TIF #1 Board of Directors Minutes - 06/03/1999 Tax Increment Financing Board
MINUTES
June 3, 1999
Members:
Ben Filer,Chairman
Ruth Terry
James Welbum
Debbie White
Staff:
David A. Clark, Director of Community Development
Guests:
Randle Forcher
Jim Pettyjohn
1. Introduction
Mr. Filer noted that a quorum was present.
II. Financial Accounting
Mr. Clark presented a brief background on Tax Increment projects and noted that the
account has a balance of$393,185.52.
III. Request for Funding Assistance
Richmond Condominiums
1000 Tenth Street
An application for Tax Increment Financing (TIF) assistance was presented for the
Richmond Condominiums, 1000 Tenth St. The request was for $17,048.28, with an
expected private investment of $1,100,000. Mr. Clark gave an explanation of the
application and Mr. Forcher was given an opportunity to provide any additional
information. Mr. Forcher noted that prices provided in his application were the lowest
of three (informal) bids received for each aspect the proposed work.
The recommendation was made that a decorative iron fence be installed around the
parking areas, rather than chain link. (Brick fencing will be installed along Ninth Street.)
The iron fencing would impose an additional cost of$2,400 ($2,377).
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Discussion also ensued about operable gates, their maintenance, and the
appropriateness of the cost of openers. A tentative conclusion was made that security
and public safety issues supported their inclusion.
Mrs. Terry made the motion, seconded by Mrs. White, to recommend approval of TIF
funding to the City Council. The amount not to exceed $20,848.00 is recommended,
based on the submitted cost of $17,048 and to include $2,400 additional for iron
fencing, and $1,400 additional for the openers. The project is to include landscaping,
irrigation, brick and iron fencing, and operable gates in accordance with the project
submission. The project is to be completed within six months. The motion carried
unanimously.
IV. Request for Funding Assistance
Wichita Falls Railroad Museum
Vicinity of Ninth Street and Railroad
An application was presented for TIF assistance in an amount not to exceed $15,000,
by the Wichita Falls Railroad Museum. Mr, Clark gave a brief review, with a positive
recommendation from the staff. Mr. Pettyjohn represented the Museum and answered
additional questions. The Museum is proposing to install iron gates at the eastern end
of Ninth St. which were originally a part of the old post office/police station at the corner
of Ohio and Ninth. These gates would provide an additional entrance and an
architectural enhancement to the recently expanded campus of the Railroad Museum.
The additional area will be utilized to display acquisitions to the collection of the
Museum, which will include historic trucks, a 1920's trolley, farm vehicles and
equipment, and other pieces. Their value and the value of their restoration is seen as
the Museum side of the project development.
Mrs. White made a motion, seconded by Mr. Welburn, to recommend TIF assistance in
an amount not to exceed $15,000. The project is to consist of the installation of the
gates and funding authorization is to be available for a period of up to six months after
the final award. The motion passed unanimously.
V. Adjournment
After discussion about prospects for future TIF assistance, the meeting adjourned at
approximately 2:30 p.m.
en Her, airman
RECEIVED IN
CITY CLERK'S OFFICE
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