TIRZ #1, 2, 3 and 4/Power Center Board Meeting

AGENDA TIRZ #1, 2, 3 and 4/Power Center Board Meeting 12:00 PM - Thursday, January 18, 2024 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 #1/Power Center Board will conduct a meeting at 9:00 a.m. on Thursday, January 18, 2024, 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 the day of the meeting will be provided to the TIRZ No.1, 2, 3 & 4 / Power Center Board Members and recorded into the minutes. Page 1. CALL TO ORDER 2. INVOCATION 3. PLEDGE TO AMERICAN FLAG AND TEXAS FLAG. 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 Page 1 of 9  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 and Consider approval of minutes from the TIRZ No. 1, 2, 3 and 4 - 6 4 and Power Center Board Meeting on January 3, 2024. TIRZ #1, 2, 3 and 4/Power Center Board Meeting - Jan 03 2024 - Minutes - Pdf 6. NEW BUSINESS 6.1. Discuss TIRZ No. 1 Resolution No. 2024-1, A Resolution Of The Tax 7 - 9 Increment Reinvestment Zone No. One Board Of Directors Recommending The Terrell City Council Authorize The Final Payment And Completion Of Existing Development Agreement For Downtown Building Renovation. TIRZ 1 Resolution 2024-1 7. ADJOURN INTO EXECUTIVE SESSION IN ACCORDANCE WITH SECTION 551 OF THE TEXAS GOVERNMENT CODE TO DISCUSS THE FOLLOWING: 7.1. Section 551.072 Deliberations Regarding Real Property. 7.2. Section 551.087 Deliberations Regarding Economic Development Negotiations. 8. RECONVENE INTO REGULAR SESSION AND CONSIDER ACTION, IF ANY, ITEMS DISCUSSED IN EXECUTIVE SESSION. Page 2 of 9  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, January 12, 2024 –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 9 ITEM 5.1. Draft MINUTES TIRZ #1, 2, 3 and 4/Power Center Board Meeting Meeting 12:00 PM - Wednesday, January 3, 2024 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, January 3, 2024 at 12:00 PM in the City Council Chambers, 201 E. Nash Street, Terrell, TX. MEMBERS Vice-Chairman Terry Barber PRESENT: Board Member Mike Hunt Chairman Juan Salazar Board Member Charles Whitaker Board Member Donna Anderson MEMBERS ABSENT: STAFF PRESENT: City Manager Mike Sims Assistant City Manager Mark Mills Executive Assistant Nicole Brown 1 CALL TO ORDER Juan Salazar called the meeting to order. 2 INVOCATION Terry Barber gave the invocation. 3 PLEDGE TO AMERICAN FLAG AND TEXAS FLAG. 4 HEAR REMARKS FROM VISITORS None. 5 ADOPTION OF MINUTES a) Discuss approval of minutes from the TIRZ #1, 2, 3 and 4/Power Center Board Meeting on November 8, 2023. Charles Whitaker moved to approve the minutes from the TIRZ #1, 2, 3 and 4/Power Center Board Meeting on November 8, 2023, with Terry Barber seconding the motion. Carried by the following votes: Ayes: Terry Barber, Mike Hunt, Juan Salazar, Charles Whitaker, and Donna Anderson TIRZ #1, 2, 3 and 4/Power Center Board Meeting January 3, 2024 Meeting Page 1 4 of 3 9 ITEM 5.1. 6 BUSINESS ITEMS Draft a) Discuss and Consider a TIRZ No.1 Development Agreement with Authorization Resolution for a Proficient Development, LLC, for the Kingsman Estates Development located northwest of the intersection of Eason Street and West End Street. Donna Anderson moved to approve the TIRZ No.1 Development Agreement with Authorization Resolution for a Proficient Development, LLC, for the Kingsman Estates Development located northwest of the intersection of Eason Street and West End Street, with Charles Whitaker seconding the motion. Carried by the following votes: Ayes: Terry Barber, Mike Hunt, Juan Salazar, Charles Whitaker, and Donna Anderson b) Discuss and Consider a TIRZ No. 2 Authorization Resolution for a Reimbursement of the City of Terrell Utility Capital Reserve Fund for the Brushy Creek Wastewater Treatment Study. Terry Barber moved TIRZ No. 2 Resolution No. 2024-1 for a Reimbursement of the City of Terrell Utility Capital Reserve Fund for the Brushy Creek Wastewater Treatment Study, with Charles Whitaker seconding the motion. Carried by the following votes: Ayes: Terry Barber, Mike Hunt, Juan Salazar, Charles Whitaker, and Donna Anderson c) Discuss and Consider a TIRZ No. 4 Authorization Resolution for a Reimbursement of the City of Terrell Utility Capital Reserve Fund for the Brushy Creek Wastewater Treatment Study. Mike Hunt moved to approve TIRZ No. 4 Resolution 2024-1 for a Reimbursement of the City of Terrell Utility Capital Reserve Fund for the Brushy Creek Wastewater Treatment Study, with Donna Anderson seconding the motion. Carried by the following votes: Ayes: Terry Barber, Mike Hunt, Juan Salazar, Charles Whitaker, and Donna Anderson 7 DISCUSSION ITEMS a) Discuss Downtown Development Update Downtown Project Manager Raylan Smith presented this item to the Board for discussion. b) Discussion of the Role and Assignments of P3Works. Assistant City Manager Mark Mills presented this item to the Board for discussion. c) End of FY23 Financial Reports. City Manager Mike Sims presented this item to the Board for discussion. d) Discuss Financial Reports. Assistant City Manager Mark Mills presented this item to the Board for discussion. 