TIF #2 Board of Directors Minutes - 03/03/2006MINUTES
REINVESTMENT ZONE #2
TAX INCREMENT FINANCING COMMITTEE
M I N U T E S
MARCH 3, 2006
Members:
Ben Filer, Chairman
Ann Bishop
Jim Chandler
Al Flack, Jr.
James Welburn
David A. Clark, Director of Community Development
Others Present:
Jim Dockery, Director of Finance
Jim Ginnings, Counselor at Large
Darron Leiker, City Manager
Call to Order
Chairman Filer called the meeting to order at 3:05 p.m.
II. Approval of Minutes
Mr. Flack introduced a motion to approve the minutes from the October 5, 2005
Citizen's Advisory Committee; Mrs. Bishop seconded. The minutes were approved
unanimously.
III. Update on Progress and Financial Structure
Mr. Clark gave an update on the progress of the TIF #2 program. He noted that
construction activity projected in Phase I and II of the Financial Plan for the District
was slightly ahead of schedule, the addition being the construction of the Embers
Shop at McNiel and Regent. The McGrath Creek Shopping Center is now closer to
beginning. Mr. Clark further explained that commencement of the construction of
portions of the proposed public infrastructure was closer and that action would be
requested from City Council on March 7t" to approve details of the financial plan for
such work.
Mr. Dockery explained that, since TIF funds would not be forthcoming until a later
date, initial funding would be sought from 4B sales tax sources and the Stormwater
Drainage fund. More immediate projects would include construction of the extension
of Maplewood westward from Kemp to Lawrence Road and improvements to
TAX INCREMENT FINANCING DISTRICT #2 COMMITTEE March 3, 2006
Lawrence Road to facilitate turning movements. Construction will also begin on the
drainage channel improvement of Quail Creek (McGrath tributary) to lessen the
floodplain and floodway areas. The use of 4A would also enable the movement of
Tesco Park baseball fields to the baseball complex on Sheppard Access Rd., which
would not be an eligible TIF #2 project.
In response to questions, Mr. Leiker provided additional information about the eligible
projects with 4A and 4B sales tax sources.
IV. Adjournment
Mr. Flack motioned to adjourn. Mr. Welburn seconded the motion and the vote was
unanimous. The meeting adjourned at 3:35 p.m.
Ben Filer, Chairman
Date
TAX INCREMENT FINANCING DISTRICT #2 COMMITTEE March 3, 2006