2013-033s:llegal\our documents\ordinances\131denton co participation agr.docx
ORDINANCE NO. 2�13-�33
AN ORDINANCE ACCEPTING AN AGREEMENT WITH DENTON COUNTY TO
PARTICIPATE 1N TAX INCREMENT REINVESTMENT ZONE NUMBER TWO;
AUTHORIZING THE CITY MANAGER TO EXECUTE THE AGREEMENT AND TAKE
OTHER ACTIONS NECESSARY TO ADMINISTER THE TAX 1NCREMENT
REINVESTMENT ZONE; MAKING CERTAIN FINDINGS AND OTHER MATTERS
RELATED THERETO; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, in accordance with the provisions of the Tax Increment Financing Act,
Texas, Tax Code, Chapter 311 ("the Act"), the Denton City Council approved Ordinance No.
2012-366 on December 18, 2012, creating, establishing and designating "Tax Increment
Reinvestment Zone Number Two, City of Denton, Texas" (hereinafter called the "TIRZ") under
the Act; and
WHEREAS, the Denton County Commissioners Court recognize that participation in the
TIRZ will have the desired effect of developing and redeveloping portions of the County to the
benefit of all taxing units which levy taxes in the TIRZ; NOW, THEREFORE,
THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS:
SECTION 1. The City Manager, or his designee, is hereby authorized to execute an
Agreement to Participation in the Tax Increment Reinvestment Zone Number Two with Denton
County and to malce expenditures in accordance with the terms set forth in the attached
Participation Agreement.
SECTION 2. This ordinance sha11 become effective immediately upon its passage and
approval.
PASSED AND APPROVED this the
ATTEST:
JENNIFER WALTERS, CITY SECRETARY
BY: �
APPR ED AS TO LEGAL FORM:
ANITA BURGESS, CITY ATTORNEY
BY: i �1�. � - r � �
City of Denton
And
Denton County
Agreement to Participate
In
Tax Increment Reinvestment Zone, Number Two, City of Denton
THIS AGREEMENT, ("Agreement") is made and entered into by and between the City
of Denton ("the City"), a municipal corporation, and Denton County, ("the County"), Texas.
WITNESSETH:
WHEREAS, in accordance with the provisions of the Tax Increment Financing Act,
Texas, TaY Code, Chapter 311 ("the AcY'), the Denton City Council adopted an O.rd;�1a��::c �"the
Ordinance") on the 18t�' day of December, 2012, in the form attached hereto as Exhibit "A" and
incorporated herein by reference, creating, establishing and designating "Reinvestment Zone
Number Two, City of Denton, Texas" (hereinafter called the "Reinvestment Zone") under the
Act; and
WHEREAS, the City also adopted a preliminary Project Plan and Financing Plan
(collectively "the Plan") for the Reinvestment Zone in substantially the form of the Plan attached
hereto as Exhibit "B" and incorporated herein by reference; and
WHEREAS, the Act provides that each taxing unit levying taxes on real property in a
Tax Increment Reinvestment Zone (hereinafter called a"TIRZ") is not required to pay into the
Tax Increment Fund (hereinafter called a"TIF") any of its tax increment produced from property
located in the TIRZ unless such taxing unit enters into an agreement to do so with the governing
body of the municipality that created the TIRZ; and
WHEREAS, an agreement to participate in a TIRZ created under the Act may be entered
into any time before or after the TIRZ is created, and such agreement may include any conditions
for payment of the tax increment into the TIF and must specify the portion of the tax increment
to be paid into the TIF and the years for which that tax increment is to be paid into ±?�e TTF
NOW, THEREFORE, the City and the County, in consideration of the terms,
conditions, and covenants contained herein, hereby agree as follows;
Section 1. The City and the County hereby agree to pay into the TIF established by
the City for the Reinvestment Zone a percentage of the ad valorem tax collections on the
captured assessed value of real property in the Reinvestment Zone as follows and subject to the
following terms and conditions.
a. City of Denton. The City hereby agrees to pay into the TTF, forty percent (40%) of
the ad valorem tax collections on the captured assessed value of real property in the
Reinvestment Zone from the date the Reinvestment Zone is established until the
City of Denton — TIRZ #2 - Page 1 of 8
earlier of: (i) December 31, 2037, or (ii) the date on which the Plan has been fully
implemented and all project costs, tax increment bonds, interest on such tax
increment bonds and all other obligations, contractual or otherwise, payable from
the TIF have been paid in full.
b. Denton County. The County hereby agrees to pay into the TIF, forty percent
(40%) of the ad valorem tax collections on the captured assessed value of real
property in the Reinvestment Zone from the date the Reinvestment Zone is
established until the earlier of: (i) December 31, 2037, or (ii) the date on which the
Plan has been fully implemented and a11 project costs, tax increment bonds, interest
on such tax increment bonds and all other obligations, contractual or otherwise,
payable from the TIF have been paid in full. In no event will the County be liable
for payment of ad valorem tax collections on the captured assessed value of real
property in the Reinvestment Zone after December 31, 2037.
c. Soundary. The boundaries of the Reinvestment Zone are and shall be those
boundaries described in the Ordinance, or an amendment thereto revising the
boundaries duly approved by the Reinvestment Zone Board of Directors and the
City Council of the City.
d. Purpose and Pro�ram. Street, utility, drainage improvements and industrial
projects are to be constructed as nearly as possible in conformity with the Plan.
