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Home My WebLink AboutR2008-020s:Anur documen[skesolulionsVOS~notice oC iNenLdoc RESOLUTION NO. ?tJ ~ ~ Q A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DENTON, TEXAS, AUTHORIZING ISSUANCE OF A NOTICE OF INTENT THAT THE CITY OF DENTON INTENDS TO ESTABLISH A TAX INCREMENT FINANCING REINVESTMENT ZONE, PURSUANT TO THE TAX INCREMENT FINANCING ACT, TEXAS TAX CODE ANN., CHAPTER 311, FOR THE CITY OF DENTON, TEXAS; PROVIDING AN EFFECTIVE DATE. WHEREAS, the City of Denton intends to' establish a Tax Increment Financing Reinvestment Zone for the City of Denton pursuant to the Tax Increment Financing Act ("Act") for the purpose of encouraging development; and WHEREAS, the boundaries of the Tax Increment Financing Reinvestment Zone No. 1 TIF No. 1), are described in the attachment designated as Exhibit "A" and shown on the map attached hereto as Exhibit "B", said area for TIF No. 1 being within the city limits of the City of Denton; and WHEREAS, Section 31 ].003 of the Act provides that not less than the 60`~ day before the date of the Public Hearing, the governing body of the municipality must notify iu writing the governing body of each taxing unit that levies real property taxes in the proposed Zone that the municipality intends to establish a Tax Increment Financing Reinvestment Zone; NOW, THEREFORE, THE COUNCIL OF THE CITY OF DENTON HEREBY RESOLVES: SECTION 1. The City Manager is hereby directed to send all taxing entities a copy of the Notice of Intent to create Tax Increment Financing Reinvestment Zone No. 1 (TIF No. l). SECTION 2. The Notice shall include all descriptions and other documents as required by State law. SECTION 3. This resolution shall be effectiv~e/immediately upon its passage. PASSED AND APPROVED this the c32_" day of ~Ei , 2008. Q-M 4.YyIF~~..~ PERRY R. McNEILL, MAYOR EXHIBIT A C[TY OF DENTON TAX INCREMENT FINANCING REINVESTMENT ZONE NO. 1 BOUNDARY DESCRIPTION Beginning at the southwest corner of the ROW intersection of Congress and Carroll Blvd., the POINT OF BEGINNING; THENCE, west along the north property line of Carroll Park Addition, Block 3, Lot 8 to is northwest corner; THENCE, south along the west property lines of Carroll park Addition, Block 3, Lot 8 and Lot 16, continuing south across Parkway and south along the west property lines of Carroll Park Addition, Block 2, Lot 8 and Lot 1, continuing south across E. McKinney Street and south along the west property line of Carroll Park Addition, Block I, Lot 1 to the north property line of Town Hill Addition Block 1, Lot 2; THENCE, west along the north property line of Town Hill Addition, Block 1, Lot 2 to its northwest corner; THENCE, south along the west property line of Town Hill Addition, Block I, Lot 2 and Oak Carroll Addition Block A, Lot 1, continuing across W. Oak to the north property line of Saunders Addition, Lot 1 A; THENCE, west along the north property line of Saunders Addition, Lot 1 A to is northwest comer; THENCE, south along the west property lines of Saunders Addition, Lot 1 A and Lot 1 B, continuing across W. Hickory to the south ROW of W. Hickory; THENCE, east along the south ROW of W. Hickory to the northwest comer of William Neill, Tract 110; THENCE, south along the west property line of William Neill, Tract 1 10 to the north property line of William Loving, Tract 37; THENCE, west along the north property line of William Loving, Tract 37 to its northwest corner; THENCE, south along the west property line of William Loving Tract 37, continuing across Mulberry to the south ROW of Mulberry; THENCE, east along the south ROW of Mulberry to the northwest corner of William Loving, Tract 68; ' THENCE, south along the west property lines of William Loving, Tract 68, Tract 69 and Tract 70 to the southwest comer of Tract 70; THENCE, east along the south property line of William Loving, Tract 70 to the northwest corner of William Loving, Tract 72; THENCE, south along the west property line of William Loving, Tract 72, continuing south across Sycamore and south along the west property line of H. Cisco, Tract 139 thru 147 to the north property line of Carroll Blvd. Addition, Block A, Lot l; THENCE, west along the north property line of Carroll Blvd. Addition, Block A, Lot 1 to its northwest comer; THENCE, south along the west property line of Carroll Blvd. Addition, Block A, Lot 1 to the north property line of William Loving, Tract 77; THENCE, west along the north property line of William Loving, Tract 77 and continuing along the north property line of Jester Addition, Lot A-1 to its northwest corner; THENCE, south along the west property line of Jester Addition, Lot A- I to the north property line of William Loving, Tract 79; THENCE, west along the north property line of William Loving, Tract 79 to its northwest comer; THENCE, south along the west property line of William Loving, Tract 79 and continuing south along the west