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Mueller Development: Budget & Bond Outlook

Tuesday, September 10, 2019 Mueller Local Government Corporation (MLGC) Board of Directors MLGC Meeting
  • Approved a $4.4 million budget for the Mueller development's operations for the upcoming fiscal year.
  • Reviewed the long-term financing for the Mueller project, noting its Tax Increment Finance (TIF) bonds are projected to be paid off by 2032.
  • Confirmed a new secretary and approved past meeting minutes for the Mueller local government corporation.

Full Transcript

Mueller Local Government Corporation Meeting Transcript – 9/10/2019 Title: City of Austin Channel: 6 - COAUS Recorded On: 9/10/2019 6:00:00 AM Original Air Date: 9/10/2019 Transcript Generated by SnapStream ================================== Now I'm going to convene the meeting past Mueller local government -- meeting of the Mueller local government meeting. The members here present at 301 west second street at the city council chambers here in Austin on September 10th, 2019. Do you want to take us through our agenda? >> Good afternoon, sylnovia holt-rabb with the economic [4:13:55 PM] development department. Chair Adler I bring to you three items for consent today. First item is appointment of the secretary of [indiscernible]. Approval two approval of the minutes from 2nd of 2018. And finally approval of the fiscal year 2019-20 budget of $4,458,040. >> Mayor Adler: Is there a motion to approve these items on the consent agenda? Councilmember Renteria makes the motion. Councilmember harper-madison seconds. Any discussion? >> Renteria: Mayor, I just want to ask a question. How many years do we have on that tif? >> The bonds -- the last of the bonds will be paid off in 2032, I believe. But I can get back with you. >> Renteria: Okay, thank you. >> Mayor Adler: Okay? It's been moved and seconded. No further discussion, let's take a vote. Those in favor please raise your hand. Those opposed? It's unanimous. Board approval. And here at 4:14 we are adjourning the meeting of [4:14:58 PM] the Mueller local government corporation.