HomeMy WebLinkAboutCity Council Resolutions (R-03-2137)-04/15/2003
RESOLUTION R-03-2137
A RESOLUTION APPROVING A TAX INCREMENT FINANCING AGREEMENT FOR
REDEVELOPMENT SITE NO. 2 BETWEEN THE CITY OF COLLEYVILLE AND
MELVIN & MARTINDALE, LTD., (TOWN CENTER DEVELOPMENT)
WHEREAS, the City of Colleyville has established a tax increment financing district in
cooperation with other area taxing entities; and
WHEREAS, Melvin & Martindale, L TO" has proposed a retail-commercial
development that will expand the retail-commercial and sales tax base of
the district in keeping with the intent of the creation of the district; and
WHEREAS, Melvin & Martindale, LTD., has requested that the City reimburse Melvin
& Martindale, LTD., for a portion of the cost of public improvements being
made to its property within the district; and
WHEREAS, the public improvements are contained in the Tax Increment District
Project Plan; and
WHEREAS, these reimbursements will only be made after a sufficient increase in the
real property ad valorem tax base is in place as verified by the Tarrant
Appraisal District and Melvin & Martindale, LTD., has provided
documentation of costs incurred.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
COLLEYVILLE, TEXAS:
Sec, 1,
THAT the Tax Increment Financing Agreement for Redevelopment Site No.
2 between the City of Colleyville and Melvin & Martindale, L TO" hereby
attached as Exhibit "A" is hereby approved and the Mayor is authorized to
sign the agreement.
Sec. 2.
THAT this Resolution shall be conditioned on passage and acceptance of
Resolution R-03-2138 by Melvin & Martindale, L TO.
AND IT IS SO ORDERED.
PASSED BY A VOTE OF ..s A YE~, 0 NAYS AND 0 ABSTENTIONS ON
THISTHE~ DAY OF ~ 2003.
ATTEST:
!jf1Y4\2JfJ~
Cynthia Singleton, TRMC
City Secretary
Resolution R-03-2137
Page 2 of 2
CITY OF COLLEYVILLE
t~
Mayor
Exhibit "A"
AGREEMENT FOR REDEVELOPMENT SITE NO.2
This Agreement for Redevelopment Site No.2 ("Agreement"), is made and entered into
tiv ~
this the dq day of ,2003, by and between THE CITY OF
COLLEYVll...LE, TEXAS, a home-rule municipality located in Tarrant County, Texas ("City"),
and MELVIN & MARTINDALE, LTD., a Texas limited partnership ("Developer"). The City
and the Developer are sometimes hereinafter referred to individually as a "Party" and collectively
as the "Parties."
Recitals
WHEREAS, the City has the authority to adopt tax increment financing pursuant to the
Tax Increment Financing Act, V.T.C.A., Tax Code, Section 311.001, et seq., as amended (the
"Act"), for areas within its jurisdiction designated by the City as reinvestment zones pursuant to
the Act, and to implement other economic development or financing programs pursuant to
Chapter 380 of the Local Government Code and other statutes under the City's home-rule power;
and
WHEREAS, the City has authorized the preparation of a preliminary project plan and
preliminary reinvestment zone financing plan for the area located in the City and described and
depicted on Exhibits A-I, and A-2 attached hereto and made a.part hereof (the "Reinvestment
Zone"); and
WHEREAS, in accordance with the Act, the City, after giving all notices required by law,
conducted a public hearing with respect to the creation of a Reinvestment Zone and its benefits to
the City and to the property within the proposed Reinvestment Zone; and
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WHEREAS, the City, after giving and publishing all notices required by law and after
conducting all public hearings required by law, and after making all presentations to, and
conducting all meetings with and obtaining all necessary approvals from, each taxing unit that
levies taxes on real property in the Reinvestment Zone as required by the Act, adopted an
ordinance which, among other things, designated the property within the Reinvestment Zone as
the "Tax Increment Financing Reinvestment Zone #1, City of Colleyville, Texas"; and
WHEREAS, in accordance with the Act, the Board of Directors of the Reinvestment
Zone has prepared and approved by Resolution R-03-03 a project plan and a reinvestment zone
financing plan, (collectively "Plans"), which have also been approved by each taxing unit as of
the Effective Date, and the City, in accordance with the Act and after making all findings
required by the Act, has adopted Ordinance 0-03-1402 approving the Plans~ and
WHEREAS, the Developer is the owner and developer of a 54 acre parcel of real property
within the City and within the Reinvestment Zone located generally at the intersection of
