TIF #4 Board of Directors Minutes - 11/24/2020 TAX INCREMENT FINANCING #4 (TIF) BOARD
MINUTES
November 24, 2020
Members:
John Dickinson *Member
Tony Fidelie •Member
Ben `Chip' Filer •Chairperson
Andy Lee *Member
Jeff Watts, Wichita County Commissioner *Member
Co. DeAndra Chenault, District#2 *Council liaison
Staff:
Kinley Hegglund, City Attorney *Staff
Terry Floyd, Director Development Services •
Karen Montgomery-Gagne, Planning Administrator •
Christal Ashcraft, Development Services Assistant •
Absent:
Cynthia Laney •Member
Jeff Marion *Member
I. Call to Order & Introductions
Chairperson Filer called the TIF #4 Board meeting to order at 3:04 pm. Mr. Filer introduced
members and staff. Guest, Jana Schmader, Director, Downtown Wichita Falls Development was
also present.
II. Review & Approval of Minutes from January 31, 2019
Councilor Deandra Chenault made a motion to adopt the January 31, 2019 minutes. Mr. John
Dickinson seconded the motion. The motion was passed unanimously.
III. Action Item: Proposal to Allocate TIF#4 Increment to Assist in the Creation and
Development of an Indiana Avenue National Register Historic District and
Historic Resources Survey
Ms. Gagne introduced the case and then turned the floor over to Jana Schmader, Downtown Wichita
Falls Development Director. Ms. Schmader thanked the board for attending the meeting for their
interest in creation and development of the Indiana Historic District. Ms. Schmader stated the
proposal was seeking funding assistance from the TIF #4 Board for the creation of a new historic
district in the core of downtown. The district will be bordered to the north by 9th Street, 10th Street to
the south, the Ohio/LaSalle alley to the east and the alley between Indiana Avenue and Scott
Avenue to the west. The proposed area is in both the Central Business District, as well as the TIF #4
District. The area consists of 13 separate buildings, 2 vacant parking lots and one City of Wichita
Falls public park, Bud Daniels Park. The 2019 property assessed value of the proposed district was
$1,673,931.00.
Ms. Schmader advised the Board of many benefits of creating the proposed district, one being
eligibility for federal historic tax credits and also state historic tax credits, which will allow for
improved redevelopment opportunities. Another benefit discussed was historical tourism as well as
an increase for new potential investments drawing new businesses to the area. Downtown Wichita
TIF #4 Board November 24, 2020 Page 12
Falls Development, Inc. is requesting $10,000.00 from the TIF #4 Zone and has a pending match
with the Bryant Edwards Foundation of $10,000.00. Projected expenses include a bid of $18,500.00
from consultants, Post Oak Preservation Solutions in Austin, Texas to include historical surveys,
photos, building history and other documents. A projected amount of $1,500.00 for administrative
coordination with Post Oak, City of Wichita Falls CLG representative and assistance with historical
documents and foundation application/coordination.
Ms. Schmader gave a brief overview of Post Oak Preservation Solutions and their role in the project.
She also gave an update on future projects in the Indiana Historic District, if it is approved. A retail
mixed use/destination restaurant is projected at $2.4 million for 1000 Indiana and the adjacent Filgo
Building projected at $500,000.00. Another property, 925 Indiana, Wichita Theater for a new HVAC
and sprinkler system is projected to spend $350,000.00 and the last example given was at 927
Indiana for mixed use/retail — restaurant, AirBnB units and downtown work/live apartments estimated
at $1.5 million for a total of$4,700,000.00.
Chairman Filer asked if there were any questions for Ms. Schmader. No questions presented. Staff
commented that after reviewing the proposal, along with additional information and research, they
recommended the Board consider approval. Ms. Gagne indicated the project had numerous merits
and if the Board recommended allocation of the requested $10,000.00 it would only be
approximately 4.4% of the current increment balance of $226,713.77 and be a private project with a
public benefit.
Ms. Gagne advised the Board the initial idea of considering the merits of enhancing downtown
through special purpose areas such as historic districts have continued to gain momentum since
2008 when noted in the Vision 20/20 Plan. Recently the idea of expanding the Depot Square
District/creating a new historic district, were recommended by the Historic Preservation
Subcommittee during the Downtown Strategic Plan initiative. Ms. Gagne briefly recapped the
estimated costs Ms. Schmader outlined to the Board. The basis for recommendation from staff was
extensive, listing some of the key items as, economic development, preservation and the reduction
in dilapidated structures. The proposal overall will have a positive impact on future business
development downtown.
Chairman Filer asked if there were any questions from the Board for Ms. Gagne and complimented
both Ms. Schmader and Ms. Gagne on the presentation and work put forth. He stated it was a very
good investment with a good return, one of the best ones brought before the Board. Commissioner
Jeff Watts made a motion to approve the proposal and Mr. Tony Fidelie seconded. The motion was
unanimously approved. Ms. Gagne advised the two members absent wanted to make it known to the
Board that the proposal also had their full support.
IV. Other Business:
a) Roster—2020 Updates
b) Next Meeting Date
To Be Determined
Mr. John Dickinson made a motion to adjourn, Commissioner Watts seconded. Meeting adjourned at
3:17pm.
M Ben Filer Date
Chairperso