Aug 18, 2025 TIF #2

AUGUST 18TH MEETING OF THE TIF #2 BOARD. FIRST ITEM ON OUR AGENDA IS, OH, BY THE WAY, WE HAVE A QUORUM HERE PRESENT.

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JUST A SECOND I BET SHE'S JUST RIGHT OUTSIDE.

MY APOLOGIES I DID NOT DO A HEAD COUNT [LAUGHTER].

ALL RIGHT SO NOW WE HAVE A QUORUM PRESENT [LAUGHTER]. APOLOGIES.

THIS IS AN OPPORTUNITY FOR PERSONS WHO ARE IN THE ROOM TO SPEAK TO THE BOARD ON AN ITEM THAT'S NOT ON OUR AGENDA.

DO WE HAVE ANY SUCH REQUESTS? I SEE NONE, SO WE WILL MOVE ON TO ITEM 3.A, WHICH IS TO CONSIDER AND TAKE POSSIBLE ACTION ON THE MINUTES FROM THE

[3.A.Consider and take possible action on the minutes from the September 23, 2024 Tax Increment Finance Reinvestment Zone #2 (TIF #2) Board meeting. (Staff Contact: Monica Solko, Deputy City Secretary)]

MEMBERS THE MINUTES ARE IN FRONT OF YOU. IF YOU'VE HAD A CHANCE TO LOOK AT THEM, I'LL TAKE A MOTION.

I'LL MOVE TO APPROVE. SECOND I HAVE A MOTION BY CHRIS SECOND BY KENNY TO APPROVE ALL THOSE IN FAVOR? YOU ALMOST GOT COUNTED AS A NEGATIVE VOTE [LAUGHTER]. ALL RIGHT, THAT'S A UNANIMOUS VOTE FOR APPROVAL.

[3.B.Consider and take possible action on a Second Amendment to the 380 and Development Agreement for Public and Private Improvements in the Reinvestment Zone Number Two, City of Burleson Between the City of Burleson and Depot on Main Holdings, LLC (CSO#543-11-2016). (Staff Contact: Alex Philips, Economic Development Director)]

THANK YOU SIR AND BOARD MEMBERS. ALEX PHILLIPS, ECONOMIC DEVELOPMENT DIRECTOR FOR THE CITY OF BURLESON, HERE TO PRESENT SECOND AMENDMENT FOR THE DEPOT ON MAIN.

IT IS A 275 UNIT CLASS A MULTIFAMILY DEVELOPMENT.

IT'S LOCATED NORTH MAIN IN KING STREET HERE IN OLD TOWN.

IT IS THE FORMER SITE OF THE CITY'S BURLESON SERVICE CENTER.

THE APPRAISED VALUE THAT'S ON THE TAX ROLLS NOW WITH THE DEPOT ON MAIN IS $21 MILLION PLUS.

THE CURRENT 380 AGREEMENT WITH THE DEPOT ON MAIN INCLUDES A 75% TIF TO REBATE ANNUALLY.

THAT MAXIMUM REBATE IS $2 MILLION AND IT'S A REBATE TO REVERSE PUBLIC INFRASTRUCTURE, SIDEWALKS, PARKING, STREETSCAPE, ETC. ON JUNE 7TH OF 21, COUNCIL APPROVED A PD ZONING AMENDMENT, REDUCING DWELLING UNITS PER ACRE FROM 75 TO 56.22 AND ALSO PROHIBITING CORRUGATED METAL.

THE AMENDMENT WAS REQUESTED DUE TO THE SITE RESTRICTIONS CAUSED BY THE RESULTS OF A FLOOD STUDY THAT WAS CONDUCTED.

THE SITE PLAN ALSO WAS ALSO AMENDED TO INCLUDE A PUBLIC DOG PARK IN THE DETENTION AREA, AND A TRAIL ON THE UP RIGHT OF WAY FOR PUBLIC TO ACCESS THAT PARK. THE DOG PARK WAS NOT INCORPORATED INTO THE PD OR THE 380 AGREEMENT.

DEPOT ON MAIN AND CITY STAFF WORKED WITH UP AND EXHAUSTED ALL OPTIONS FOR THE PEDESTRIAN TRAIL WITHIN THEIR RIGHT OF WAY, BUT UP WILL NOT ALLOW ANY PEDESTRIAN INFRASTRUCTURE ON THEIR RIGHT OF WAY.

STAFF MADE THE RECOMMENDATION FOR A SIDEWALK AND PEDESTRIAN BRIDGE FOR ADA ACCESS OVER THE DRAINAGE CHANNEL TO THE DOG PARK.

POSSIBLE DEPOT ON MAIN STUDIED THE INITIAL DESIGN AND FULL DESIGN AND CONSTRUCTION.

THE DEPOT ON MAIN DOES NOT HAVE THE FUNDS AVAILABLE TO COMPLETE THE DOG PARK WITH THESE UNFORESEEN CHANGES.

