HomeMy WebLinkAboutOrdinances (O-98-1124)-11/04/1998
ORDINANCE 0-98-1124
AN ORDINANCE DESIGNATING A CERTAIN AREA AS TAX
INCREMENT FINANCING REINVESTMENT ZONE NUMBER
ONE, CITY OF COLLEYVILLE, TEXAS, ESTABLISHING A
BOARD OF DIRECTORS FOR SUCH REINVESTMENT
ZONE, AND OTHER MATTERS RELATING THERETO
WHEREAS, the City Council of the City of Colleyville, Texas, (the "City"), desires
to promote the development of a certain contiguous geographic area
(the SH 26 area) within its jurisdiction by the creation of a
reinvestment zone, as authorized by the Tax Increment Financing
Act, Chapter 311 of the Texas Tax Code, Vernon's Texas Codes
Annotated (the "Act"); and
WHEREAS, in compliance with the Act, the city has called a public hearing to hear
public comments on the creation of the proposed reinvestment zone
and its benefits to the City and the property in the proposed
reinvestment zone; and
WHEREAS, in compliance with the Act 1 notice of such public hearing was
published in the Fort Worth Star Telegram, a daily paper of general
circulation in the City, such publication date being not later than
seven (7) days prior to the date of the public hearing; and
WHEREAS, such hearing was convened at the time and place mentioned in the
published notice, to wit, on the 4th of November, 1998, at 7:30 o'clock
p.m., in the Council Chamber of the City of Colleyville, Texas, which
hearing was then closed; and
WHEREAS, the City, at such hearing, invited any interested person, or his
attorney, to appear and contend for or against the creation of the
reinvestment zone, the boundaries of the proposed reinvestment
zone, whether all or part of the territory which is described by the
metes and bounds description attached hereto as Exhibit "A" and
depicted in the map attached hereto as Exhibit "B" should be included
in such proposed reinvestment zone, the concept of tax increment
financing and the appointment of a board of directors for the
proposed reinvestment zone; and
WHEREAS, all owners of property located within the proposed reinvestment zone
and all other taxing units and other interested persons were given the
opportunity at such public hearing to protest the creation of the
proposed reinvestment zone and/or the inclusion of their property in
such reinvestment zone; and
Ordinance 0-98-1124
Page 2 of6
WHEREAS, the proponents of the reinvestment zone offered evidence, both oral
and documentary, in favor of all of the foregoing matters relating to
the creation of the reinvestment zone, and opponents, if any, of the
reinvestment zone appeared to contest creation of the reinvestment
zone.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF COLLEYVILLE, TEXAS:
Sec. 1:
THAT the facts and recitations contained in the preamble of this
ordinance are hereby found and declared to be true and correct.
Sec. 2:
THAT the City Council, after conducting such hearing and having
heard such evidence and testimony, has made the following findings
and determinations based on the evidence and testimony presented
to it:
(a) That the public hearing on adoption of the reinvestment zone
has been properly called, held and conducted and that notice
of such hearing has been published as required by law and
delivered to all taxing units overlapping the territory inside the
proposed reinvestment zone.
(b) That creation of the proposed reinvestment zone with
boundaries as described in Exhibits "A" and "8" will result in
benefits to the City, its residents and property owners, in
general, and to the property, residents and property owners
in the reinvestment zone.
(c) That the reinvestment zone, as defined in Exhibits "A" and "8",
meets the criteria for the creation of a reinvestment zone set
forth in the Act in that:
(1) It is a contiguous geographic area located wholly within
the corporate limits of the City.
(2) The area is predominately open and because of
obsolete platting and deterioration of structures or site
improvements, substantially impairs or arrests the
sound development and growth of the City.
Ordinance 0-98-1124
Page 3 of6
(d) That 10 percent or less of the property in the proposed
reinvestment zone, excluding property dedicated to public use,
is used for residential purposes, which is defined in the act as
any property occupied by a house which has less than five
living units.
