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Argyle MDD approves consent minutes and two economic-assistance reimbursements totaling $350,000
Summary
During the Sept. 2 open session the Municipal Development District approved the consent agenda minutes and two economic-assistance reimbursements: a $300,000 reimbursement for the Argyle Marketplace as part of a wider development agreement, and a $50,000 reimbursement for Argyle Party and Gift; chair recused himself on the two assistance items.
After returning from executive session on Sept. 2 the Municipal Development District of Argyle took three recorded actions in open session.
First, the board approved the consent agenda item to adopt the minutes of the Aug. 5 meeting. The motion and second were made from the floor; no individual names were recorded in the transcript and the item passed on a voice vote.
Second, the board approved an economic-assistance reimbursement of $300,000 for the Argyle Marketplace. Town management summarized the executive-session discussion and recommended the board move forward with an incentive of $300,000 as part of a larger development agreement that would include an exhibit documenting public-infrastructure costs, reporting requirements and the chairman's signature on the final agreement. A board member moved to approve the item as stated by the town manager, a second followed and the motion passed on a voice vote. The chairman had indicated earlier that he would recuse himself from matters related to the Argyle Marketplace.
Third, the board approved an economic-assistance reimbursement of $50,000 for Argyle Party and Gift. Management reported the application met conditions discussed in executive session, including a 36-month lease requirement and additional work to preserve the building exterior that raised rehabilitation costs. The board voted to approve the $50,000 reimbursement and directed staff to prepare a development/agreement document for the board's review at a subsequent meeting. The chairman had said earlier he would recuse himself for matters involving Argyle Party and Gift.
All three motions passed by voice vote; the transcript records only vocal aye/nay responses and does not supply a roll-call vote or member-level tallies. Staff indicated they would return with formal agreements or documents reflecting the conditions and reporting requirements discussed in executive session before any funds are disbursed.
