Development Negotiations.
9 RECONVENE INTO REGULAR SESSION AND CONSIDER ACTION, IF ANY, ITEMS
DISCUSSED IN EXECUTIVE SESSION.
No action taken.
10 ADJOURN.
Chairman Juan Salazar
Attest:
City Secretary Dawn Steil
TIRZ #1, 2, 3 and 4/Power Center Board Meeting July 19, 2023
Meeting
Page
Page52ofof43
2
ITEM 6.1.
City of Terrell
TIRZ No.1 Increment Financing
For the Period Ending June 30, 2023
Schedule of Revenues & Expenditures - Budget Vs. Actual (Unaudited)
Current Fiscal Year 2022-2023
Jun 2023 Y-T-D Budget Y-T-D Y-T-D
Actual Actual 2023 Variance % Budget
Revenues
Tax Collections - County - - 480,721 (480,721) 0%
Tax Collections - City of Terrell - 1,761,749 (1,761,749) 0%
Interest income - County - 927 750 177 124%
Total Revenues - 927 2,243,220 (2,242,293) 0%
Expenditures
Consultant Fees & Services 5,200 36,068 90,000 (53,932) 40%
Senior/Library Assessment - 47,915 120,000 (72,085) 40%
TIRZ Administrative Costs - 6,649 60,000 (53,351) 11%
TIF Reimburse-Sinacola - - 11,371 (11,371) 0%
TIF Reimburse-Baylor - - 87,129 (87,129) 0%
TIF Reimburse-Terrell Mkt Ctr - - 87,129 (87,129) 0%
TIF Reimbursement-Buc ee's - - 101,737 (101,737) 0%
TIF Reimbursement-Crossroads - - 833,441 (833,441) 0%
Downtown Project Office - 14,782 250,000 (235,218) 6%
Town Square Master Plan 13,500 191,355 270,000 (78,645) 71%
Downtown Sidewalk Grant - - 80,000 (80,000) 0%
PINA Partnership - 74,700 75,000 (300) 100%
BFTS Preconstruction 5,058 48,684 90,000 (41,316) 54%
Demolition 10,950 43,112 300,000 (256,888) 14%
Drainage Landscape Project - - 100,000 (100,000) 0%
Land Acquisition - 24,200 130,000 (105,800) 19%
Debt Service - 242,329 346,184 (103,855) 70%
Total Expenditures 34,708 729,794 3,031,990 (2,302,196) 24%
Excess/(Deficit) (34,708) (728,867) (788,770) 59,903
Page 6 of 43
ITEM 6.2.
Public Improvement
Districts
CITY OF TERRELL
Page 7 of 43
1
ITEM 6.2.
Introduction to PIDs
Chapter 372 of Local Government Code Statute provides a legal and
regulatory framework that governs the process
Page 8 of 43
2
ITEM 6.2.
Big Picture Considerations
PIDs are NOT separate political subdivisions. The City
Council is the de facto board.
Allows Cities to extend public infrastructure without
burdening existing rate payers and tax payers.
Economic development tool can be useful when
negotiating with developers (annexation, oversizing,
amenities, etc.).
Grows the City’s tax base without obligating City revenues
(380 Agreements, etc.).
PIDs can be used to forward the City’s Comprehensive
Plan, Thoroughfare Plan and Parks Plan
Page 9 of 43
3
ITEM 6.2.
Why utilize a PID?
Use PIDs as an economic development incentive tool to promote the goals of
the City
Incentivizes amenities and/or annexation by the developer, but for the creation
of the PID would not normally occur
• Superior plan, design, architecture and building materials that exceed subdivision
building standards
• Lot and residential unit size that align with the City’s goal for economic growth
• Private amenities tailored to the community
o Pools
o Playgrounds
o Fitness Centers
o Enhanced Trails
Accelerate construction of improvements described in City’s Comprehensive
Plan, Thoroughfare Plan and Parks Plan
City can require cash contribution from developer (non PID funds) to fund City
projects
Page 10 of 43
4
ITEM 6.2.
How Does a PID Work?
PID is formed over a defined area in the corporate limits of the City or the City’s ETJ
Assessments (not a tax) are levied on property within the PID based on the benefit received
from PID improvements
Assessments can be paid in full or paid in annual installments
The assessments are a lien that run with the land
The Assessments are used to pay
• Debt service on tax-exempt bonds issued to fund PID improvements, or
• Reimbursement agreement with developer, including interest
Administrative expenses are included in the annual installment
Page 11 of 43
PID Boundary
(area must be contiguous)
5
ITEM 6.2.