Any additions, changes, revisions or modiiications to the Plan made after the date
of this Agreement may only be made by the Board of Directors of the Reinvestment
Zone and the City Council of the City.
e. Total Taxable Value. The real property within the boundaries of the Reinvestment
Zone is to be the total taxable value as of January 1, 2012, for ad valorem tax
purposes and for establishing the tax increment base referenced in Section 311,012
of the Act.
f. Bond Limit. The Denton City Council and the Denton County Commissioners
Court shall have the authority to authorize the total principal amounts of bonds or
notes.
g. Use of TIF Fands. All amounts paid into the TIF shall be used solely to pay or
reimburse cash expenditures for project costs or the principal of and interest on any
tax increment bonds or notes issued to finance project costs under tl�e r1.:�. and to
pay direct costs properly chargeable under the Act and under generally accepted
accounting principles to the administration of the Reinvestment Zone, all in
accordance with the Plan.
h. Denosit of TIF Funds. The City and the County shall provide for the collection of
its taxes in the Reinvestment Zone as for any other property taxed by the City or the
County. Each participating taxing authority shall pay into the TIF an amount equal
to the tax increment produced by the authority. The City shall invoice the County
City of Denton — TIRZ #2 - Page 2 of 8
not later than thirty (30) days after the delinquency date of property �a:�c.. in the
Reinvestment Zone. Pursuant to the Act, (Section 311.013(c)) the City and the
County shall malce payment to the TIF, pursuant to this Agreement, not later than
ninety (90) days after the delinquency date of property taxes in the Reinvestment
Zone.
i. Limits of Obli�ation of the County. Except for payment to the TIF of the County
ad valorem tax collections on the total taxable value of real property in the
Reinvestment Zone the County shall have no obligation for any costs or expenses
associated with the operation of the Reinvestment Zone, including, without
limitation, any obligation to pay or repay any debt issued by the City, the
Reinvestment Zone, or the Board of Directors of the Reinvestment Zone relating to
the Reinvestment Zone or any costs associated with the operation of the
Reinvestment Zone or any projects relating thereto. The County is not required to
pay into the TIF the applicable portion of the tax increment that is attributable to
delinquent taxes.
j. Board of Directors. The Reinvestment Zone's Board of Directors (hereinafter
referred to as "the Board") was established as provided in Section 4 of Ordinance
2012-366. Nine (9) of the eleven (11) member Board shall be appointed by the
Denton City Council within sixty (60) days of the passage of the Ordina�YCe or
within a reasonable time thereafter. All members appointed to the Board shall meet
the eligibility requirements set forth in the Act.
The terms of Board members shall be two-year terms. A Board member may serve
no more than three (3) consecutive terms. At the first meeting of the Board, the
Board members will draw lots to establish the staggering of terms with five (5) of
the Board members serving an initial tern of one (1) year. The Denton City Council
shall designate a member of the Board to serve as chairman of the Board, and the
Board shall elect from its members a vice chairman and other officers as it sees fit.
The Board shall make recommendations to the Denton City Council concerning the
administration of the Reinvestment Zone, It shall prepare and adopt a project plan
and Reinvestment Zone financing plan for the Reinvestment Zone and must submit
such plans to the Denton City Council for its approval, The Board shall possess all
powers necessary to prepare, implement and monitor such project plan and
financing plan for the Reinvestment Zone as the Denton City Council considers
advisable, including the submission of an annual report on the status of the
Reinvestment Zone. Any powers not herein delegated to the Board are specifically
reserved to the Denton City Council.
k. Denton Independent School District ("DISD") Representation. The DISD has
chosen not to participate in the Reinvestment Zone and shall not have the right to
appoint a voting member on the Board of the Reinvestment Zone.
City of Denton — TIRZ #2 - Page 3 of 8
l. County Representation. The County shall have the right to appoint and maintain
one (1) voting member on the Board of the Reinvestment Zone at all times.
m. City Representation. The City shall have the right to appoint and maintain nine
(9) voting members on the Board of the Reinvestment Zone at all times.
n. Other. Rayzor Investments, LLC, shall have the right to appoint and maintain one
(1) voting member on the Board of the Reinvestment Zone at all times.
Section 2. The City agrees that City bonds or tax increment bonds of the Reinvestment
Zone will not be issued to finance projects contemplated in the Plan until (a) a final Plan has
been prepared and adopted by the Board of the Reinvestment Zone and approved by the Denton
City Council, and (b) the City has furnished documentation, evidence and assurances �at�;�iuctory
to the Board of the Reinvestment Zone to the effect that funds necessary to support cash
expenditures and the retirement of tax increment bonds will be available either from revenues of
the TIF or from other funds provided by the City.
Section 3. This Agreement shall become effective as of the date of the final signature
hereto and shall remain in effect until the earlier of: (i) December 31, 2037, or (ii) the date on
which the Plan has been fully implemented and all project costs, tax increment bonds, interest on
such tax increment bonds and all other obligations, contractual or otherwise, payable from the
TIF have been paid in full.
Section 4. To the extent of their respective liabilities, the City and the County shall be
responsible for the sole negligent acts of their officers, agents, employees or separate contractors.
In the event of joint and concurrent negligence of both the City and the County, responsibility, if
any, shall be apportioned comparatively in accordance with the laws of the State of Texas,
without however, waiving any governmental immunity available to the City and the County
under Texas law and without waiving any defenses of the parties under Texas law,
Section 5. This Agreement shall be administered by the City Manager or his designee.
