Title
Board Appointment; Appoint Chairman of the Board of Directors of the Tax Increment Financing Reinvestment Zone Number One, Plus a New Board Member to Replace Former Councilman James Rudnicki
Requested Action
Appoint/reappoint the Chairman and a new member to the TIF Board of Directors
Description/History
Through the ordinance establishing The Reserve TIF, the City Council has authorized a Board of Directors for the TIF. Per the Ordinance, four of the board members will be selected from Council members, and Tarrant County and Ellis County can appoint its own representatives to the board.
Current Members - The following Council members were appointed to the subcommittee to serve as City representatives on the TIF Board on January 10, 2011: Cory Hoffman (Chair), Larry Broseh (Vice-Chair), and Darryl Haynes. The departure of former Councilman James Rudnicki left a vacant position that has to be filled by another Council member.
Terms - The terms of the Board members will be two years.
According to Board Bylaws, the Council shall appoint/reappoint the chair person annually.
Responsibilities of the Board
- make recommendations to the entire City Council concerning the administration of the TIF
- implement and monitor the TIF project plan and financing plan adopted by the City Council
Prepared By
Felix Wong, Director of Planning
817-276-4228