How Does a PID Work?
PID assessment is levied against property within the PID boundary without regard to growth
in actual assessed valuations
Home Value Property Taxes PID Assessment
Page 12 of 43
6
ITEM 6.2.
How Is a PID Created?
PID Petition submitted by developer
Professional Services Agreement executed and developer funds
deposited with City
Development Agreement entered into with the City and Developer
• Public hearing on advisability of creating PID
• PID creation resolution approved by City Council
Preparation of Service and Assessment Plan, Construction Funding
Agreement, Landowner Agreement, and bond documents (if bonds are
contemplated)
Public hearing on levy of assessment
Assessment Ordinance, Service and Assessment Plan, PID Finance
Agreement, Landowner Agreement, and bond documents approved by
City Council
Typically a 6 month process
Page 13 of 43
7
ITEM 6.2.
Weighing PID Benefits/Challenges
BENEFITS POTENTIAL CHALLENGES
Annexation Public perception
Increased/accelerated tax base Headline risk
Enhanced projects and amenities Market (Bonds)
Advancing City master plans Administrative burden
Covenant to foreclose
Page 14 of 43
8
ITEM 6.2.
PID Financial Metrics – Tax Stack
PID assessment is converted to a tax rate equivalent (“TRE”)
TRE is based on the assumed future home value and added to all overlapping taxes
Important to remember that the tax stack is a metric at a point in time as tax rates and home values change
TIRZ may overlay a PID; in this case, TIRZ revenues may be used to offset annual PID assessments
Estimated Year Home Value TRE
Taxes/ 1 $ 250,000 $0.800
Assessment 2 255,000 $0.784
To be Paid 3 260,100 $0.769
City $ 0.6198 $ 1,549.50 4 265,302 $0.754
School 1.2186 3,046.50 5 270,608 $0.739
County 0.2250 562.50 10 298,773 $0.669
PID Assessment TRE 0.8000 2,000.00 15 329,870 $0.606
Total Tax Stack $ 2.8634 $ 7,158.50 20 364,203 $0.549
Page 15 of 43
LESS: TIRZ Credit (25%) (0.1550) (387.38) 25 402,109 $0.497
Net Tax Stack $ 2.7085 $ 6,771.13 30 443,961 $0.450
9
ITEM 6.2.
PID Financial Metrics – Value to Lien
One financial measure of the amount of debt placed on a property
`
Scenario 1 Scenario 2 Scenario 3
Value of Land $ 30,000,000 $ 30,000,000 $ 30,000,000
Debt/Lien Placed on Land $ 10,000,000 $ 12,000,000 $ 15,000,000
Value to Lien (VtL) 3:1 2.5:1 2:1
Value of land is typically based on an appraisal that takes into account horizontal improvements, i.e. infrastructure
and related work necessary to produce a “finished lot”
The lower the value to lien, the more leverage (debt) the property has on it
Additionally, the lower the value to lien the larger a potential bond issue can become; results in the developer
receiving more money for infrastructure
Page 16 of 43
10
ITEM 6.2.
Summary
Tax Increment Reinvestment Zones Public Improvement Districts
Creation City Council City Council, after receiving petition from landowner
Separate Governmental
No No
Entity
Revenue Stream Property Taxes and/or Sales Taxes Assessments
Additional Cost to Owner No Yes
Ability to Debt Finance Yes - Typically Direct Obligation of the City Yes - Typically Special Obligation of the City
1. Levy of assessments, 2. Issuance of debt (collection of
1. Development/update of Project and Finance Plan, 2. Collection
Administrative assessments, SEC reporting, IRS - tax exemption), 3. Foreclosure on
and allocation of revenues, 3. Issuance of debt, if any, 4. Annual
Responsibilities property for non-payment, if necessary, 4. Annual administrative
reporting, 5. Annual administrative costs (paid out of the TIRZ)
costs (paid out of PID)
Page 17 of 43
Termination Earlier of Specified Date or Collection of Full TIRZ Revenue Amount Earlier of Specified Date or Collection of All Assessments
11
12
ITEM 6.2.
Questions?
Page 18 of 43
ITEM 6.3.