Section 6. Whenever this Agreement requires or permits any consent, approval, notice,
request, proposal, or demand from one party to another, the consent, approval, notice, request,
proposal, or demand must be in writing to be effective and shall be delivered to the party
intended to receive it at the addresses shown below or to such other addresses as the parties may
request, in writing from time to tirne:
If intended for the City of Denton, to:
City Manager
City of Denton, Texas
215 E. McKinney
Denton, Texas 76201
City of Denton — TIRZ #2 - Page 4 of 8
If intended for Denton County, to:
County Judge
Denton County, Texas
110 West Hicicory Street, 2°d Floor
Denton, Texas 76201-4168
Section 7. This Agreement is made subject to the provisions of the Charter and
Ordinances of the City, as amended; the policies of the County; the Texas Constitution, codes,
and statutes; and all other applicable state and federal laws, regulations and requirements, as
amended. Venue shall be exclusively in Denton County, Texas.
Section S. This Agreement embodies the complete understanding of the City and the
County with respect to the subject matter hereof superceding all oral or written agreements
between the parties relating to all matters herein. The Agreement may be amended, modified, or
supplemented only by an instrument in writing executed by the City and the County.
Section 9. The provisions of this Agreement are severable and the invalidity or
unenforceability of any provision herein shall not affect the validity or enforceability of any
other provision. It is the intention of the parties that each provision herein shall be cc,r,.str�r::� in a
manner designed to effectuate the purposes of such provision to the maximum extent enforceable
under applicable law.
Section 10. Failure of either party hereto to insist on the strict performance of any of the
covenants or agreements herein contained or to exercise any rights or remedies accruing
hereunder upon default or failure of performance shall not be considered a waiver of the right to
insist on, and to enforce by any appropriate remedy, strict compliance with any other obligation
hereunder or to exercise any right or remedy occurring as a result of any future default or failure
of performance.
Section 11. No party hereto waives or relinquishes any immunity or defense on behalf of
itself, its trustees, officers, employees or agents as a result of its execution of this Agreement and
performance of the covenants contained herein.
Executed in triplicate this the �f�? day of ��rc�oz✓ 201�' p by the City, signing
by and through its City Manager, approved on r` • 5, 201,z;3and on the 21 st day of
December, 2012, by the County through its duly authorized officials by approval at a duly called
and noticed County Commissioners meeting on December 21, 2012,
CITY OF DENTON, TEXAS
George ampbell, City Manager
DEN O COUNTY, TEXAS
Mary Horn, ty Judge
City of Denton — TIRZ #2 - Page 5 of 8
ATTEST:
ATTEST:
J ifer a s, City Secretary Denton County Clerlc
APPROVED AS TO FORM:
�� , � --�
�'�„ . � _�� �-� r .� � /
Anita Burgess, City Attorney, Denton, Texas /'
APPRO�ED�& TO FORM:
City of Denton — TIRZ #2 - Page 6 of 8
EXHIBIT A
• Ordinance (see "Ordinance" tab)
City of Denton — TIRZ #2 - Page 7 of 8
1lcodad\departmentsUegallour documentslordinances1121ecodevo westpazk tirz.doc
ORDINANCE NO. 2012-366
AN ORDINANCE DESIGNATING AND DESCRIBING THE BOUNDARIES OF A TAX
INCREMENT REINVESTMENT ZONE TWO FOR AN INDUSTRIAL DISTRICT OF
DENTON, TEXAS; ESTABLISHING THE DURATION OF THE ZONE; ESTABLISHING A
TAX 1NCREMENT FUND; ESTABLISHING A BOARD OF DIRECTORS FOR THE TAX
INCREMENT RElNVESTMENT ZONE; MAKING CERTAIN FINDINGS AND OTHER
MATTERS RELATED THERETO; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City Council of the City of Denton, Texas, (the "City"), desires to
promote the development of an industrial area within the City of Denton by the creation of a Tax
Increment Financing 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, the City has called a public hearing to hear the public comments on the
creation of the proposed Tax Increment Reinvestment Zone and its benefits to the City and the
property in the proposed Tax Increment Reinvestment Zone; and
WHEREAS, notice of such public hearing was published in the Denton Record-
Chronicle, 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 heaxing; and
WHEREAS, such hearing was convened at the time and place mentioned in the published
notice, on the 18h day of December 2012, at 6:30 p.m., in Council Chambers of the City of
Denton, Texas; and
WHEREAS, the City, at such hearing, invited any interested person, or his/her
representative, to appear and speak for or against the creation of the Tax Increment Reinvestment
Zone ,the duration of the Tax Increment Reinvestment Zone, the boundaries of the proposed Tax
Increment Reinvestment Zone, whether a11 or part of the territory which is described in Exhibit
"A" attached hereto and depicted on the map attached hereto as Exhibit "B" should be included
in such proposed Tax Increment Reinvestment Zone, the concept of tax increment financing and
the appointment of a board of directors of the proposed Tax Increment Reinvestment Zone; and
WHEREAS, all owners of property located within the proposed Tax Increment
Reinvestment Zone and all other t�ing units and other interested persons were given a
reasonable opportunity at such public hearing to protest the creation of the proposed Tax
Increment Reinvestment Zone andlor the inclusion of their property in such; Tax Increment
Reinvestment Zone; and
WHEREAS, the proponents of the Tax Increment Reinvestment Zone offered evidence,
in favor of all of the foregoing matters relating to the creation of the Tax Increment
Reinvestment Zone, and opponents of the Tax Increment Reinvestment Zone were given the
opportunity to appear to contest creation of the zone, after which the hearing was closed; NOW,
THEREFORE,
THE CITY COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS:
SECTION 1. The facts and recitations contained in the preamble of this ordinance are
hereby found and declared to be true and correct.
