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MINUTES
The Tax Increment Finance #3 Board of the City of Garland convened in regular session at 6:00 p.m. on Wednesday, July 26, 2023, in the Work Session Room, 200 North Fifth Street, Garland, Texas, with the following members:
Present:
Patrick Abell, Chair
Bob Duckworth, Co Chair
Beena Varnan, Board Member
David Perry, Board Member
Cle Kimble, Board Member
Lori Barnett Dodson, Board Member
Absent:
Tony Torres, Board Member
Staff Present:
Matt Watson, Chief Financial Officer
Ayako Schuster, Economic Development Director
Courtney Vanover, Secretary
1.
APPROVAL OF MINUTES
a.
Consider approval of the October 26, 2022 Minutes
Motion was made by Lori Barnett Dodson to approve the minutes as presented, seconded by Bob Duckworth. Motion carried unanimously.
2.
ITEMS FOR INDIVIDUAL CONSIDERATION
a.
Public Comments
Persons who desire to address the Committee on any item on the agenda are allowed three minutes to speak. Testimony may be held until the item is considered or given at the beginning of any committee meeting. Invited testimony may also occur at any time, subject to a request of the Member of the Committee and with the approval of the Committee Chairperson.
3.
TIF #3 UPDATES
a.
Finance Update
Matt Watson provided a presentation regarding the TIF #3 Finance update.
TIF#3 Property Tax Incremental Value certified at $171,899,054
$61.8 million or 56.2% increase in Tax Base expected for FY 2024.
Increase mostly due to $41.5 million of new construction related to Riverset Development.
b.
Riverset Development
Ayako Schuster provided a presentation regarding the Riverset Development.
Phase 1
Total Lots - 286
Completed - 286 (100%)
Under Construction - 0 (0%)
Vacant - 0 (0%)
Phase 2
Total Lots - 304
Completed - 72 (23.6%)
Under Construction - 128 (42.1 %)
Vacant - 104 (34.2%)
c.
Medical District Landscape Master Plan
Ayako Schuster provided a presentation regarding the Medical District Landscape Master Plan.
Urban Landscape Design by studioOutside
Adopted in April 2023
Street Scape
Wayfinding Design
DART Bus Route Review
Parks + Open Space
Street Scape Lighting
Signage
Spatial Opportunities
Increase Row Pedestrian Space
Aquire Properties
Landscape Improvement Easements
Partner with Neighbors
Other Updates and Next Steps
Community Hospital Need Analysis conducted and completed by Forvis
Suggests 50 –110 Beds needed
Community Hospital Recruitment
Landscape Plan Phases Identified
Westwood Dr and Walter Reed Blvd maintenance
Clara Barton Street Scape Upgrade Design Begins in 2024
ROW or Easement acquisition along Peggy Ln and Marie Curie
VA Updates
Energy center will be relocated to parking lot north of Westwood
Survey underway
700 patients a week, 150-200 employees
Hospice care unit delayed due to infrastructure issues
Dermatology clinic in early fall
Parking garage feasibility study will be needed
d.
TIF #3 Expansion
Matt Watson provided a presentation regarding the TIF #3 Expansion.
Key Assets:
City controls 34 acres at site
IH 635 Improvements (anticipated completion end of 2025)
DART Transit Center & Funding
Proximity to Educational Facilities
Market Opportunity:
• Soccer - fastest-growing sport in the U.S.
• USL - largest soccer organization in U.S.
• Dallas Metroplex
• Host City World Cup 2026.
• Number one sports business city in U.S. (Sports Business Journal).
• Location serves a diverse demographic ideal for soccer market.
• No Existing Entertainment Center in Northeast side of Dallas Metroplex.
• Northeast Dallas is the most searched location for a home in the Nation (Zillow).
Lori Barnett Dodson made a motion seconded by David Perry to move forward with the TIF Expansion Plan. Motion carried unanimously.
4.
Future Meeting Date
October 25, 2023
5.
ADJOURN
There being no further business to come before the board, the meeting was adjourned at 6:52 p.m.
Submitted By:
/s/ Patrick Abell, Chair
/s/ Courtney Vanover, Secretary
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