Tax Increment Reinvestment Zone No. Three
	Agenda Request
Agenda Of:	05/11/10	Agenda Request No:		iii-a
Initiated By:	Phil Wagner Management Assistant	Responsible Department:		Community Development
Presented By:	Phil Wagner Management Assistant	Department Head:		N/A
		Additional Department. Head (s):		N/A
Subject / Proceeding:	TIRZ Three Annual Report for Fiscal Year ending September 30, 2009 Consideration and Action
Exhibits:	Annual Report
Clearances			Approval
Legal:	N/A		Executive Director:	Jim Callaway, Community Development
Purchasing:	N/A		Assistant City Manager:	N/A
Budget:	N/A
Budget
Expenditure Required: $			N/A
Current Budget: $			N/A
Additional Funding: $			N/A
Recommended Action
Review and provide recommendation to the City Council on the approval of the Tax Increment Reinvestment Zone No. 3 Annual Report for the 2009 Fiscal Year.
Executive Summary
Chapter 311 of the Texas Tax Code, known as the Tax Increment Financing Act, requires each municipality or county that has created a tax increment reinvestment zone to submit an annual report on the status of the zone. As Section 311.016 stipulates, the reports are sent to each chief executive officer of a taxing entity within the zone, along with the State Comptroller and Attorney General, and include various information related to tax increment fund values, revenues and expenditures. City Ordinance 1667, which created Tax Increment Reinvestment Zone No. 3, states that the TIRZ Board of Directors, “shall prepare and recommend to the City Council for its approval the annual report required by Section 311.016 of the Act.” The following exhibit provides the 2009 fiscal year report for the Board’s review.
Exhibits

Tax Increment Reinvestment Zone Number Three Annual Report