SECTION 2. 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) The public hearing on adoption of the Tax Increment Financing
Reinvestment Zone has been properly called, held and conducted and that
notice of such hearing has been published as required by law
b) Creation of the proposed Tax Increment 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 T� Increment Reinvestment Zone.
c) The Tax Increment Reinvestment Zone, as defined in Exhibits "A" and
"B", meets the criteria for the creation of a Ta�c Increment Financing
Reinvestment Zone set forth in the Act in that:
(i) It is a contiguous geographic area located wholly within the corporate
limits of the City.
(ii) It substantially impairs or arrests the sound growth of the
municipality creating the zone or constitutes an economic or social
liability in its present condition and use because of the presence of:
a. The area has a predominance of
sidewallcs or street layout; andlor
b. Predominately open or undeveloped
platting, deterioration of structures
other factors.
defective or inadequate
and, because of obsolete
or site improvements, or
(iii) The proposed project plan includes the use of land in the zone with
access to an industrial rail spur that serves the park.
a) That 30 percent or less of the property in the proposed T� Increment
Financing Reinvestment Zone, excluding property that is publicly owned,
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.
b) The total appraised value of all taxable real property in the proposed T�
Increment Financing 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 Tax Increment Reinvestment
Zones within the City, according to the most recent appraisal rolls of the
City, does not exceed 25 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.
c) The improvements in the T� Increment Reinvestment Zone will
significantly enhance the value of all t�able real property in the Tax
Increment Financing Reinvestment Zone.
Ordinance Desienatine TIRZ
Citv of Denton, Texas
d) The development or redevelopment of the property in the proposed Tax
Increment Financing Reinvestment Zone will not occur solely through
private investment in the reasonable foreseeable future.
SECTION 3. The City hereby creates a Tax Increment Reinvestment Zone over the area
described in Exhibit "A," attached hereto and depicted in the map attached hereto as Exhibit "B,"
and such Tax Increment Reinvestment Zone shall hereafter be identified as Tax Increment
Reinvestment Zone Number Two, City of Denton, Texas (the "Zone" or "Reinvestment Zone").
SECTION 4. There is hereby established a board of directors for the Zone that shall
consist of eleven members. The board of directors of Tax Increment Reinvestment Zone Number
Two shall be appointed as follows:
a) Nine of the eleven member board shall be appointed by the City Council
as provided here within sixty (60) days of the passage of this ordinance or
within a reasonable time thereafter. All members appointed to the board shall
meet the eligibility requirements set forth in the Act. The governing body of
Denton County, which levies taxes on real property in Tax Increment
Reinvestment Zone Number Two, has the right to appoint a single board
member. Rayzor Investments, LLP the "Developer" has the right to appoint a
single board member.
b) The terms of the board members shall be two-year terms. A board member
may serve no more than three consecutive terms. At the first meeting of the
Board of Directors, the board members will draw lots to establish the
staggering of terms with 5 of the board members serving an initial tern of one
year. The City Council shall designate a member of the board to serve as
chairman of the board of directors, and the board sha11 elect from its members
a vice chairman and other officers as it sees fit.
c) The boaxd of directors shall make recommendations to the City Council
concerning the administration of the Zone. It shall prepare and adopt a project
plan and Tax Increment 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 plan and financing plan for the Tax Increment
Reinvestment Zone as the City Council considers advisable, including the
submission of an annual report on the status of the Zone. Any powers not
herein delegated to the board of directors are specifically reserved to the City
Council.
SECTION 5. The Zone shall take effect immediately upon passage of this ordinance, and
the termination of the Zone shall occur on December 31, 2036, 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. The base value within the Zone is established as of
January 2012.
Ordinance Desi¢natine T[RZ
Citv of Denton, Texas
SECTION 6. The T� Increment Base for the Zone, which is the total appraised value of
all t�able real property located in the Zone, is to be determined as of December 31, 2012, the
year in which the Zone was designated a Tax Increment Reinvestment Zone.
SECTION 7. Pursuant to Section 311.013(1) of the Tax Code, the City herby deterrnines
that the following portions of the tax increment produced by the City of Denton shall be paid into
the tax increment fund for the reinvestment zone:
Jurisdiction
City of Denton
Denton County
Years
1-10
11-25
1-10
11-25
2012 Tax Rate
$/$100 Value
0.6897500
0.7197500
0.2828670
0.3128670
% of Tax Rate
,�
.�
.�
,�
SECTION 8. 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 sha11 be secured in the manner prescribed by law for funds 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 9. 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 10. This Ordinance shall become effective immediately upon its passage and
approval.
PASSED AND APPROVED this 18t" day of December 2012.
