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134. Regular Meeting August 9, 2004 Page 3 amount Stone Brook pays in City property taxes. Mr. O'Leary stated Stone Brook pays the City and the County each $25,000.00 to $30,000.00 and an School District is an estimated at $75,000.00 to $90,000.00. Mr. Taylor stated fairness between willow Springs and Stone Brook is the only reason he could see supporting this project. Mr. Taylor inquired whether Stone Brook would pay County and School District taxes. Mr. Mark Taylor stated he has been in contact with Jim Shaw, who reminded him Willow Springs was set up to have the P.I.L.O.T. paYments split pro rata. He also stated before Capital Area Housing Finance Corporation would agree to a P.I.L.O.T. with the citYi they would need to talk to the County and School District to get their of approval from both entities. Mr. O'Leary stated the proposed P.I.L.O.T. program agreement reads paYment in lieu of taxes to the City. Mayor Narvaiz inquired how the $25,000.00 would be divided. Mr. Mark Taylor stated the City and the County would each receive $5,000.00 and the School District would receive $15,000.00. Mr. Diaz stated he supports bringing this back as a Resolution. Mr. Mihalkanin stated he feels the P.I.L.O.T. program should come back as a Resolution. He also recommended that City Staff and Stone Brook consider plan B or C in case the Council votes disapproval of the P.I.L.O.T. program. Mr. Mihalkanin inquired if the Staff could investigate a possible senior development incentive. Mr. Guerrero stated he supports Mr. Mihalkanin's suggestions. Mr. Taylor inquired whether the P.I.L.O.T. has to be totally pro rata among all the taxing entities. Mr. Mark Taylor stated that legally it does not have to be pro rata, but Capital Area Housing Finance Corporation seems to have a policy requiring the taxing entities to partner together regarding paYment. The Council agreed by consensus for this project to come back to Council as a Resolution and to show the Council how this would impact the budget. Mayor Narvaiz introduced a discussion regarding improvements to Old Bastrop Road (County Road 266) and direction to Staff. Mayor Narvaiz stated a citizen has signed up to speak regarding this issue. 1) Winston Porterfield stated he represents Loomis Austin consulting firm. He stated he feels there are some concerns regarding improvements to accommodate a safe road. He stated the School District has budgeted one million dollars. He stated he is not sure if TxDot's funds will be available this year. Mr. O'Leary stated Council could direct Staff to use the $300,000.00 which was remaining from the Clovis Barker project. He stated after the amounts Hays County, SMCISD and TxDot has budgeted, there will still be a shortfall for the improvements. Mr. Porterfield stated he feels TxDOT will fund the traffic lights. Mr. Thomaides stated if the Council annexes this tract, then the City is responsible for ensuring a safe road. The Council agreed by consensus to bring this issue back as an action item. Mayor Narvaiz introduced a discussion and direction to Staff regarding proposed Hotel and Conference Center Development, including: A. Whether to issue Certificates of Obligation to provide funding for the Conference