2009_12.02 TDD MinutesMINUTES
KENNEDALE TOWNCENTER DEVELOPMENT DISTRICT
BOARD OF DIRECTORS
REGULAR MEETING — DECEMBER 8, 2009
CONFERENCE ROOM
I.
CALL TO ORDER
Board Member, Lankhorst called the meeting to order at 7:12 p.m.
II. ROLL CALL
City Secretary, Kathy Turner called roll with the following persons present:
Bryan Lankhorst
John Clark
Jerry Miller
Robert P. Mundy
Donnie Graham
III.
Staff: Bob Hart
Kathy Turner
James Cowey
REGULAR SESSION
A. Election of Officers.
Board Member
Board Member
Board Member
Board Member
Board Member
City Manager
City Secretary
Director of Development Services
John Clark moved to elect Robert Mundy as Chairman, and Bryan Lankhorst as
Vice - Chairman. Jerry Miller seconded the motion with all board members voting
in favor. Motion carried (5 -0)
B. Review various elements of the Kennedale TownCenter Project.
Bob Hart, City Manager addressed the development of the TownCenter, which is
set up in the Kennedale TownCenter Development District (TDD) to help
facilitate the financing and operations of the TownCenter.
Next, Hart spoke on utilizing Certificate of Obligations to fund the project due to
a good portion of the project being tax exempt, which would save money and
allow for the use of fund balance monies from the Kennedale Economic
Development Corporation (EDC) to do the taxable components for the private
activity. He said an interlocal agreement would follow between the two entities,
and that the debt service payments would be charged against the EDC
Corporation.
Hart then addressed the difference between public and private activity, and
explained the allocated costs between the two for all components for the
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development of the TownCenter. He also indicated that some budget cutting
would be necessary to have the project meet budget.
C. Discuss the role of the TDD.
Bob Hart, City Manager indicated that the TDD was a vehicle used to assess and
collect for the purpose of maintaining the TownCenter development, which
allows for the assessment of the property based on the value assigned to it by the
appraisal district and /or some other means. He further indicated that the
assessment could be based on the cost of operation of the center, which could tie
back to the value.
D. Consider the adoption of assessments for the 2009 -year.
John Clark moved to set assessment at $2.840677 per $100 of taxable value,
second by Bryan Lankhorst. Motion carried (5 -0).
It was further noted that a petition and resolution from the Kennedale Economic
Development Corporation must be presented to the TDD prior to actual
assessment being authorized. A meeting was then scheduled for January 26 to
to address petition and resolution.
IV. ADJOURNMENT
There being no further discussion, Jerry Miller moved to adjourn the meeting at 8:32 p.m.
John Clark seconded the motion and all members voted in favor. Motion carried (5 -0)
APPROVED:
ATTEST:
Robert P. Mun ly, C�an
Kathyy Turrty Secretary
3
MINUTES
KENNEDALE TOWNCENTER DEVELOPMENT DISTRICT
BOARD OF DIRECTORS
REGULAR MEETING — JANUARY 26, 2010
405 MUNICIPAL DR. — KENNEDALE MUNICIPAL BLDG.
CONFERENCE ROOM
L CALL TO ORDER
Chairman Robert Mundy called the meeting to order at 7:16 p.m.
II. ROLL CALL
Kathy Turner, City Secretary called roll with the following persons present /absent:
Robert Mundy
Bryan Lankhorst
John Clark
Donnie Graham
Jerry Miller
Chairman
Vice - Chairman
Board Member
Board Member
Board Member
Staff present:
Bob Hart
Kathy Turner
City Manager
City Secretary
III. REGULAR ITEMS
A. Review and consider action to approve meeting minutes dated December 8,
2009.
Jerry Miller moved to approve meeting minutes dated December 8, 2009, second
by Vice - Chairman Lankhorst. Motion carried unanimously (5 -0).
B. Review and consider action to accept Petition for financing services and
improvements with assessments for properties located within the Kennedale
Retail Center ( Kennedale TownCenter).
John Clark moved to accept Petition to finance TownCenter improvements,
second by Vice - Chairman Lankhorst. Motion carried unanimously (5 -0).
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C. Review and consider action to approve Resolution No. 001 establishing an
assessment for the Kennedale TownCenter Development District.
Vice - Chairman Lankhorst moved to approve Resolution No. 001 establishing a
total assessment of $2.840677 per $100 of taxable value for the Kennedale
TownCenter Development District, second by Jerry Miller. Motion carried
unanimously (5 -0).
D. General discussion and review of the Kennedale TownCenter.
Bob Hart, City Manager provided an update on activities within the TownCenter,
which included the following:
1) Sustainable Infrastructure Grant
2) TownCenter improvements bid expectancy around 5 of March
3) Water /Sewer line bid opening results for High Ridge
IV. ADJOURNMENT
There being no further discussion, Chairman Mundy asked for a motion to adjourn. Vice -
Chairman Lankhorst so moved and Donnie Graham seconded the motion. Motion carried
unanimously and meeting adjourned at 7:44 p.m.
APPROVED:
Chairman, Robert ly
ATTEST
Kathy Turner, City Secretary