HomeMy WebLinkAboutOrdinances (O-03-1402)-04/15/2003
ORDINANCE 0-03-1402
AN ORDINANCE AMENDING ORDINANCE 0-02-1324 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 April 1, 2003 approved the amended Tax Increment Financing (TIF)
District Project Plan; and
WHEREAS, the Project Plan is substantially consistent with the preliminary plan
developed by 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 RESOLVED BY THE CITY COUNCIL OF THE CITY OF
COLLEVILLE, 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 RESOLVED.
The first reading and public hearing being conducted on the / ~ day of
/J ~ 2003
, --
The second reading and public hearing being conducted on the /S ~
~2003.
day of
ATTES~~~
~ Single:o:' ~
City Secretary
Ordinance 0-03-1402
Page 2 of 2
. oster
City Attorney
Exhibit II A" Attachment 3
Colleyville TIF Project Plan
Total Non-TIF I 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.OW. 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 2,150,000 2,150,000
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, 250,000 250,000
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 1,595,000 1,595,000
Public Parking Structure 1,800,000 1,800,000
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 4,371,500 4,371,500
School Improvements 7,938,690 7,938,690
Professional services - engineering, planning, inspection, testing, etc. 650,000 650,000
TOT ALl 39,988,6901 4,660,0001 35,328,690
0-03-1402