ATTEST:
JENNIFER WALTERS, CITY SECRETARY
BY: �
MARK A. UCr� , MAYOR
Ordinance DesiQnatin� TIRZ
Citv of Denton, Texas
APPROVED AS TO LEGAL FORM:
ANITA BURGESS, CITY ATTORNEY
BY:
.�
Ordinance Desi n�inR TIRZ
Ciri of Denton. Texas
EXHIBIT A
CITY OF DENTON
TAX INCREMENT REINVESTMENT ZONE No. 2
BOUNDARY DESCRIPTION
TRACT No.l
BEGINNING at the southwest corner of the 9.27 acre T. Toby, Tract 4 and the north right-of-
way line of Airport Road, the POINT OF BEGINNING;
THENCE, north along the west boundary of the 9.27 acre T. Toby, Tract 4 to its northwest
corner and the southwest boundary of the 41.629 acre T. Toby, Tract 3(Denton Municipal
Airport);
THENCE, northwest along the southwest boundary of the 41.629 acre T. Toby, Tract 3(Denton
Municipal Airport) to its southwest corner and the east right-of-way of Sabre Road;
THENCE, northwesterly along the east right-of-way of Sabre Road and the westerly boundary of
the 41.629 acre T. Toby, Tract 3(Denton Municipal Airport) and the 66.946 acre T. Toby, Tract
2 to the northwest corner of the 66.946 acre T. Toby, Tract 2;
THENCE, east along the north boundaxy of the 66.946 acre T. Toby, Tract 2 to the southwest
corner of the 148.5803 acre J. Scott, Tract 1;
THENCE, north along the west boundary of the 148.5803 acre J. Scott, Tract 1 to its northwest
corner and the south right-of-way of Jim Christal Road;
THENCE, east along the north boundary of the 148.5803 acre J. Scott, Tract 1 to its northeast
corner and the west right-of-way of Western Blvd.;
THENCE, due east across Western Blvd. to its east right-of-way and the northwest corner of the
20.7207 acre J. Bacon, Tract 1;
THENCE, east along the south right-of-way of Jim Christal Road and the north boundaries of the
20.7207 acre J. Bacon, Tract 1 and the 173.055 acre West Park Addition, Phase 2, Block A, Lot
2a to the southwest corner of the 24.9953 acre B.b.b, Tract 15-17;
THENCE, north along the west boundaries of the 24.9953 acre B.b.b., Tract 15-17, the 39.999
acre B.b.b., Tract 18 and the 10 acre B.b.b, Tract 21 a to the northwest corner of the 10 acre
B.b.b, Tract 21a;
THENCE, east and south along the north and east bouridary of the 10 acre B.b.b, Tract 21 a to its
southeast corner and the north boundary of the 39.999 acre B.b.b, Tract 18;
THENCE, east along the north boundary of the 39.999 acre B.b.b., Tract 18 to its northeast
corner and the west boundary of the 43.3069 acre B.b.b, Tract 12-14;
THENCE, north along the west boundaries of the 43.3069 acre B.b.b, Tract 12-14 and the
19.5738 acre B.b.b, Tract 11 to the northwest corner of the 19.5738 acre B.b.b, Tract 11 and the
south right-of-way of US Highway 380;
THENCE, east along the north boundary of the 19.573 8 acre B.b.b., Tract 11 and the south right-
of-way of US Highway 380 to the northeast corner of the 19.5738 acre B.b.b, Tract 11;
THENCE, southeasterly along the east boundaries of the 19.5738 acre B.b.b, Tract 11 and the
43.3069 acre B.b.b, Tract 12-14, continuing westerly along the south boundary of the 43.3069
acre B.b.b, Tract 12-14 to its southwest corner and the southeast corner of the 39.999 acre B.b.b,
Tract 18; '
THENCE; west along the south boundary of the 39.999 acre B.b.b, Tract 18 to the northeast
corner of the 24.9953 acre B.b.b., Tract 15-17;
THENCE, south along the east boundary of the 24.9953 acre B.b.b., Tract 15-17 to its southeast
corner and the north right-of-way of Jim Christal Road;
THENCE, easterly along the north right-of-way of Jim Christal Road to the northwest corner of
the 16.3051 acre J. Perry, Tract 1a;
THENCE, northeasterly, south, east, north and east along the north boundary of the 16.3051 acre
J. Perry, Tract 1 a to its northeast corner;
Thence, south along the east boundary of the 16.3051 acre J. Perry, Tract la to the northwest
corner of the 18.3427 acre E. Puchalshi, Tract 295;
THENCE, east along the north boundary of the 18.3427 acre E, Puchalski, Tract 295 to its
northeast corner;
THENCE, southeasterly along the east boundaries of the 18.3427 acre E. Puchalski, Tract 295
and the 10,347 acre E. Puchalski, Tract 295a to its southeast corner and the northeast corner of
the 31.0 acre E. Puchalski, Tract 296;
THENCE, southeasterly, west and south along the east boundary of the 31.0 acre E. Puchalski,
Tract 296 to its southeast corner and the north boundary of the north part of the 31.305 acre E.
