Tax Increment Reinvestment Zone No. One
	Agenda Request
Agenda Of:	January 4, 2008	Agenda Request No:		II A
Initiated By:	kathy Munoz executive secretary	Responsible Department:		City Secretary
Presented By:	Glenda Gundermann, City Secretary	Department Head:		Glenda Gundermann, City Secretary
		Additional Department. Head (s):		N/A
Subject / Proceeding:	November 14, 2007 Tax Increment Reinvestment Zone No. One Meeting Minutes Approve Minutes
Exhibits:	November 14, 2007 Minutes
Clearances			Approval
Legal:	N/A		Executive Director:	Joseph Esch, Business & Intergov. Relations
Recommended Action
Approve minutes of the November 14, 2007 Tax Increment Reinvestment Zone No. One Board of Director meeting.
Exhibits

STATE OF TEXAS	§
COUNTY OF FORT BEND	§
CITY OF SUGAR LAND	§

CITY OF SUGAR LAND

TAX INCREMENT REINVESTMENT ZONE NUMBER ONE

Wednesday, november 14, 2007

REGULAR MEETING

Tax Increment Reinvestment Zone Number One convened in regular meeting open to the public, in Conference Room 161 of Sugar Land City Hall on Wednesday, November 14, 2007 at 8:04 o'clock a.m. and the roll was called of the members; to wit:

Greg Stirman, Chairman

Robert Treacy, Vice Chairman

Vincent DiCosimo, Secretary

Allen Bogard

Joan Damon

John Gamble

Louis Garvin

Jared Jameson

Frederick Fogarty

QUORUM PRESENT

All of said members were present with the exception of Director Bogard, Director Damon, Director Gamble, and Director Garvin.

Also present were:

Joseph Esch, Executive Director Business and Intergovernmental Relations

Jennifer Brown, Assistant Fiscal Services Director

Kathy Munoz, Executive Secretary

CONVENE MEETING

Chairman Stirman convened the session, open to the public, to order at 8:04 o’clock a.m.

Minutes

Chairman Stirman introduced consideration on the minutes of Tax Increment Reinvestment Zone Number One meeting held on August 03, 2007.

Following a full and complete discussion, Director DiCosimo, seconded by Director Treacy, made a motion to approve the minutes of Tax Increment Reinvestment Zone Number One meeting held on August 03, 2007. The motion carried unanimously.

town square plaza

Chairman Stirman introduced consideration on authorizing execution of a contract by and between Tax Increment Reinvestment Zone Number One, City of Sugar Land, Texas, and Sugar Land Town Square Property Owners Association, Incorporated for partial funding of promotional events in Town Square Plaza.

Mr. Joseph Esch, Executive Director Business and Intergovernmental Relations, introduced a contract between Reinvestment Zone Number One and Sugar Land Town Square that contracts Sugar Land Town Square Property Owners’ Association, Inc. to manage the plaza and promote and sponsor events for the upcoming year. Mr. Esch stated that the contract was similar to the previous year, and could have been an automatic renewal but due to its importance is being brought back for consideration. The calendar of events will be addressed later in the year, but will be consistent with the previous year. The contract allows for a dollar for dollar match based on sq. footage leased. Although this is not at 200,000 sq. feet at this time, the match is supplemented through sponsorships and additional events.

Following a full and complete discussion, Director DiCosimo, seconded by Director Fogarty, made a motion to approve a contract by and between Reinvestment Zone Number One, City of Sugar Land, Texas, and Sugar Land Town Square Property Owners Association, Incorporated for partial funding of promotional events in Town Square Plaza.. The motion carried unanimously.

sugar land town square update

Chairman Stirman introduced review and discussion on Sugar Land Town Square update.

Mr. Joseph Esch, Executive Director Business and Intergovernmental Relations, stated future meetings would include a question and discussion session regarding Town Square. He stated that in order to get the Marriot developed in Sugar Land Town Square, Highland Hospitality was offered a 25 year exclusive on the rights to build another hotel in Sugar Land Town Square, with the understanding that another hotel would not be built in the Lake Pointe development. The city agreed, thinking it more prudent to build another full service hotel closer to the Marriot. In August, Highland Hospitality received an offer to sell its outstanding stock to JER and the company went private. During this process Highland Hospitality assured the city that everything would be okay regarding the development of another hotel. In September, the city was told the deal was off because JER was trying to absorb its outstanding debt, and they were not interested in doing any new development. Due to these developments, Planned Community Developers is now looking at doing a larger office building on the site, and the city is now pursuing building another hotel closer to University Boulevard. This takes the Town Square PD back to its original concept. There are no other limitations on that site other than a hotel.

Mr. Esch stated that he would like to see development move towards the mall to increase the pedestrian appeal, but there would have to be too many players involved and that won’t happen right now. He stated that the failure to develop the hotel would not affect the TIRZ board financially, should that site take a long time to develop.

Mr. Esch stated that there had been some store closings, but this was more a reflection on the store concept than a traffic reflection. He stated that the stores that closed were high priced stores with a limited depth in selection. The Bombay stores are closing because they plan to operate in Canada, only. There are some restaurants in the square that have done very well.

Mr. Esch discussed some of the recent events that were held in Town Square and the issues that occur when turn out is larger than estimated. He stated that there are safety and security issues with crowds of people numbering from 5,000 to 15,000. He stated that with the Aga Khan event, they found that they could handle up to 15,000 people, but it also required streets closing, which was not anticipated when the contract was signed. This required additional security also. To prevent these types of situations in the future the property association can schedule more planned events in order to limit outside groups from scheduling events, and the city will require that additional criteria be added to the contracts that stipulate higher deposits and other requirements when attendance reaches a certain threshold. He stated that events like the tree lighting are not an issue because they are scheduled well in advance; the large crowds are anticipated and arrangements are made well in advance to handle the crowds.

Mr. Esch stated that there is a potential tenant who is expected to occupy 125,000 sq. ft. of the new office building, but a public announcement has not been made at this time. He stated that there would be expansion of the Lone Star parking garage with retail on the lower level. He stated a two-story office retail is planned to be built on the corner of Highway 6 near Café Express, and that Cigar, Cigar would be moving into Town Square and this was an experience unique to the area.

Mr. Esch discussed some other options regarding possible hotel development in the area. He stated that the city has an option on 5 acres near Fluor, but there was limited access to the location that could have a negative impact.

CITY STAFF REPORT

There was no report.

BOARD OF DIRECTORS REPORTS

There were no reports.

ADJOURN

There, being no further business to come before Board, Director DiCosimo, seconded by Director Treacy, moved that the meeting adjourn. The motion carried unanimously and the meeting adjourned, time at 8:35 o'clock a.m.

Greg Stirman, Chairman of the Board

Vincent DiCosimo, Secretary

(SEAL)