(e) That the total appraised value of all taxable real property in the
proposed reinvestment zone according to the most recent
appraisal rolls of the City, together with the total appraised
value of taxable real property in all other existing reinvestment
zones within the City, according to the most recent appraisal
rolls of the City, does not exceed 15 percent of the current
total appraised value of taxable real property in the City and in
the industrial districts created by the City, if any.
(f) That the proposed reinvestment zone does not contain more
than 15 percent of the total appraised value of real property
taxable by a county or school district.
(g) That the improvements in the reinvestment zone will
significantly enhance the value of all taxable real property in
the reinvestment zone.
(h) That the development or redevelopment of the property in the
proposed reinvestment zone will not occur solely through
private investment in the reasonably foreseeable future,
Sec. 3:
THAT the City hereby creates a reinvestment zone over the area
described by the metes and bounds in Exhibit "A" attached hereto and
depicted in the map attached hereto in Exhibit "8" and such
reinvestment zone shall hereafter be identified as Tax Increment
Financing Reinvestment Zone Number One, CityofColleyville, Texas
(the "Zone" or Reinvestment Zone").
Sec. 4:
THAT there is hereby established a board of directors for the Zone
which shall consist of seven (7) members. The board of directors of
Tax Increment Financing Reinvestment Zone Number One shall be
appointed as follows:
Ordinance 0-98-1124
Page 4 of6
(a) Four members shall be appointed by the City Council, and
each of the governing bodies of the following taxing units
which levies taxes on real property in the Zone (Grapevine-
Colleyville Independent School District, Tarrant County,
Tarrant County Community College District), may each appoint
one (1) member to the board; provided, however, that if a
taxing unit waives its right to appoint a member of the board,
the City may appoint such board member instead. The initial
board of directors shall be appointed by resolution of the
governing bodies of the city and the taxing units as provided
herein within sixty (60) days of the passage of this ordinance
or within a reasonable time thereafter. All members appointed
to the board shall meet eligibility requirements as set forth in
the act.
(b) The terms of the board members shall be for two year terms.
The City Council shall designate a member of the board to
serve as chairman of the board of directors, and the board
shall elect from its members a vice chairman and other officers
as it sees fit.
(c) The board of directors shall make recommendations to the City
Council concerning the administration of the Zone. It shall
prepare and adopt a project plan and reinvestment zone
financing plan for the Zone and must submit such plans to the
City Council for its approval. The board of directors shall
possess all powers necessary to prepare, implement and
monitor such project plans for the reinvestment zone as the
City Council considers advisable, including the submission of
an annual report on the status of the Zone.
Sec. 5:
THAT the Zone shall take effect on January 1, 1999, and that the
termination of the Zone shall occur on December 31, 2018, or at an
earlier time designated by subsequent ordinance of the City Council
in the event the City determines that the Zone should be terminated
due to insufficient private investment, accelerated private investment
or other good cause, or at such time as all project costs and tax
increment bonds, if any, and the interest thereon, have been paid in
full.
Ordinance 0-98-1124
Page 5 of6
Sec. 6:
THAT the Tax Increment Base for the Zone which is the total
appraised value of all taxable real property located in the Zone, is to
be determined as of January 1, 1998, the year in which the Zone was
designated a reinvestment zone.
Sec. 7:
THAT there is hereby created and established a Tax Increment Fund
for the Zone which may be divided into such subaccounts as may be
authorized by subsequent resolution or ordinance, into which all Tax
Increments, less any of the amounts not required to be paid into the
Tax Increment Fund pursuant to the Act, are to be deposited. The
Tax Increment Fund and any subaccounts are to be maintained in an
account at the City Finance Director's affiliated depository bank of the
City and shall be secured in the manner prescribed by law of Texas
cities, In addition, all revenues from the sale of any tax increment
bonds and notes hereafter issued by the City, revenues from the sale
of any property acquired as part of the tax increment financing plan
and other revenues to be dedicated to and used in the Zone shall be
deposited into such fund or subaccount from which money will be
disbursed to pay project costs for the Zone or to satisfy the claims of
holders of tax increment bonds or notes issued for the Zone.
