File #: 21-1777    Version: 1 Name:
Type: Agreement/Contract Status: Regular Hearing
File created: 7/8/2021 In control: City Council
On agenda: 8/16/2021 Final action:
Title: Continued Item: Consideration of an Amendment to the Tax Increment Reinvestment Zone Reimbursement Agreement by and Among the City of Lewisville, the Lewisville Tax Increment Reinvestment Zone Number Three ("TIRZ 3"), and Bright Realty, LLC for Project Costs Within Tax Increment Reinvestment Zone Number Three; and Authorization for the City Manager to Execute the Agreement.
Attachments: 1. Staff Memo, 2. ONCE AVAILABLE BACKUP DOCUMENTS FOR THIS ITEM WILL BE AVAILABLE WHERE ATTACHMENTS CAN BE FOUND FOR THE (1)

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Continued Item: Consideration of an Amendment to the Tax Increment Reinvestment Zone Reimbursement Agreement by and Among the City of Lewisville, the Lewisville Tax Increment Reinvestment Zone Number Three (“TIRZ 3”), and Bright Realty, LLC for Project Costs Within Tax Increment Reinvestment Zone Number Three; and Authorization for the City Manager to Execute the Agreement.

 

request

ADMINISTRATIVE COMMENTS:

 

REVISED: A public hearing was held earlier in the meeting considering an amendment of the TIRZ #3 Project and Finance Plan.  The TIRZ #3 Reimbursement Agreement must be changed to reflect changes made to the Plan as well as requiring the simultaneous dedication of parks and open space to the City upon annexation of all of the Denton County Fresh Water Supply Districts prior to the effectiveness of this agreement.

 

RECOMMENDATION:

 

That the City Council approve the amendment to the Tax Increment Reinvestment Zone Reimbursement Agreement as set forth in the caption and authorize the City Manager to execute the agreement.