City of Terrell
Draft
10 Year Capital Plan
FY23-FY32 Update
August 3, 2023 Draft
Page 19 of 43
1
ITEM 6.3.
Source Project
• Temple, Metro Drive, Jamison Extension
Construction in Progress
• South Alley Underground electrical design
I&S in progress
Recent •
•
Temple / Stallings Drainage in progress
New Animal Adoption facility – acquisition
Success in progress; rehab budgeted
With Capital TIRZ #1
• Land Acquisition – Town Square and
Downtown Parking complete
Projects
(City related debt issuances only)
• Park Lighting Complete
PADIC
• Park Bathrooms On Order
• Kings Creek Waste Water Treatment Plan
Upgrade near completion
• North Alley Water & Sewer Utilities
Relocation complete
TXWDB • 80/205 Intersection Water & Sewer Utilities
Page 20 of 43
Relocation complete
• Market Center Lift Station in progress
• South alley Water & Sewer Utilities –
design in progress 2
ITEM 6.3.
Debt Series Major Projects
CO, Taxable Series 2011A 20" WATER MAIN (CENTRAL TOWN)
CO, Series 2014 POLICE HEADQUARTERS BUILDING
CO, Series 2019A NORTH ALLEY, HWY 80/205 (WATER)
CO, Taxable Series 2019B WWTP PH 1, NORTH ALLEY SEWER
Tax Notes, Series 2019 SOUTH ALLEY, NORTH ALLEY (WATER)
Debt CO, Series 2020A
CO, Series 2021 (10 Year)
WWTP PH 1, 2; MARKET CENTER LS
AMI METERS, Asphalt Streets, PD/FD Radios
Review CO, Series 2021A
TEMPLE, METRO, JAMISON
PADIC PARK IMPROVEMENTS (BATHROOMS/LIGHTS)
CO, Taxable Series 2021A TOWN SQUARE LAND ACQUISITIONS
(Obligations in FY25 and CO, Series 2021B LAND ACQUISITION - TOWN SQUARE, NEW PET ADOPTION CENTER,
beyond) FIRE STATION #3, DOWNTOWN PARKING, SOUTH ALLEY
CO, Taxable Series 2021C KINGS CREEK WWTP
GO Refunding, Series 2021 REFUNDING OF GRIFFITH DEBT
CO, Series 2022A SOUTH ALLEY (SEWER), MARKET CENTER LS, MISC WW MAINS
CO, Taxable Series 2022B POETRY ELEVATED TANK
PUMP STATION/GS TANK; HWY 205 UTIL RELO; E. MOORE WATER;
CO, Series 2023A
JUNE-HARRISSE WATER
Page 21 of 43
SEWER PROJECT - HIGHWAY 205 UTILITY RELOCATIONS; NEXT
CO, Taxable Series 2023B
PHASE OF KINGS CREEK WWTP
3
Draft CATEGORY FY 2023 NOTES ITEM 6.3.
10 Year WATER $ 11,450,000 Council Approved Fall 2022 TXWDB/City
Capital Plan SEWER $ 7,090,000 Council Approved Fall 2022 TXWDB/City
FY23 STREETS
(Proposed)
$ 7,000,000
Facility Related Streets: Apache and Newton
Additional “Red" Local Streets TBD
Example Candidates:
Borrowing Short segments of East Brin, Blanche, Daniels,
Corner of Colquitt and 9th
Build Fire Station #3
No recommended change to FACILITIES
$ 20,000,000
After final costs for Station #3 are determined,
tax rate. (Proposed) consideration for Station #2 Remodel, Fire Training
Land, Facility Improvements, Park Land Acquisition
Savings on projects may be
flexed only to projects listed in
the debt issue at Council TOTALS $ 45,540,000
discretion.
Page 22 of 43
4
CATEGORY FY 2024 NOTES
STREETS ITEM 6.3.
Draft FACILITIES
10 Year
Capital Plan PARKS
FY24 DOWNTOWN
Borrowing
WATER
May consider a small scale
short-term borrow for Public
Safety equipment SEWER
DRAINAGE
Page 23 of 43
AIRPORT
No Planned City 5
TOTALS $ 0
Borrowing in FY24
CATEGORY FY 2025 NOTES
ITEM 6.3.
