2019.01.22 TIRZ 2 Minutes1.
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PISPER
OWN OF
Prosper is a place where everyone matters.
Call to Order/Roll Call.
The meeting was called to order at 6:27 p.m.
MINUTES
Meeting of the Town of Prosper Tax
Increment Reinvestment Zone (TIRZ) No. 2
Board of Directors
Prosper Town Hall
200 S. Main Street, Prosper, Texas
Tuesday, January 22, 2019
Board Members Present:
Mayor Ray Smith
Mayor Pro-Tem Curry Vogelsang, Jr.
Deputy Mayor Pro-Tem Jason Dixon
Councilmember Mike Korbuly
Councilmember Craig Andres
Councilmember Meigs Miller
Councilmember Jeff Hodges
David Bristol, Prosper Economic Development Corporation Board Member
Collin County Commissioner Susan Fletcher
Consider and act upon approving the minutes from the January 23, 2018, TIRZ No.
2 Board Meeting.
Deputy Mayor Pro-Tem Dixon made a motion and Commissioner Fletcher seconded the
motion to approved the minutes from the January 23, 2018, TIRZ No. 2 Board Meeting.
The motion was approved by a vote of 9-0.
Receive the 2018 Annual Report.
Hulon Webb, Executive Director of Development and Community Services, provided an
update on the TIRZ No. 2 (Matthews Southwest) projects. The TIRZ No. 2 area is located
at the northwest corner of US Highway 380 and Dallas Parkway, plus an area at the
northeast corner of US Highway 380 and Mahard Parkway. Mr. Webb provided an
overview of the TIRZ funds used for eligible infrastructure projects for the reporting year;
however, none of the requests from the developer were eligible for reimbursement during
the reporting year. Approximately $63,000 in interest payments, as well as $252,000 for
reimbursement -eligible expenses was approved for Longo Toyota for the construction of
Mahard Parkway. Approximately $2.2 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, 2018. TIRZ No. 2 has received $450 in revenue this
reporting period. No funds have been expended in this reporting period for reimbursement
requests to date. The remaining fund balance is approximately $26,000, and the TIRZ #2
outstanding balance owed to the developer is approximately $2.1 million.
This item was informational only, and required no action.
Adjourn.
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The meeting was adjourned at 6:34 p.m., on Tuesday, January 22, 2019.
These minVtgq Approved an the 28th day of January 2020.
\ ....' y APPROVED:
Aa i-,
';' `•z Ray Smit , Mayor
AYTEST: . 91
Robyn attle, Town S6cretary
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