AGENDADEVELOPMENT AUTHORITY BOARD

CITY OF LEANDER, TEXAS

Pat Bryson Council Chambers201 North Brushy Street - Leander, Texas

Wednesday, August 26, 2020 at 8:30 AM

           

Place 1 – Troy Hill - ChairPlace 2 – Cynthia LongPlace 3 – Joseph Eckels

Place 4 – Carson GuyPlace 5 – Vacant

In consideration of Governor Greg Abbott's executive orders regarding Coronavirus Disease(COVID-19), the Council Chamber will be open to the public with a maximum occupancy of 20. One ormore Commissioners may attend in person or by videoconference. Members of the public, not inattendance, who wish to listen during the meeting may call 1-408-418-9388 and enter access code 621 021893.  

1. Call to Order.    

2. Roll Call.    

CONSENT AGENDA: ACTION

 3. Approval of Minutes for meeting held on April 27, 2020. 

REGULAR AGENDA

 4. Discuss and consider action on approving the FY 2021 Annual Budget and providing a recommendation

to the City Council. 

5. Discuss and consider action relating to the Third Amendment to the Crescent Development Agreement toinclude several parcels within the Leander TODD MUD No. 1.

 6. Discuss and consider action approving a change to the Registered Office and Agent for the Leander

Development Authority.  

7. Adjournment    CERTIFICATION

CERTIFICATIONThis meeting will be conducted pursuant to the Texas Government Code Section 55 1.001 et seq. At any time during the meeting the Development Authority Board reserves the rightto adjourn into Executive Session on any of the above posted agenda items in accordance with the Sections 55 1.071 [litigation and certain Consultation with attorney]. 551.072[acquisition of interest in real property], 55 1.073 [prospective gift to city], 55 1.074 [certain personnel deliberations] or 551.076 [deployment/implementation of security personnelor devices]. The City of Leander is committed to compliance with the American with Disabilities Act. Reasonable modifications and equal access to communications will beprovided upon request. Please call the City Secretary at (512) 528-2743 for information. Hearing impaired or speech disabled persons equipped with telecommunication devices forthe deaf may call (512) 528-2800. I certify that the above agenda for this meeting of the City Council of the City of Leander, Texas. was posted on the bulletin board at City Hall inLeander. Texas on the 21 day of August 2020 by 5:00 pm pursuant to Chapter 551 of the Texas Government Code.

Dara Crabtree, City Secretary

EXECUTIVE SUMMARY08/26/2020

AGENDA ITEM # 3

AGENDA SUBJECT:Approval of Minutes for meeting held on April 27, 2020.

BACKGROUND:Attached are the minutes for the meeting held on April 27, 2020.

PRESENTER:Dara Crabtree, City Secretary

Attachments1. Draft Minutes

MINUTESDEVELOPMENT BOARD AUTHORITY

CITY OF LEANDER, TEXAS

Pat Bryson Municipal Hall201 North Brushy Street - Leander, Texas

Monday - April 27, 2020  

               

Place 1 – Troy Hill - ChairPlace 2 – Cynthia LongPlace 3 – Joseph Eckels

Place 4 – Carson GuyPlace 5 – Vacant

The Development Authority Board will meet by teleconference. The public may listen to and participate in the meeting byusing the above teleconference number.  

1. Called to Order teleconference meeting at 8:56 a.m. 

2. Roll Call reflected all present. 

CONSENT AGENDA: ACTION

   Motion by Commissioner Cynthia Long, Seconded by Commissioner Joseph Eckels to approve meeting

minutes for June 24, 2019.   Vote: 4 - 0  

3. Approval of Minutes for meeting held on June 24, 2019.   

 

REGULAR AGENDA

 

4. Received an update on projects related to the Northline PUD Development and Reimbursement Agreement.   

 

5. Finance Director Robert Powers discussed the FY 2021 budget.   

 

6. Discuss and consider action on the Fourth Amendment to the Oak Creek Development and ReimbursementAgreement.

  

   Motion by Commissioner Cynthia Long, Seconded by Commissioner Joseph Eckels to approve the Fourth

Amendment to the Oak Creek Development and Reimbursement Agreement.   Vote: 4 - 0  

7. Adjourned at 8:57 a.m. 

APPROVED:

________________________________________CHAIR

ATTEST:

_____________________________________CITY SECRETARY

EXECUTIVE SUMMARY08/26/2020

AGENDA ITEM # 4

AGENDA SUBJECT:Discuss and consider action on approving the FY 2021 Annual Budget and providing a recommendation to the CityCouncil.