Draft STREETS $ 4,000,000 Local Street Group
10 Year FACILITIES
Capital Plan PARKS
FY25 TIRZ #1 Street
Borrowing DOWNTOWN $ 4,000,000 Capital
Improvements
Pump Station,
SH205, IH20, Water
WATER $ 8,600,000
Utility Capital
Projects
SH205, Market
Center LS, WW
Will also include Fire Engine short SEWER $ 4,350,000
Utiity Capital
term issue. Projects
Downtown Storm
DRAINAGE $ 12,000,000 water and Priority
Locations
Page 24 of 43
AIRPORT
TOTALS $ 32,950,000 6
CATEGORY FY 2026 NOTES
ITEM 6.3.
Additional Local
STREETS $ 4,000,000
Street Projects
FACILITIES
Draft
10 Year PARKS
Capital Plan DOWNTOWN $ 4,000,000
PADIC Complete
Streets and Quiet
Zones (Local Match)
FY26 Town Square,
Borrowing WATER $ 6,200,000
Service Line Federal
Requirements,
Poetry Tank
Market Center LS,
SEWER $ 8,300,000 Town Square, Rose
Hill LS
DRAINAGE
Page 25 of 43
TOTALS $ 22,500,000 7
CATEGORY FY 2027 NOTES
ITEM 6.3.
STREETS
Relocate Public
Draft FACILITIES $ 40,000,000
Library to Town
Square
10 Year PARKS
Capital Plan TIRZ #1
DOWNTOWN $ 7,000,000 Downtown Capital
FY27 Improvements
Town Square,
Borrowing WATER $ 5,000,000 Additional Capital
Projects
SEWER
DRAINAGE
Page 26 of 43
Capital Projects -
AIRPORT $ 5,000,000 Airport Master
Plan Phase 1
TOTALS $ 57,000,000 8
CATEGORY FY 2028 NOTES
ITEM 6.3.
"Red" Local
STREETS $ 8,000,000 Streets and
Sidewalks
$10M Fire Drill
Draft FACILITIES $ 5,000,000 Field and
Administration
10 Year PARKS
Capital Plan PADIC Complete
Streets and Quiet
FY28 DOWNTOWN $ 5,000,000 Zones (Local
Match)
Borrowing WATER
Westside WWTP
SEWER $ 20,000,000 (partial TIRZ #2
funding)
Drainage Projects
DRAINAGE $ 2,000,000
(TBD)
Page 27 of 43
AIRPORT
9
TOTALS $ 40,000,000
CATEGORY FY 2029 NOTES
ITEM 6.3.
STREETS
Draft FACILITIES
Park Capital
10 Year PARKS $
Improvements and
2,000,000 Grant Matching
Funds
Capital Plan
FY29 DOWNTOWN
Borrowing WATER $ 7,000,000
NTMWD 2nd take
point
Infill Capital
SEWER $ 4,000,000
Projects (TBD)
DRAINAGE
Page 28 of 43
AIRPORT
TOTALS $ 13,000,000 10
CATEGORY FY 2030 NOTES
ITEM 6.3.
STREETS
Draft FACILITIES $ 20,000,000
Fire Station #1
Relocation
10 Year PARKS
Capital Plan DOWNTOWN
FY30
Borrowing WATER
Infill Capital
SEWER $ 4,000,000
Projects (TBD)
DRAINAGE
Page 29 of 43
AIRPORT
TOTALS $ 24,000,000 11
CATEGORY FY 2031 NOTES
"Red" Local Streets ITEM 6.3.
STREETS $ 8,000,000
and Sidewalks
Draft FACILITIES
10 Year PARKS
Capital Plan
DOWNTOWN
FY31
Borrowing WATER $ 10,000,000
NTMWD 2nd take
point
SEWER
Drainage Projects
DRAINAGE $ 10,000,000
(TBD)
Page 30 of 43
Capital Projects -
AIRPORT $ 5,000,000 Airport Master Plan
Phase 2
TOTALS $ 33,000,000 12
CATEGORY FY 2032 NOTES
"Red" Local Streets ITEM 6.3.
STREETS $ 10,000,000
and Sidewalks
Draft FACILITIES
Park Capital
10 Year PARKS $
Improvements and
2,000,000 Grant Matching
Capital Plan
Funds
FY32 DOWNTOWN $ 8,000,000 PADIC Next Phase
Borrowing WATER $ 5,000,000
Capital Projects
(TBD)
Capital Projects
SEWER $ 5,000,000
(TBD)
DRAINAGE
Page 31 of 43
AIRPORT
TOTALS $ 30,000,000 13
CATEGORY TOTAL
ITEM 6.3.