Puchalski, Tracts 527, 528, and 529;
THENCE, east along the north boundary of the north part of the 31.305 acre E. Puchalski, Tracts
527, 528, and 529 to its northeast corner;
Thence, southwesterly along the east boundary and west along the south boundary of the north
part of the 31305 acre E. Puchalski, Tracts 527, 528, and 529 to the east right-of-way of
Precision Road;
�
THENCE, west across Precision Road to its west right-of-way and the southeast corner of the
173.055 acre West Park Addition, Phase 2, Block A, Lot 2a;
THENCE, west along the south boundary of the 173.055 acre West Park Addition, Phase 2,
Block A, Lot 2a to the northeast corner of the 5.922 acre West Park Addition, Phase 2, Block A,
Lot 3;
THENCE, south and west along the east and south boundary of the 5.922 acre West Park
Addition, Phase 2, Block A, Lot 3, continuing west along the south boundary of the 6.889 acre
R. D. Wells Interchange, Block 1, Lot 1(City of Denton) to the east boundary of the 173.055
acre West Park Addition, Phase 2, Block A, Lot 2a;
THENCE, south along the east boundary of the 173.055 acre West Park Addition, Phase 2,
Block A, Lot 2a to its southeast corner and the north right-of-way of Airport Road;
THENCE, west along the north right-of-way of Airport Road and the south boundary of the
173.055 acre West Park Addition, Phase 2, Block A, Lot 2a to its southwest corner and the east
right-of-way of Western Blvd.;
THENCE, west across Western Blvd, to its west right-of-way and the southeast corner of the
66.946 acre T. Toby, Tract 2;
THENCE, west along the north right-of-way of Airport Road and the south boundaries of the
66.946 acre T. Toby, Tract 2, the 41.629 acre T. Toby, Tract 3(Denton Municipal Airport) and
the 9.27 acre T. Toby, Tract 4 and the POINT OF BEGINNING.
TRACT No. 2
The entire south part of the 31.305 acre E. Puchalski; Tract 527, 528, and 529.
TRACT No.l and TRACT No. 2 contain a total of approximately 848.8 acres of which
approximately 48.5 acres are municipally owned.
Exh i bit B: Westpark TI RZ
This map is a graphic representation prepared by the City of
Denton and is intended for use only as a reference. Data
depicted is not guaranteed for accuracy and may be subject
to revision at any time without notification. A Registered
Surveyor for the State of Texas was not consulted. For
Survey level accuracy, supervision and certification of the
produced data by a Registered Professional Land Surveyor
for the State of Texas would need to be pertormed.
0 412.5825 1,650 2,475 3,30Q
Feet
�� i in� esounaary
;: Property Description '
, - -__
Govemment '
� � � Real Acreage Rangeland
Commercial Vacant Lot �
�� - DENTC)N
_ Real Farmhouse
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• I�rojec�t Plan (see �`Pr�jec� Plan" tab)
• Finance l�lar� (see "Fii7ailce Plan" iab)
City �f Denton — TIR7 #2 - ru�e � �f 8
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��ne �i�y c�f �3��to�9 T��as pa°�}����s to �st�b�ish a�'ax Ir��r�r���t �2ei���stm�nt Lc��e
(<`�'Y ") �c�r t�� p��°p�sse c�f d�d�c�tin� ��� ir�crease �n tax r�v�r�u� g�����t�d �vithi� �h� �I�,� tc�
p�°ovide �'�nc�s �`�r pa�bl�c �r�irastrizct�are ta encourag� ac�elerat�d deve�oprmer�i �� �1�� l�r�est
i����strially z�n�d ar�a w��hir� �l�e City. '�'�� `Y'� � c��sists �� ap�rc�xi�ate�y �0� a��°es ar�d is
mo�°e �lly d�scrbb�d ir� P�^oj�ct Plan E.�hibit �.
, ��, , . � ;' , ��, • - � ���� � �, , - � - - i �
City in an effort to si�rrculate new higher val�ae, industrial dev�lc�pme�nt which �vc��ld b�a�efi� and
be inceniiviz�c� fro�n the pro�os�d p�ablic infrastru�ture imprc�veme��s, It i� e�peci�d �hat the
`lI� w�11 �xist for tweniy (25� years or the daie wh�r� al� project c�sts are paid, �hichev��
c�rnes �rst,
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area is ar� irld�sirial p�rk �i�a� is gener�lly u�de�e�op�de Res�d�niial and r�ul��-
family develop�ae�t are not ia�cluc�ed in t�i� lis� of cl���bl� prc�j�cis a�� TIRZ
fu�zds vaill n�st be �ased to reflrnbur�e the cos�s associated with �ny a°esid�n�ial or
m.ulti-fa�i�y developrnent,
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� 1'�ojeci Plczn �'xhibit: � shavvs ar�ticipated �'u�ure L�d �Jse �uiih�n i11e TII�.
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� Arny c�a��es to ��des, or�ir�a�ces, �sr �as���° p�a� �s � r�su�t c���fi� c�eatio� o�f
t%e f���� wil� he r��c�� �hr��gl� �h� ��a�dard proc�ss �d �r�°c��ed�r�s of ���
Ci��y.
