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[ CITY OF BAYTOWN NOTICE OF MEETING NOTICE OF JOINT BOARD OF DIRECTORS MEETING OF THE BAYTOWN REDEVELOPMENT AUTHORITY AND TAX INCREMENT REINVESTMENT ZONE NUMBER ONE, CITY OF BAYTOWN, TEXAS THURSDAY, JUNE 15, 2023 4:00 P.M. BAYTOWN CONFERENCE ROOM, CITY HALL 2401 MARKET STREET, BAYTOWN, TEXAS 77520 AGENDA CALL TO ORDER AND ANNOUNCEMENT OF QUORUM ]
JOINT MEETING, THE BOARD OF DIRECTORS OF THE BAYTOWN REDEVELOPMENT AUTHORITY AND TAX VENTURE REINVESTMENT ZONE NUMBER ONE.[a. Consider approving the Baytown Redevelopment Authority and Tax Increment Reinvestment Zone Number One Minutes of the February 7, 2023, joint meeting.]
AND FIRST ITEM IS TO CONSIDER APPROVING THE MINUTES OF THE, EXCUSE ME, FEBRUARY 7TH, 2023 JOINT MEETING.UH, THOSE WERE ON THE DIGITAL COPIES THAT WERE SENT OUT.
SO IF YOU HAVE A QUESTION, PULL UP YOUR PHONE REAL QUICK AND OKAY.
I DO, I HERE I MOTION ENTERTAIN THE MOTION.
[a. Review contents of Digital Handbook and TIRZ Project Cost Summary.]
REVIEW CON CONTENTS OF THE ADDITIONAL HANDBOOK AND TERMS PROJECT COST SUMMARY.YES, MR. MR. CHAIRMAN, UH, IN THE DIGITAL PACKET YOU'LL FIND THE, UH, WE PROVIDED THE, UH, DIGITAL HANDBOOK AND A LOT OF THAT INCLUDES INFORMATION ABOUT THE BOARD, ITS ROLE, UM, SOME OF THE INFORMATION WE HIGHLIGHTED IN OUR PREVIOUS, UH, PRESENTATION BY MUNI CAP, UH, AND THEN THE PROJECT COSTS AS WELL.
'CAUSE THAT WAS A, A REQUEST, A LONG TIME REQUEST FROM THE, THE BOARD.
SO THAT INFORMATION WAS THERE KIND OF IN SUMMARY FORMAT, BUT WE ALSO HAVE ENGINEERING DEPARTMENT HERE TO SPEAK TO ANY OF THOSE PROJECTS AND THEIR STATUSES.
DO YOU HAVE ANY QUESTIONS? PROJECTS? ALRIGHT, WE'LL MOVING ON
[a. Receive and consider the Eighth Amended and Restated Project and Finance Plan, which enlarges the Zone boundaries and increases the project costs.]
TO ITEM THREE EIGHT.WE'LL RECEIVE AND CONSIDER THE EIGHTH AMENDED AND RESTATED PROJECT FINANCE PLAN.
SO THE, THE PRIMARY PURPOSE OF THIS EXPANSION IS TO BUILD IN THE ENTIRETY OF THE OLD MALL PROPERTY INTO THE TERRAS.
UH, IT WILL ALSO, UH, BRING IN THE, UH, CURRENT SAN JACINTO COTTAGES PLANNED, UM, DEVELOPMENT.
BUT THIS IS, SAY THE PRIMARY PURPOSE IS TO PULL IN THE, UH, ALL DEVELOPMENT.
AND THE RATIONALE FOR THAT IS, IS TWO IN THAT FIRST GIVES US WHERE CONTROL OVER WHAT HAPPENS IN TERMS OF THE DEVELOPMENT.
AND SECOND, IT GIVES US THE OPPORTUNITY TO LEVERAGE THE RESOURCES FROM THE TOUR'S INCREMENT TO HELP WITH THE COST OF INFRASTRUCTURE GOING FORWARD.
SO THAT'S THE, THE RATIONALE FOR THE EXPANSION.
WELL, IT SAYS IN THE LARGEST, THE ZONE, ZONE BOUNDARIES IS THAT THAT'S GOING TO ENCOMPASS THE, SHOULD I SAY IT WILL EXTEND THE BOUNDARIES AND THEN SAY THE ENTIRETY OF THE, THE OLD MAL PROPERTY NOW WILL BE WITHIN THE TERRA.
