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UM, UH, GOOD AFTERNOON EVERYONE.[I) Call Meeting to Order and Roll Call]
IT'S TUESDAY, NOVEMBER 19TH, AND I'M GONNA CALL THIS TURS NUMBER FOUR BOARD MEETING.TO, UH, ORDER WITH THE CITY SECRETARY.
PLEASE CALL THE ROLL MITCHELL.
WE HAVE, UM, YOU WANT ME TO CALL FOR THE ITEM SIX.
[II) Approval of Minutes]
OF THE MINUTES.I'D LIKE TO GO AHEAD AND CONSIDER TO MAKE THE APPROVAL FOR THE MINUTES FOR TERMS MEETING FROM JUNE 20TH, 2023.
IS THAT THE ONE WE'RE ON SECOND.
MOTION BY COUNCIL MEMBER TOBI.
SECONDED BY COUNCIL MEMBER HEISER.
WE APPROVE THE MINUTES SINCE THEIR DISCUSSION.
IS THERE ANYONE WHO WISHES TO COME FORWARD AND SPEAK? SEEING NONE, CITIZEN COMMENTS IS NOW CLOSED.
[2) Consider approval of a resolution of the Board of Directors for the Tax Increment and Reinvestment Zone Number Four, City of Kyle, Texas adopting the Amended and Restated Project and Finance Plan for the Zone and recommending approval of the Amended and Restated Project and Finance Plan to the City Council of the City of Kyle, Texas.]
AGENDA ITEM NUMBER TWO.CONSIDER APPROVAL OF A RESOLUTION OF THE BOARD OF DIRECTORS FOR THE TAX INCREMENT AND REINVESTMENT ZONE.
NUMBER FOUR, CITY OF KYLE, TEXAS, ADOPTING THE AMENDED AND RESTATED PROJECT AND FINANCE PLAN FOR THE ZONE AND RECOMMENDING APPROVAL OF THE AMENDED AND RESTATED PROJECT AND FINANCE PLAN TO THE CITY COUNCIL OF THE CITY OF KYLE, TEXAS.
UM, MAYOR, CITY COUNCIL MEMBERS TOURS, BOARD MEMBERS, UH, STEPHANIE LEVY WITH NORTON ROSE FULBRIGHT.
OUR FIRM SERVES AS BOND COUNCIL FOR THE CITY OF KYLE.
UM, IF Y'ALL CALL, TOURISM NUMBER FOUR WAS CREATED IN CONNECT IN CONJUNCTION WITH THE DEVELOPMENT OF LIMESTONE CREEK.
UM, SINCE THAT TIME, BOTH THE CITY AND COUNTY HAVE ENTERED INTO DISCUSSIONS AND NEGOTIATIONS RELATED TO EXPANSION OF THE BOUNDARIES OF S FOUR IN ORDER TO SUPPORT SOME REGIONAL PROJECTS.
SO WE'VE BEEN TO CITY COUNCIL, HAD A PUBLIC HEARING RELATED TO THIS PROJECT AND FINANCE PLAN.
WE'VE ALSO GONE TO THE COUNTY AND THE COUNTY HAS SIGNED OFF ON THE PROJECT AND FINANCE PLAN AND AUTHORIZED THEIR ILA.
WE ARE HERE TODAY TO PRESENT THE PLAN TO THE TOURIST BOARD, HAVE YOU ALL ADOPT A RESOLUTION THAT SIGNIFIES YOUR CONCURRENCE WITH THE PLAN AND THEN RECOMMEND APPROVAL OF THAT PLAN TO CITY COUNCIL.
AFTER CITY COUNCIL APPROVES THE PLAN AND AUTHORIZES THE ILA, THE TOUR ZONE WILL BE EXPANDED UPON EXPANSION.
THE COUNTY WILL HAVE THE ABILITY TO 0.2 REPRESENTATIVES TO THE TOURIST BOARD.
SO THE NEXT TIME THIS TOURIST BOARD MEETS THE COMPOSITION OF THE BOARD, WOOD BAY CITY COUNCIL MEMBERS, PLUS THE TWO COUNTY REPRESENTATIVES.
