Tax - 2018 - 05/01 CITY OF ALLEN
TAX INCREMENT FINANCING ZONE NO. 1
BOARD OF DIRECTORS
CALLED MEETING
MAY 1,2018
Present:
Peter Vargas, Chairman(absent)
Eric Ellwanger,Vice-Chair
Marc Kurbansade,Director
Van Taylor,Director(absent)
Debbie Stout,Director
John Thomas,Director(absent)
Eric Cannon,Director
Dan Bowman,Director
Cornell Holmes,Director
City Staff:
Shelley B. George,City Secretary
Peter G. Smith,City Attorney
Chris Landrum,Budget Officer
Call to Order and Announce a Quorum is Present.
With a quorum of the Board of Directors present, the Called Meeting of the Allen Tax Increment Financing
Zone No. 1 Board of Directors was called to order by Vice-Chair Ellwanger at 8:01 a.m. on Tuesday, May 1,
2018, in the Third Floor Conference Room of Allen City Hall located at 305 Century Parkway, Allen,Texas.
1. Motion to Elect a Vice-Chair.
MOTION: Upon a motion made by Director Cannon and a second by Director Stout, the Board of
Directors voted six (6) for and none (0) opposed to elect Eric Ellwanger as Vice-Chair. The
motion carried.
2. Approve Minutes of the April 25,2017,Meeting.
MOTION: Upon a motion made by Director Cannon and a second by Director Bowman, the Board of
Directors voted six(6) for and none(0)opposed to approve the minutes of the April 25, 2017,
meeting. The motion carried.
3. Consider a Recommendation to the Allen City Council to Approve Payments from the TIF fund
pursuant to the Second Supplemental Agreement to the Amended and Restated Development
Agreement Relating to the Tax Increment Financing Zone No. 1.
Director Cannon provided an overview of the TIF Zone.
ALLEN TAX INCREMENT FINANCING ZONE NO. 1
BOARD OF DIRECTORS
CALLED MEETING
MAY 1,2018 PAGE 2
Mr. Landrum reviewed the current status of the TIF Fund with proposed deductions for City
administration costs and the proposed developer reimbursement to Watters Creek Owner, LLC.
MOTION: Upon a motion made by Director Cannon and a second by Director Stout, the Board of
Directors voted six(6)for and none(0)opposed to recommend to the City Council the approval
of a payment to Wafters Creek Owner,LLC,from the TIF Fund in the amount of$745,798.24
from the City tax increment,$125,269.23 from the County tax increment,and a payment to the
City from the TIF Fund in the amount of$15,000.00 for administrative support. The motion
carried.
Adjournment
MOTION: Upon a motion made by Director Stout and a second by Director Cannon, the Board of
Directors voted six (6) for and none (0) opposed to adjourn the Called Meeting of the Allen
Tax Increment Financing Zone No. 1 Board of Directors at 8:09 a.m.on Tuesday,May 1,2018.
The motion carried.
These minutes approved on the 9th day of May 2019.
APPROVED:
Lx‘4100-
Eric Ellwang CE-C RMAN
ATTEST:
ey B. G e,CI SECRE Y