Colleyville Boulevard and Hall-Johnson Road, and legally described in Exhibit "B" attached
hereto (the "Property"), which Property shall also be known as Redevelopment Site No.2 in the
Reinvestment Zone; and
WHEREAS, the Developer currently intends to develop and improve all or a portion of
the Property for commercial development, primarily retail, office and entertainment (cinemas
with no more than six screens) (generally referred to herein as the "Project"), in various phases,
in substantial conformance with the plan attached hereto as Exhibit "c" (the "Concept Plan"),
and in accordance with the requirements of the City of Colleyville zoning ordinance and other
ordinances of the City; and
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WHEREAS, to facilitate the development of the Property, and subject to and in
accordance with the terms of this Agreement and the limitations hereinafter stated, the City has
agreed to use proceeds from the City's implementation of economic development and financing
programs authorized by statute or the home-rule powers of the City to pay the project costs (as
defined in Section 311.002( 1) of the Act as now or hereinafter provided), in connection with the
installation and completion of various public improvements listed on Exhibit "D" (collectively
the "Public Improvements"), including the reimbursement of the Developer for project costs
incurred by the Developer in connection with the redevelopment (including, without limitation,
demolition, site preparation, installation of utilities, construction of Public Improvements, land
costs, etc.), of the Property; and
WHEREAS, this Agreement has been submitted to the City and the Developer for
consideration and review, and the City and the Developer have taken all actions required to be
taken prior to the execution of this Agreement in order to make same binding upon the City and
the Developer according to the terms hereof; and
WHEREAS, the City, after due and careful consideration, has concluded that the
redevelopment of the Property as a portion of the Reinvestment Zone, as provided for herein, and
in the Plans, will further the growth of the City, facilitate the redevelopment of the entire
Reinvestment Zone, improve the environment of the City, increase the assessed valuation of the
real estate situated within the City, foster increased economic activity within the City, increase
employment opportunities within the City, upgrade public infrastructure within the Reinvestment
Zone, and otherwise be in the best interest of the City by furthering the health, safety, morals, and
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welfare of its residents and tax payers, and that entering into this Agreement is necessary and
convenient to implement the Plans and achieve their purposes; and
WHEREAS, the City is desirous of having the Developer undertake the Project in order
to serve the needs of the City and in order to produce increased tax revenues for the various
taxing units authorized to levy taxes on real property within the Reinvestment Zone and the City
and, in order to stimulate and induce the redevelopment of the Reinvestment Zone, the City has
agreed to pay certain Project costs through property tax increment revenues, all in accordance
with the terms and provisions of the Act and this Agreement.
NOW, THEREFORE, for and in consideration of the foregoing and of the mutual
covenants and agreements contained herein, and other good and valuable consideration, the
receipt and sufficiency of which is hereby acknowledged, the Parties do hereby agree as follows:
Recitals Part of the Agreement
1. Incorporation of Recitals. The representations, covenants and recitations
set forth in the foregoing recitals are material to this Agreement and are hereby incorporated and
made part of this Agreement as though they were fully set forth herein.
Mutual Assistance
2. Cooperation. The Parties agree to take such actions, inc1udingthe
execution and delivery of such documents, instruments, petitions and certifications (and, in the
City's case, the adoption of such ordinances and resolutions), as may be necessary or appropriate,
from time to time, to carry out the terms, provisions, and intent of this Agreement and to aid and
assist each other in carrying out said terms, provisions and intent.
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Effectiveness of Agreement
3. Effective Date. This Agreement shall become effective from and after its
approval and execution by both Parties.
