2018.01.23 TIRZ 1 MinutesF
3.
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ISPER
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Prosper is a place where everyone matters.
Call to Order/Roll Call.
The meeting was called to order at 6:00 p.m.
MINUTES
Meeting of the Town of Prosper Tax
Increment Reinvestment Zone (TIRZ) No.
Board of Directors
Prosper Municipal Chambers
108 W. Broadway, Prosper, Texas
Tuesday, January 23, 2018
Board Members Present:
Mayor Ray Smith
Mayor Pro-Tem Curry Vogelsang, Jr.
Deputy Mayor Pro-Tem Jason Dixon
Councilmember Mike Korbuly
Councilmember Meigs Miller
Councilmember Jeff Hodges
David Bristol, Prosper Economic Development Corporation Board Member
Collin County Commissioner Susan Fletcher
Board Members Absent:
Councilmember Kenneth Dugger
Invocation, Pledge of Allegiance and Pledge to the Texas Flag.
Reverend Tom Smith of St. Paul's Episcopal Church led the invocation. The Pledge of
Allegiance and the Pledge to the Texas Flag were recited.
Consider and act upon approving the minutes from the April 11, 2017, TIRZ No. 1
Board Meeting.
Commissioner Fletcher made a motion and Councilmember Korbuly seconded the motion
to approved the minutes from the April 11, 2017, TIRZ No. 1 Board Meeting. The motion
was approved by a vote of 8-0.
Receive the 2017 Annual Report.
Hulon Webb, Executive Director of Development and Community Services, provided an
update on the TIRZ No. 1 (Gates of Prosper) projects. The TIRZ No. 1 area is comprised
of the northeast and northwest corners of Preston Road (SH 289) and US Highway 380.
Several businesses have opened in the Gates of Prosper, including Dick's Sporting
Goods, Field & Stream, Chili's, and Whataburger, and Walmart and Chick-Fil-A are
expected to open soon. Mr. Webb provided an overview of the TIRZ funds used for eligible
infrastructure projects for the reporting year. Approximately $9 million in project
reimbursements have been requested from developers to date.
Finance Director Kelly Neal continued the presentation with an overview of the financial
report ending September 30, 2017. TIRZ No. 1 has received approximately $787,000 in
revenue this reporting period through property tax, sales tax, and impact fee revenue.
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5.
Approximately $1.1 million of the $9 million in reimbursement requests has been
expended. The remaining fund balance is approximately $187,000.
Deputy Mayor Pro-Tem Dixon made a motion and Mr. Bristol seconded the motion to
accept the TIRZ No. 1 2017 Annual Report. The motion was approved by a vote of 8-0.
Adjourn.
The meeting was adjourned at 6:10 p.m., on Tuesday, January 23, 2018.
These minutes approved on the 22nd day of January 2019.
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APPROVED:
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