Aug 15, 2022 TIF #2

[00:00:01]

GOOD AFTERNOON, LADIES AND GENTLEMEN.

IN THE SHORT LIVED TRADITION WE HAVE HERE STARTING MEETINGS ON TIME AND KEEPING THEM AS BRIEF AS POSSIBLE.

I'M GOING TO GO AHEAD AND OPEN THIS ONE UP AT 4:30 ON THE SPOT.

[1. Call to Order]

SO WE'LL MOVE ON TO ITEM THREE, WHICH IS TO CONSIDER APPROVAL OF THE MINUTES FROM THE FEBRUARY 9TH, 2021 AND SEPTEMBER 7TH, 2021 T

[3A. Consider approval of the minutes from the July 18, 2022 Economic Development Corporation (Type A) meeting. (Staff Contact: Amanda Campos, City Secretary)]

MEMBERS IF YOU ALL WILL REVIEW THOSE AND HAVE A MOTION FOR ME, WE'LL BE READY FOR IT.

I MOVE TO APPROVE. SECOND.

I HAVE A MOTION BY STANFORD.

A SECOND BY FLETCHER TO APPROVE ALL THOSE IN FAVOR.

AND I SEE ALL THE HANDS UP SO THAT PASSES BY UNANIMOUS VOTE.

NEXT ITEM ON OUR AGENDA TONIGHT IS ITEM 3B TO CONSIDER APPROVAL OF A RESOLUTION ADOPTING THE TAX INCREMENT FINANCE REINVESTMENT ZONE NUMBER TWO FISCAL YEAR

[3B. Consider approval of a resolution adopting the 4A Economic Development Corporation FY2022-2023 annual budget. (Staff Presenter: Martin Avila, Finance Director)]

THIS WILL BE PRESENTED BY NONE OTHER THAN MARTIN AVILA, OUR FINANCE DIRECTOR.

THANK YOU, CHAIRMAN AND COMMITTEE MEMBERS, IN THIS PRESENTATION FOR THE TIF TWO THE OLD TOWN FISCAL YEAR 2023 PROPOSED BUDGET, IT INCLUDES APPROXIMATELY $1,000,000 IN EXPENDITURES FOR THIS UPCOMING YEAR.

WITHIN THERE PERSONNEL COSTS IS ABOUT $322,000.

DEBT SERVICE PAYMENT ABOUT $394,000.

THERE IS ALSO A COMMITMENT FOR THE ELLISON STREET PROJECT, WHICH WILL BE ISSUING POTENTIALLY SOME BONDS THIS EVENING IF IT IS APPROVED. THAT'S ABOUT $3.2 MILLION FOR THAT.

AND AGAIN, THE PROPOSED REVENUES FOR THIS UPCOMING YEARS, $1.1 MILLION.

ANY QUESTIONS? ANY QUESTIONS? KIND OF GIVES YOU A SUMMARY OF OF THE REVENUES RIGHT NOW THE AD VALOREM TAX IS THE MAJORITY OF OF THAT IT IS THE INCREMENTAL VALUE OF THAT TIF ZONE NUMBER TWO, IT'S A PROPOSED BUDGET TO BRING IN ABOUT $1.1 MILLION IN AD VALOREM REVENUES.

AND AGAIN, YOU DO HAVE YOUR YOUR EXPENDITURES BROKEN OUT A LITTLE BIT MORE DETAIL.

YOU GOT YOUR PERSONNEL COST.

YOU GOT YOUR MAINTENANCE AND REPAIRS.

YOU GOT YOUR TRANSFER OUT, WHICH IS YOUR DEBT SERVICE PAYMENT.

AND THEN AGAIN, YOU HAVE SOME OPERATIONAL EXPENDITURES THERE FOR ABOUT $160,000 THAT WE CLASSIFY AS MISCELLANEOUS THERE AS WELL.

THE TOTAL BUDGET IS $1 MILLION.

AGAIN, IT'S A CHANGE IN THE FUND BALANCE FROM THE REVENUES TO THE EXPENDITURES OF ABOUT $95,000 IN THE ENDING FUND BALANCE WOULD BE $903,000. THAT IS THE PROPOSED BUDGET, IF YOU ALL HAVE ANY QUESTIONS IN REGARDS TO THAT.

NEXT STEPS.

SEPTEMBER 6TH WILL BE THE REGULAR CITY COUNCIL MEETING IN WHICH THE PUBLIC HEARING AND THE BUDGET AND TAX RATE WILL BE HELD.

AND THE FIRST READING OF THE BUDGET AND THE TAX RATE ORDINANCE, FOLLOWED BY SEPTEMBER 12TH ON A SPECIAL CITY COUNCIL MEETING.

THE FINAL READING OF THE ORDINANCE TO APPROVE THE BUDGET AND THE TAX RATE.

THOSE ARE THE NEXT TWO MEETINGS THAT WILL CURRENTLY BEING ANTICIPATED.

AND THAT IS THAT IS MY PRESENTATION IN REGARDS TO THE TIF TWO PROPOSE BUDGET.

THANK YOU, SIR. MEMBERS ANY QUESTIONS FOR MR. AVILA? OK. I SEE NO QUESTIONS.

I HAVE NONE MYSELF.

I'LL TAKE A MOTION ON THE BUDGET ON ITEM 3B.

I MAKE A MOTION TO APPROVE.

SECOND.

WE HAVE A MOTION BY MAYOR FLETCHER AND SECOND BY MR. STANFORD. ALL THOSE IN FAVOR.

I SEE ALL THE HANDS UP, NONE UNOPPOSED.

SO THAT MOTION PASSES BY UNANIMOUS VOTE.

NEXT ITEM ON OUR AGENDA IS TO RECOGNIZE IF THE BOARD HAS ANY REQUEST FOR FUTURE AGENDA ITEMS OR REPORTS THAT THEY'D LIKE TO HEAR AT THE NEXT MEETING.

I SEE NONE.

AND HAVE WE A NEED FOR EXECUTIVE SESSION? WE DO NOT. THEREFORE, WE WILL ADJOURN THE MEETING AT 4:35.

THANK YOU.

* This transcript was compiled from uncorrected Closed Captioning.