See.S:
THAT if any section, paragraph, clause or provision of this Ordinance
shall for any reason be held to be invalid or unenforceable, the
invalidity or unenforceability of such section, paragraph, clause or
provision shall not affect any of the remaining provisions of this
Ordinance.
Sec. 9:
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 IT IS SO ORDERED.
'20tb
day of
The first reading and public hearing being conducted on the
O~JDhQ r , 1998.
~7e second reading and public hearing being conducted on the J.j.'/!,
.Dl 0\1 tm1-t.r , 1998.
day of
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II Ordinance 0-98-1124
Page 6 of6
II
EST: J I
J n Harris, ~~
ity Secretary
CITY OF COLLEYVILLE:
Cf2LA (lV
F\ichard Newton
Mayor
S TO FORM AND LEGALITY:
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TIF District Boundary Survey:
P.O.B.
_ North-N.West corner of Hwy. 26 ROW contacting TR 6, A-591 (a 6.9
Ac. Tract) directly across from West side of Longwood Dr"
_ Continuing South across Hwy. 26 along the West side of Longwood Dr.
to the Northeast corner of tot 3, block 10, A-294 (Longwood Estates at
Ross Downs),
_ Continuing West along North boundary line of Ross Downs to the NW
corner of lot 6, block 9, A-294 (Longwood Estates at Ross Downs),
_ Continuing South along lot 6, block 9 (Longwood Estates of Ross
Downs), to North property line of TR 301, A-963 ,
_ Continuing West along Northern Boundaries of TR 301, 302 and 3D3,
A-963 , to the NW comer ofTR 303, A-963 ,
_ Continuing South along TR 3D3, A-963 , to the far SW corner of TR
3E3,A-963,
_ Continuing East along Southern boundaries of TR 3E3, 3E2 and 3E1,
A-963 , to the far NE corner of TR 3G, A-963 ,
_ Continuing South along Eastern boundaries of TR 3G, 3F and 3, A-
963, and the West boundary of lots 11 to 3, block 1 (Ross Downs
Estates), to the far SE corner of TR 3, A-963, and the NE corner of lot
27, block 12 (Ross Downs Estates),
_ Continuing West along the Southern boundary of TR3, A-963 , and
Northern boundary of Block 12 (Ross Downs Estates), turning SWat
lot 24 and South at lot 14 to the SW property comer of lot 14, block 12,
(Ross Downs Estates),
_ Continuing West along lot 12, block 12 (Ross Downs Estates), to the
far NW corner of said lot,
_ Continuing South along West boundary line of lots 12, block 12, to lot
1, block 12 and lots 1 R, btock 15 to lot 12, block 15 (Ross Downs
Estates),
_ Continuing West along the Northern boundary of Fair Havens Estates
to the far NW corner,
_ Continuing South along the Western boundary of Fair Havens Estates
to the far SW corner,
_ Continuing West along the Southern boundary of block 1, (Colleyville
Industrial Park) to the NE corner of TR 2B2, A-963
_ Continuing around the North, West and South boundaries of TR 2B2,
A-963 to the NE corner of Tinker's Crossing,
_ Continuing down the Eastern boundary of Tinker's Crossing and
Kathleen's Art Cafe Property to the South edge of ROW along Sanders
Rd.,
_ Continuing West along the South ROW of Sanders Ln. to the NE
corner of lot 1b, A-180, (Cotleyville Square),
_ Continuing South along eastern boundary of lots 1 band 1 c, A-180,
(Colleyville Square Phases I & II),
Exhbit A - Page 1 of 6
Ordinance 0-98-1124
- Continuing East along the Northern boundary of lot 1a2, A-180,
(Colleyville Shopping Village) to the NE comer of said addition and
South along the Eastern boundary line to the far SE comer of lot 1 a1 ,
A-180, (Colleyville Shopping Village),
_ Continuing East along Northern boundary of Bob Moore Sports Center,
down the Eastern border to the SE comer and West along the
Southern boundary to the far SW corner of TR 2A 1, A-180, (edge of
Hwy. 26 ROW),
- Continuing along the Western boundary of TR 2B1, A-180,
(Bluebonnet Hill Memorial Park) to the Edge of Hall Johnson Rd.