STREETS $ 36,000,000
Draft FACILITIES $ 88,000,000
10 Year PARKS $ 5,000,000
Capital Plan DOWNTOWN $ 28,000,000
Total
Borrowing WATER $ 53,250,000
SEWER $ 52,740,000
DRAINAGE $ 25,000,000
Page 32 of 43
AIRPORT $ 10,000,000
TOTALS $ 297,990,000 14
Additional Future Projects not ITEM 6.3.
included in the 10 year plan (not in
priority order)
Draft Police Department Expansion
10 Year Municipal Court Building
Additional Improvements to
Capital Plan Downtown and Existing Parks
FY33 and Local Match necessary for grants and
partnerships
Beyond Senior Center Replacement
Borrowing City Hall Replacement
Major new City only roadways
Additional Drainage Projects
Water and Sewer rehabilitation
Lake rehabilitation
Page 33 of 43
Additional fire stations, parks, and
other projects driven by additional
development
15
ITEM 6.4.
Budget Schedule
Page 34 of 43
ITEM 6.4.
As of today: August 16, 2023
1. City Council Preliminary Budget Discussions (June / July Tuesday evenings)
2. Receive Certified Values from KCAD (July 24, 2023)
3. (July 28, 2023)
a. Draft Budget Sent to Council and Posted on Website
b. Post Tax Rate on Website (on comptroller’s form)
4. Council Retreat – FY 2022-2023 Budget (August 3-4, 2023)
5. (August 8, 2023)
a. Council Discussion of Draft Budget
b. Public Hearing for Solid Waste Rates
c. First Reading Solid Waste Ordinances
Page 35 of 43
ITEM 6.4.
August 22, 2023
6.
a. Council Budget Review
b. Council vote on debt issuance (CO 2023-C)
c. Resolution for publication of public hearing for tax rate and budget,
water, stormwater and wastewater rates
d. Send Public Hearing for tax rate and Public Hearing for Budget, water,
stormwater and wastewater rates to Tribune for 8/26 edition and post on
website
Page 36 of 43
ITEM 6.4.
August 29, 2023
7. Council Discussion of Final Budget
Page 37 of 43
ITEM 6.4.
September 12, 2023
8.
a. Public Hearing for Tax Rate
b. Public Hearing for Budget
c. First Reading Tax Rate Ordinance (vote by roll call).
d. First Reading Budget Ordinance.
e. Adoption of Tax Rate Ordinance. Must approve M&O and I&S rates
separately – make separate items on agenda
Page 38 of 43
ITEM 6.4.
September 19, 2023
9.
a. Adoption of Budget Ordinance on Second Reading. Post on website
with cover page.
b. Public Hearing for Water & Wastewater Rates
c. First Reading Water, Wastewater, and Stormwater Rates Ordinance
10. Adoption of Water, Wastewater, and Stormwater Rates Ordinance on
Second Reading
Page 39 of 43
ITEM 6.4.
October 1, 2023
NEW FISCAL YEAR BEGINS
Page 40 of 43
ITEM 6.5.
TIRZ #1 Draft FY24 Budget
Base Calculations
Draft Tax Year 2023 Calculations for the FY24 Budget
Based on Collection Rate of 1.025
Certified Freeze Adjusted Taxable $ 2,213,760,122
Certified TIRZ Amount (TIRZ 1, 2, 3 & 4) $ 426,345,673
Certified Freeze Adjusted Taxable After Tax Increment Loss $ 1,787,414,449
Proposed
Tax Rate
Description Per $100 M&O Taxes I&S Taxes Total
Draft M&O Taxes 0.61420 $ 11,253,855
Draft I&S Taxes 0.15000 $ 2,748,418
Draft Total 0.76420 $ 14,002,273
% of M&O % of I&S M&O Taxes I&S Taxes Total Valuation
TIRZ #1 Base 75% 75% $ 1,983,343 $ 484,372 $ 420,010,949
TIRZ #2 Base 80% 0% $ 6,125 $ ‐ $ 1,215,972
TIRZ #3 Base 80% 0% $ 9,736 $ ‐ $ 1,932,962
TIRZ #4 Base 80% 0% $ 16,047 $ ‐ $ 3,185,790
Valuation Total in all TIRZ $ 426,345,673
Page 41 of 43
ITEM 6.5.