BACKGROUND:On July 23, WCAD certified the tax roll for the Leander TIRZ No. 1. This year's taxable value (includingproperties under protest) is $470,810,386 which is a 40% increase over the prior year's value of $336,235,478. Taxrevenue estimates for next year are $1,100,000 from the City's 50% increment and $840,000 from the County's50% increment. Expenditures are based upon ten existing reimbursement agreements entered into by the TIRZsince it's creation in 2006.

TIRZ tax revenues only include value created above the base year 2006 value of 27,137,114. Also, the TIRZtaxable value does not include personal property, only real property (land and improvements.)

In chronological order of Agreement:

2011 - RB 270 Partnership*2011 - Transit Village Investors (TVI)2013 - City of Leander Hero Way waterline2013 - Crescent (Bryson)2014 - Oak Creek2018 - St. David's Medical Complex2018 - The Triangle2018 - City of Leander / Northline Improvements2018 - Northline Development2019 - Williamson County / San Gabriel Parkway

* note - Northline purchased a portion of the RB 270 property and was assigned a percentage of that agreement'sreimbursements.

Attachments1.Proposed Budget 2.Budget Summary

CITY OF LEANDERFY 2021

PROPOSED BUDGET

FY 2018 FY 2019 FY 2021

FUND ACTUAL ACTUAL ADOPTED REVISED ESTIMATED PROPOSED

FY 2020

Tax Reinvestment Zone-79

Beginning Fund Balance 453,639 739,557 202,676 202,676 367,986 378,389

Revenues 753,063 1,086,185 1,628,000 1,628,000 1,785,003 2,100,000(Less) Transfers In (103,062) (38,859) (160,000) (160,000) (300,000) (160,000)

Total Current Revenues 650,001 1,047,326 1,468,000 1,468,000 1,485,003 1,940,000

ExpendituresADMINISTRATION 467,145 1,457,756 1,628,000 1,628,000 1,774,600 2,100,000Total Expenditures 467,145 1,457,756 1,628,000 1,628,000 1,774,600 2,100,000(Less) Transfers Out - Leander Dev Auth. (397,290) (982,452) (1,457,850) (1,568,800) (1,392,729) (1,725,185)(Less) Transfers Out - City of Leander (59,200) (274,970) (170,150) (59,200) (59,200) (59,200)(Less) Transfers Out - Wms County 0 (185,180) (206,050) (206,050) (322,671) (315,615)

Total Operating Expenditures 10,655 15,154 (206,050) (206,050) 0 0

Current Operating surplus/(deficit) 639,346 1,032,172 1,674,050 1,674,050 1,485,003 1,940,000

Ending Fund Balance 739,557 367,986 202,676 202,676 378,389 378,389

Fund Summary: The Tax Reinvestment Zone No. 1 was created by the City Council in2006. The district has a separate board of directors who are charged with implementingthe Financing Plan that accompanied creation of the zone. Both the City and WilliamsonCounty contribute 50% of their respective tax collections on the "incremental" value ofproperty within the district to the TIRZ fund.

Fund Summary: The Tax Reinvestment Zone No. 1 was created by the City Council in2006. The district has a separate board of directors who are charged with implementingthe Financing Plan that accompanied creation of the zone. Both the City and WilliamsonCounty contribute 50% of their respective tax collections on the "incremental" value ofproperty within the district to the TIRZ fund.

256

FY 2018 FY 2019 FY 2021DEPARTMENT ACTUAL ACTUAL ADOPTED REVISED ESTIMATED PROPOSED

FY 2020

79-TIRZ #1 REVENUES

FRANCHISE FEES ______________ 79-00-4220 CONTRIBUTION - SAN GABRIEL T"" 0 0 0 0 0 0TOTAL FRANCHISE FEES 0 0 0 0 0 0

MISCELLANEOUS _____________ 79-00-4449 INTEREST INCOME 9,107 13,222 0 0 10,000 079-00-4450 FAIR MKT ADJUSTMENT-INVESTMENT 13 54 0 0 0 0TOTAL MISCELLANEOUS 9,120 13,276 0 0 10,000 0