ROW,
_ Continuing East incorporating Hall Johnson ROW to Pool Rd. on both
North and South boundaries (incorporating additional ROW at the
intersection of Hall Johnson Rd. and Pool Rd. in the dimensions of 110
ft. wide by 500 ft, in depth, West of the intersection) to the East ROW
line of Blue Bonnet Drive,
_ Continuing South along Blue Bonnet Dr. ROW 434.74 ft. to the SW
comer of the U.S. Post Office Property continuing along the Southern
boundary of said property to the SE corner of said property continuing
East to the Western boundary line of block 1, (Montessori Addition),
_ Continuing South along the Western boundary of block 1, Montessori
Addition to the SW comer of said addition,
_ Continuing West along the Northern boundary of Kingswood Estates to
the edge of East ROW along Blue Bonnet Dr.,
_ Continuing South along East ROW of Blue Bonnet Dr. to the North
ROW line of Glade Rd. at the SE comer of TR 3, A-936,
_ Continuing West along Glade Rd. ROW to the SW corner of TR 4A,
A-936 ,
Continuing North along the Western boundary of TR 4A, A-936, to the
NW comer of said tract,
_ Continuing West along the Northern property line of Oak Knoll West to
the NE comer of lot 14, block 2, (Thompson Terrace),
_ Continuing South along the Eastern property lines of lots 14 to 1, block
2, (Thompson Terrace), to the SE comer of lot 1, block 2, (Thompson
Terrace) and Glade Rd. ROW,
_ Continuing West along Glade Rd. ROW to the SE comer of lot 17,
Block 1, (Thompson Terrace) and turning South crossing Glade to
comer of Village Park ROW,
_ Continuing along the NW ROW of Village Park down to the Glade
Creek Dr. intersection and crossing to the West ROW of Glade Creek,
_ Continuing South along Western ROW of Glade Creek Dr. and
crossing Centerpark to continue along the East boundary line of the
Centerpark Addition to the SE comer of the Centerpark Addition,
_ Continuing East along the Southern boundary of Lakewood Estates to
intersect the West ROW line of Bedford Rd.,
Exhbit A - Page 2 of 6
Ordinance 0-98-1124
_ Continuing South along the Western ROW line of Bedford Rd. to the
NE comer of lot 45, block 6 (Saddlebrook Addition),
_ Continuing West-Northwest along the Northern boundary line of the
Saddlebrook Addition to the NW corner of lot 11, block 6, of said
addition,
- Continuing South along the Western boundary line of Saddlebrook
Addition crossing Brown Trail ROWand continuing to the SE corner of
lot 1, block 1 (Brown Trail Commons West),
_ Continuing West along the Southern boundary of lot 1, block 1, (Brown
Trail Commons West) to the SW comer of said property,
_ Continuing NW along the northwestern boundary of same addition and
continuing along lot 2R2 of same addition to the ROW line of Hwy. 26,
_ Continuing South along Hwy. 26 ROW to Colleyville City Limits and
continuing North incorporating all of Hwy. 26 ROW to most southern
comer of lot 2, A-228 , (DOCS),
_ Continuing North along Western boundary of lot 2 (DOCS) to the NW
corner of lot 1 (DOCS) continuing across Mill Valley Dr. ROW onto the
West boundary line of lot 3, block 1, (Braumsllnland Addition), to the
NW comer of said addition,
_ Continuing West along Southern boundary of TR 2L, A-1248, to the
SW corner of said Tract,
_ Continuing North along Western boundary of TR 2L, A-1248, to the
NW comer of said Tract,
_ Continuing East along Northern boundary of said tract and TR 2K, A-
1248, to NE comer of said lot and the West ROW line of Bransford
Rd.,
_ Continuing North along the West ROW line of Bransford Rd. and
crossing East to the NW comer of the Kaybird Addition,
