Page 276 - Benbrook FY20 Approved Budget

CITY OF BENBROOK 2019-20 ANNUAL BUDGET

BENBROOK BOARDS AND COMMISSIONS
TAX INCREMENT FINANCE REINVESTMENT ZONE NO. 1
BOARD OF DIRECTORS

ESTABLISHMENT

The Tax Increment Finance Reinvestment Zone No. 1 (TIF) Board of Directors was established by Ordinance No.1137 in November 2002.

PURPOSE

The purpose of the TIF Board of Directors is to advise the City Council on projects and financing within Reinvestment Zone No. 1.

POWERS

The powers of the TIF Board are established by State Law and by Ordinance No. 1137. The TIF Board is allowed to: make recommendations
on projects for inclusion within the TIF Zone, make recommendations on the Financing Plan to implement the Project Plan, and perform any other
duties assigned to the Board by the City Council.

MEMBERS

The TIF Board of Directors is comprised of seven directors. Four directors are appointed by the City Council. One director is appointed from
each of these three governmental authorities: Tarrant County, Tarrant County College District, and Tarrant County Hospital District.

TERMS

The TIF Board of Directors has two-year terms. Places 1, 3, 5, and 7 are appointed in odd-numbered years; Places 2, 4, and 6 are appointed
in even-numbered years.

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