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,., ,� ri, �,� �1- ��
� Nc�n-pr�ject costs within �h� TIIZZ are thos� Il�frastru��ur� c�sts n�i p�id fcsr
by thc '1I . T�iese costs w�ll flr��l�ad�, buti are ��t li�ited �� stre��s, �ati�ities
and drain�ge asso�iated �vith resid�n�ial �d mu�ti-far�ily d�v�lc����r�9 0
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■�ltho�gi� �ot aniicipatcd, in tl�e �a��cess of deve�o�ai�g thc `�'�I�, any
����ca�ion will be rn�de throu�h �he stand�rd �Srocess a�� �roced��s of the
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8
�"��ro��G:���""➢C' ���6�.1"� — W����''�:"�5�6 "�"����'a 1��ro � � _"��C���Cr�,Y�"�'
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�r c� ��m�
�3�;��l�T�I� a� ��e sc��tk�vves� �c�rn�r �� tI9� 9.27 ac�°� T, �'c�by, �'�°a�� 4 ar�d t�e ���t�a �°��ht-�f
�aay ]a�s� of A���r� R�ad, �h� PO�TeT� �jF' I�F'C��[1�111�(�;
�'��El°�TCE, r�ort� al�r�� tl�� �a�st ba�n�ary of the 4.27 ���� T. foby, '�ra�� 4 t� �ts norihvv�s�
ccrr�er �r�cfl �h� s�uth��s�: bo�r�dar� of �l�e 41.629 ac�e T. �'�by� Tra�t 3(L�D��ton T���aci��l�
�ar�art),
T`�I�N��, nortl��vest a1on�; th� sc��th�vest bour�da�y of the 41,629 ac��°e �'o T��y, Tract 3(�eni�n
I�unici�al Airpor�) to its southw��� corn�r �r�d the �ast �ghi-of-�ay �f S�b�e �oad;
11�IJ�l�tCL;9 �orthvv�sterly alon� �he ��s# right-a� way of S�bre IZc�ad ar�c� the �v�ste�°ly �o�ndary c�f
ihe 41.629 acre T. Toby, �'ra�t 3(Denton Municipal Afl�p�r�) and ihe 66.946 a��°e �'. Toby, �'�°ac�
2�o the northwest coa-rier of th� 66.946 acre T. T'oby, �'raci 29
T'�IFI�ICE, east alon� th� north b�undary of the C6.946 acre '�'. 'I,�by, `�ra�i 2 i� �h� south�ves�
cc�rner of th� � 4�.5��1� acre J. Scott, T�°aci 1;
'T�YEI`�C�, r�c�rth along th� wes� b�undarg� of the 14$.5�03 acre J. �cc�t�t, Tract 1 to its n���hwest
�orner and the so�th x�ght�of-vv�y o� Ji� C�ristal Road;
TE-IFIVCE, east alon� �he north boundary �f tlie 14�.SK03 �cre :�. Scot�, Tr�ct 1 to iis r�o�heast
corner anc� the west righ�-of-��y of i��stern I31vd.;
TI�EIVCE, daz� east across Western �lvd. to its easi right-of �ay aild t�e not-°thvaest corner of the
20.7207 acre �. �acon, Tract 19
f�,' i� • �� � � r s'
� � i i.,. �� 1 �� �'� � . �• � �
����• - � r
Y��I�;IVCE, n�rth al�ng the west b�u�dari�s of �h� 24.9953 acre �.�.b., Traci 15-17, i�e 39,999
acre �.b.b., I'ract 1� and tk�� 10 acre �.bob, �'ract 21 � to tl�e r�orthvaes� co�mer of the 10 acre
�.h.b, 'l�r�cg 21a;
' � � + • � �� �4�
• �, -. � � � ��r � � �, � ,� I^r i i , ".
T'��EN�E9 easi alc��� th� nc��°tll bcs�ndary �s�` g�e 39.999 acr� �3.b.b.9 'Tr�ci Y� tc� ��s n�r�heast
corn�r a�d tl�e west bc��xndary �Fthe 43.3069 a�re I3.b.b, Traci 12-149
T'I��1���, north along �he dvest b���d�ries af th� 43.3069 acr� �.i�,b, Tr��;t �2-14 �nc� th�
19.5i3� ac�e �.b.b, T'ra�t l l. to t�e r�orthw�st c�rn�r c�f t�e 19.573� acre �,b.b, �'r�c;� 1� a�d th�
south right-of-vvay �f �JS ��i��w�y 3��;
�,
�
]�1����,�;""��° �'��a<�1"� w... �l�l�"�'�,�� "�':��� 1��, � �'1��'��I�llfi�,� "��'.
,; � � i �� i
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,��i I �'�.� .�����.� - i�, �- ��. -i', . .. � ..;. ,��,
4'�}=,���, s�utheast�rly al��g t1�e east b�u�d�r�es �� th� �9.573� �cre �.b.b, �'r�ct 11 argd th�
43.3069 �cr� �.b.b� �'ract 12-1��, �or�ti��ir�� �es���°ly ala�ag �h� s��t� h��and��°y o� �h� �3a3069
a��°� �3.b.b, ����°ac� � 2-]�4 �o its �o�thr�es� �or���° and th� south�ast corn�� c�f the 39.�99 acre J3ob.➢�9
�'�°��t � 4;
TI-IE1V(:E; �av�st aflon� i�ae s�aai� boup7da�°� o� t�ie 39.999 acre �.b,b, �'ra�� 1� to t�� r�s�rtheas�
corner of tfl�e 24.9953 acre �.�.b,, 'Y�'ra�;i � 5-17�
T�IENCE, south �long the easi bounciary of ihe 24.)�53 acr� �i.b.b.9 1�rac� 15-�7 t�� its s�u�hea,s�
co�°r��r ��d the �c�rth r���t-�� way caf ���n �hrist�l I�oad;
T���IoTCE, ��sgerly alcsng th� north rigl�t-of-�ay c�� Ja�n Christal �Zoad t�s the n�rt�ivvest cc�Y-r�er of
th� 16.3051 acre Jo I'erry, Tract la9
TI�EI�IC;E, northeast�rly, south, east, ns�r�h and east along th� north bound�ry c�f� the 16.305 � acr�
J. �'erry, Tract l a in its north��st co�ner;
Thence9 south aYc��g i:he e�st bo�nclary of i�ie 16.3051 acre J. �erry, �'�acg �� to ihe n�a°ih�uest
cc�rner of the 1�.3427 a�re E. P�zchalshi, Traci 295;
TI-IEN�E, east a�or�� the n�a�th b�undary o� th� ��03427 acre E. Puchalsl�i, 'Y�r�ct 295 to its
�orih�asi cornerq
TI�EI�TCE, so�theas�erly aloi�� �e east bou�d�ries o� ihe 1�,3427 acre Eo Puc�a�ski, T�aci 295
and the �0.347 acre �;. �uchaiski, Tract 295a to iis sc,utheast corn�r and ihe nc�r�heast corner c�f
the 31.0 ac�°e E. Puc�halski, Tract 2y6;
TI�ENCE, sou�heasterYy, vvest and scaut� along t17� east bound�ry of �he s�.0 acre E. Puchalski,
Trac,� 296 tc� iis sc�utheast corn�r and the nor�tl� b�ua�dary of the nor�h �art �f tl�� 31.305 acre E.
