* This transcript was created by voice-to-text technology. The transcript has not been edited for errors or omissions, it is for reference only and is not the official minutes of the meeting. [00:00:01] ALL [I.  Call Meeting to Order] RIGHT. GOOD EVENING EVERYONE. THE TIME IS 5:35 PM I'M GONNA, UH, IT IS TUESDAY, JUNE THE 20TH, AND I'M GONNA CALL THIS TOURS NUMBER FOUR BOARD MEETING. TO ORDER WITH THE CITY SECRETARY. PLEASE CALL THE ROLL MITCHELL. HERE. TOBIAS. PRESENT HE HERE. FLORES KALE? HERE. ZUNIGA BRADSHAW HERE. PARSLEY HERE. ALL RIGHT. SIX MEMBERS PRESENT. WE HAVE A QUORUM. UH, NEXT UP CITIZEN COMMENTS, PERIOD. IS THERE ANYONE WHO WISHES TO COME FORWARD AND SPEAK? SEEING NONE. I'M GONNA CLOSE CITIZEN COMMENTS. PERIOD. UH, AT THE [2.   Pursuant to Chapter 551, Texas Government Code, the TIRZ #4 Board reserves the right to convene into Executive Session(s) from time to time as deemed necessary during this meeting. The TIRZ #4 Board may convene into Executive Session pursuant to any lawful exception contained in Chapter 551 of the Texas Government Code including any or all of the following topics. Pending or contemplated litigation or to seek the advice of the City Attorney and Attorneys concerning legal issues pursuant to Section 551.071, Texas Government Code, and Section 1.05, Texas Disciplinary Rules of Professional Conduct. Possible purchase, exchange, lease, or value of real estate pursuant to Section 551.072. Personnel matters pursuant to Section 551.074. Convene into executive session pursuant to Section 551.087, Texas Government Code, to deliberate regarding the offer of economic incentives to one or more business prospects that the City seeks to have locate, stay, or expand in or near the City ] REQUEST OF THE, UH, OUR ATTORNEYS, I'M GONNA ASK THAT WE GO INTO EXECUTIVE SESSION. SO, UH, ON AGENDA ITEM NUMBER ONE. SO PURSUANT TO CHAPTER 5 51, TEXAS GOVERNMENT CODE TERRA NUMBER FOUR, BUR BOARD RESERVES THE RIGHT TO CONVENE INTO EXECUTIVE SESSION FROM TIME TO TIME AS DEEMED NARY DURING THIS MEETING. TERRA NUMBER FOUR BOARD MAY CONVENE INTO EXECUTIVE SESSION PURSUANT TO ANY LAWFUL EXCEPTION CONTAINED IN CHAPTER 5 51 OF THE TEXAS GOVERNMENT CODE, INCLUDING ANY OR ALL OF THE FOLLOWING TOPICS. UH, AGENDA ITEM NUMBER ONE, A RESOLUTION OF THE BOARD OF DIRECTORS REINVESTMENT ZONE NUMBER FOUR, CITY OF KYLE, TEXAS, ADOPTING THE FINAL PROJECT AND FINANCING PLAN FOR THE ZONE APPROVING AND AUTHORIZING THE CHAIRMAN TO EXECUTE, UH, TOURS AGREEMENT IN CONNECTION WITH THE DEVELOPMENT OF HIS OWN, AND RECOMMENDING APPROVAL OF THE FINAL PLAN AND TERMS AGREEMENT TO THE CITY COUNCIL OF THE CITY OF KYLE, TEXAS. MAYOR, MAYOR. WILL NOTE THAT WE'RE GOING IN UNDER THE ATTORNEY CLIENT PRIVILEGE. UH, I'D LIKE TO NOTE THAT ON THIS ITEM WE'RE GOING IN UNDER ATTORNEY CLIENT PRIVILEGE. THANK YOU. ALL RIGHT, I'M GONNA CALL THIS MEETING BACK TO ORDER. UH, THE TIME IS 5:58 PM THERE WAS NO ACTION TAKEN DURING EXECUTIVE SESSION. THERE'LL BE NO ACTION TAKEN. NOW I'M GONNA [1.  