City of Pflugerville - File #: RES-0051

• File #: RES-0051
• Version: 7
• Name: Newland Communities TIRZ proposal
• Type: Resolution
• Status: Passed
• File created: 10/12/2010
• In control: City Council
• On agenda: 7/26/2011
• Final action: 7/26/2011
• Title: Approving a resolution appointing the board of directors of Reinvestment Zone No. One, City of Pflugerville, Texas, known as the Falcon Pointe TIRZ.
• Related files: 2011-0850, 2011-0845, 2011-0852, 2011-0851

Date	Ver.	Action By	Action	Result
7/26/2011	7	City Council	Adopted
6/28/2011	6	City Council
12/14/2010	5	City Council	Adopted	Pass
11/23/2010	4	City Council	Action taken to close the Public Hearing
11/23/2010	4	City Council	Approved on First Reading	Pass
11/9/2010	3	City Council
11/2/2010	4	City Council
11/2/2010	2	City Council	Direction to Staff	Pass
10/12/2010	1	City Council	Direction to Staff	Pass

Title
Approving a resolution appointing the board of directors of Reinvestment Zone No. One, City of Pflugerville, Texas, known as the Falcon Pointe TIRZ.
Summary
The directors of Reinvestment Zone One are appointed by the Mayor with the consent and approval of the City Council. Mayor Coleman has requested that this item be placed on the July 26, 2011 regular meeting agenda to allow the City Council to consider his recommendations. A resolution is attached providing for the appointment of the directors with staggered two-year terms with Position One serving as the chair of the board of directors.

Prior City Council Action
At their regular meeting on October 12, 2010, the City Council took action to instruct staff to enter into negotiations with Newland Communities to draft/structure an agreement for the proposed Tax Increment Reinvestment Zone (TIRZ). The City Council discussed the matter again at a special meeting on November 2, 2010, and instructed staff to enter into final negotiations with Newland Communities to create the Tax Increment Reinvestment Zone and to publish notice of public hearing for the next Council meeting. A public hearing was advertised in the Pflugerville Pflag on November 11, 2010 and was held on November 23, 2010. The City Council approved the ordinance on first reading on November 23, 2010 and approved the ordinance on second and final reading on December 14, 2011. At their meeting on June 28, 2011, the City Council discussed the draft project plan and reinvestment zone financing plan with Rainer Ficken of Newland Communities.

Deadline for City Council Action
There is no deadline for action.

Fiscal Impact
With creation of this reinvestment zone, base property values would be established in the TIRZ at 2010 levels. As development occurs in the TIRZ, the amount of property value increases. The property tax revenues above those revenues attributed to the base property values are paid to the reinvestment zone until December 31,...