Weatherford
Weatherford City Council, March 22, 2016: 4 items; public hearing and consider approval of Ordinance 774-2016-20 Designating a Geographical
0 consent items, 4 regular items, 1 public hearing; 4 recorded votes, all unanimous. Written from the minutes.
Hold a PUBLIC HEARING and consider approval of Ordinance 774-2016-20 Designating a Geographical Area within the City of Weatherford as a Tax Increment Reinvestment Zone Pursuant to Chapter 311 of the Texas Tax Code, to be known as Reinvestment Zone Number One, City of Weatherford. Craig Farmer, Director of Planning and Development, presented this item. Mr. Farmer noted that Economic Development, Finance, Capital Transportation and Planning & Development have collaborated on this TIRZ, including Petty & Associates, the City's third party consultant. CC032216 Page 1 of 4 Mr. Farmer recapped the development history and the need for access and roads in order to develop certain property. He stated that the concept was to create a TIRZ and approximately 1,900 acres have been identified that could develop if the roads were built. If these roadways were in place and the construction was taking place over 30 years, it is estimated that approximately $564 million would be developed in today's dollars; however, staff anticipates it might be closer to $699-$700 million in future property values from the commercial businesses. Mr. Farmer stated that does not include sales tax, personal property, or inventory; it is strictly ad valorem amounts. Staff has begun meeting with other taxing entities to discuss the TIRZ which is also being referred to as the Transportation Investment Partnership [...]
Consider a Preliminary Plat for Silverstone at Pearson Ranch, Phase 7, located south of White Settlement Road and north of the Saddle Ridge Trail, more generally described as approximately 30.12 acre tract, in the T.&P. RR Co. Survey, A-1499, City of Weatherford, Parker County, Texas. SBD2015-0040. Mr. Farmer presented this item as well. He described the area of this plat, stated that it includes approximately 75 lots, and that it was recommended for approval by staff and the PZ. On the motion of Jeff Robinson, second by Dale Fleeger, the Council voted unanimously to approve this item. Motion carried 5 - 0.
Consider and/or act upon acceptance of the annual audit report for the fiscal year ended September 30, 2015, as presented by Pattillo, Brown & Hill, L.L.P., Certified Public Accountants. Brad Burnett, Chief Financial Officer, presented this item. He introduced Chris Pruitt with Pattillo, Brown & Hill LLP. He gave an overview of the report. He stated that the City meets all the requirements again for the Excellence in Financial Reporting award from the Government Finance Officers Association, which will make this the 25th consecutive year that the City has received the award. Mr. Pruitt stated that the independent auditor has issued an unmodified opinion, or a clean opinion, which means that in their professional opinion, the City's audit statements are materially correct. CC032216 Page 3 of 4 He stated that the ending fund balance was $13.8 million. The unassigned fund balance is $6 million, which when compared to yearly expenditures is over 20 percent and is considered healthy. The unrestricted net position or equity in the utility system is slightly under $23 million, which is healthy. Mr. Pruitt noted a change in the reporting of a pension liability in conjunction with Government Accounting Standards Board (GASB) 68. The liability has always existed but has never been presented on the face of the City's financials; it was required to be disclosed in the notes. GASB now [...]
Update on Heritage Park improvements and progress. (Shannon Goodman) Shannon Goodman, Director of Parks, Recreation, and Special Events, presented this report. He stated that the landscaping in the north lot has been completed. He mentioned the sign feature that will be located on the corner of the north lot. He spoke about the progress at the amphitheater and stated that the grand opening is scheduled for April 22 from 6:00 to 10:00 p.m. Mr. Goodman noted that 24 events have already been scheduled for Heritage Park and that does not include First Monday weekends. The park is growing and the people like what the City's doing. Staff are processing special event applications daily and people are asking to rent the amphitheater for personal events. The sign feature will cost approximately $25,000 and may be completed this year. Mr. Goodman will report to the Council in April.
Compiled from the city secretary's minutes by the Ledger's extractor, in the minutes' own wording, item by item; the Ledger adds no characterization. Read the minutes for the full record.
Sources: City of Weatherford: council minutes, March 22, 2016 (Granicus); Agenda for this meeting (Granicus); Meeting video (Granicus)