A Resolution of the Board of Directors Reinvestment Zone Number Four, City Of Kyle, Texas Adopting the Final Project and Financing Plan for the Zone; Approving and Authorizing the Chairman to Execute a TIRZ Agreement in Connection With the Development of the Zone; and Recommending Approval of the Final Plan and TIRZ Agreement to the City Council of the City Of Kyle, Texas. - Stephanie Leibe, Norton Rose Fulbright, City's Bond Counsel] RE-BRING UP AGENDA ITEM NUMBER ONE, A RESOLUTION OF THE BOARD OF DIRECTORS REINVESTMENT ZONE NUMBER FOUR, CITY OF CAL, TEXAS, ADOPTING THE FINAL PROJECT AND FINANCING PLAN FOR THE ZONE APPROVING AND AUTHORIZING THE CHAIRMAN TO EXECUTE A T AGREEMENT IN CONNECTION WITH THE DEVELOPMENT OF HIS ZONE AND RECOMMENDING APPROVAL OF THE FINAL PLAN ANDT AGREEMENT TO THE CITY COUNCIL OF THE CITY OF KYLE, TEXAS. MS. LABEY, GOOD AFTERNOON CHAIR BOARD MEMBERS. UH, MY NAME IS STEPHANIE LIVEY NORTON ROSE FULBRIGHT. WE SERVE AS BOND COUNSEL TO THE CITY. WHAT YOU HAVE BEFORE YOU THIS AFTERNOON IS A RESOLUTION WHICH WOULD BOTH APPROVE A TOURIST PROJECT AND FINANCE PLAN AND A REIMBURSEMENT AGREEMENT PRIMARILY RELATED TO THE LIMESTONE CREEK DEVELOPMENT. IF YOU ALL RECALL, A PRELIMINARY PROJECT AND FINANCE PLAN WAS PRESENTED TO BOTH BOARD AND COUNCIL IN MARCH OF THIS YEAR AND WAS ADOPTED. UH, PROJECT AND FINANCE PLAN PLAYS OUT PROPOSED PROJECTS, OR I SHOULD SAY THE AUTHORIZED PROJECTS THAT COULD BE UNDERTAKEN WITHIN THE ZONE. UM, AND THEN IT ALSO OUTLINES THE WATERFALL OF FUNDS OR PRIORITY THROUGH WHICH THOSE TAX INCREMENT FUNDS CAN AND WILL BE USED. SO IF YOU RECALL, THE TOURIST WAS INITIALLY CREATED WITH WHAT HAS BEEN CALLED THE RESIDENTIAL COMPONENT AND A COMMERCIAL COMPONENT. AND SO TAX INCREMENTS CREATED WITHIN THE ZONE HAVE ALSO BEEN CLASSIFIED TO RETAIN THOSE CLASSIFICATIONS. SO AS IT RELATES TO RESIDENTIAL TAX INCREMENTS, RESIDENTIAL TAX INCREMENTS ARE USED FIRST TO OFFSET PIT ASSESSMENTS FOR THE LIMESTONE CREEK PIT. UH, SECOND, THEY ARE BEING USED TO REIMBURSE DEVELOPER FOR CONSTRUCTION COSTS AND LAND ACQUISITION COSTS ASSOCIATED WITH THE CONSTRUCTION OF GOFORTH ROAD. NEXT, THEY WOULD BE AVAILABLE TO THE DEVELOPER TO REIMBURSE ANY RESIDENTIAL PROJECT COSTS THAT REMAIN UNREIMBURSED THROUGH EITHER THE