I BELIEVE AT ONE POINT IN TIME IT WAS, AND IT WAS TAKEN OUT FOR RIGHT.
A REASON THAT WAS SPECIFIC TO THAT TIME.
THERE'S, THINGS HAVE CHANGED OBVIOUSLY, AND THAT MAKES SENSE HOW TO BRING IT BACK IN.
WE HAD HAD IT ORIGINALLY IT WAS IN THE, IN THE TURS.
THAT WAS BACK WHEN DR. MURRAY FIRST WAS THE, UH, BRUCE THISOR AND GOT, GOT, GOT THE TURS GOING.
IT WAS IN THERE AND THEN SAW THE MALL WAS NOT GOING TO CONTRIBUTE ANYTHING.
IT WAS, UH, MADE A DECISION TO TAKE IT OUT SEVERAL YEARS AGO, MANY YEARS AGO.
NOW, AS I SAY, THE WORLD'S MOVED ON AND WE'RE IN A DIFFERENT PLACE NOW AND IT MAKES GOOD SENSE TO BRING IT BACK IN.
ALRIGHT, WELL DO WE NEED A MOTION TO BRING THAT BACK INTO, INTO PLAY OR IS THIS I THINK WE'RE ON MUTE.
SO NO FUNDING OR NEED NO MONEY, I MEAN JUST, JUST JUST THE PROPERTY.
WE WILL BRING, WE WILL BRING THE ENTIRE OF THAT PROPERTY IN AND THEN OBVIOUSLY DETER THEM.
WE'LL GET VALUE FROM THE INCREMENT AS THAT DEVELOPMENT STARTS TO BUILD OUT.
SO THE POINT IS WE WANT TO GET IT NOW WHERE THERE'S NOTHING THERE.
SO THAT WHEN THEY START BUILDING SOMETHING, WE GET THE VALUE FROM IT.
SO THE ACTION BEFORE THE BOARD IS TO ACCEPT THE EIGHTH AMENDED PROJECT, ADVANCE PLAN AND RECOMMEND APPROVAL BY COUNCIL BECAUSE IT HAS TO BE APPROVED BY COUNCIL.
IT'S GOING TO, IT'S ON THE COUNCIL AGENDA FOR, UH, IT'S THE NEXT MEETING ON THE 22ND.
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THE COTTAGES.THAT PROJECT HAS BEEN OKAYED AND IT'S GOING AHEAD.
YEAH, NO, IT, IT'S BEEN ADOPTED AS A PLANNING AND DEVELOPMENT.
UM, I THINK THERE'S BEEN SOME CHANGING OF THE HANDS IN TERMS OF WHO OWNS THE PROPERTY AND WHO'S GONNA ACTUALLY DEVELOP IT.
BUT IN TERMS OF BEING AN ENTITLED, YOU KNOW, ZONED PROJECT, IT'S, IT'S APPROVED.
WHY WOULD WE WANNA TAKE THAT IN? IF IT'S ALREADY BEEN APPROVED, THEY'RE GONNA BUILD IT.
WHY WOULD WE TAKE THAT IN? WHAT WE VALUE IN, IN CAPTURING THAT, UH, INCREMENT INCREMENTAL VALUE IN TERMS OF REVENUE GENERATION FOR THE TERMS IT COME TO THE END OF THE TERMS THAT, SO US, AGAIN, AS THEY BUILD THAT DEVELOPMENT, THAT INCREMENT WILL ACCRUE TO THE TOURS.
SO RESOURCE WILL BE AVAILABLE TO YOU THEN TO USE WITHIN THE TOURS.
SO THE CITY WOULD HAVE NO PROBLEM WITH THAT.
THE MONEY WOULD NOT GO TO THEM.
IT WOULD COME TO US, ALTHOUGH WE WEREN'T THE ONES THAT BROUGHT THIS PROJECT IN.
WE JUST SEE THE BENEFIT LOOKING AT THE, THE ENTIRETY OF THE TOURS AREA AND THINKING ABOUT HOW WE USE ALL THOSE FUNDING MECHANISMS STRATEGICALLY, IT MAKES SENSE TO BRING THIS INTO THE TOUR BECAUSE THE WAY THAT WORKS OSCAR, IS THAT THAT MONEY, EVEN THOUGH IT, IT'S IN THE, IN WE COME INTO THE TURS, IT WOULD BE UNDER THE AUSPICE OF THE CITY.