Redevelopment and Use of the Property and
Construction of the Public Improvements
4.1 The Proiect. Developer and/or assigns shall construct or cause the Project
to be constructed in substantial conformance with the Concept Plan. The Project may be
constructed in phases at Developer's sole discretion; provided that the Developer shall comply
with all applicable ordinances of the City, including, without limitation, the zoning ordinances
governing the Project.
4.2 Public Improvements. The Developer and/or assigns shall construct or
cause to be constructed the Public Improvements and pay the cost of such construction. In
constructing the Public Improvements, the Developer shall comply with all requirements and
take all action necessary to insure the cost of the Public Improvements are project costs
reimbursable under the Act. The City shall cooperate with the Developer to insure all costs of
the Public Improvements are reimbursable under the Act. To the extent that any of the Public
Improvements to be constructed by the Developer are located on City owned rights-of-way or
easements, the City shall grant to the Developer and its designees access to enable construction
of the Public Improvements.
4.3 City Approval. Prior to the commencement of the construction, the
Developer shall submit to the City and obtain the approval of the City of the plans for the Public
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Improvements and shall construct the Public Improvements in conformity with the plans
approved by the City.
Reimbursement of Eligible Project Costs
5.1 Definitions.
(a) Proiect Costs. For the purposes of this Agreement, "Project Costs"
shall mean and include all costs defined as Project Costs in Section 311.002(1) of the Act as now
or hereinafter provided.
(b) Increased Ad Valorem Tax Attributable to the Proiect. For the purpose
of this Agreement, "Increased Ad Valorem Tax Attributable to the Project" shall mean the
amount calculated by deducting the certified taxable value of the Property for the purpose of ad
valorem taxes on January 1,2001, from the certified taxable value of the Property for the purpose
of ad valorem taxes on January 1,2003 and each subsequent year, and multiplying that amount
by the combined real property tax rate established by the City of Colleyville, Tarrant County,
Tarrant County Hospital District, and Tarrant County Community College District for the
applicable Tax Year.
(c) Increased GCISD Ad Valorem Tax Attributable to the Proiect. For the
purpose of this Agreement, "Increased GCISD Ad Valorem Tax Attributable to the Project" shall
mean the amount calculated by deducting the certified taxable value of the Property for the
purpose of ad valorem taxes on January 1,2001, from the certified taxable value of the Property
for the purpose of ad valorem taxes on January 1,2003 and each subsequent year, and
multiplying that amount by the real property tax rate established by the Grapevine-Colleyville
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Independent School District (flGCISD") for the applicable Tax Year for the payment of GCISD
maintenance and operations.
(c) Tax Collection Period. As used in this Agreement the term "Tax
Collection Period" means October 1 to September 30 of each year.
5.2 Reimbursement Payments. The City shall reimburse the Developer for
Project Costs actually paid by the Developer in the construction of the Public Improvements,
subject to the following conditions and limitations:
(a) All reimbursements payments shall be limited to and shall be made
from the taxes levied and collected on the Property during each Tax Collection Period beginning
on October 1, 2003 and deposited to the tax increment fund established pursuant to Section
311. 014 of the Act.
(b) The total reimbursement payments to the Developer shall not exceed
$2,582,500.00.
(c) All reimbursement payments made from the tax increment fund for
Public Improvements, shall be conditioned upon the Developer providing adequate assurances, as
determined in the reasonable discretion of the City, that the City shall not be required to maintain
the Public Improvements excluding Church Street. The City and Developer shall maintain
liability insurance in the amount of $2,000,000 in the aggregate naming the other Party as an
additional insured to protect the City and Developer from claims arising from the operation and
maintenance of the Public Improvements, excluding Church Street; provided the City's
obligation shall be contingent on the City's liability insurer for the public improvements allowing
the developer be named as an additional insured on the City's policy at no cost to the City. On or
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before January 1 of each year each Party shall provide written evidence of the liability insurance
being in full force and effect for that year.