8 ADJOURN INTO EXECUTIVE SESSION IN ACCORDANCE WITH SECTION 551 OF THE TEXAS GOVERNMENT CODE TO DISCUSS THE FOLLOWING: Passed. 9 RECONVENE INTO REGULAR SESSION AND CONSIDER ACTION, IF ANY, ITEMS TIRZ #1, 2, 3 and 4/Power Center Board Meeting January 3, 2024 Meeting Page 2 5 of 3 9 ITEM 5.1. DISCUSSED IN EXECUTIVE SESSION. Draft Passed. 10 ADJOURN. Chairman Juan Salazar Attest: City Secretary Dawn Steil TIRZ #1, 2, 3 and 4/Power Center Board Meeting January 3, 2024 Meeting Page 3 6 of 3 9 ITEM 6.1. RESOLUTION NO. 2024-1 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE TAX INCREMENT REINVESTMENT ZONE NO. ONE RECOMMENDING THE TERRELL CITY COUNCIL AUTHORIZE THE FINAL PAYMENT AND CLOSING OF EXISTING DEVELOPMENT AGREEMENT FOR DOWNTOWN BUILDING RENOVATION. WHEREAS, the City of Terrell, Texas, (the “City”), promotes the development of a certain geographic area within its jurisdiction as authorized by the Tax Increment Financing Act, Chapter 311 of the Texas Tax Code, Vernon’s Texas Codes Annotated (the “Act”); and WHEREAS, the Terrell City Council on November 20, 2007, approved Ordinance No. 2355 creating Tax Increment Financing Reinvestment Zone No. One (TIRZ #1), establishing a Board of Directors for such Reinvestment Zone (“Board”) and approving the Project Plan and the Finance Plan; and WHEREAS, on September 8, 2008, the Kaufman County Commissioners’ Court approved an Interlocal Agreement with the City of Terrell for TIRZ #1, including the Project Plan and Finance Plan; and WHEREAS, the 2020 Amendment to the Project Plan and Finance Plan includes $16 million for Downtown Revitalization Projects; and WHEREAS, among these eligible Projects in the Capital Plan are partnerships with private developers in the downtown area to create capital improvements that rehabilitate and refurbish downtown buildings, downtown streetscapes and downtown amenities; and WHEREAS, Pina Holdings, LLC (“Company”) proposed a series of improvements which qualify as a Project, including the restoration and reuse of the historic Anderson Building described as 201 East Moore Avenue, Lots 12 & 13, Block 77, Terrell Original Addition and the restoration and reuse of the historic Griffith Building described as Lot 3, Block 84, Terrell Original Addition, in the City of Terrell, Kaufman County, Texas; and WHEREAS, the total incremental property tax increment from the Anderson Building Project is estimated at $323,051 in total City and County combined TIRZ #1 revenue over the remaining term of TIRZ #1; and WHEREAS, the Board has concluded and hereby finds the Pina Holdings Project supports quality of life development, promotes new construction, attracts additional consumers to Terrell and Kaufman County, increases commercial activity, generates new tax revenue, achieves the City’s goals for development, meets the requirements of applicable State Law, and provides infrastructure for Terrell residents, employees of Terrell based companies, and visitors to the City of Terrell. NOW THEREFORE BE IT RESOLVED BY THE TAX INCREMENT REINVESTMENT ZONE NO. 1 BOARD OF DIRECTORS: Section 1 That the Board recognizes the Park and Downtown Improvement Corporation authorized use of funds as reimbursement to Pina Holdings LLC of a portion of Page 7 of 9 ITEM 6.1. renovation and construction expenses for the Anderson Building not to exceed a total of $400,000. Section 2 That the Board recognizes the Park and Downtown Improvement Corporation recommendation for cancellation of all previously committed funds and Development Agreements between the Park and Downtown Improvement Corporation and Pina Holdings, LLC, for the Anderson Building. Section 3 The Board recommends the Terrell City Council cancel all existing Development Agreements as provided by the passing of Resolution No.2021-1 by the Board and Resolution No.1006 by the City Council based upon past Company and City performance to date for renovation and reuse of the above mentioned property. Section 4 This Resolution shall be effective immediately after its passage. PASSED AND APPROVED by the Board of the Tax Increment Reinvestment Zone #1 on this the _____ day of ____________________, 2024. By: ________________________________ JUAN SALAZAR, CHAIRMAN ATTEST: ________________________________ DAWN STEIL, CITY SECRETARY Page 8 of 9 ITEM 6.1. EXHIBIT “A” – COMPANY PERFORMANCE –  Remove asbestos  Install new windows and complete necessary interior demolition for window installation PADIC FUND FINANCIAL INCENTIVE Anderson Building $400,000 upon completion of company performance and submission of paid receipts to contractors Page 9 of 9