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Mr. Path reminded everyone that the base year began with the 2019 assessed property <br />values and that the City receives 50% and TIRZ receives 50% of city ad valorem taxes attributable <br />to the incremental increase in valuation over the base year value. Ms. Hammond inquired if this <br />would prohibit industries from getting tax abatements. Ms. Harris said it would not and Mr. Path <br />said he would recommend tax abatements for future industry. Board Member Cody Head said <br />the funds collected from TIRZ should be shared between industry and downtown. <br />6. Review TIRZ Balance Sheet. <br />Mr. Path reported as of this date, the fund contained $159,079.05. <br />7. Discuss future meeting dates and times. <br />The Board discussed meeting dates and times and it was a consensus to meet on the second <br />Thursday of each month at 3:00 p.m. in the City Council Chambers. <br />8. Request for future agenda items. <br />Ms. Harris said she would be bringing an annual report to the Board for review and <br />approval. There was a consensus of the board to put an item on the agenda for discussion <br />on the boundaries, rules and responsibilities, and explore opportunities. Mr. Vine said there <br />would also need to be an item recommending to the Council who the Board wishes to serve <br />as Chair. <br />9. Adjournment. <br />There being no further business, Mr. Vine adjourned the Ateeting at 3:38 p.m. <br />Ro rt Vine <br />Deputy City Manager <br />