AS YOU CAN SEE HERE IN THE DIAGRAM THE PURPLE IS THE EXISTING SIDEWALK KIND OF GOING OVER TOWARDS THE PARK.

THAT TEAL COLORS THE BRIDGE THAT'S BEING PROPOSED TO GO OVER.

YELLOW BEING THE SWITCHBACK FOR ADA ACCESS TO GET BACK DOWN TO GRADE.

THAT BEIGE COLOR WOULD BE THE SIDEWALK TO GO BACK TO GET BACK TO THE EXISTING SIDEWALK PROPOSED WITHIN OUR OLD MAIN STREET RIGHT OF WAY THERE AS WELL. OUTSIDE OF THE UP RIGHT OF WAY.

SO THE AMENDMENT ADDRESSES REVISING THE SITE PLAN TO ADD THE PEDESTRIAN BRIDGE AND SHADE STRUCTURE, REVISED THE FENCING, GATES, LIGHTING, AND SIDEWALKS TO CREATE THE PUBLIC ACCESS EXHIBITS TO INCLUDE THE NEW SITE PLAN AND UPDATED COST TO APPROVE PUBLIC IMPROVEMENTS.

MAKE PERFORMANCE MEASURE PAYMENTS TOTALING $700,000 REMAINDER FOR THE $2 MILLION REIMBURSEMENT PAYMENTS CONTINUE THROUGH THE ANNUAL GRANT TIF REBATE.

SITE PLAN AMENDMENT TO BE APPROVED ADMINISTRATIVELY BASED ON THE AMENDMENT EXHIBITS.

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THIS WAY $250,000 ONCE THEY COMPLETE SITE PLAN AMENDMENT APPLICATION TO THE CITY BY DECEMBER 1ST OF THIS YEAR, OBTAIN THE BUILDING PERMIT AND COMMENCE CONSTRUCTION.

BY THE END OF THIS YEAR. $100,000 FOR THE FLAT WORK INSPECTED AND ACCEPTED BY MARCH 30TH 1ST TO 26.

$150,000. ONCE THE PEDESTRIAN BRIDGE IS INSPECTED AND ACCEPTED BY THE END OF SEPTEMBER OF 26 AND $75,000.

FINAL ACCEPTANCE OF ALL DOG PARK IMPROVEMENTS.

BY THE END OF SEPTEMBER 27TH. THE PUBLIC ACCESS AND TRAIL EASEMENT.

THESE IMPROVEMENTS RELATED TO PUBLIC ACCESS TO THE DEPOT ON MAIN DOG PARK, INCLUDE SIDEWALK, FLAT RETAINING WALLS, AND THE PEDESTRIAN BRIDGE OVER A DRAINAGE CHANNEL.

TO ENSURE THIS FUNCTION IS OF THE DRAINAGE CHANNEL DEPOT ON MAIN WILL BE RESPONSIBLE TO MAINTAIN BOTH SIDES OF THE RETAINING WALL OF THE DRAINAGE CHANNEL.

THE PEDESTRIAN BRIDGE AND THE FLAT WORK AT ITS OWN COST.

IF THE DEPOT FAILS TO DO SO, THE CITY HAS THE RIGHT, BUT NOT THE OBLIGATION TO PERFORM THE MAINTENANCE, REPAIR, RECONSTRUCTION OR REPLACEMENT AND DEPOT MUST REIMBURSE THE CITY FOR THESE COSTS.

THE CITY IS RESPONSIBLE FOR THE FUNCTION OF THE CHANNEL, MAINTAINING THE CONCRETE BOTTOM FLUME AND KEEPING IT CLEAR OF OBSTRUCTIONS.

THE IMPROVEMENTS WILL BE COVERED UNDER THE DEPOT'S INSURANCE AS WELL AS THE CITY INSURANCE SCHEDULE WITH TML IRP.

THE REQUESTED ACTION TONIGHT IS TO APPROVE OR DENY THE SECOND AMENDMENT TO THE 380 DEVELOPMENT AGREEMENT FOR THE PUBLIC AND PRIVATE IMPROVEMENTS IN REINVESTMENT #2.

SO HERE TO ANSWER ANY QUESTIONS THAT YOU MAY HAVE.

THANK YOU, ALEX, FOR THAT VERY ACCURATE RECITATION OF WHAT'S BEEN A OCCASIONALLY PAINFUL PROCESS AND A REALLY TOUGH SLOG TO GET HERE TO WHERE WE ARE. YES, SIR. I APPRECIATE YOUR DILIGENT EFFORTS AND YOUR PATIENCE WITH THE PROCESS.

AND IT LOOKS LIKE THIS SHOULD BE THE FINAL STEP TOWARDS GETTING SOMETHING BUILT OUT THERE.

I WILL SAY, AS I MENTIONED TO YOU PRIVATELY I DON'T LIKE THE FACT THAT THIS COULD POSSIBLY DRAG ON TO SEPTEMBER OF 2027, BUT AS YOU STATED TO ME, YOU JUST DON'T WANT TO HAVE TO COME BACK WITH ANOTHER AMENDMENT SOMEWHERE DOWN THE LINE.

