HomeMy WebLinkAbout12/11/2012 City Council-SS
December 11. 2012 Special Session
MINUTES OF SPECIAL SESSION OF COUNCIL
HELD ON
DECEMBER 11, 2012
The special Session of the City Council of the City of The Colony, Texas, was called to order at
7:25 p.m. on the 1 lth day of December 2012, at City Hall, 6800 Main Street, The Colony, Texas,
with the following roll call:
Joe McCourry Mayor Present
Kirk M1kUleC Councilmember Present
Richard Boyer Cou neilmember Absent
Jeff Connelly Councilmember Present
David Terre COLUncilmCnlber Present
Perry Schrag Councilmember Present
Joel Marks Mayor Pro-Tern Present
And with six council members present a quorum was established and the following items were
addressed:
1. Discuss and consider approving a resolution accepting a preliminary service and
assessment plan, proposed assessment roll, and a proposed reimbursement agreement
for the City of The Colony Public Improvement District No. 1, ordering a public
hearing to consider an ordinance levying an assessment on property located within the
City of The Colony Public Improvement District No. 1, and authorizing the publication
of notice and mailed notices for said hearing.
City Attorney Ed Voss told the council that the Public Improvement District No. I is only for
the 439.12 acres of the Nebraska Furniture Mart site. He reminded the council that on
September 18, 2012 the council accepted a petition to form the PID, and on October 8, 2012
a public hearing was held and a resolution creating the PID was adopted. The current item
under consideration is to accept a preliminary service plan for the area, however, it was
noted that there are not any expected significant changes for a final plan. The plan is
currently being reviewed by the Attorney General's office which could result in changes, and
if so, those will be broualht back to council if significant.
Motion to approve a resolution. accepting the prelimina y service and assessment plan, the
proposed assessment roll, and the proposed reimbursement agreement for City of The
Coloaay Public Improvement District No. 1, and ordering a public hearing for January 15,
2013, as presented-Terre; second by Connelly; motion passed with all ayes.
2. Discuss and consider approving a resolution and funding agreement by and between
the city of The Colony, Texas, the Board of Directors of Tax Increment Reinvestment
Zone Number One, City of The Colony, The Colony Local Development Corporation,
December 11, 2012 Special Session
LMG Ventures, LLC, and TXFM, Inc., regarding the construction, and repayment of
qualified costs concerning the Nebraska Furniture Mart project.
Ed Voss said this funding agreement incorporates the change from public finding to private
funding- a change from what was adopted previously. He passed out a red-line of the
agreement and reviewed some changes from the version that was in the agenda packet. This
agreement has been adopted earlier (tonight) by The Local Development Corporation and the
Tax Increment Reinveshrnent Zone Number One.
Motion to approve the funding agreement by and between the City of The Colony, Texas,
Board of Directors of Tax Increment Reinvestment Zone Nhtmber One, City of The
Colony, The Colony Local Development Corporation, LMG Ventures, LLC, and TXFM,
Ine., with the revisions as presented- Connelly; second by Marks; motion passed with all
ayes.
3. Discuss and consider approving a resolution and funding agreement by and between
the City of The Colony, Texas, The Colony Economic Development Corporation, LMG
Ventures, LLC, and TXFMM, Inc., regarding the construction, and repayment of certain
costs concerning the Nebraska Furniture Mart project.
Ed Voss told the council that the EDC will consider this agreement for adoption on
December 12, 2012 so council is considering it in advance of the EDC meeting. The
agreement concerns funding by the EDC for the NFM project.
Motion to approve the funding agreement by and between The Colony Economic
Development Cotpm-ation, LMG Ventures, LLC, and TXFM, Inc., as presented, and
subject to approval by the Board of Directors of The Colony Economic Development
Corporation- Marks; second by IYtikulec; motion passed with all ayes.
4. Discuss and consider approving a resolution and funding agreement by and between
the City of The Colony, Texas, The Colony Community Development Corporation,
LMG Ventures, LLC, and TXFM, Inc., regarding the construction, and repayment of
certain costs concerning the Nebraska Furniture Mart project.
Ed Voss stated that the CDC will consider this agreement for adoption on December 13,
2012 so council is considering it in advance of the CDC meeting. The agreement concerns
funding by the CDC for the NFM project.
Motion to approve the ftuhrling al. reement by and heni,een The Colony Community
Development Corporation, LMG Ventures, LLC, and TXFM, Inc., as presented, and
subject to approval bh the Board of Directors of The Colony Conurntnity Development
Corporation- Terre; second bj, Connelly; motion passed with all ayes.
December 1 1. 20 12 Special Session
And with no further bLISIneSS to discuss the meeting was adjourned at 7:38 p.m.
APPROVED:
Joe Mcc-6ul'i.y Mayor
City of The Colony '
ATTEST-
Christie Wilson, TRMC
City Secretary