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Minutes January 30, 1996180 CITY OF DENTON CITY COUNCIL MINUTES JANUARY 30, 1996 The Council convened into a joint session with the Denton Independent School District on January 30, 1996 at 5:30 p.m. in the Assembly Room DISD Central Services, 1307 N. Locust Street, Denton, Texas, at which the following was considered: PRESENT: Mayor Castleberry; Council Members Brock, Cott, Krueger, and Young. ABSENT: Mayor Pro Tem Biles and Council Member Miller 1. The Council received a report and held a discussion regarding tax abatement. Betty McKean, Executive Director for Municipal Services/Economic Development, provided an overview of the current policy on tax abatement and the PHH Fantus study. 2. The Council received a report and held a discussion regarding the economic development environment. Rick Svehla, Acting City Manager, discussed the "tool box" and other related economic development tools. 3. The Council received a report and hold a discussion regarding tax increment financing. Herb Prouty, City Attorney, discussed the application of tax increment financing (TIF) and the formula for stimulating economic development and public infrastructures. 4. The Council received a report and held a discussion regarding future meetings. Mayor Castleberry stated that the next joint meeting would be hosted by the City on April 10th at noon. With no further business, the meeting was adjourned at 8:15 p.m. DEPUTY CITY SECRETARY CITY OF DENTON, TEXAS BO~EBERRY, MAYORfOR/' CITY OF DENTON, TEXAS/ ~ / ACCO02F7