SO OUR INTENT IS TO HAVE THE BOARD APPROVE THE PLAN TONIGHT, TODAY, HAVE CITY COUNCIL APPROVE THE PLAN TONIGHT, THEN WE'LL COME BACK TO THIS BOARD ONCE THE COUNTY REPRESENTATIVES ARE ON THE BOARD, HAVE THE BOARD REAPPROVE THE PLAN WITH THOSE COUNTY REPRESENTATIVES AS A PART OF THE BOARD SO THAT COUNTY FUNDS WOULD BE AUTHORIZED FOR THE REGIONAL IMPROVEMENTS.
AND JUST AS A REMINDER, UM, RIGHT NOW THE TOURIST PLAN IS DRAFTED SO THAT, UH, EXPANSION OF GO FORTH ROAD AND THEN A COMBINED CITY COUNTY ADMINISTRATIVE COMMUNITY TYPE FACILITY COULD BE FINANCED AS REGIONAL, UH, IMPROVEMENTS WITH TOURS, REVENUES THAT THE CITY AND COUNTY ARE CONTRIBUTING TO THE ZONE AS EXPANDED.
SO THE NEXT SLIDE JUST SHOWS ESTIMATES RELATED TO PROJECTED COSTS FOR THOSE REGIONAL IMPROVEMENTS, TIMELINE FOR WHEN COSTS COULD BE INCURRED.
UM, AND THEN WE HAVE JUST A SLIDE THAT SHOWS ESTIMATED AMOUNT OF CITY AND COUNTY INCREMENT THAT WOULD BE CONTRIBUTED, UM, TO THE ZONE.
SO GO FORTH ROAD IS ALSO IN INCLUDED IN THE COUNTY'S ROAD BOND, UM, THE ROAD BOND ELECTION, WHICH WHICH WAS RECENTLY APPROVED BY THEIR VOTERS.
AND SO AS IT RELATES TO USE OF TOURIST FOR REVENUES, THOSE REVENUES COULD BE USED IF GO FORTH ROAD, UM, IS FINANCED BY A DEVELOPER.
WE COULD HAVE A TOUR REIMBURSEMENT AGREEMENT SO THAT TOUR REVENUES ARE USED TO REIMBURSE THE DEVELOPER.
IF THE COUNTY ISSUES BONDS TO CONSTRUCT ALL A PORTION OF GO FORTH ROAD AS AUTHORIZED BY THEIR RECENT COUNTY BOND ELECTION, THEN IT'S POSSIBLE FOR THE CITY AND COUNTY TO ENTER INTO AN INTERLOCAL AGREEMENT SO THAT THE CHURCH'S
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REVENUES COULD BE REBATED BACK TO THE COUNTY TO HELP OFFSET ALL OUR PROPORT OF THE BONDS THAT THEY WOULD ISSUE FOR THE ROAD.SO THERE ARE A COUPLE DIFFERENT FINANCING PATHS FORWARD ASSOCIATED WITH A FOURTH ROAD THAT WILL MONITOR IN REAL TIME AS DEVELOPMENT PROJECTS COME, UM, UP TO CITY STAFF FOR REVIEW AND DISCUSSION.
AND THEN AS THE COUNTY STARTS TO PUT THEIR ROAD BOND PROGRAM TOGETHER.
SO, HAPPY TO ANSWER ANY QUESTIONS THAT YOU ALL HAVE ABOUT THE ZONE AS EXPANDED, UM, PROPOSED PROJECTS OR ANYTHING ELSE RELATED TO, UH, THE EXPANSION OF TOURIST FOUR AND THE INCLUSION OF THESE PROJECTS.
DOES ANYBODY HAVE ANY QUESTIONS OR COMMENTS? MOTIONS MOVE APPROVAL, EXCUSE ME.
MOVE APPROVAL OF THE EXPANSION OF JUROR FOUR AS AS LISTED SECOND.
NOW THAT WE APPROVE THE RESOLUTION FOR THE BOARD, UM, AND THE PRO, UM, AGENDA ITEM NUMBER TWO, IS THERE DISCUSSION ON THE MOTION? ALL IN FAVOR SAY AYE.
ALL OPPOSED? ALRIGHT, MOTION CARRIES SIX TO ZERO.