HomeMy WebLinkAboutORD 1996-007 /�
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� ORDINANCE N0. . 96-07 C�EE� :a�.�C
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AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF
"� GRAPEVINE, TEXAS DESIGNATING A CERTAIN AREA AS
TAX INCREMENT FINANCING �EINVESTMENT ZONE ,
NUMBER ONE, CITY OF GRAPEVINE, TEXAS,
ESTABLISHING A BOARD OF DIR�CTORS FOR SUCH
REINVESTMENT ZONE AND OTHER MATTERS RELATING
THERETO; PROVIDING A CLAUSE RELATING TO
SEVERABILITY; DECLARING AN EMER�ENCY AND
PROVIDING AN EFFECTIVE DATE
'vUHtREAS, the City Council of the City of Grapevine, Texas (the "City"),
desires to promote the development of a certain contiguous geographic area (the
Grapevine Mills area) within its jurisdiction by the creation of a reinvestment zone, as
authorized by the Tax Increment Financing Act, Chapter 31 1 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, 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 20th day of February, 1996, at 7:30 p.m., in the
Council Chamber of the City of Grapevine, 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
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�„ .� WHEREAS, the proponents of the reinvestment zone offered evidence, both oral
and documentary, in favor of atl 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
GRAPEVINE, TEXAS:
Section 1 . That the facts and recitations contained in the preamble of this
ordinance are hereby found and declared to be true and correct.
Section 2. That the City� Cc;sr�il, �iier 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 "B" 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 "B", 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
or deterioration of structures or site improvements, substantially
impairs or arrests the sound growth of the City.
(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
ORD. NO. 96-07
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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
and will be of general benefit to the City.
(h) That the development or redevelopment of the property in the proposed
rein��Qstm°nt zore vv�l� no� cccur so�eiy through private investment in the
reasonably foreseeable future.
Section 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 as Exhibit "B" and such reinvestment zone shall hereafter be
identified as Tax Increment Financing Reinvestment Zone Number One, City of
Grapevine, Texas (the "Zone" or "Reinvestment Zone").
�'""" Section 4. That there is hereby established a board of directors for the Zone
which shall consist of nine (9) members. The board of directors of Tax Increment
'� Financing Reinvestment Zone Number One shall be appointed as follows:
(a) Five 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 (Tarrant County, Tarrant County Hospital District,
Grapevine-Colleyville Independent School District and 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 member instead. The
initial board of directors shall be appointed by resolution of the governing
, bodies of the City anri 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
ORD. NO. 96-07 3
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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.
Section 5. That the Zone shall take effect on January 1 , 1997, and that the
termination of the Zone shall occur on December 31 , 2016, 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.
Section 6. That the Tax Ir;crement 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 , 1996, the year in which the Zone was designated a reinvestment zone.
Section 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 Treasurer'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.
Section 8. 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.
Section 9. The fact that the present ordinances and regulations of the City of
Grapevine, Texas are inadequate to properly safeguard the health, safety, morals,
peace and general welfare of the inhabitants of the City of Grapevine, Texas, creates
an emergency for the immediate preservation of the public business, property, health,
safety and general welfare of the public which requires that this ordinance shall
become effective from and after the date of its passage, and it is accordingly so
,,,�, ordained.
PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF
�,,,,,, GRAPEVINE, TEXAS on this the 2oth day of February , 1996.
ORD. NO. g6-07 4
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APPROVED:
William D. Tate
Mayor
ATTEST: `
Linc! F3uff
City Secretary
APPROVED AS TO FORM:
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"� John F. Boyle, Jr.