(d) All reimbursement payments made from the tax increment fund shall
be conditioned upon the City receiving adequate assurances, as determined in the discretion of
the City, that the City shall have the right of first refusal with such provisions as are satisfactory
to the City to purchase any land and improvements on the Property which is now or hereinafter
owned by Lifetime Fitness. Such right of first refusal shall be applicable only in the event a tax
exempt entity desires to purchase and use any land and improvements on the Property, which is
nor or hereinafter owned by Lifetime Fitness. In the event the right of first refusal is triggered
then within thirty (30) days receipt of a written offer, which shall include a copy of the contract
setting forth the terms and condition to the City Manager of the intent to sell the land and
improvement on Property, which is now or hereafter owned by Lifetime Fitness, the City shall:
(i) enter into a Letter of Intent with the Seller;
(ii) proceed to issue debt in accordance with the provisions of
Texas law, not to exceed 120 days from date ofreceipt of
any written offer; and
(iii) closing shall take place within 120 days of receipt of the
written offer.
(e) Subject to Subsection 5.2(b) above, reimbursement payments to the
Developer shall be paid from the following sources:
(i) Seventy-Four Percent (74%) of the Increased GCISD Ad
Valorem Tax Attributable to the Project. The City's obligation to pay any amount calculated
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upon a percentage of the Increased GCISD Ad Valorem Tax Attributable to the Project is
expressly conditioned upon the GCISD participating in the Tax Increment Financing District
established by the City pursuant to the Act, and Reimbursement Payments to the Developer
based upon the Increased GCISD Ad Valorem Tax Attributable to the Project shall never exceed
the amount actually received by the City as a result of the participation of the
Grapevine-Colleyville Independent School District in the Tax Increment Financing District
established by the Act and applicable to the Project (provided however, if for any reason the
GCISD does not participate, Developer shall be reimbursed in full for the Public Improvements
pursuant to Section 5.2(e)(ii) below); plus
(ii) One hundred percent (100%) of the Increased Ad Valorem Tax
Attributable to the Project.
(f) The Developer shall only be entitled to reimbursement for the
construction of a Public Improvement that has been completed. The Public Improvement shall
be deemed completed when the City certifies that the improvement is completed. The Developer
may request a certification of completion from the City for each Public Improvement. The City
shall, within 30 days after the date of said request, either issue a certificate of completion for the
Public Improvement or identify in writing the reasons the certificate of completion has been
withheld.
(g) The City shall deposit into a fund the Increased GCISD Ad Valorem
Tax Attributable to the Project and the Increased Ad Valorem Tax Attributable to the Project
collected for each Tax Collection Period beginning October I, 2003, until the termination of this
Agreement, not otherwise paid to the Developer under Section 5.2 hereof (the "City's Retained
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Tax Fund"). The City's Retained Tax Fund shall be used by the City to make payments to the
Developer called for in paragraphs 5.2(e)(i) and (ii) hereof.
5.3 Date of Reimbursement, Payments and Termination.
(a) The City shall make the first payment of accrued Reimbursement
Payments to the Developer on July 1,2004. Additional accrued Reimbursement Payments shall
be made to the Developer annually on the same day in each successive year until repayment of
Developer is made in full at which time this Agreement shall terminate.
(b) The City shall have the option of terminating this Agreement, in its
sole discretion, if a permit for the construction of a motion picture theater containing more than
six (6) screens is issued or if such a theater is constructed.
Warranties
6.1 Authority.
(a) The City hereby represents and warrants to Developer that the City has
full constitutional and lawful right, power and authority, under currently applicable law, to
execute and deliver and perform the terms and obligations of this Agreement, and all of the
foregoing have been or will be duly and validly authorized and approved by all necessary City
proceedings, findings and actions. Accordingly, this Agreement constitutes the legal, valid and
binding obligation of the City, is enforceable in accordance with its terms and provisions and
does not require the consent of any other governmental authority.
(b) Developer hereby represents and warrants to the City that Developer
has full lawful right, power and authority to execute and deliver and perform the terms and
obligations of this Agreement and all of the foregoing have been or will be duly and validly
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authorized and approved by all necessary actions of Developer. Concurrently with Developer's
execution of this Agreement, Developer has delivered to the City copies of the resolutions or
other corporate actions authorizing the execution of this Agreement and evidencing the authority
of the persons signing this Agreement on behalf of Developer to do so. Accordingly, this
Agreement constitutes the legal, valid and binding obligation of Developer, and is enforceable in
accordance with its terms and provisions.
