TIF #1 Board of Directors Minutes - 11/06/2002 Tax Increment Financing Board
MINUTES
November 6, 2002
Members:
RECEIVED IN __ .-
Ben Filer, Chairman CITY CLERK'S OFFICE • Members
Al Flack Date - - —2—
'
David White •
Debbie White -� Time• 1' •
James Welburn ♦
Bill Altman, Mayor
David A. Clark, Director of Community Development • Staff
Kate Teichman, YMCA • Applicant
I. Minutes
Mrs. White moved to accept the minutes from May 29, 2002. This motion was seconded by
Mr. Welburn. After discussion about the wording regarding potential bond development, the
minutes were approved as submitted.
II. Financial Status
Mr. Clark explained the financial status report that had been developed on Oct. 21, 2002. He
noted that, if an additional $200,000 were now designated for the Holt, there would be a
negative balance. Approximately $180,000 is, however, anticipated as TIF income in the
spring. This will cover other commitments (coliseum) and provide fund availability at that time.
At the request of the Board, Mr. Clark gave a detailed report on the status of the Holt adaptive
reuse project. Mr. White cautioned that the architects under contract for design of the project
billing should be encouraged to submit monthly bills.
III. North Texas Visions of Wichita Falls Progress Report
The Board briefly reviewed the information provided from the Visions organization, which
included financial information, incoming board leadership and activities.
IV. Request for Funding, Downtown YMCA
Mr. Clark explained a staff report that discouraged award of TIF funds to projects which will not
be taxable (with the exception of those specifically mentioned in the Project Plan). He noted
that he had expressed this to Dr. Robert Allen of the First United Methodist Church, who had
previously submitted an application, and to Ms. Teichman. He had told Ms. Teichman,
however, that she still had a right to present to the Board, if she chose to do so.
Ms. Teichman presented a photographic display and explained the YMCA request for funding
in the amount of $70,259.00 for the development of a parking lot at Austin and Ninth Streets.
TAX INCREMENT FINANCING BOARD NOVEMBER 6,2002 PAGE 1 OF 2
Mr. Flack reiterated concern about funding projects for properties which may not be taxable. In
response to a question from Mr. White about other YMCA property, Ms. Teichman explained
the possible development of a skate park. After additional discussion, Mr. Filer made a motion
to recommend denial of funding for this request. The motion was seconded by Mrs. White and
passed unanimously. Mr. Clark explained that when a recommendation for denial is
completed, he would not present further action to the City Council, unless specifically
requested by the applicant.
V. Request for Expansion of the TIF Zone
Mr. Clark explained the staff report and noted that he had spoken to the County (Judge Woody
Gossom) and WFISD (Ken Parker-CFOO). Judge Gossom had responded that if the
expansion were good for economic development purposes, the County would likely not have a
concern. Mr. Flack, as representative to the Board from WFISD, indicated the same feeling
from the school district, assuming that there would be no reduction of the tax currently received
from the expansion area.
There was discussion about why the original boundary had seemed so exclusive. Mr. Filer
offered that, after reading older documents, it may have been related to the percentages of
commercial and residential property, which was dictated at that time. Discussion also took
place about the timing of the current termination date of the TIF program and its relationship to
potential development of new funds from an expanded area. The board expressed a
reluctance to put more pressure on existing funds, but noted that expansion could still occur if
there were a defined need.
Mr. Flack moved to decline the request to expand the TIF boundard to include the area from
7th to 11th and from Indiana to the Travis Street alley. The motion was seconded by Mr.
Welburn and passed unanimously.
VI. Other Business
Mr. Clark noted the success of the Travis Crossing Apartments, which had been provided with
TIF funds.
VII. Adjournment
The Board adjourned at 4:35 p.m.
BEN FILER, CHAIRMAN DATE
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