City Attorney
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AF R FILING, PLEASE RETURN TO:
� SECRET
' TY (JF ;'EVINE
O B 5904
INE TX 76099
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ORD. NO. 96-07 5
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Exhibit "A" to Ura. 96-ui
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Metes and Bounds Description
243.263 Acres
Grapevine TIF
Heirs of James Gibson Survey, Abstract No. 586
Heirs of James Gibson Survey, Abstract No. 587
Henry Suggs Survey,Abstract No. 1415
Andrew Anderson Survey, Abstract No. 26
Tarrant County, Texas
Heirs of James Gibson Survey, Abstract No. 1715
C. S. Dunnagan Survey,Abstract No. 1655
John E. Holland Survey, Abstract No. 614
Dallas County, Texas
BEING a tract of land containing 243.263�acres, situated in the Heirs of James Gibson Survey,
Abstract No. 586, Heirs of James Gibson Survey,Abstract No. 587, Henry Suggs Survey, Abstract
No. 1415, and the Andrew Anderson Survey, Abstract No. 26, all Tarrant County, Texas and also
being situated in the Heirs of James Gibson Survey, Abstract No. 1715, C. S. Dunnagan Survey,
�` Abstract No. 1655, and the John E. Holland Survey,Abstract No..614, all in Dallas County, Texas
and being more particularly described by metes and bounds as follows (bearings based on the City
of Grapevine control monumentation):
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BEGINNING at the intersection of the south right-of-way line of County Road No. 3044 (40'
R.O.W.) with the northwest right-of-way line of State Highway No. 26 (variable R.O.W.);
THENCE in a westerly direction bearing to the left along the curving southerly line of County Road
No. 3044,having a radial bearing of South 35°25'06" West,a radius of 360.00 feet,passing through
an angle of 35°48'00", an arc distance of 224.94 feet to the end of said curve;
THENCE South 89°37'06" West, a distance of 549.16 feet to the beginning of a curve bearing to
the right having a radius of 440.00 feet;
THENCE in a westerly direction along the last mentioned curve, passing through an angle of
24°48'47", an arc distance of 190.55 feet to a point for corner;
THENCE South 89°29'40" West, a distance of 335.98 feet to a point for corner;
,, THENCE North 00°20'07" West, a distance of 571.03 feet to a point for corner;
THENCE North 80°08'27" East, a distance of 69.83 feet to a point for corner;
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EXI�IIBIT A
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THENCE North 25°55'S2" East, a distance of 627.39 feet to a point for corner;
THENCE North 00°28'33" East, a distance of 183.87 feet to a point fo�corner;
THENCE North OS°31'27" West, a distance of 199.84 feet to a point for corner;
THENCE North 00°07'10" East, a distance of 785.14 feet to a point for corner;
THENCE South 89°55'41" West, a distance of 52.18 feet to a point for corner;
THENCE North 16°48'10" East, a distance of 259.00 feet to a point for corner;
THENCE North 28°44'10" East, a distance of 1596.51 feet to a point for corner;
THENCE North 35°35'10" East, a distance of 269.66 feet to a point for corner;
THENCE North 49°54'10" East, a distance of 159.53 feet to a point for corner;
THENCE North 38°44'11" West, a distance of 766.07 feet to a point for corner;
��^ THENCE North 21°50'42" East, a distance of 183.69 feet to a point for corner;
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THENCE South 38°44'11" East, a distance of 858.57 feet to a point for corner;
THENCE North 56°53'10" East, a distance of 209.40 feet to a point for corner;
THENCE North 66°43'10" East, a distance of 277.03 feet to a point for corner;
THENCE North 74°48'10" East, a distance of 235.52 feet to a point for corner;
THENCE North 88°06'10" East, a distance of 520.82 feet to a point for corner;
THENCE North 89°19'40" East, a distance of 352.35 feet to a point for corner;
THENCE North O 1°49'16" East, a distance of 451.84 feet to a point for corner;
THENCE South 88°10'45" East, a distance of 160.00 feet to a point for corner;
THENCE South O 1°49'16" West, a distance of 486.98 feet to a point for corner;
��'� THENCE North 89°15'09" East, a distance of 1983.97 feet to a point for corner;
THENCE North 57°32'S4" East, a distance of 363.97 feet to a point for corner;
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Exhibit "A" to Ord. 96-07
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THENCE North 89°15'09" East, a distance of 354.94 feet to a point for corner;
a THENCE South 34°34'.15" West, a distance of 245.11 feet to a point for corner;
THENCE South 89°15'09" West, a distance of 156.44 feet to a point for corner;
THENCE South 57°32'S4" West, a distance of 363.97 feet to a point for corner;
THENCE South 89°15'09" West, a distance of 2049.62 feet to a point for corner;
THENCE South O1°49'35" West, a distance of 1240.21 feet to a point for corner;
THENCE South O1°49'35" West, a distance of 441.77 feet to a point for corner;
THENCE South OS°59'45" East, a distance of 405.04 feet to a point for corner;
