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thereto was made by Mr. Hayter and seconded by Mr. Mathieu. Motion carried 6 ayes — 0 nays with Ms. Hammond abstaining. 5. Discuss and approve the FY 2023-2024 Annual Report for TIRZ o.1. Ms. Harris stated that Texas Tax Code Section 311.016 requires that the governing body of a taxing entity creating or participating in a TIRZ must file an annual report with the Texas Comptroller's office. She said the attached report reflects revenues in the fiend as of September 30, 2024, and it is her understanding that the fund has received its tax revenues for 2024/2025, but those are not reflected in this report as they were received after the end of the fiscal year. Should the board approve the annual report, Ms. Harris will submit it to the City Council for approval, and once approved by City Council, she will submit it to the Comptroller's Office through the online reporting portal. Chairman Head inquired whether the report had been filed previously, and Ms. Harris confirmed that it had. Ms. Norwood raised a question regarding a numerical discrepancy in the fiscal year portion of the introductory paragraph. Ms. Harris acknowledged the error and stated she would correct it to read "ending September 30, 2024." Mr. Mathieu also identified an extra zero in a figure, and Ms. Harris confirmed she would make the necessary correction. Mr. Hayter requested clarification on the phrase, "the captured appraised value shared by the municipality and other taxing units." Ms. Harris responded that she would verify the amounts with Finance Director Gene Anderson and stated that if the board preferred to wait until all corrections were made before approving the report, she had no objections. Following further discussion, a Motion to approve the FY 2023-2024 Annual Report for TI RZ No.1 subject to the amendments mentioned was made 'by Ms. Hammond and seconded by Ms. Norwood. Motion carried 7 ayes — 0 nays. 6. Discuss the current Finance Plan. Director of Planning and Community Development, Osei Amo-Mensah, requested that the board review the current Finance Plan and notify staff of any revisions or updates they would like to see. Chairman Head noted that under Item 6, "Total Project Cost," the figure listed is based on 2020 data and may need to be updated. Ms. Hammond asked for clarification regarding what action was being requested of the board. In response, Ms. Harris explained that the purpose of the discussion was to gauge the board's direction in preparation for future revisions. Ms. Hammond also inquired whether the "Downtown Plan" and the "Toole Plan" were the same. Ms. Harris clarified that while the City has adopted the Toole Plan, funds used for projects so far have not come from the TIRZ fund. Ms. Harris added that staff is prepared to provide an update on the Downtown Plan, including what has already been accomplished. This will give the board a clearer understanding of the remaining priorities, which can help guide decisions when revising the project plan and determining which items to set aside. Following further discussion, Chairman Head moved on to the next item. 7. Discuss the current Project Plan. Main Street Coordinator Cheri Bedford provided a comprehensive update on current and completed downtown development projects. She began by listing several partially completed initiatives, including the Plaza expansion, improvements to parking facilities, enhancements to the Farmers Market, and various traffic modifications and transit improvements. Ms. Bedford then provided background on the Toole Design Group plan, originally adopted by City Council in the 2018 Comprehensive Plan update. She noted that while some elements have been fully implemented, others remain in progress or under evaluation. The First Street Renovation Project is one such active project. It is moving forward with funding support from a Texas Capital Fund grant in the amount of $500,000, along with a $75,000 city match. Ms. Bedford acknowledged that while the project has faced some challenges, it is scheduled to begin by the end of the summer.