Speaker numbers apply only to this recording.
The Tax Increment Reinvestment Zone (TIRZ) No. 3 Board of North Richland Hills held a regular meeting on December 8, 2025 at 4:30 PM in the Council Workroom at City Hall. The meeting lasted approximately 21 minutes, adjourning at 4:51 PM. All votes were unanimous.
No members of the public signed up to speak.
Review of the 2025 Annual Report
Craig Halls from Economic Development presented an overview of the City Point redevelopment project, which is the focus of TIRZ No. 3. He explained the relationship between the Public Improvement District (PID) and the Tax Increment Financing (TIF) district, describing how the TIF captures the increment in property tax revenue to offset PID assessments, making the project financially feasible. He also noted that Catherine Vowels (formerly Catherine Roder) joined the board as the Tarrant County representative. The project, originally planned at $187 million, is now estimated at $225 million upon completion, reflecting a 20% increase in projected single-family values. Tax year 2025 saw a $64 million increase in appraised value, bringing City Point's total assessed value to $160 million. Of the planned 364 single-family homes, 341 have been permitted, with completion expected by December 2026. Commercial development—30,000 square feet nearing completion—has attracted a letter of intent from an anchor restaurant (unnamed), and leasing activity is expected to accelerate in 2026. The hotel component (Homewood Suites by Hilton) is about two years behind schedule, with construction anticipated to begin in 2026. Trudy then presented the financial details: the TIF’s base value at inception (2019) was approximately $6.3 million. The TIF applies to 45% of the city’s operations & maintenance tax rate, and expenses for fiscal year 2025 were approximately $20,000 for the TIF portion. The report will be filed with the state as required.
The state definition, if it doesn't have fully operational pedals to function as a bicycle, then it is not an e-bike, it is a motorcycle. Good. You're just getting aggravated. So stop it. Good evening. Welcome to North Richmond Hills. Increment reinvestment zone number three board meeting. It is 4 30, and I will call the December 8th, 2025 board meeting to order. A quorum of the board is present, and the meeting has been posted in accordance with Texas Open Meetings Act, the Texas government code. First item we'll go to is the public comments and opportunity for citizens to address the board on matters which are scheduled on the agenda for consideration by the board, not scheduled as a public hearing in order to address the board. During the public comments, the public meeting appearance card must be completed, presented to the board secretary or recording secretary prior to the start of the board meeting. Do we have anybody signed up? Okay, thank you. With that, we'll move on to the next item. Let's approve the minutes for the November eleventh, twenty twenty-four tax increment reinvestment zone number three board meeting. Can I get a motion? We approve the minutes uh presented. Thank you, Kelvin. Thank you. Russ for the second. Any discussion? Seeing none, please vote. Wait, I'm not in. There I join now. Okay. I get to vote now, so I don't exactly get to vote now. Yeah, we may need to do this via okay hand race. With a show of hands. It's unanimous. Next item, consider the appointment of vice chair and secretary to the tax reinvestment zone number three, which uh which to serve two-year terms beginning January first, twenty twenty-six and ending December thirty-first, twenty twenty-seven. Trudy. I would just reiterate to the board that this is an appointment that is made every two years for a two-year term. Um as the mayor has already stay sorry, as the board chair has already stated. This term would be um from January the first of twenty-sixth through December the thirty-first. The last appointments were done in November of twenty twenty-three, also for a term of January the first of twenty-four through december thirty-first of twenty twenty-five. And I will turn the floor over to you, uh board chair, to receive uh nominations for these positions. Anyone want to nominate the vice for the vice chair position? Naminate someone. Nominate Billy Parks. All right. Do I get a second on that? Like couldn't do that fast enough, could you?