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TIRZ No. 2 approves $339,508.06 tax-increment payment to Cleveland Municipal Utility District No. 1
Summary
The Tax Reinvestment Zone No. 2 board voted Feb. 26 to transfer $339,508.06 in tax-increment funds to Cleveland Municipal Utility District No. 1 under the agreed interlocal arrangement; the motion was made and passed by voice vote.
The Tax Reinvestment Zone No. 2 board in Cleveland, Texas, approved a $339,508.06 payment of tax-increment funds to Cleveland Municipal Utility District No. 1 at its Feb. 26 meeting.
Michael Price introduced agenda item 5, explaining this is the standard process to move funds collected through the tax increment to the utility district "in accordance with the agreement by and among the city of Cleveland, Texas, Reinvestment Zone Number 2, Cleveland, Texas, and Cleveland Municipal Utility District Number 1." Price stated, "This particular year, it's $339,508.06," and moved to approve the payment.
The motion was seconded (the transcript records the second as "Order burn second," which matches the presence and participation of Mike Arterburn at the meeting; the second has been recorded in this article as Mike Arterburn accordingly). The board approved the payment by a voice vote.
The action implements the board's annual transfer of increment funds to the district under the governing agreement. No public comment was recorded on the payment during the meeting.
Following the vote, the board concluded remaining business and adjourned.
