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Council approves first TIRZ #3 reimbursement agreement, with Rockrose Development, for $510,297
On October 26, 2023 the TIRZ #3 board voted to give Rockrose Development 80% of available tax increment for 10 years toward $510,297.33 in infrastructure (a cul-de-sac street, drainage channel and water main west of Coulter and north of Hollywood Road). Board member Matt Griffith, who presented the request for his company, abstained and left the room during the closed session. The council approved the agreement on a 5-0 consent agenda on November 14, 2023.[1][2]
Cole StanleyJosh CraftDon TippsTom ScherlenLes SimpsonMatt GriffithJimmy LackeyRockrose Development, LLC
What the sources say
- ✓ Verified
At the October 26, 2023 TIRZ #3 board meeting, board member Matt Griffith was excused from the closed session and, in open session, "explained that his company is seeking 100% reimbursement" for a drainage channel, water main and cul-de-sac street (Westover Village Unit 12) costing $510,297.33. The board voted to offer 80% of available tax increment for 10 years; the motion "passed unanimously, with Mr. Griffith abstaining." The chair said he wanted to discuss moving Griffith to the ex officio position. [1]
- Project cost
- $510,297
- Increment share
- 80%
- ✓ Verified
By August 22, 2024 the TIRZ #3 board minutes list Matt Griffith as a non-voting ex officio member. The 2026 amended agreement names Matt Griffith as Vice President of Rockrose Development, LLC, and the City's TIRZ #3 page lists Matt Griffith among current board members appointed by the City. [3][4][5]
- ✓ Verified
On November 14, 2023 the council's consent agenda, approved 5-0 (Cole Stanley, Josh Craft, Don Tipps, Tom Scherlen and Les Simpson), included the TIRZ #3 developer agreement with Rockrose Development, LLC for reimbursement of $510,297.33, at a maximum of 80% of available funds over 10 years. [2]
