Good evening, ladies and gentlemen.

It is 5 15 p.m.

on Tuesday, December 16th, but I'm going to call to order and announce we have a quorum present for the tax increment reinvestment zone number two meeting.

Let the record reflect that council member Tiscus was not able to attend tonight.

Item two on the agenda is approval of the minutes.

2A is considered approval of the minutes of the TERS number two board held September 22 of 2020.

Motion for Heidi Wilder.

Thank you for that.

Second provided by Luke Williams.

Any conversation or questions on the minutes before we call for vote?

Let's vote on.

We have uh the item passes with one recusal.

Item three on the agenda is regular agenda items three A is considered recommendation of ordinance o 2025-52, admitting the project costs of reinvestment zone number two, City of Weatherford, Texas and approving unamended and restated final project to finance plan for reinvestment zone number two, City of Weatherford.

Welcome back, Mr.

Matt Leplett.

Mayor, members of council.

Uh the amendment before you is for reinvestment zone number two, better known as TERS Two.

Uh this proposed amendment is a change to the project and funding plan only.

There is not a boundary change proposed with this amendment.

Uh to give you a little bit of background and some details about this amendment.

We have our consultant, Jordan Sawyer.

Welcome, sir.

Good seeing you all again.

Yes, sir.

It's been a long time.

Well, and and with that piece, I'm gonna run through these first two slides, Jen.

Just really, I know since it is a new meeting, really just kind of a broad overview of the TERS process.

Just for the record, you're with P3 works.

Yeah, quick B three words.

I'm the regional director for North Texas and P3 words.

Thank you very much.

Yeah.

So, yeah, TERS process.

We're gonna just really click through this.

TERS allows a designation of a specific area to use the tax dollars to let it in there for specific purposes.

So clicking through that piece.

As Matt mentioned for TERS number two, right now we're really just modifying the project list.

Uh so there's no boundary amendment.

This is the boundary of TERS 2.

Uh, as we as we looked at TERS 1 earlier, it was on the I-20.

This is really kind of the heart of Weatherford.

This is really the downtown area that we approve that looks so beautiful for Christmas right now.

Uh so this was created back in 2018.

Uh, at that time the city agreed uh to participate at 50 percent.

Uh, there's no other participants in there, so the county of the hospital district don't participate in that.

Uh, this TERS terminates in 2040 cents, or again, if it earlier satisfies all of its obligations, or it could be extended uh if the turn in accordance with the TERS at if there's a decision to do so.

Uh so here, really the the meat of what we're talking about tonight is this project change.

Uh so there's an update here.

You see in the blue, uh, those are the original project list.

Uh, tonight, what we're really looking at is updating this down uh to those those boxes in the yellow there.

Um, so that's really I see a lot of the street updates.

You'll see the downtown bathroom, you see the chamber of commerce building.

You see some of those projects that are really designed again uh to help in the sitter part of town.

Um so project costs have been updated accordingly uh based on the update and removal of those projects.

Again, no one else participates in this.

Uh, really again.

This is the TERS generates the revenues, the bucket of money uh that allows the city to really prioritize how it goes through these costs uh to use those dollars, uh, but really identifying those is a part required about the TURS apps.

Uh so that's why those projects are identified.

The project number is really how they've been presented, not necessarily a a limitation or a specific priority list.

I know that that'll be something that the the council can talk through as those dollars become available.