TIF/TIRZ considers 2017, 2018 annual reports
During its regular Apr. 01, 2019 meeting, the Forney TIF/TIRZ Board met to hear Open Meetings primer, approve 2017 and 2018 annual reports, get activity report:
- Receive presentation/training on the TIRZ and the roles and responsibilities of the board of directors, public information act, and public records act.
Mr. Hawes said City Secretary would do more detailed training on Open Records Act, then briefed the board stating they are not public officials, but must adhere to same criteria, especially paying to attention avoiding walking quorums. He knows people going to jail for that. The public comment period is not the time to argue with the public.
This TIRZ is for 30 years, created 10 years ago. He pointed out this is a reimbursement TIRZ, and said to be very clear: "the city itself is not responsible for paying the TIRZ developer back with any monies except that which comes from the TIRZ, so there is no liability to the general fund whatsoever." The purpose of the zone is to finance public improvements. There were some plans not originally done, it was done last year, no harm caused. At the end of 30 years, whether developer is paid back or not, all revenue then goes to city. Originally city participation was 100%, just changed to 85%, which will effectively change their 12% rate to 5%. The TIRZ was a good idea to get the bridge built, cheaper that it would be 10 years later. The original agreement would have benefited from a better analysis. Mr. Ketteman said there are 800 acres on S. side of 80 for commercial, 400 acres on N. side, so 1200 of the 2000+ acres could be commercial. He said this TIF is a little different, usually the city would issue debt, but on this Mr. Hunt and Gateway are the ones being paid back. Mr. Hawes said Kyle TX was an anomaly, shouldn't issue debt. He discussed options for cities to issue bond debt for TIRZs. This should be considered a capital projects entity. The TIRZ can end early if all payments made, or it may be extended. The city gets $4 million from zone first, then the developer gets paid. The sales tax in the area is not included, the 380 agreement has expired; City Manager is negotiating about interest rate, property area.
- Approved State Annual Reports on TIRZ for 2017 and 2018 individually.
Mr. Phillips said it looks good, and he turned this over to County Auditor to look at.
- Mr. Ketteman said they had groundbreaking for Goodyear, Gateway Parks homes being built and amenity center is up. On N. Side, three apartments are completed, 4th starting. An Arizona developer, NexMetro homes, is interested in building SF quadplex full maintenance products. Forney is one of 4 locations being considered by Project Falcon 1.5 million sq. ft. with 800 jobs. Have been contacted by developers to provide spec. (industrial) buildings, 200k-500k sq. ft. Forney has a lot of (internet) fiber available, along the railroad, could support a data center. Working on dual-feed electric. Mr. Hawes said the TIRZ is about real property value, taxes on equipment etc. all goes to the city.
- Adjourned at 1925.
Monday, 2019, April 1