TAXES _____ 79-00-4838 CURRENT TAX REVENUE 367,869 591,054 828,000 828,000 831,400 1,100,00079-00-4850 DELINQUENT PROPERTY TAX 0 0 0 0 0 079-00-4870 PENALTY & INTEREST 0 0 0 0 0 079-00-4890 TAX REVENUE - COUNTY 273,012 442,996 640,000 640,000 643,603 840,000TOTAL TAXES 640,881 1,034,049 1,468,000 1,468,000 1,475,003 1,940,000

TRANSFERS _________ 79-00-4900 TRANSFER IN 0 0 0 0 0 079-00-4925 TRANSFER IN - WATER IMPACT FEE 14,742 (172,686) 0 0 0 079-00-4926 TRANSFER IN-WASTEWATER IMPACT 88,320 211,545 160,000 160,000 300,000 160,000TOTAL TRANSFERS 103,062 38,859 160,000 160,000 300,000 160,000

TOTAL REVENUES 753,063 1,086,185 1,628,000 1,628,000 1,785,003 2,100,000

257

FY 2018 FY 2019 FY 2021DEPARTMENT ACTUAL ACTUAL ADOPTED REVISED ESTIMATED PROPOSED

FY 2020

79-TIRZ #1 ADMINISTRATION

CONTRACTUAL SERVICES ____________________ 79-01-5600 CONTRACT LABOR 0 0 0 0 0 079-01-5650 LEGAL FEES 0 0 0 0 0 079-01-5739 TIRZ / COUNTY SAN GABRIEL 0 185,180 0 0 322,671 315,61579-01-5740 DEVELOPMENT AGREEMENTS 0 0 0 0 0 079-01-5741 RB270 PARTNERSHIP DEV AGR 0 0 0 0 0 079-01-5742 VILLAGE @ LEANDER STA DEV AGR 0 0 0 0 0 079-01-5744 CRESCENT PROPERTY PAYMENT ACCT 0 0 0 0 0 079-01-5745 OAK CREEK PID PAYMENT ACCT 0 0 0 0 0 0TOTAL CONTRACTUAL SERVICES 0 185,180 0 0 322,671 315,615

SPECIAL EXPENSE/OTHER _____________________ 79-01-6202 TRANSFER TO CIP 0 0 0 0 0 079-01-6996 DEPOSIT TO ESCROW 10,655 15,155 0 0 0 0TOTAL SPECIAL EXPENSE/OTHER 10,655 15,155 0 0 0 0

CAPITAL PROJECTS ________________ 79-01-8335 LEANDER T 0 0 0 0 0 0TOTAL CAPITAL PROJECTS 0 0 0 0 0 0

TRANSFERS _________ 79-01-9000 TRANSFER OUT 59,200 59,200 59,200 59,200 59,200 59,20079-01-9002 TRANSFER OUT-LEANDER DEV AUTH 0 0 0 0 0 079-01-9013 TRANSFER OUT - RB 270 PARTNERS 14,705 14,906 32,460 32,460 21,262 25,50079-01-9014 TRANSFER OUT - TRANSIT VILLAGE 98,521 128,844 141,935 141,935 166,032 200,00079-01-9015 TRANSFER OUT - CRESCENT 173,447 493,676 634,325 634,325 625,605 700,00079-01-9016 TRANSFER OUT - OAK CREEK 110,617 234,369 393,740 393,740 373,060 515,00079-01-9017 TRANSFER OUT - MEDICAL COMPLEX 0 0 25,000 25,000 11,995 82,50079-01-9018 TRANSFER OUT - NORTHLINE DEV. 0 0 0 0 0 079-01-9019 TRANSFER OUT - NORTHLINE/CITY 0 215,770 110,950 0 0 079-01-9020 TRNSF OUT - COUNTY SAN GABRIEL 0 0 206,050 206,050 0 079-01-9021 TRFR OUT - RB 270 / NORTHLINE 0 10,945 23,840 23,840 15,613 18,73579-01-9022 TRANSFER OUT - NAKFOOR 0 0 500 500 5,416 13,50079-01-9024 TRFR OUT - CITY / NORTHLINE 0 99,712 0 110,950 173,746 169,950TOTAL TRANSFERS 456,490 1,257,422 1,628,000 1,628,000 1,451,929 1,784,385