property line of William Loving, Tract 89 to the south ROW of Highland; THENCE, east along the south ROW of Highland to the west ROW of Carroll Blvd; THENCE, southeasterly along the west ROW of Carroll Blvd. to the south ROW of Eagle Drive and the northeast corner of A. Hill, Tract 216; ' THENCE, south along the west property line of A. Hill, Tract 216 and continuing south along the west property line of A. Hill, Tract 220 to its southwest corner and continuing across Collins to its south ROW; THENCE, east along the south ROW of Collins continuing across Fort Worth Drive to its east ROW; THENCE, northeasterly along the east ROW of Fort Worth Drive to the southwest comer of Sanger Brothers Addition, Block 1, Lot 1 (Part); THENCE, east along the south property line of Sanger Brothers Addition, Block I, Lot 1 Part) continuing across North Locust Street to its east ROW; THENCE, north along the east ROW of North Locust Street to the southwest comer of A. Hill, Tract 192; THENCE, east along the south property line of A. Hill, Tract 192 to the west property line of A. Hill, Tract 190, 191; THENCE, south along the west property line of A. Hill, Tract 190, 191 to its southwest corner; THENCE, east along the south property lines of A. Hill, Tract 190, 191 and A. Hill, Tract 188 continuing east across North and South Locust Street to its east ROW; THENCE, north along the east ROW of North and South Locust Street to the south ROW of Eagle Drive; THENCE, east along the south ROW of Eagle Drive continuing across the Union Pacific rail line to its east ROW; THENCE, northeast along the east ROW of the Union Pacific rail line across the Union Pacific spur and continuing across Robertson to its north ROW and the southeast comer of H. Cisco, Tract 134; THENCE, northeasterly along the east property line of H. Cisco, Tract 134 to the south ROW of East Prairie; THENCE, east along the south RO W of East Prairie to a point directly south of the southeast comer of Jasper Addition, Block l Lot 1; THENCE, north across East Prairie to the southeast corner of Jasper Addition, Block 1, Lot l; THENCE, north along the east property lines of Jasper Addition, Block 1, Lot 1, H. Cisco, Tract 139 thru 147 and William Loving, Tract 73 to the south ROW of Sycamore; THENCE, east along the south ROW of Sycamore to a point directly south of the southeast comer of H. Cisco, Tract 21; THENCE, north across Sycamore to the southeast corner of H. Cisco, Tract 21; THENCE, north along the east property lines of H. Cisco, Tract 21, H. Cisco, Tract 22, 23 and H. Cisco Tract, Tract 29 to the south property line of a Fred Hill Addition drainage and utility easement; THENCE, east and north along the south and east property line of a Fred Hill Addition drainage and utility easement to the southeast corner of Fred Hill Addition, Block A, Lot I; THENCE, north and west along the east and north property line of Fred Hill Addition, Block A, Lot 1 to the southeast corner of H. Cisco, Tract 31; THENCE, north along the east property line of H. Cisco, Tract 31 and continuing north across East Hickory and north along the east ROW of Bradshaw and continuing north across East McKinney to the southeast corner of College View, Block 5, Lot 14; THENCE, north along the east property line of College View, Block 5, Lot 14 to its northeast corner; THENCE, west along the north property line of College View, Block 5, Lot 14 continuing across Bradshaw and along the north property line of College View, Block 7, Lot 1,2 (west part each) to the east property line of College View, Block 7, Lot 1,2; THENCE, north, west and south along the property line of College View, Block 7, Lot 1,2 to the northeast corner of BBB &CRR, Tract 238, 242, 245; THENCE, west and south along the north and west property line of BBB &CRR, Tract 238, 242, 245 to the north property line of BBB &CRR, Tract 239; THENCE, west, south, west, south west and south along the irregular property line of BBB &CRR, Tract 239 to a point directly opposite the northeast corner of BBB &CRR, Tract 280; THENCE, directly across Frame Street to the said northeast corner of BBB &CRR, Tract 280; THENCE, west along the north property line of BBB and CRR, Tract 280 to the west property line of Railroad Avenue Addition, Block I, Lot 2; THENCE, north along the east property line of Railroad Avenue Addition, Block 1, Lot 2 to its intersection with the east ROW of Railroad Avenue; THENCE, northeasterly along the east ROW of Railroad Avenue to a point directly opposite the north ROW of Withers; THENCE, west across Railroad Avenue and continuing west along the north ROW of Withers to the west ROW of Oakland THENCE, south along the west ROW of Oakland to the north ROW of Congress; THENCE, west along the north ROW of Congress to the west ROW of Carroll Blvd.; Exhibit B Proposed TIF Boundaries 4/30/08 Bell c -i u, cn ~ ~ ~ O ~ ~ z ~ n c~ D ~ ~ cn r cn~z ~ ~ r ~ Z T ~ T o ~ ~ ~ ~ v W ~ co m m a C. m