THENCE South 15°12'45" East, a distance of 324.23 feet to a point for corner;
THENCE South 31°00'S9" West, a distance of 665.91 feet to a point for corner;
THENCE South 27°30'10" West, a distance of 531.11 feet to a point for corner;
THENCE South 42°21'Ol" West,a distance of 1557.29 feet to a point on a curve whose center bears
South 34°44'02" East, a distance of 4545.66 feet;
THENCE in a southwesterly direction bearing to the left along the last mentioned curve, passing
through an angle of 07°48'02", an arc distance of 618.87 feet to a point for corner;
THENCE North 47°42'13" West, a distance of 193.61 feet to a point for corner;
THENCE North 47°17'47" East, a distance of 400.00 feet to the POINT OF BEGINNING and
CONTAINING 274.787 acres;
Save and except a tract of land, containing 31.524 acres, situated in the Heirs of James Gibson
Survey, Abstract 586 and the Henry Suggs Survey, Abstract No. 1415, in the City of Grapevine,
Tarrant County, Texas and being a portion of a called 80.6597-acres tract as conveyed to Gateway
Center Associates,Ltd.and evidenced in a Special Warranty Deed,recorded in Volume 9799 at Page
0139 of the Deed Records of Tarrant County, Texas, said 33.398-acre tract being more particularly
described by metes and bounds as follows (bearings based on the City of Grapevine control
monumentation):
COMMENCING at a concrete monument with brass cap found at the south corner of a visibility clip
at the intersection of the south right-of-way line of Anderson-Gibson Road(a called 40-foot wide
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Exhibit "A" to Ord. 96-07
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right-of-way) with the current right-of-way line of State Farm to Market Highway 2499 (FM 2499
(a variable width right-of-way));
THENCE South O1°46'42" West along the west right-of-way line of said FM 2499, 83.81 feet to
a 5/8-inch iron rod set for the POINT OF BEGINNING;
THENCE South O1°46'42" West continuing along said west right-of-way line of FM 2499, 771.16
feet to a 5/8-inch iron rod set for a corner;
THENCE South 46°46'43" West,departing said west right-of-way line, 56.57 feet to a 5/8-inch iron
rod set for a corner;
THENCE North 88°13'17" West, 103.41 feet to a 5/8-inch iron rod set for the beginning of a curve
to the left;
THENCE along the arc of said curve to the left, having a central angle of 71°39'29", a radius of
340.00 feet and an arc length of 425.23 feet to a set 5/8-inch iron rod;
THENCE South 20°07'14" West, 18.98 feet to a 5/8-inch iron rod set for the beginning of a curve
to the right;
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THENCE along the arc of said curve to the right, having a central angle of 90°00'00", a radius of
30.00 feet and an arc length of 47.12 feet to a 5/8-inch iron rod set at the end of said curve;
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THENCE North 69°52'46" West, 1158.58 feet to a 5/8-inch iron rod set at the beginning of a curve
to the right;
THENCE along the arc of said curve to the right, having a central angle of 08°34'24", a radius of
977.00 feet and an arc length of 146.19 feet to a 5/8-inch iron rod set for the end of said curve;
THENCE North 61°18'22" West, a distance of 15.92 feet to a point for corner;
THENCE North 28°44'10" East, a distance of 45.40 feet to a poiiit for corner;
THENCE North 35°35'10" East, a distance of 232.58 feet to a point for corner;
� THENCE North 49°54'10" East, a distance of 232.53 feet to a point for corner;
THENCE North 56°53'10" East, a distance of 229.94 feet to a point for corner;
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THENCE North 66°43'10" East, a distance of 245.69 feet to a point for corner;
� r� THENCE�North 74°48'10" East, a distance of 198.07 feet to a point for corner;
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Exhibit "A" to Ord. 96-07
Page 5 of 5 ,
THENCE North 88°06'10" East, a distance of 383.20 feet to a point for corner;
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THENCE South 78°18'25" East, a distance of 108.84 feet to a point for corner;
THENCE North 89°17'08" East, a distance of 295.70 feet to a 5/8-inch iron rod set for corner;
THENCE South 44°28'04" East, 69.16 feet to the POINT OF BEGINNING and CONTAINING
31.524 acres.
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D196039149
CITY OF GRAPEVINE
P O BOX 95104
GRAPEVINE, TX 76099
-W A R N I N G-THIS IS PART OF THE QFFICTAL RECOFiD--D O N O T D E S T R 0 Y
I N D E X E D -- T A R R A N T C 0 U N T Y T E X A S
S U Z A N N E H E N D E R S O N -- COUNTY CLERK
0 F F I C I A L R E C E I P T
T 0: CITY OF GRAPEVINE
RECEIPT NO REGISTER RECD-BY PRINTED DATE TIME
196127324 DR97 T000719 03/O1/96 09 :25
�
INSTRUMENT FEECD INDEXED TIME
1 D196039149 WD 960301 09 :25 CK 16500
T O T A L : DOCUMENTS: Ol F E E S: 35 . 00
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ANY PROVISION WHICH RESTRICTS THE SALE RENTAL OR USE
OF THE DESCRIBED REAL PROPERTY BECAUSE OF COLOR OR RACE
IS INVALID AND UNENFORCEABLE UNDER FEDERAL LAW.
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