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HomeMy WebLinkAboutMinutes Reinvestment Zone No. 2 - 04/18/2023City of Corpus Christi Meeting Minutes Reinvestment Zone No. 2 - Island 1201 Leopard Street Corpus Christi, TX 78401 cctexas.com Tuesday, April 18, 2023 9:30 AM Council Chambers A. Chairman Daniel R. Suckley to call the meeting to order. Chairman Suckley called the meeting to order at 9:33 a.m. B. City Secretary Rebecca Huerta to call roll of the Corporation Directors. City Secretary Rebecca Huerta called the roll and verified that a quorum of the Board was present to conduct the meeting. Note: Board Member Averyt participated by video conference. Present 11 - Board Member Roland Barrera, Board Member Paulette Guajardo, Board Member Gil Hernandez, Board Member Michael Hunter, Vice Chair Mike Pusley, Board Member Brent Chesney, Chair Dan Suckley, Board Member Libby Averyt, Board Member Sylvia Campos, Board Member Everett Roy, and Board Member John Marez Absent 3 - Board Member Jim Klein, Board Member Connie Scott, and Board Member Joe A. Gonzalez C. PUBLIC COMMENT: Chairman Suckley referred to Public Comment. The following citizens spoke in support of the Lake Padre Development project: Jay Gardner, 3922 Sweet Bay Dr., Alex Harris, 2138 Highway 286, Greg Smith, 1746 Glenoak Dr., and Gabi Hilpold, 13701 Three Fathoms Bank Dr. D. MINUTES: 1. 23-0695 Approval of the March 21, 2023 Reinvestment Zone No. 2 Minutes Chairman Suckley referred to Item 1. Board Member Guajardo moved to approve the minutes, seconded by Board Member Hunter and passed unanimously. E. FINANCIAL REPORT: 2. 23-0683 TIRZ #2 Financial Reports as of February 28, 2023 City of Corpus Christi Page 1 Printed on 5/30/2023 SCANNED Reinvestment Zone No. 2 - Island Meeting Minutes April 18, 2023 Chairman Suckley referred to Item 2. Director of Finance Heather Hurlbert presented information on the following topics: financial position for the five months ended February 28, 2023; and TIRZ No. 2 CIP projects. There were no questions from the Board Members. F. EXECUTIVE SESSION ITEMS: (NONE) G. AGENDA ITEMS: 3. 23-0388 Motion authorizing a Development Reimbursement Agreement with Ashlar Interests, LLC, located in the Tax Increment Reinvestment Zone No. 2 in an amount not to exceed $11,500,000 for public infrastructure improvements related to the Whitecap PID, a large-scale development in the Zone. Chairman Suckley referred to Item 3. Director of Finance Heather Hurlbert presented information on the following topics: recent board approval actions; agreement summary; Whitecap development overview; eligible infrastructure improvement projects; overview of all proposed projects; other contract terms; and staff recommendation. r card Members and Director Hurlbert discussed the following topic: all five projects must be completed before the $11,500,000 is fully reimbursed. Board Member Pusley moved to approve the motion, seconded by Board Member Guajardo. This Motion was passed and approved with the following vote: Aye: 11 Board Member Roland Barrera, Board Member Paulette Guajardo, Board Member Gil Hernandez, Board Member Michael Hunter, Board Member Mike Pusley, Board Member Brent Chesney, Board Member Dan Suckley, Board Member Libby Averyt, Board Member Sylvia Campos, Board Member Everett Roy, and Board Member John Marez Absent: 3 - Board Member Jim Klein, Board Member Connie Scott, and Board Member Joe Gonzalez Abstained: 0 4. 23-0668 Motion recommending the amendment of the Tax Increment Reinvestment Zone #2 (TIRZ #2) Project and Financing Plan to include up to $17,849,990 for public infrastructure associated with the Lake Padre Development project. Chairman Suckley referred to Item 4. Director of Finance Heather Hurlbert presented information on the following topics: City of Corpus Christi Page 2 Printed on 5/30/2023 Reinvestment Zone No. 2 - Island Meeting Minutes April 18, 2023 recent projects completed by the developer-SOBO (South Boerne); Highway 46 commercial -Boerne; The Crossing at SOBO; The Ranch at Cibolo Creek Apartments; Lake Padre development highlights; concept plan; master plan includes; phasing timeline; phasing; public improvements request for reimbursement; Tax Increment Reinvestment Zone; Promenade; public infrastructure benefits; and cost for public improvements. Board Members