HomeMy WebLinkAboutOrdinances (O-02-1324)-02/19/2002
ORDINANCE 0-02-1324
AN ORDINANCE AMENDING ORDINANCE 0-98-1132 AND APPROVING THE
AMENDED TAX INCREMENT FINANCING (TIF) DISTRICT PROJECT PLAN,
EXHIBIT "A", ATTACHMENT 3 AND PROVIDING FOR AN EFFECTIVE DATE
WHEREAS, the Board of Directors of the Tax Increment Financing (TIF)
Reinvestment Zone Number One, City of Colleyville, Texas (the
"Board") on January 22,2002, approved the amended Tax Increment
Financing (TIF) District Project Plan; and
WHEREAS, the Project Plan is substantially consistent with the preliminary plan
developed for the Zone, prior to the Zone's creation; and
WHEREAS, the Board has respectfully advised and recommended approval of the
amended Tax Increment Financing (TIF) District Project Plan;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
COLLEYVILLE, TEXAS:
Sec. 1.
THAT in accordance with the Act, the City Council hereby approves
the amended Tax Increment Financing (TIF) District Project Plan
attached hereto as Exhibit "A", Attachment 3.
Sec. 2.
THAT this Ordinance shall take effect immediately from and after its
passage and publication in accordance with the provisions of the
Charter of the City of Colleyville and the Property Tax Code.
AND IT IS SO ORDERED.
The first reading and public hearing being conducted on the
2002.
3>>)
day of
/ 9 ~ day of
APPROVED AS TO FORM AND LEGALITY:
+~
Ross Foster
City Attorney
Ordinance 0-02-1324
Page 2 of 2
CITY OF COLLEYVILLE:
D~~
Mayor
Total Non-TIF TIF
Project Cost Cost Cost
S. H. 26 improvements - raised medians, curb and gutter, drainage, street lighting, 6,350,000 1,500,000 4,850,000
landscaping, traffic signals, water and sanitary sewer
Hall-Johnson Road improvements - roadway construction, R.O.w. acquisition, drainage, 3,300,000 1,400,000 1,900,000
utility adjustments, landscaping, etc.
Main Street improvements - paving, drainage, utilities, traffic signal, signage, street 700,000 700,000
lighting, landscaping, etc.
Church Street improvements - paving, drainage, utilities, traffic signal, signage, street 1,100,000 1,100,000
lighting, landscaping, etc.
Downtown Area improvements - streets, land, public parking, bridge work, sidewalks, 2,200,000 2,200,000
planning and engineering, etc.
Riverwalk Drive improvements - paving, drainage, utilities, signage, street lighting, 1,200,000 1,200,000
landscaping, etc.
Bluebonnet Drive improvements - paving, drainage, utilities, signage, street lighting, 750,000 80,000 670,000
landscaping, etc.
Bogart Road improvements - paving, drainage, utilities, signage, street lighting, 780,000 180,000 600,000
landscaping, etc.
Tinker/Sanders Intersection improvements - paving, drainage, utility adjustments, signage, 220,000 220,000
street lighting, traffic signal, landscaping, etc.
City Hall 3,500,000 3,500,000
Plaza 2,734,360 2,734,360
Public Parking Structure 2,120,960 2,120,960
Storm Water Detention 200,000 200,000
Library 1,740,000 1,500,000 240,000
Fire Station 867,500 867,500
John McCain Road 626,000 626,000
Public Parking Lots, Land and Engineering 3,011,180 3,011,180
School Improvements 7,938,690 7,938,690
Professional services - engineering, planning, inspection, testing, etc. 650,000 650,000
TOTAL 39,988,690 4,660,000 35,328,690
Colleyville TIF
Project Plan
Exhibit A
Attachment 3
0-02-1324