NOTHING WAS EVER RECORDED. BUT NOW BECAUSE IF THEY RIP IT DOWN WHAT YOU GOING TO REPLACE IN
[CALL TO ORDER]
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TEXAS? GOOD EVENING AND WELCOME TO THE CITY OF MCKINNEY, TEXAS TAX REINVESTMENT ZONE NUMBER TWO MEETING. IT IS 550 ON MAY 7TH OF 2024, AND WE'RE AT 222 NORTH TENNESSEE STREET. UH OUR FIRST ITEM OF BUSINESS OR PUBLIC COMMENTS ON AGENDA ITEMS. I DO NOT SEE ANY SO WE WILL MOVE TO[Election of Vice Chair]
ITEM NUMBER 24 DASH. 1516 THAT WOULD BE THE ELECTION OF A VICE CHAIR, WHICH HAS WILL BE BY ACCLAMATION OF COUNCIL MEMBER RICK FRANKLIN TO CONTINUE SERVING IN THAT SECOND THAT MOTION. THAT EXCERPT. WAIT TILL THE VOTE. WAIT TILL THE VOTE. OK BY COUNCILMAN PHILLIPS SECOND BY COUNCILMAN CLOUDIER ALL IN FAVOR. AND OPPOSE CONGRATULATIONS.CONGRATULATIONS. THANK YOU, FRANKLIN. ONCE AGAIN, I'M THE PRESTIGIOUS POSITION. WE'LL MOVE
[Minutes of the Tax Increment Reinvestment Zone Number 2 (TIRZ2) Board Meeting of November 7, 2023]
TO ITEM NUMBER 24-1517 MINUTES OF THE TAX INCREMENT REINVESTMENT ZONE NUMBER TWO T TWO BOARD MEETING OF NOVEMBER. AND 2023 MOTION TO APPROVE. A SECOND. MOTION TO APPROVE BY MAYOR FULLER, SECONDED BY COUNCILWOMAN FELS IS ALL IN FAVOR. I ANY OPPOSED THE MOTION[Presentation of the Fiscal Year 2022-23 TIRZ 2 Annual Report]
PASSES, WE'LL MOVE TO ITEM NUMBER 24-1518 PRESENTATION AND FISCAL YEAR 22 TO 23 TURN TO ANNUAL REPORT BY CHANCE, MILLER THE FLOOR IS YOURS, MR MILLER. THANK YOU. GOOD EVENING CHANCE.MILLER COUNTY MANAGER WILL BE GOING OVER THE TERSE TWO ANNUAL REPORT, AS I MENTIONED, THIS IS REQUIRED BY THE COMPTROLLER HAVE TO REPORT TO THE COP TRAILER. WE REPORTED TO YOU ALL. AND AS I'M GOING THROUGH IT IF YOU HAVE ANY QUESTIONS, FEEL FREE TO STOP ME WHEN YOU GO INTO MORE DETAILS.
GOING INTO THE REVENUE FOR TOURS TOO. THIS UH, WE COLLECTED $2.6 MILLION RELATED TO PROPERTY TAX AND SALES TAX. THIS WAS A 27% INCREASE OVER LAST YEAR. WE COLLECTED $2 MILLION IN FISCAL YEAR 22. WE COLLECTED A LITTLE OVER $200,000 IN INTEREST, INCOME AND 28 FISCAL OR 22. WE ONLY COLLECTED 25,000. SO UM, WE DID MUCH BETTER IN FISCAL YEAR. 23 PART OF THAT IS WE SPENT $2 MILLION IN FISCAL YEAR 2222 ON AN AIRPORT PROJECT, WHICH WE HAD TIME TO BUILD UP OUR FUNDS TO GET A BETTER INTEREST. INCOME UH AND WE'RE IN EXPENDITURES ARE ONLY EXPENSE FOR F 23 WAS THE 35,000 AND THE GENERAL AND ADMINISTRATIVE EXPENSE. WE HAVE NO CURRENT DEBT ISSUED AGAINST TERSE TWO THE VALUES TWO IN 2010 , OR TAX YEAR, 2010. WE HAD 100 AND $17 MILLION IN VALUE AND TAX YEAR. 2022 WE'RE UP TO $335 MILLION THIS IS A 23% INCREASE OVER LAST YEAR IN FISCAL YEAR 22 . WE HAD A, UH, THE VALUE WAS 273 MILLION. WE CAPTURED 218 MILLION IN THE TOURS, TOO.
DOLLARS ASSOCIATED WITH THAT WE COLLECTED, UH, WE CAPTURED $1 MILLION OF THE CITY IN MCKINNEY THAT WENT INTO T TO AND 100 AND 66,000 OF KONG COUNTY. THAT WAS A 29% INCREASE OVER THE PRIOR YEAR. SALES TAX FOR 2010. WE HAD 493,000 IN FISCAL YEAR 23. WE'RE UP TO CLOSE TO $2 MILLION THAT WAS AN 18% INCREASE OVER LAST YEAR AS OUR AIRPORT HAS REALLY KIND OF GROWN AS WELL. THAT INDICATES THAT AS THE AS THE MAJORITY OF TERSE TOO, UM SO WE CAPTURED ONE POINT CLOSE TO $1.5 MILLION OF SALES TAX THAT WENT BACK INTO T, TOO. IF WE'RE LOOKING AT FUND BALANCE AT THE BOTTOM, WE STARTED AT 4.9 MILLION. WE COLLECTED 2.8 MILLION IN REVENUE. UH, $35,000 IN EXPENDITURES, NET INCOME OF $2.8 MILLION AND OUR ENDING FUND BOUNCE WAS $7.7 MILLION. THE COLLIN COUNTY RESTRICTION FOR TRANSPORTATION WAS 600,000 SO UNRESTRICTED FUND BALANCE WAS 7.1 MILLION AT THE END OF FISCAL YEAR, 23. WILL BE HAPPY TO STAND FOR ANY QUESTIONS. ANY MEMBER OF THIS BOARD WOULD LIKE TO VIOLATE A FIVE MINUTE OR LESS MEETING. PLEASE FEEL FREE TO ASK ANY QUESTIONS. MR MILLER NOW I HAVE ONE. ARE PLAYING EXPENDITURES THIS YEAR. YES WE'VE ALREADY SPENT 2.8 MILLION ON A TAXI LANE THAT WAS PRESENTED TO THE TOURIST TO BOARD IN NOVEMBER.
ARE THERE ANY OTHERS THIS YEAR THAT YOU'RE AWARE OF? THERE'S NO MORE CURRENTLY BUDGETED FOR IT HAVE TO COME TO YOU ALL FOR A BUDGET AMENDMENT BEFORE ANY OTHER EXPENDITURES WOULD BE ALLOWED TO GO THROUGH. MHM. MILLER THANK YOU FOR YOUR GOOD WORK. THANK YOU FOR BEING NO
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ITEMS ON THE SESSION, I WOULD ENTERTAIN THE MOTION TO ADJOURN THIS MEETING. SECOND MOTION BY COUNCILWOMAN FILTERS SECOND BY MAYOR FULLER ALL IN FAVOR. WE ARE HEREBY ADJOURNED IN FIVE MINUTES OR LESS. THANK YOU.* This transcript was compiled from uncorrected Closed Captioning.