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WT October * 2019 Page 3 10. Approve the Final flat of Lot 1, Block A of the Stephens 195 Addition, located in the 3900 Block of FM 195. 11. Approve the Final flat of Lot 1, Block A of the Harting EST Addition, located on I-laning Drive a/k/a County Road 42640. 12. Approve RESOLUTION ! •-037: A RESOLUTION APPROVING PRIVATE RE -SALE OF MULTIPLE TRACTS OF TAX FORECLOSED PROPERTIES, AND AUTHORIZING THE MAYOR TO EXECUTE DEEDS. ' •+ 13. Discuss , • act on • !38: A RESOLUTION OF COUNCIL OF THE CITY OF PARIS, TEXAS, APPROVING AND AUTHORIZING THE EXECUTION OF ASSIGNMENT OF AN AIRPORT GROUND LEASE AGREEMENT BETWEEN COLIN MARINO AND THE CITY OF PARIS FOR PROPERTY AT COX FIELD AIRPORT TO TEXBAMA 2, LLC, A TEXAS LIMITED LIABILITY COMPANY; MAKING OTHER FINDINGS AND PROVISIONS RELATED TO AND DECLARING DATE. City Engineer Carla Easton explained that Colin Marino had a 40 -year lease for a i hangar at Cox Field, and he wanted to assign the lease to TEXBAMA 2, LLC. She said thal Colin Marino was a named partner of the corporation. A Motion to approve this item was made by Mayor Clifford, and seconded by Coun Members Portugal and Knox. Motion carried, 5 ayes — 0 nays. I 14. Discuss, conduct a public hearing, and act on an Ordinance Designating a Certain. Area as Tax Increment Financing Reinvestment Zone Number One and Establishing a Board of Directors for such Reinvestment Zone. Ms. Easton said they had been discussing this over the last year and that tax financing was a way to set aside future tax revenue for investment in an area. She downtown had ,infrastructure .often deterred -... . #: - - # #redevelopment to cost. She said a preliminary plan for Reinvestment Zone Number One had been prepared I.# project Easton consideration, which included a 30 -year term, a 2,176 acre zone, 50% of tax rate would be aside, that $14.7 million was estimated in the fund over 30 years, and $25.5 million w estimat potent gi ve City Council a presentation, Mr. Kline Rave an overview of creating a tax increm reinvestment zone and explained tax increment financing. Mr. Kline answered questions fro City Council .#referenced the Project andFinancePlan document. packets. # hearingun Member Knox said it was not in their agenda packets. Council Member Pilgrim said he w uncomfortable passing this until he could review the information, as did other Council Member City Attorney Stephanie Harris advised a public advertised.