6.2 Authorized Parties. Whenever under the provisions of this Agreement and
other related documents and instruments or any supplemental agreements, any request, demand,
approval, notice or consent of the City or Developer is required, or the City or Developer is
required to agree or to take some action at the request of the other, such request, demand,
approval, notice or consent, or agreement shall be given for the City, unless otherwise provided
herein, by the City Mayor or his designee and for Developer by any officer of Developer so
authorized (and, in any event, the officers executing this Agreement are so authorized); and any
Party shall be authorized to act on any such request, demand, approval, notice or consent, or
agreement.
Miscellaneous
7.1 Time of Essence. Time is of the essence of this Agreement. The Parties
will make every reasonable effort to expedite the subject matters hereof and acknowledge that the
successful performance of this Agreement requires their continued cooperation. All dates and
time periods provided for in this Agreement shall be delayed during any pending or threatened
litigation that would affect the ability of the City to reimburse the Developer from the Tax
Increment Fund as provided in Section 311.014 of the Act.
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7.2 Default.
(a) A Party shall be deemed in default under this Agreement (which shall
be deemed a breach hereunder) if such Party fails to materially perform, observe or comply with
any of its covenants, agreements or obligations hereunder or breaches or violates any of its
representations contained in this Agreement.
(b) Before any failure of any Party to this Agreement to perform its
obligations under this Agreement shall be deemed to be a breach of this Agreement, the Party
claiming such failure shall notify, in writing, the Party alleged to have failed to perform of the
alleged failure and shall demand performance. No breach of this Agreement may be found to
have occurred if performance has commenced to the reasonable satisfaction of the complaining
Party within thirty (30) days of the receipt of such notice, subject, however, to the terms and
provisions of Section 5.2(f). Upon a breach of this Agreement, the non-defaulting Party, in any
court of competent jurisdiction, by an action or proceeding at law or in equity, may secure the
specific performance of the covenants and agreements herein contained, may be awarded
damages for failure of performance, or both. No action taken by a Party pursuant to the
provisions of this Agreement shall be deemed to constitute an election of remedies and all
remedies set forth in this Agreement shall be cumulative and non-exclusive of any other remedy
Q
either set forth herein or available to any Party at law or in equity. Each of the Parties shall have
the affirmative obligation to mitigate its damages in the event of a default by the other Party.
7.3 Amendment. This Agreement, and any exhibits attached hereto, may be
amended only by the mutual agreement of the Parties evidenced by a written amendment, by the
adoption of an ordinance or resolution of the City approving such written amendment, as
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provided by law, and by the execution of such written amendment by the Parties or their
successors in interest.
7.4 Entire Agreement. This Agreement (including all Exhibits attached to this
Agreement) sets forth all agreements, understandings and covenants between and among the
Parties relative to the matters herein contained. This Agreement supersedes all prior agreements,
negotiations and understandings, written and oral, and shall be deemed full integration of the
entire agreement of the Parties.
7.5 Severability. If any provision, covenant, agreement or portion of this
Agreement, or its application to any person, entity or property, is held invalid, such invalidity
shall not affect the application or validity of any other provisions, covenants, agreements or
portions of this Agreement and, to that end, all provisions, covenants, agreements or portions of
this Agreement are declared to be severable, and it is the intention of the Parties that in lieu of
each provision that is found to be illegal, invalid or unenforceable, a provision be added to this
Agreement which is legal, valid and enforceable and accomplishes the intent of the Parties as
evidenced by this Agreement..
7.6 Texas Law. This Agreement shall be construed in accordance with the
laws of the State of Texas, and any actions concerning this Agreement shall be brought in either
the Texas State District Courts of Tarrant County, Texas or the United States District Court for
the Northern District of Texas.