TOTAL TIRZ #1 467,145 1,457,756 1,628,000 1,628,000 1,774,600 2,100,000

FUND TOTAL EXPENDITURES 467,145 1,457,756 1,628,000 1,628,000 1,774,600 2,100,000

*** REVENUES OVER(UNDER) EXPENSES *** 285,918 (371,572) 0 0 10,403 0

258

CITY OF LEANDERFY 2021

PROPOSED BUDGET

FY 2018 FY 2019 FY 2021

FUND ACTUAL ACTUAL ADOPTED REVISED ESTIMATED PROPOSED

FY 2020

Leander Development Authority-96

Beginning Fund Balance (15,020) (32,171) 0 0 (35,778) 0

Revenues 397,290 882,741 1,251,800 1,251,800 1,357,494 1,555,235(Less) Transfers In (397,290) (882,741) (1,251,800) (1,251,800) (1,357,494) (1,555,235)

Total Current Revenues 0 0 0 0 0 0

ExpendituresDEVELOPMENT AUTHORITY 113,226 154,695 198,235 198,235 198,235 244,235CRESCENT / BRYSON 190,598 497,284 634,325 634,325 699,325 700,000OAK CREEK 110,617 234,369 393,740 393,740 393,740 515,000MEDICAL COMPLEX 0 0 25,000 25,000 25,000 82,500NORTHLINE 0 0 0 0 0 0THE TRIANGLE 0 0 500 500 5,416 13,500Total Expenditures 414,441 886,348 1,251,800 1,251,800 1,321,716 1,555,235(Less) Transfers Out 0 0 0 0 0 0

Total Operating Expenditures 414,441 886,348 1,251,800 1,251,800 1,321,716 1,555,235

Current Operating surplus/(deficit) (414,441) (886,348) (1,251,800) (1,251,800) (1,321,716) (1,555,235)

Ending Fund Balance (32,171) (35,778) 0 0 0 0

Fund Summary: The Leander Development Authority (LDA) was created by the CityCouncil at the same time as the Tax Reinvestment Zone No. 1. The LDA acts as the"contracting arm" for the TIRZ district.

Fund Summary: The Leander Development Authority (LDA) was created by the CityCouncil at the same time as the Tax Reinvestment Zone No. 1. The LDA acts as the"contracting arm" for the TIRZ district.

260

FY 2018 FY 2019 FY 2021DEPARTMENT ACTUAL ACTUAL ADOPTED REVISED ESTIMATED PROPOSED

FY 2020

96-LEANDER DEVELOPMENT AUTHORITYREVENUES MISCELLANEOUS _____________ 96-00-4450 FAIR MKT ADJUSTMENT-INVESTMENT 0 0 0 0 0 0TOTAL MISCELLANEOUS 0 0 0 0 0 0

RECREATION FEES _______________ 96-00-4749 A/R - TIRZ ST DAVIDS MED CMPLX 0 0 0 0 0 0TOTAL RECREATION FEES 0 0 0 0 0 0

TRANSFERS _________ 96-00-4900 TRANSFER IN 363,859 674,803 1,091,800 1,091,800 1,132,494 1,395,23596-00-4925 TRANSFER IN - WATER IMPACT FEE 0 0 0 0 0 096-00-4926 TRANSFER IN - WASTEWATER IMPAC 33,431 207,938 160,000 160,000 225,000 160,000TOTAL TRANSFERS 397,290 882,741 1,251,800 1,251,800 1,357,494 1,555,235

TOTAL REVENUES 397,290 882,741 1,251,800 1,251,800 1,357,494 1,555,235

96-LEANDER DEVELOPMENT AUTHORITYDEVELOPMENT AUTHORITY

CONTRACTUAL SERVICES ____________________ 96-01-5740 DEVELOPMENT AGREEMENTS 0 0 0 0 0 096-01-5741 RB270 PARTNERSHIP DEV AGR 14,705 14,906 32,460 32,460 32,460 25,50096-01-5742 VILLAGE @ LEANDER ST DEV AGR 98,521 128,844 141,935 141,935 141,935 200,00096-01-5744 CRESCENT PAYMENT ACCOUNT 0 0 0 0 0 096-01-5745 OAK CREEK PID 0 0 0 0 0 096-01-5755 RB 270 / NORTHLINE ASSIGNMENT 0 10,945 23,840 23,840 23,840 18,735TOTAL CONTRACTUAL SERVICES 113,226 154,695 198,235 198,235 198,235 244,235