PIT OR THE TOUR. AND THEN THEY BECOME AVAILABLE FOR ANY CITY INITIATED PROJECTS WITHIN THE TOUR, SHOULD THE CITY DECIDE TO UNDERTAKE SOME AS IT RELATES TO THE COMMERCIAL INCREMENT COMMERCIAL INCREMENTS AT THIS TIME, OR BEING RESTRICTED TO ANY CITY INITIATED PROJECTS FOR ROADWAY OR, UH, DRAINAGE CONSTRUCTION, UH, WHICH BENEFIT THE CHAIRS. SO I KNOW THAT'S A VERY HIGH LEVEL OVERVIEW. IF YOU ALL HAVE ANY SPECIFIC QUESTIONS ABOUT THE PLAN, UH, OR THE REIMBURSEMENT AGREEMENT, I'M HAPPY TO ANSWER THOSE. THANK YOU. I'D LIKE TO MAKE A MOTION TO APPROVE. SECOND. ALL RIGHT. MOTION BY THE MAYOR. SECONDED BY COUNCIL MEMBER ZUNIGA. IS THERE DISCUSSION ON THE MOTION? COUNCIL MEMBER FLORES KE. THANK YOU. UM, TO MY KNOWLEDGE, THE, UH, DRAINAGE ISSUE HAS NOT BEEN FIXED YET, AND I'VE, I'VE, I'VE PRESSED FOR THIS TO, UM, FOR THE DEVELOPER AND THE LANDOWNER TO SIT AND HAVE A CONVERSATION AND HOPEFULLY FIND SOME KIND OF SOLUTION. AND, UM, UNTIL THAT CAN BE DONE, I CANNOT SUPPORT THIS TS. ALL RIGHT. ANYONE ELSE? ROLL CALL. VOTE WHAT? I'M SORRY. COUNCIL MEMBER PARSLEY, I, I BELIEVE THAT PART OF WHAT WE DISCUSSED IS THAT THIS APPROVAL WILL HELP WITH THE DRAINAGE ISSUES FOR THEM TO BE ADDRESSED AND FUNDED. CORRECT. SO I THINK AS IT RELATES [00:05:01] TO THE DRAINAGE ISSUE, RIGHT, IT'S A, IT'S A MULTI-PRONGED ISSUE THAT HAS BEEN AROUND WITH THIS DEVELOPMENT AND WHAT'S BEEN PRESENTED BY THE DEVELOPER AND BY THE ENGINEERS TO CITY AND TO CITY STAFF IS THAT THIS DRAINAGE ISSUE IS AN ISSUE IRRESPECTIVE OF THE PID TOURIST FINANCING. OKAY. AND MERITS HAS REPRESENTED THAT THE PID TOURIST FINANCING ACTUALLY, UM, IT DOESN'T COMPLETELY SOLVE, BUT IT HELPS ALLEVIATE A LARGE PORTION OF THE DRAINAGE ISSUE, BUT IT DOESN'T SOLVE IT IN ITS ENTIRETY. AND SO THE DISCUSSIONS THAT ARE GOING ON BETWEEN THE VARIOUS HOME BUILDERS AND THE CURRENT LANDOWNER AND THE WATER DISTRICT AND THE AREA PERTAIN TO THOSE COMPONENTS OF THE DRAINAGE THAT CANNOT BE SOLVED THROUGH THE PI T. SO I JUST WANNA MAKE SURE THAT WE SAY, SO THE APPROVAL OF THE FINANCIAL PART FOR THIS BID T DOES NOT HAVE TO DO WITH THE DRAINAGE, CURRENT DRAINAGE ISSUES THAT ARE HAPPENING, CORRECT? IT DOES NOT. OKAY. THAT'S ALL I NEEDED TO KNOW. OKAY. ANY OTHER COMMENTS, QUESTIONS? ROLL CALL, VOTE MITCHELL? YES. BRADSHAW. AYE. TOBIAS? AYE. ZUNIGA AYE. PARSLEY. AYE. HEISER? YES. FLORES KALE? NAY. ALL RIGHT. MOTION CARRIES SIX TO ONE. MOTION TO ADJOURN? SECOND. ALL RIGHT. WE ARE ADJOURNED. * This transcript was created by voice-to-text technology. The transcript has not been edited for errors or omissions, it is for reference only and is not the official minutes of the meeting.