7.7 Notice. Any notice to be given or served hereunder or under any
document or instrument executed pursuant hereto shall be in writing and shall be (i) delivered
personally, with a receipt requested therefor; or (ii) sent by telecopy facsimile; or (iii) sent by a
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nationally recognized overnight courier service; or (iv) delivered by United States registered or
certified mail, return receipt requested, postage prepaid. All notices shall be addressed to the
Parties at their respective addresses set forth below, and shall be effective (a) upon receipt or
refusal if delivered personally or by telecopy facsimile; (b) one (1) business day after depositing
with such an overnight courier service; or (c) two (2) business days after deposit in the United
States mails, if mailed. A party may change its address for receipt of notices by service of a
notice of such change. All notices by telecopy facsimile shall be subsequently confirmed by U.S.
certified or registered mail, return receipt requested.
If to the City:
with a copy to:
If to Developer:
with a copy to:
City of Colleyville
401 Oak Valley Drive
Colleyville, Texas 76034
Attn: City Manager
Fax Number: (817) 577-7555
Ross T. Foster
ROSS T. FOSTER, P.c.
9001 Airport Freeway, Suite 675
Fort Worth, Texas 76180
Fax Number: (817) 485-2836
Melvin & Martindale, Ltd.
c/o Robert M. Farrell
R.M. Farrell, Inc.
8235 Douglas, Suite 950
Dallas, Texas 75225
Fax Number: (214) 360-1716
Barry R. Knight
Winstead Sechrest & Minick P.C.
1201 Elm Street, Suite 5400
Dallas, Texas 75270
Fax Number: (214) 745-5390
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7.8 Counterparts. This Agreement may be executed in several counterparts,
each of which shall be an original and all of which shall constitute but one and the same
agreement.
7.9 No Recordation. The Parties agree that this Agreement may not and shall
not be recorded without the prior written consent of Developer.
7.10 Consent or Approval. Except as otherwise provided in this Agreement,
whenever consent or approval of either Party is required, such consent or approval shall not be
unreasonably withheld.
7.11 Interpretation. This Agreement has been jointly negotiated by the Parties
and shall not be construed against a Party because that Party may have primarily assumed
responsibility for the drafting of this Agreement.
7.12 Exhibits. All exhibits attached hereto are declared to be a part of this
Agreement and are incorporated herein by this reference.
7.13 Assignability. The rights and obligations of Developer hereunder may be
assigned in whole or in part at any time by Developer to an affiliated entity owned in whole or in
part by Developer, Life Time Fitness, Inc., or a property owners' association formed for the
purpose of operating and maintaining the Public Improvements without consent of the City, and
to others only with the City's consent which consent shall not be unreasonably withheld or
delayed.
7.14 No Third Party Beneficiary. The rights and/or privileges under this
Agreement are solely for the parties to this Agreement. The parties do not intend that any third
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party be a beneficiary of this contract. No third party shall have a right or cause of action arising
out of the execution of this Agreement or its breach.
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IN WITNESS WHEREOF, the Parties have duly executed this Agreement pursuant to all
requisite authorizations as of the date first above written.
CITY
By:
ATTEST:
o/?
Cynthia Singleton, City Secretary
APPROVED AS TO FORM:
r1
Ross T. oster, City Attorney
DEVELOPER
MELVIN & MARTINDALE, LTD.,
A Texas limited partnership
By: R.M. Farrell, Inc.,
a Texas corporation, general partner
By:
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Exhibit II A-l" Attachment 3
Colleyville TIF Project Plan
Total I 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
TOTALI 39,988,690 I 4,660,0001 35,328,690
0-03-1402
Exhibit" A-2"
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Exhibit "B"
The Town Center Colleyville development contains 54.25 acres of land, located
in the J. M. Looney Survey, Abstract 936 and the Nancy B. Looney Survey,
Abstract 937. The property has been platted into nine commercially zoned lots
(CC2-Shopping Center District). The following are the current (March 12, 2003)
legal descriptions for the lots in this development:
Lot 1 R, Block 1, Town Center Colleyville
Lot 2R, Block 1, Town Center Colleyville
Lot 3R1, Block 1, Town Center Colleyville
Lot 3R2, Block 1, Town Center Colleyville
Lot 4, Block 1, Town Center Colleyville
Lot 1 R, Block 2, Town Center Colleyville