TOTAL LEANDER DEVELOPMENT AUTH 113,226 154,695 198,235 198,235 198,235 244,235

261

FY 2018 FY 2019 FY 2021DEPARTMENT ACTUAL ACTUAL ADOPTED REVISED ESTIMATED PROPOSED

FY 2020

96-LEANDER DEVELOPMENT AUTHORITYCRESCENT / BRYSON

GRANTS ______ 96-02-6003 BRYSON STORMWATER CONTROL 0 0 0 0 0 096-02-6026 US 183/183A INTERSECTION 102,278 285,739 474,325 474,325 474,325 540,00096-02-6030 BRYSON INITIAL ENTRYWAY 0 0 0 0 0 096-02-6031 BRYSON TODD ENHANCEMENTS 0 0 0 0 0 096-02-6032 BRYSON PROJECT ENTRY ROAD 0 0 0 0 0 0TOTAL GRANTS 102,278 285,739 474,325 474,325 474,325 540,000

SPECIAL EXPENSE/OTHER _____________________ 96-02-6641 BRYSON OFFSITE WATERLINES 0 0 0 0 0 096-02-6730 BRYSON LIFT STATION NO. 1 0 0 0 0 0 096-02-6731 BRYSON NORTH WW INTERCEPTOR 0 0 0 0 0 096-02-6732 BRYSON LIFT STATION NO. 2 0 0 0 0 0 096-02-6733 BRYSON SOUTH WW INTERCEPTOR 0 0 0 0 0 096-02-6734 BRYSON OFFSITE WW LINES 88,320 211,545 160,000 160,000 225,000 160,00096-02-6736 BUTLER-WINTERS WW INTERCEPTOR 0 0 0 0 0 0TOTAL SPECIAL EXPENSE/OTHER 88,320 211,545 160,000 160,000 225,000 160,000

TOTAL CRESCENT / BRYSON 190,598 497,284 634,325 634,325 699,325 700,000

96-LEANDER DEVELOPMENT AUTHORITYOAK CREEK

GRANTS ______ 96-03-6002 OAK CREEK WQ PONDS 110,617 234,369 262,255 262,255 262,255 430,30396-03-6007 SOUTH BROOK DRIVE 0 0 0 0 0 096-03-6015 WEST BROADE STREET 0 0 0 0 0 096-03-6016 OAK CREEK BRIDGE 0 0 0 0 0 096-03-6018 OAK CREEK DESIGN ENHANCEMENTS 0 0 0 0 0 096-03-6038 OAK CREEK UNDERGROUND ELECTRIC 0 0 0 0 0 0TOTAL GRANTS 110,617 234,369 262,255 262,255 262,255 430,303

SPECIAL EXPENSE/OTHER _____________________ 96-03-6640 SOUTH BROOK DR. WATERLINE 0 0 131,485 131,485 131,485 096-03-6642 WEST BROADE ST. WATERLINE 0 0 0 0 0 84,697TOTAL SPECIAL EXPENSE/OTHER 0 0 131,485 131,485 131,485 84,697

TOTAL OAK CREEK 110,617 234,369 393,740 393,740 393,740 515,000

262

FY 2018 FY 2019 FY 2021DEPARTMENT ACTUAL ACTUAL ADOPTED REVISED ESTIMATED PROPOSED

FY 2020

96-LEANDER DEVELOPMENT AUTHORITYMEDICAL COMPLEX

GRANTS ______ 96-04-6033 MEDICAL COMPLEX TRANSPORTATION 0 0 25,000 25,000 25,000 82,50096-04-6034 MEDICAL COMPLEX DRAINAGE 0 0 0 0 0 096-04-6035 MEDICAL COMPLEX DESIGN ENHANCE 0 0 0 0 0 096-04-6036 MEDICAL COMPLEX GAS LINE EXT 0 0 0 0 0 0TOTAL GRANTS 0 0 25,000 25,000 25,000 82,500

SPECIAL EXPENSE/OTHER _____________________ 96-04-6645 MEDICAL COMPLEX WL PROJECTS 0 0 0 0 0 096-04-6735 MEDICAL COMPLEX WW IMPROVEMENT 0 0 0 0 0 0TOTAL SPECIAL EXPENSE/OTHER 0 0 0 0 0 0