- Continuing East along the Northern boundary of the Kaybird Addition
to the NE comer of said addition and continuing along TR 1 A7, A-
1248, to the North comer of said Tract and the SW edge of Centerpark
Dr. ROW line,
_ Continuing NE across Centerpark Dr. ROW to the West corner of TR
1A7B, A-1248, (Bransford Rd. Addition),
_ Continuing NW along North ROW line of Centerpark Dr, to the corner
of lot 1 A, block 1, (Bransford Rd. Addition),
_ Continuing NE along NW boundary of lot 1A of said addition and
continuing along TR A, A-1248, and the Kaybird Addition to the most
North comer of said addition,
_ Continuing North along Bransford Elementary School Addition to the
NE corner of said addition,
_ Continuing North across Glade Rd. ROW to the North edge of the Row
line and continuing East along the ROW of Glade Rd. to the SW corner
of the Kroger Addition,
_ Continuing West along the Western boundary of the Kroger Addition to
the NW corner of said addition,
Exhbit A - Page 3 of 6
Ordinance 0-98-1124
_ Continuing North across Forest Oak Ln. ROW to TR-3, A-206, and
continue North along the Eastern boundary of City Park to the NW
comer of TR 3B1A, A-206,
_ Continuing East along the Northern boundary of TR 3S1A, A-206, to
the SW corner of TR 3A, A-206,
_ Continuing North along Western boundary of TR 3AI A-206 to the NW
corner of said Tract,
_ Continuing East along Northern boundary of TR 3A, A-206, to the SW
corner of lot 1, block 1 (Ratliff),
_ Continuing North along the Western boundary of lot 1, block 1 (Ratliff),
crossing Central Dr. ROW to the SW comer of lot 1, block 2 (Ratliff),
_ Continuing North along the Western boundary of lot 1, block 2 (Ratliff),
to the NW comer of said addition,
_ Continuing East along the Northern boundary of lot 1, block 2 (Ratliff),
to the NE corner of said addition,
_ Continuing South along the Eastern boundary of said addition along
the West ROW line of Pleasant Run Rd. to the SE corner of TR 3S1A,
A-206,
_ Continuing SE across Pleasant Run Rd. ROW to the NW corner of TR
1 A, A-936,
_ Continuing East along the Northern boundary of TR 1, A-936 to the SE
corner of lot G, (E.M, Thompson Subdivision),
_ Continuing North along the Eastern boundary of lot G, of said addition,
to the NW comer of lot F, of said addition,
_ Continuing East along the Northern boundary of lot F, of said addition,
to the NW comer of lot SR, of said addition,
_ Continuing East along the Northern boundary of lot BR, of said
addition, to the NE corner of lot SR, of said addition and the edge of
ROW line of Hwy. 26,
_ Continuing North along the West ROW line of Hwy. 26 to the South
corner of the Baylor Health Care Systems Addition,
_ Continuing NW along the Southern boundary said addition to the NW
corner of said addition,
_ Continuing East along the Northern boundary of said addition to the
SW corner of TR 1 F1, A-936,
_ Continuing North along the Western boundary of TR 1 F1. A-936, to the
NW comer of said Tract and the South ROW line of Church Street,
_ Continuing West along ROW line of Church St. to the NE corner of TR
1 C, A-936,
_ Continuing South along the Eastern boundary line TR 1 C, A-936, to
the SE corner of said addition,
_ Continuing West along the Southern boundary line to the NE corner of
lot 1, block 1 (HEC),
_ Continuing South along the Eastern boundary of said addition to the
SW corner of said addition,
Exhbit A - Page 4 of 6
Ordinance 0-98-1124
_ Continuing West along the Southern boundary of said addition to the
SW corner of said addition and the edge of ROW line for Pleasant Run
Rd.,