Lot 2, Block 2, Town Center Colleyville
Lot 3, Block 2, Town Center Colleyville
Lot 1, Block 3, Town Center Colleyville
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EXHIBIT "0"
PUBLIC IMPROVEMENTS
Proiect Items:
Church Street
· Engineering Plans and Testing
· Surveying and Construction Staking
. Land Purchase for ROW
· Excavation, Clearing, Grading, Erosion Control
· Water, Sanitary Sewer, and Storm Water Drainage System
· Public Streets, Alleys, Sidewalks, and Trails
· Street-traffic Control Signage
· Decorative Street Lights
· Enhanced Landscaping (both hard and softscape features)
Plaza-Trail Corridor:
· Engineering Plans and Testing
· Surveying and Construction Staking
· Land Purchase for ROW
· Excavation, Clearing, Grading, Erosion Control
· Water, Sanitary Sewer, and Storm Water Orainage System
· Storm Water Detention-Retention System and Landscaping Features
· Par Course features
· Enhanced Landscaping (both hard and softscape features)
· 12.5 foot Hike and Bike Trail
· Decorative Trail Lighting (low level bollards and lamp posts)
· Public Parking Lot
Pond-Plaza Areas:
· Engineering Plans and Testing
· Surveying and Construction Staking
· Land Purchase costs
· Excavation, Clearing, Grading, Erosion Control
· Water, Sanitary Sewer, and Storm Water Drainage System
· Storm Water Detention-Retention System and Landscaping Features
· Public Streets, Alleys, Sidewalks, and Trails
· Enhanced Landscaping (both hard and softscape features)
· Fountain Construction
EXHIBIT "D"
PUBLIC IMPROVEMENTS
continued
Church Street:
The funding for the street will provide for the section of Church Street east of SH26 to
Riverwalk Drive. The street will be a curb and gutter four-lane divided thoroughfare section.
Enhanced Landscaping with pavestone at intersections will be provided. A twelve and half
foot trail will be constructed along the south side and a five-foot sidewalk constructed along the
north side of the street. Enhanced decorative street lighting will be located along the median.
The land cost for the ROW will be based on the land purchase by the Oeveloper from the
Owner. The street, landscaping and decorative lighting packages to be constructed are further
defined as a part of Exhibit "0". Any improvements will need to be provided in ROW or other
property owned by the City.
Plaza-Trail Corridor:
A linear plaza trail shall be developed running along the west side of Riverwalk Drive. The
plaza-trail, consisting of an twelve and half foot wide trail, shall begin at Hall Johnson Road
and extend south to the entrance of the residential subdivision of The Bridges at Riverwalk.
The plaza-trail shall be landscaped, irrigated and lighted. Sections of the area will have
benches with a potential design for a par course.
'The lighted trail sections shall consist of low-level decorative lighting standards. Also
incorporated will be a series of earthen berms used to enhance the area and segregate it from
service areas of the buildings. In addition, five-foot wide trail loops will extend around the pond
sections incorporating these water features into the plaza-trail corridor. The Developer may
also incorporate adjacent parking to provide public parking facilities to enhance access and
convenience to the plaza-trail corridor. The land cost for the ROW will be based on the land
purchase by the Developer from the Owner. The landscaping, trail, pond areas, decorative
lighting, etc. packages to be constructed are further defined as a part of Exhibit "0". Any
improvements will need to be provided in ROW or other property owned by the City
Pond-Plaza Areas:
The north pond-plaza area will include approximately 52,312 square feet of land. The south
pond area will occupy approximately 90,000 square feet of land. The pond rock edges shall
consist of Lewter's limestone slabs and will be similar in appearance to the rock used on the
commercial buildings, which are massive in size and approximately twelve inches thick. This
will give platforms to enjoy the waterscape. A fountain will also be included along with a five-
foot wide looped walking trail with bench stations and specialty decorative lighting and
landscape features around the ponds. The sidewalk and trail areas will be lighted for
pedestrian use. These landscape and trail sections will interconnect with the plaza-trail
sections of the project. The land cost for the ROW will be based on the land purchase by the
Developer from the Owner. The landscaping, trails, pond areas, decorative lighting, etc.
packages to be constructed are further defined as a part of Exhibit "0". Any improvements will
need to be provided in ROW or other property owned by the City
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