SO IF THERE ARE ANY PROJECTS, LIKE ANY KIND OF INFRASTRUCTURE, I KNOW LIKE WHEN WE DID HUNT ROAD WHEN WE, OR INDEPENDENCE BOULEVARD, I THINK THAT WAS IT WHEN WE PUT IN A, A SIGNAL THERE, UH, THAT WAS DONE THROUGH, BACK THROUGH THE TURS TO PUT IN THAT SIGNAL THERE ON GARTH AND HUNT AND UH, EXCUSE ME, INDEPENDENCE BACK AT THAT TIME.
AND TURS TOOK CARE OF IT, BUT IT WAS ABLE TO, WE WERE ABLE TO DO THAT WITHOUT THE CITY HAVING TO COME OUTTA THE COFFERS.
SO I'LL ALSO GET THE BENEFIT OF THE COUNTY INCOME AS WELL.
SO, ALRIGHT, YOUR A MOTION TO APPROVE.
WE HAVE A MOTION APPROVE HERE.
ANY FURTHER DISCUSSION? COMMENTS? I HAD A, A QUESTION I GUESS, AND MAYBE WE ALREADY DISCUSSED THIS IN PRIOR MEETINGS, BUT UH, AS I UNDERSTAND IT, THAT'S UH, AN OVERLAY ZONE.
IS ANYBODY FAMILIAR WITH THAT TERM? THERE'S AN OVERLAY ON TOP OF IT.
HAVE WE DISCUSSED THAT IN TERMS, IS THIS PART OF THAT WHEN YOU'RE THINKING OVERLAY, YOU'RE THINKING ABOUT, UH, IN ZONING, UM, ASPECTS? THIS IS INDEPENDENT OF THAT.
IT'S, IT'S NOT, IT'S NOT NECESSARILY WHAT WE WOULD CALL AN OVERLAY, BUT IT, IT KIND OF OPERATES LIKE THAT BECAUSE IT DOESN'T AFFECT THE ZONING OR ANY OF THAT STUFF.
IS THERE, IS THAT PUBLISHED ANYWHERE ON THE CITY'S WEBSITE? I COULD GO PULL IT UP AND READ ABOUT IT JUST TO UNDERSTAND MORE ABOUT THE OVERLAY.
SO JUST TO CLARIFY, THE OVERLAY YOU'RE TALKING ABOUT THE ZONING OVERLAY FOR THAT AREA? THAT'S PART OF OUR ZONING ORDINANCE.
I CAN SEND THAT INFORMATION TO YOU.
THING WE HAVE, UH, NO FURTHER COMMENTS OR QUESTIONS.
ALL THOSE IN FAVOR SAY AYE A ALL THOSE OPPOSED LIKE SIGN.
MOTION PASSES CONCLUDES OUR BUSINESS FOR THIS MEETING.
APPRECIATE EVERYONE BEING HERE.
SHORT AND SWEET, BUT WE HAD TO GET THIS DONE BECAUSE LIKE I SAID, IT'S GOING TO COUNCIL HERE NEXT MEETING.
SO SOMETHING NEEDED TO BE, NEEDED TO BE ATTENDED TO.
I WILL REPORT BACK TO THEM THAT YOU HAD DISCUSSED IT AND THE GET THAT FEEDBACK.
AND THEN AS WE MENTIONED PART OF THAT, UM, ITEM NUMBER TWO, I THINK LIFETIME AROUND, THERE WAS A QUESTION ABOUT, YOU KNOW, WANTING TO KNOW WHAT HAS BEEN FUNDED SO FAR BY THE, WITH THE THIRD.
SO WE HAVE, UH, PUT THAT TOGETHER.
SO THERE'S A LIST OF ALL THE PROJECTS THAT WERE FUNDED, THE DOLLAR AMOUNTS THAT THAT FUNDED THEM.
AND GOING FORWARD, AS MORE PROJECTS ARE PULLED IN, WE'LL CONTINUE TO UPDATE THAT.
YOU'LL ALWAYS HAVE THAT COMPLETE PICTURE OF WHAT HAS BEEN DONE THROUGH THE TERMS ON THAT LIST OF THE STREETS.
IS THAT WHAT YOU'RE TALKING ABOUT? YES, YES, YES.
IS THAT A SECOND FROM YOU, MIKE? I'LL SECOND HAVE A SECOND.