AND I UNDERSTAND THAT. YES, SIR. I APPRECIATE THE FACT THAT YOU'RE LOOKING AHEAD TO THE POINT WHERE WE CAN MAYBE TAKE THIS ACTION AND THIS WILL BE THE LAST ONE WE EVER HAVE.

YES, SIR. I APPRECIATE THAT. I PERSONALLY FEEL LIKE ONCE THE TRIGGER GETS PULLED AND THERE'S A CONTRACTOR OUT HERE BUILDING THIS THING, HE'S GOING TO GET IT BUILT, AND HE'S GOING TO GET OUT OF THERE, AND THEY'RE GOING TO WANT HIM TO. SO I FEEL LIKE IT'LL TAKE IT'LL TAKE ITS COURSE AND IT SHOULD BE FINE. DO WE HAVE ANY OTHER QUESTIONS FROM ANYONE ON THE ON THE ISSUE? I'LL JUST IF Y'ALL REMEMBER WHEN WE HAD THE GENTLEMAN RIGHT THERE WHERE ALEX IS AND TRYING TO EXPLAIN AND TALK ABOUT WHY IT WASN'T DONE, AND I'M GLAD TO SEE IT. I THINK THIS MIGHT BE A GOOD ENDING TO IT.

GET IT DONE. THE DOG PARK WILL BE THERE. THE WALKWAY WILL BE THERE.

YES. AND I AGREE, THE DATE AS FAR AS THE DATES BEING SET OUT, AND YOU KNOW THIS AS WELL AS ANYBODY, THAT CONTRACTOR IS GOING TO WANT TO GET IN THERE AND GET DONE BECAUSE HE WANTS TO GET PAID. EXACTLY.

SO I DON'T THINK THAT'LL BE A PROBLEM WITH DRAGGING IT OUT.

HOPE NOT. THANKS. ANYONE ELSE? WE'RE GOOD. OKAY.

IF THERE'S NO FURTHER DISCUSSION, THEN WE WILL TAKE A MOTION ON ITEM 3.B.

MAKE A MOTION TO APPROVE. I'LL SECOND I HAVE A MOTION BY CHRIS AND A SECOND BY KENNY TO APPROVE ALL THOSE IN FAVOR.

ALL THE HANDS CAME UP, AND THAT ITEM PASSES WITH UNANIMOUS VOTE.

THANK YOU ALL. NEXT UP IS ITEM 3.C TO CONSIDER AND TAKE POSSIBLE ACTION ON A RESOLUTION ADOPTING THE TAX INCREMENT FINANCE REINVESTMENT ZONE #2

[3.C.Consider and take possible action on a resolution adopting the Tax Increment Finance Reinvestment Zone #2 (TIF #2) FY 2025-2026 annual budget. (Staff Contact: Kevin Hennessey, Interim Director of Finance)]

KEVIN. THANK YOU. AS WE LOOK AT THE FINANCIAL OVERVIEW FOR THE TIF #2.

SO THIS TIF WAS STARTED IN 2005 AND INCLUDES 720 ACRES ALONG HIGHWAY 35, INCLUDING OLD TOWN, AND EXTENDS EAST TO THE SOUTH OF SPINKS AIRPORT AND WEST OF THE CORRIDOR OF THE 174TH CORRIDOR.

SO IF YOU LOOK AT THE FUND HIGHLIGHTS, THIS HAS A PROPOSED BUDGET WITH THE ENDING FUND BALANCE AT THE END OF FY 26 AT $666,169. HERE WE CAN SEE THAT IN THE FORM OF OUR THREE YEAR FUND BALANCE, OUR FUND STATEMENT WITH THE PROPOSED COLUMN ON THE RIGHT.

AND THEN HERE IT IS AGAIN IN THE FORMAT OF OUR FIVE YEAR FORECAST.

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APPROVE THE TIF TO PROPOSED BUDGET WITH MODIFICATIONS OR TO DENY THE PROPOSED BUDGET, AND STAFF WOULD RECOMMEND THE APPROVAL OF THE FY 26 PROPOSED BUDGET, AND I'LL STAND FOR ANY COMMENTS OR QUESTIONS QUESTIONS? COMMENTS, ANYONE? I'LL MAKE A MOTION TO APPROVE. ALL RIGHT. I'LL SECOND. OKAY I HAVE A MOTION BY CHRIS AND A SECOND BY ALEXA TO APPROVE THE RESOLUTION.

ALL THOSE IN FAVOR? THAT MOTION PASSES BY UNANIMOUS VOTE.

THANK YOU. ALL RIGHT, NEXT UP IS ITEM 4. BOARD REQUEST FOR ANY FUTURE AGENDA ITEMS OR REPORTS.

HAVE WE ANY? I SEE NONE. HAVE WE A NEED FOR EXECUTIVE SESSION? WE DO NOT. SO WE WILL ADJOURN THE MEETING AT 4:41.

THANK YOU ALL.

* This transcript was compiled from uncorrected Closed Captioning.