TIRZ #1 Draft FY24 Budget
FY24 Draft TIRZ #1 Revenues and Expenditures
Estimated start of FY24 TIRZ Fund Balance $ 1,700,000
Account FY23 Budget FY24 Draft Budget
TIRZ #1 City Source Revenue $ 1,761,748 $ 2,467,716
TIRZ #1 County Source Revenue $ 480,721 $ 639,688
Interest $ 1,000 $ 30,000
Total TIRZ #1 Revenue $ 2,243,469 $ 3,137,404
Description 2023 Budget 2024 Budget FY 2024 ‐ NOTES
Placeri, BFTS Partnership, CBD
CONSULTANT FEES & SERVICES $ 90,000 $ 235,000
Marketing, P3Works
SENIOR / LIBRARY ASSESSMENT $ 120,000 $ 60,000 Continuation
TIRZ ADMINISTRATIVE COSTS $ 60,000 $ 60,000 General Fund Transfer
TIF REIMB SINA COLA $ 11,371 $ 13,076 Contract
TIF REIMB BAYLOR $ 87,129 $ 100,198 Contract
TIF REIMB TMC $ 87,129 $ 100,198 Contract
TIF REIMB BUC EE'S $ 101,737 $ 116,998 Contract
TIF REIMB CROSSROADS $ 833,441 $ 958,457 Contract
DOWNTOWN PROJECT OFFICE $ 250,000 $ 250,000 General Fund Transfer
DOWNTOWN MASTER PLAN $ 270,000 $ 75,000 Wrap up of Original Contract
DOWNTOWN SIDEWALK GRANT $ 80,000 $ 20,000 Close out only
PINA PARTNERSHIP $ 75,000 $ ‐ Paid out FY 2023
BFTS PRECONSTRUCTION $ 90,000 $ 35,000
DEMOLITION $ 300,000 $ 150,000 Murco ‐ Demolition
DOWNTOWN M&O $ 200,000 General Fund Transfer
DRAINAGE & LANDSCAPING $ 100,000 $ 100,000 Previous FY amount
DOWNTOWN PARKING LOT $ 300,000 FY 2024 only
LAND ACQUISITION $ 130,000 $ 130,000
TRANSFER TO IT $ 130,000
Drainage and Stormwater (Rochester contribution) $ 450,000 Transfer to Stormwater Fund
Downtown Contingency $ 50,000
TRANSFER TO I&S NO. 1 $ 346,184 $ 346,187 Previous FY amount, 2021 Debt Payment
Apache Trail $ 400,000 NEW, supporting the Fire Station #3
EXPENSES EXPENSES $ 3,031,990 $ 4,280,114
Summary Categories
Contracts $ 1,288,927
Recurring $ 1,491,187
One‐time $ 1,000,000
Downtown Contingency $ 50,000
Total of Summary Categories $ 3,830,114
Estimated end of FY24 Fund Balance $ 557,289
Page 42 of 43
ITEM 6.5.
DRAFT FY24 Power Center Budget
Estimated start of FY24 Power Center Fund Balance $ 492,173
FY23 Adopted Projected FY23 Draft FY24
Revenues
Budget Revenues Revenues Revenues
Account Name
COUNTY PWR CTR TAXES $ 346,292 $ 346,292 $ 398,236
CITY POWER CENTER TAXES $ 516,528 $ 516,528 $ 594,007
INTEREST INCOME $ 750 $ 750 $ 863
Revenue Totals $ 863,571 $ 863,571 $ 993,106
FY23 Adopted Projected FY23 Draft FY24
Expenses Budget Expenses Expenses Expenses
Account Name
Power Center Administration $ 20,000 $ 20,000 $ 20,000
TERRELL MARKET CENTER Based Reimbursements $ 106,825 $ 106,825 $ 122,849
BUC EE'S Based Reimbursements $ 79,278 $ 79,278 $ 91,169 CROSSROADS
Reimbursements $ 587,531 $ 587,531 $ 675,661
ENGINEERING $ 100,000
DRAINAGE LANDSCAPE PROJECT $ 100,000
Development Partnership $ 500,000
Expense Totals $ 993,634 $ 793,634 $ 1,409,679
Estimated End of FY24 Power Center Fund Balance $ 75,600
Page 43 of 43
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