_ Continuing North along the Eastern ROW line of Pleasant Run Rd. to
the SW corner of the First United Methodist Church and the North
ROW line of Church St.,
_ Continuing East along the North ROW line of Church S1. to the SW
corner of the Towne Square Addition,
_ Continuing North along the Western boundary line of said addition to
the NW corner of said addition,
_ Continuing West along the Southern boundary of TR 1 EE, A-937 , to
the SW comer of said addition,
_ Continuing North along the Western boundary of said addition and TR
1 DO, A-937 , to the NW corner of TR 1 DO, A-937,
_ Continuing West along the South ROW line of Bogart Dr. continued to
Pleasant Run Rd. and crossing North and incorporating all of Bogart
Dr. ROW back to the SE corner of TR 1 K, A-937 (Colleyville
Elementary School),
_ Continuing North along Eastern boundary of Colleyville Elementary
School and the West ROW line of Hwy. 26 to the SE corner of TR 1 J,
A-937,
_ Continuing West along the Southern boundary of TR 1 J, A-937 , to the
SW corner of said addition,
_ Continuing North along the Western boundary of TR 1J, A-937 , to the
NW comer of said addition,
_ Continuing East along the Northern boundary of said addition to the
SW corner of lot 2, block 1 (Metrovest),
_ Continuing NE along the Western boundary of lot 1 and 2, block 1
(Metrovest), crossing Hardage Ln. to the SW corner of TR 2E, A-331 ,
_ Continuing North along the Western boundary of TR 2E and TR 2F, A-
321 to the NW comer of TR 2F,
_ Continuing East along the Northern boundary of said addition to the
SW corner of TR 2W1, A-180,
_ Continuing North along the Western boundary TR2W1, 2W2 and
TR2W, A-331 , to the NW corner of TR 2W, A-180, and to the South
edge of ROW line of Tinker Rd.,
_ Continuing East along the South ROW line of Tinker Rd. and crossing
North to the SE corner of lot 1, block 2 (Kingston),
_ Continuing North along the Eastern boundary of the Kingston Addition
to TR 2K, A-963, and continuing North along the Western boundary of
TR 2K, 2J, 2H and 2G, A-963 , to the NW comer of TR 2G, A-963 ,
_ Continuing East along the Northern boundary of TR 2G, A-963 , to the
NE corner of said Tract,
_ Continuing North along the Eastern boundary of TR 2F, A-963, and TR
2E, A-963 , to the NE corner of TR 2E, A-963 ,
Exhbit A - Page 5 of 6
Ordinance 0-98-1124
- Continuing West along the Northern boundary of said Tract to the NW
corner of said Tract,
- Continuing North along the Western boundary TR 4, A-963 to the NW
corner of said Tract and the South edge of the ROW line of St. Louis &
Southwestern Railroad,
- Continuing East along the Southern ROW line of the railroad to the
intersection of the railroad ROWand the South ROW line of John
McCain Rd.,
- Continuing West along the Southern ROW line of John McCain Rd. to
the NE corner of TR 3R1, A-432 ,
- Continuing West along the North ROW line of the railroad South of TR
3R1, 3R, 2R, 1 Rand 1, A-432 , to the SW corner of TR 1, A-432 ,
- Continuing North along the Western boundary of TR 1, A-432 , to the
NW comer of said Tract and the South ROW line for John McCain Rd.,
- Continuing East along the South ROW line of John McCain Rd. to the
NE corner of TR 3R1, A-432.
Continuing NE along the North ROW line of the railroad to the North
ROW line for John McCain Rd.,
- Continuing East along the North ROW line of John McCain Rd. to the
SW corner of TR 2A, A-432 ,
- Continuing NE along the Southern ROW line of the railroad to the
stated Point of Beginning.
Exhbit A - Page 6 of 6
Ordinance 0-98-1124
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