1. Discussion and consideration of the proposed Tax Increment Reinvestment Zone Number Four, City of Edinburg (the “Zone”), including proposed terms for an interlocal agreement related to the Zone.

Mr. Ramiro Garza and Gus Garcia were present to discuss the proposed agreement will cover three tracts along 281 and Alberta (approximately 35 acres), an area southwest of Trenton and 281 (proposed HEB) and approximately 25 acres on Canton and 281 where a Walmart currently sits. The intention is to build an entertainment center/arena on the 35 acre tract. The future revenue from those tracts is what they will pay for public improvements for the proposed arena. They are asking the Court to participate with the city of Edinburg. He indicated they may want to include TIRZ Number One in which the County is currently in partnership with the City. Mr. Garza stated that by joining the two TIRZ projects, the revenue would pay for the arena expenses. He stated the City would like to terminate the agreement with the County for TIRZ Number One and shift the participation to TIRZ Number Four, extend the TIRZ agreement to 2045 and, request 80% participation from the County. He also informed the Court that they have sought legal advice on the matter. Mr. Garcia described the benefits to the County to include increased activity and development in the area creating increased sales tax revenue and ad valorem tax generation. Mr. Garza confirmed that the construction costs are 30 million which their commitment is. The project will be Local Government Finance Corporation owned and will be leased out. The Court wanted to know how many members of the Board were designated for the County Commission and felt they should have involvement on that Board. Mr. Garza stated that there would be a meeting held that day and they can look into adding two members on the Board to represent the County. The Court agreed that they would like 80% participation.

2. Discussion, consideration and action on a Resolution expressing the intent of Hidalgo County to participate in the proposed Zone.

With the direction of the Court, the Resolution will be reviewed by legal counsel and brought back to the next meeting. 

NO ACTION taken on this Item. 

1. Discussion and consideration of a Resolution expressing the intent of Hidalgo County to agree to a request to terminate an Economic Development Agreement relating to the Shoppes at Rio Grande Valley.

As discussed on Item 2.A, the Court will seek legal review and revisit the Item at the next meeting. 

2. Discussion and possible action on Order approving Agreement to terminate Economic Development Agreement relating to The Shoppes at Rio Grande Valley in Tax Increment Reinvestment Zone Number One, City of Edinburg.
3. Discussion and consideration of a Resolution expressing the intent of Hidalgo County to amend the Interlocal Agreement with the City of Edinburg relating to Tax Increment Reinvestment Zone Number One, City of Edinburg (“TIRZ One”).
4. Discussion and possible action on Order approving Amendment to Interlocal Agreement with the City of Edinburg relating to Tax Increment Reinvestment Zone Number One, City of Edinburg, including extending the term of TIRZ One and changing the purpose of TIRZ One.

NO ACTION taken on Items 2 - 4.