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Home My WebLink About11/08/2011 City Council November 8, 2011 Special Session MINUTES OF SPECIAL SESSION OF COUNCIL HELD ON NOVEMBER 8, 2011 The Special Session of the City Council of the City of The Colony, Texas, was called to order at 7:05 p.m. on the 8th day of November, 2011, at City Hall, 6800 Main Street, The Colony, Texas, with the following roll call: Joe McCourry Mayor Present Allen Harris Councilmember Present Richard Boyer Mayor Pro-Tem Present Jeff Connelly Councilmember Present David Terre Councilmember Present Perry Schrag Councilmember Absent Joel Marks Councilmember Present And with six council members present a quorum was established and the following items were addressed: 1. Discuss and consider approving an ordinance approving a Preliminary Reinvestment Zone Financing Plan for Tax Increment Reinvestment Zone Number One, City of The Colony, Texas. City Attorney Jeff Moore briefly explained the Preliminary Reinvestment Zone Financing Plan which requires council approval by ordinance. The plan contemplates the development of a 433 acre tract of land. It creates a fund from the increment portion of taxes, from the increase in appraised value, for use as reinvestment in the project. The increment portion of taxes includes 90% of city sales tax and 100% city property tax. If Denton County approves the plan, the county would put 90% of the increment of Denton County property taxes in fund. The overall estimated project cost is $1,540,196,982, with $739,990,000 in TIF project costs and $800,206,982 in non-project costs. The project consists of three phases. The plan also outlines the economic impact. This process is first step in creating zone. Motion to approve an Ordinance approving the Preliminary Reinvestment Zone Financing Plan for Tax Increment Reinvestment Zone Number One, City of The Colony, Texas, as presented - Boyer, second by Marks; motion passed with all ayes. Mayor McCourry stated Councilman Schrag was out of town on business and was unable to attend the meeting. November 8, 2011 Special Session 2. Conduct a public hearing, discuss, and consider approving an ordinance designating a contiguous area of the City as Tax Increment Reinvestment Zone Number One, City of The Colony, Texas, and establishing a Board of Directors for said zone, for an approximately 433.81 acre tract or tracts of land consisting of the following: an approximately 5.02 acre tract or tracts of land located in the B.B.B. & C.R. Survey, Abstract No. 173, City of The Colony, Denton County, Texas; an approximately 377.68 acre tract or tracts of land located in the Thomas A. West Survey, Abstract No. 1344, the B.B.B. & C.R. Survey, Abstract No. 173, the B.B.B. & C.R. Survey, Abstract No. 174, and the M.D.T. Hallmark Survey, Abstract No. 570, City of The Colony, Denton County, Texas; and an approximately 51.11 acre tract or tracts of land located in the R.P. Hardin Survey, Abstract No. 611, and the B.B.B. & C.R. Survey, Abstract No. 174, City of The Colony, Denton County, Texas, and generally located along the south side of State Highway 121 between W. Spring Creek Parkway and Plano Parkway and including a tract of land at the southwest corner of State Highway 121 and Plano Parkway. City Attorney Jeff Moore discussed the legal requirements for notices and the public hearing for this item and stated the city complied with all requirements. He also noted a time limit, such as three minutes, could be placed on the speakers due to the size of the audience. Mr. Moore explained the ordinance creates the zone, establishes the board of directors, with two members from Denton County, and outlines the duration of the zone. The public hearing is required before a motion can be made on the ordinance. Mayor McCourry asked if there was an issue without having the Denton County Members named at this time. Mr. Moore responded no, just a quorum would be required for any meetings. The Mayor opened the public hearing at 7:15 p.m. Diane Nolte asked if there was an impact study. Christi Martin expressed her concerns regarding increased traffic in the area at Paige Road and State Highway 121 in the mornings. Juan Rodriguez stated a public review of proposal for better understanding of project and traffic would be helpful. Mayor McCourry directed Mr. Rodriguez to the city's website for more information. City Manager Troy Powell stated the city is working with the developer to set up meeting with neighboring communities. Amy McKay Geehan is concerned with the increased traffic and light pollution. She expressed her desire to have representatives from Denton County on the board. Andrea Mills stated she would like more information provided about the project. Heather Morrow is concerned on how the project was introduced to the public; having a special meeting instead of presenting it at a regular council meeting. She stated the comments by city staff between meetings were confusing. Ms. Morrow is concerned about traffic and noise from a theme park and if the project will impact home values in Plano. November 8, 2011 Special Session Rick Urbanczyk stated his concern about a decrease in property values, noise and pollution related to the project. Robert Gallman requested the council think beyond the next few years and about how the project will impact the community in the future. Jason Georgilous stated communication with citizens should be clearer with more opportunity for public input. Clay McNaught reminded the council that the project will affect others outside of The Colony. Jerry Welch stated the project would have a negative impact on the home values of neighboring properties in Plano. The public hearing closed at 7:32 p.m. Councilman Harris stated anyone interested could join the city's mailing list available on the website. Motion to approve an Ordinance designating an area of the City of The Colony, Texas, as Reinvestment Zone Number One, and establishing Board of Directors for said Reinvestment Zone Number One, for an approximately 433.81 acre tract or tracts of land, generally located along the south side of State Highway 121 between W. Spring Creek Parkway and Plano Parkway, and including a tract of land at the southwest corner of State Highway 121 and Plano Parkway, as presented- Harris; second by Terre; motion passed with all ayes. Councilman Boyer stated he appreciated those that came to speak. He looks forward to being able to provide more detail of the development. 3. Discuss and consider approving a resolution of the City Council of the City of The Colony, Texas, authorizing and approving the creation of The Colony Local Development Corporation; pursuant to Subchapter D of Chapter 431 of the Texas Transportation Code, as amended, to aid, assist, and act for and on behalf of the City in the management of the Tax Increment Reinvestment Zone Number One, City of The Colony, Texas and the implementation of the Project Plan and the Reinvestment Zone Financing Plan, including in relation to the public works, public improvements, programs and other project benefiting such zone; approving the articles of incorporation; appointing initial directors and a chairperson; and containing findings and other provisions relating to other matters incidental and related thereto; and providing for an effective date. City Attorney Jeff Moore stated a Local Development Corporation is required in order to administer the reinvestment zone the council just created. The resolution includes approving the articles of incorporation and appointing a board of directors. November 8, 2011 Special Session Motion to a resolution approving the Articles of Incorporation for The Colony Local Development Corporation, as presented - Connelly; second by Harris; motion passed with all ayes. EXECUTIVE SESSION convened at 7:45 p.m. 4. Council shall convene into a closed executive session pursuant to Section 551.087 of the TEXAS GOVERNMENT CODE to deliberate commercial or financial information the city has received from a business prospect, and to deliberate the offer of a financial or other incentive to a business prospect, and receive legal advice from city attorney pursuant to Section 551.071 of the TEXAS GOVERNMENT CODE regarding economic development laws and possible incentives. Reconvened to Open Session at 8:50 5. Any action as a result of executive session regarding economic development negotiations. No action. And with no further business to discuss the meeting was adjourned at 8:50 p.m. APPROVED: oe Mcco, rry, Mayor City of The Colony ATTEST: Christie Wilson, TRMC City Secretary y{,