Agenda

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AI- 42923

Commissioners Court

Meeting Date:	04/10/2017
Public Hearing - Princeton TIF
Submitted By:	Nicole Gillespie
Department:	Administrative Services
Request Type:	GENERAL

Information

Department Action

County Participation in the City of Princeton TIF1

ENGINEERING DEPARTMENT COMMENTS:

1. CR 400 and Beauchamp are the only roads/streets that are in the proposal that are in the County Thoroughfare Plan.

2. It is possible that a decision could be made in the future for a limited access roadway to follow the alignment of the current CR 400. Such a decision would change the nature of CR 400 as it is proposed in the TIRZ. It seems it is premature to make a decision on a TIRZ that includes CR 400 until a decision is made on the limited access roadway. It may be possible, however, to approve the TIRZ and then, if the limited access roadway is approved on the CR 400 alignment, convert CR 400 to a service road of the limited access roadway.

3. In the application, Paragraph 4.b., it states that what is requested is participation in the costs of roadways and “associated utilities…”. In the Project and Financing Plan, page 4, it also specifically includes water and sewer as one of the features that would be paid for. The County typically does not pay for new water and sewer lines; only the adjustment of water and sewer lines as a result of the construction of a roadway.

Purchasing Department Action

No action by Purchasing.

HR and/or IT Action

Budget Department Action

Public Hearing regarding request from the City of Princeton for Collin County to participate in TIF #1.
Request from City of Princeton for TIF #1 to include 50% participation by Collin County with maximum reimbursement amount of $10,568,000. Princeton City Council approved creation of TIF #1 December 14, 2015 for 30 years (2015 through 2045).

Auditor's Office Action

Funds available in the General Fund.

Commissioners Court

Public Hearing – Inter-Local Cooperation Agreement for Participation with the City of Princeton for 50% participation in the Tax Increment Financing (TIF) Zone Number One, Administrative Services.

Budget Information

Information about available funds

Budgeted:

Funds Available:

Adjustment:

Amount Available:

Unbudgeted:

Funds NOT Available:

Amendment:

Account Code(s) for Available Funds
1:	001-1001411.81-03

Fund Transfers

Remarks:

Funding would be included in the FY 2018 budget. No payment would be due in FY 2017.

Attachments
TIF1
Updated ILA
FUTURE R-O-W