TOTAL MEDICAL COMPLEX 0 0 25,000 25,000 25,000 82,500

96-LEANDER DEVELOPMENT AUTHORITYNORTHLINE

GRANTS ______ 96-05-6039 NORTHLINE PUD TOD IMPROVEMENTS 0 0 0 0 0 0TOTAL GRANTS 0 0 0 0 0 0

TOTAL NORTHLINE 0 0 0 0 0 0

96-LEANDER DEVELOPMENT AUTHORITYTHE TRIANGLE

GRANTS ______ 96-06-6022 THE TRIANGLE 0 0 500 500 5,416 13,500TOTAL GRANTS 0 0 500 500 5,416 13,500

TOTAL THE TRIANGLE 0 0 500 500 5,416 13,500

FUND TOTAL EXPENDITURES 414,441 886,348 1,251,800 1,251,800 1,321,716 1,555,235

*** REVENUES OVER(UNDER) EXPENSES *** (17,151) (3,608) 0 0 35,778 0

263

LEANDER TAX INCREMENT

REINVESTMENT ZONE NO. 1

FY 2021 PROPOSED BUDGET

Tax Year AV est. BUDGET

TIRZ Agreements Actual Actual (WCAD Cert.) % chg FY 2021 City Total

2018 2019 2020 Prior Year Rebate Est. Impact Fees FY 2021

est. RB 270 4,421 2,340 2,808 20.0% $25,500 25,500 (1)

est. TVI 27,533,781 35,073,693 42,088,432 20.0% $200,000 200,000 (1)

WCAD Bryson (Crescent) 45,786,866 78,815,672 122,972,599 56.0% $540,000 160,000 700,000 (1)

WCAD Oak Creek 61,642,372 102,831,648 116,554,077 13.3% $515,000 515,000

est. St. David's 3,123,437 3,123,437 17,930,404 474.1% $82,500 82,500

est. The Triangle 2,290,411 5,851,708 155.5% $13,500 13,500

est. Northline/RB270 $18,735 18,735

est. County / San Gabriel $315,615 315,615 (2)

est. City Hero Way WL $59,200 59,200

est. City / Northline $169,950 169,950 (2)

est. Northline

est. Other (not under agreement) 90,487,574 114,098,277 165,410,358 45.0%

WCAD Total 228,578,451 336,235,478 470,810,386 40.0% $1,940,000 $160,000 2,100,000

(1) Early agreements include 2.5% of entire TIRZ value outside the respective Development's Boundaries

(2) County and City receive balance of TIRZ tax collections (split 65%/35%) after priority projects are paid.

EXECUTIVE SUMMARY08/26/2020

AGENDA ITEM # 5

AGENDA SUBJECT:Discuss and consider action relating to the Third Amendment to the Crescent Development Agreement to includeseveral parcels within the Leander TODD MUD No. 1.

BACKGROUND:In 2013, the Crescent Leander TIRZ Development and Reimbursement Agreement was approved. The Developeris rebated 80% of the incremental tax revenue generated on the property as defined in the Agreement. The propertywas incorporated as a municipal utility district (Leander TODD No. 1) Subsequent to 2013, the MUD annexedthree parcels - the Jordan Tract (10.8 acres), the Wylie Tract (30.1 acres), and the West Texas Trading RetirementTract (6.5 acres). The Wylie Tract and the West Texas Trading Retirement Tract are within the boundaries of theTIRZ. Neither parcel is developed at this point.

Staff has reached out to the Developer to request an amendment to the TIRZ property boundaries to incorporatethese two tracts in order to simplify the rebate calculation that must be performed by City staff each year. Becausethe Bryson development is a MUD, it has a unique tax ID used by the Appraisal District and County Tax Office. City staff is able to quickly capture all of the properties within the Bryson MUD regardless of property owner, legaldescription, etc. Having several parcels that are in the Bryson MUD but not within the Agreement's definedboundaries, that will subdivide and potential resubdivide over the life of the Reimbursement Agreementcomplicates the reimbursement calculation.

RECOMMENDATION:Request approval.

PRESENTER:Robert G. PowersFinance Director

Attachments1.Additional Parcles 2.Parcels in TIRZ

EXECUTIVE SUMMARY08/26/2020

AGENDA ITEM # 6

AGENDA SUBJECT:Discuss and consider action approving a change to the Registered Office and Agent for the Leander DevelopmentAuthority.

BACKGROUND:The current registered agent for the Leander Development Authoirity is Kent Cagle, former City Manager. Inaddition, subsequent to the last update, the City of Leander's address has changed to 105 North Brushy Street.

Since creation of the LDA, the Leander City Manager has been the registered agent and City Hall has been theofficial address of the LDA.

Staff requests that the Board approve a new registered agent and process the required form to send to the TexasSecretary of State's Office.

RECOMMENDATION:Designated new Registered Agent and file change of agent/address form.

PRESENTER:Paige SaenzCity Attorney