and Director Hurlbert discussed the following topics: Promenade will be available to the public; and Board Members thanked the developer for investing in this project. Board Member Guajardo moved to approve the motion, seconded by Board Member Pusley. This Motion was passed and approved with the following vote: Aye: 10 - Board Member Roland Barrera, Board Member Paulette Guajardo, Board Member Gil Hernandez, Board Member Michael Hunter, Board Member Mike Pusley, Board Member Dan Suckley, Board Member Libby Averyt, Board Member Sylvia Campos, Board Member Everett Roy, and Board Member John Marez Absent: 3 - Board Member Jim Klein, Board Member Connie Scott, and Board Member Joe Gonzalez Abstained: 1 - Board Member Brent Chesney 5. 23-0387 Discussion and possible action on amendments to the Project and Financing Plan for the Tax Increment Financing Zone #2 (TIRZ #2), including a recommendation to fix the amount of the City's tax revenue contribution at 100% for the first five years, 75% for year 6, 5% decrease each year for years 7-10, and 50% for years 11-20 and recommending the addition of up to $150,950,000 in projects and programs that benefit the TIRZ. Chairman Suckley referred to Item 5. Director of Finance Heather Hurlbert presented information on the following topics: agenda; recap; board actions October and November 2022; city council actions November and December 2022; today's discussion and action at future meetings; TIRZ boundaries; project and financing plan and allowable uses; identified needs; projects and expenses; current projects and commitments; potential project summary; potential projects; water/wastewater; parks and infrastructure; mobility; development reimbursement and administration; revenue; current available balances; future development; revenue considerations; revenue scenarios; action for today; and next steps. Board Members, City Manager Peter Zanoni, and Director Hurlbert discussed the following topics: sidewalks are included in the mobility plan; amenities need to be included in the project and financing plan; a board member expressed concern that only City of Corpus Christi Page 3 Printed on 5/30/2023 Reinvestment Zone No. 2 - Island Meeting Minutes April 18, 2023 $2 million is allocated for a second causeway to the island; to ensure that sidewalks are included in the development process; a board member appreciates the environmental consideration for this project; a board member supports what best serves the entire city; a board member recommends lobbying for legislation to provide alternate transportation to the island; the board can change the City's tax revenue contribution at any time; and staff recommends reducing the water/wastewater infrastructure amount to balance the projects to $150 million. Board Member Suckley moved to approve the motion as presented by staff, seconded by Board Member Hunter. This Motion was passed and approved with the following vote: Aye: 8 - Board Member Roland Barrera, Board Member Paulette Guajardo, Board Member Michael Hunter, Board Member Mike Pusley, Board Member Brent Chesney, Board Member Dan Suckley, Board Member Everett Roy, and Board Member John Marez Nay: 1 - Board Member Sylvia Campos Absent: 3 - Board Member Jim Klein, Board Member Connie Scott, and Board Member Joe Gonzalez Abstained: 2 - Board Member Gil Hernandez, and Board Member Libby Averyt 6. 22-1278 Resolution approving the FY 2022-23 Tax Increment Reinvestment Zone Number Two Operating Budget. Chairman Suckley referred to Item 6. There were no questions from the Board Members. Board Member Barrera moved to approve the resolution, seconded by Board Member Hunter. This Resolution was passed and approved with the following vote: Aye: 10 - Board Member Roland Barrera, Board Member Paulette Guajardo, Board Member Gil Hernandez, Board Member Michael Hunter, Board Member Mike Pusley, Board Member Brent Chesney, Board Member Dan Suckley, Board Member Libby Averyt, Board Member Everett Roy, and Board Member John Marez Nay: 1 - Board Member Sylvia Campos Absent: 3 - Board Member Jim Klein, Board Member Connie Scott, and Board Member Joe Gonzalez Abstained: 0 H. PRESENTATION ITEMS: (NONE) I. ADJOURNMENT There being no further business, Chairman Suckley adjourned this meeting at 11:10 a.m. City of Corpus Christi Page 4 Printed on 5/30/2023