Staff proposes that the Schertz Tax Increment Reinvestment Zone No. 2 board authorize $19,822,547.19 in Crossvine expenditures as eligible for reimbursement at its Oct. 13 meeting.
The item concerns which submitted costs qualify under the development agreement. It does not itself schedule a cash payment. The board’s action is still ahead; the amount and the agreement cap are set out in the city’s item information for the proposal.
For residents, the proposed authorization would bring the developer’s eligible reimbursement total to the agreement’s $66 million cap, while the posted financial report shows far less has actually been disbursed. Eligibility, requests for payment and money already paid are different figures in these records. Reading them together helps residents assess the scale of the proposed authorization without mistaking it for an Oct. 13 payment.
What staff wants authorized
The item memo lists invoices 9 through 12 from the Crossvine developer at $28,995,377.35 in submitted expenditures. Staff recommends authorizing $19,822,547.19 of those expenditures as eligible for reimbursement. The memo identifies $9,172,830.19 of the submitted amount as above the agreement cap. These are staff’s posted figures, not a board decision. The invoice summary separately identifies the over-cap portion with invoice 12; its retained text does not establish readable costs for each invoice component.
| Measure | Posted amount |
|---|---|
| Invoices 9–12 submitted | $28,995,377.35 |
| Additional expenses staff recommends authorizing | $19,822,547.19 |
| Amount memo identifies as over the agreement cap | $9,172,830.19 |
| Agreement cap | $66,000,000.00 |
Figures are transcribed from the item memo and invoice summary. They describe a proposal, not an Oct. 13 approval; the posted figures are not reconciled here.