l��a�halski, Tracts 527, 52�, a�d 529,
THF,NCE, e�sg al�ng the norih bo��adary af ih� �orth pa.rt c�f the 31.305 �cre �. Pu�fl�a�ski, Tracts
527, 52�, �nd 529 to its northeast �orne�°;
'Th�nce, s�uthw�st��°ly a�ar�� the easi b�a�r�dary and west a��ng the south bound�°y of the �oa-th
p�ri �f t11e 31.305 �cre �. Puc�ialsk�, T�°acts 527, 524, �nd 529 tcs th� �ast rfl�h,t�c�f vvay of
�'r�ci�n�n �Z��d9
T��NCE, west acrc�ss I��ecisflo� Ro�d to flts vvest right-of vvay and t1�� southeas� c�rcr�er c�f tl��
173vO5S acx� �/��� �'ark l�ddition, �l�ase 2, �l��k A, I,o�t 2��
T�IEI�TCF, ��st along �he so�tl� boundary o� the 173.055 a�re ��st P�rk C�dditio�, �has� 2,
E�fl�ck A, L,�� 2� �o the �c��°theast cc�r�er ��° th� 5.922 �c�°� West Park A�diti�r�, �h�s� 2, �lock �,
Lot 3;
�
������""�° ��,��..�� ��.]°�'�"�1�! "�C"���� l'�(��w � 1��:�,1����C�i�:���'
�`��l�CE, so�ih anc� ��st al��g the �ast and souih b�aa��a�°y c�f �h� 5.922 acr� Wesi ��rlc
�dcfl�tion, Phase 29 �lc,c;k A, � ot 3, cor��in�nn� �est alc��� �� soa��h bou�dary o�° t�� 6.��9 a��°e
Ra �e �J�flls Ia�t�r�h�n�e, �lock 1, R,o� 1(C�i�y of �7ent�r�) �o the ��st bou�da�°y c�f the 173.055
acr� �3Je�t Pa.�k �ddition, �hase 2, �l�c� A, �,�� 2a;
7C��EI�TCE, s�u�k� a�c�r�g t�i� east boundary c��' �:�� 173.�`5 �c�°e ��s� ��r1� Addi�flo�9 �ha�se 2,
Ei����� �., �,ot 2a t� its sc�utl��ast ��brfl�r an� t�� a�oa�l� rb���-c�f��ray c�����°��rt �Zo��,
1'l��I�IC�, w�st al�n�; the �c��9h ri��t-ai �aay o� A��p��°t �oad and t�� scaa�th b���dary c�f th�
173.055 acre West �ark AddLt�an9 F'hase 2, �lc���C 1�, �.c�� 2a tc� �is so�a�h�v�st �crrner and �h� �ast
r�ght-of �vay of Westera� �lvd.9
TH�I�IC:�,, va�st across Wesi��°� �lv�. ic� its �est rflghi-of-way and t1�� souiheast �c�rn�r of t1�e
66.946 acrc `i�. '�'oby, Traci 2;
T�IEI�TCE, �res� �long th� north righi-of=way ��` I�ir�sort �c�ad and �h� souih boazndaries of the
66.946 �cr� �I', Toby, Tr�ci 2, tl�e 41 a629 ac�re T. �'o�y; Tract 3(�enton Il�Iianicipal �1i�c��°i} a�d
ihe 9,27 a�r� T'. Taby, Tract 4 and the �O�T OF �E(� I�TC'�.
T ��I' ��0 2
�I�he entire south part c�f the 31,305 �cre E. Puchalski9 Tr�ct 527, 52�, and 529.
i ' � % `' a= ., ' ' � ,. �, • . ' ' :
r t . •
�
PROJECT PLAN - DENTON TIRZ NO. 2 PRELIMINARY
EXHIBIT B
TIRZ Boundary
Exhibit B: Westpark TIRZ
This map is a graphic representation prepared by the City of
Denton and is intended for use only as a reference. Data
depicted is not guaranteed for accuracy and may be subject
to revision at any time without notification. A Regfstered
Surveyor for the State of Texas was not consulted. For
Survey level accuracy, supervision and certification of the
produced data by a Regfstered Professional Land Surveyor
for the State of Texas Uvould need to be performed.
0 412.5825 1,650 2,475 3,300
Feet
,� � �.� ��u � �uu� �
i Property Description
Govemment '
' -- ,
Real Acreage Rangeland �
�____ �
_ ' Commercial Vacant Lot �-L�
i Real Farmhouse nENTON
0
PROJECT PLAN - DENTON TIRZ NO. 2 PRELIMINARY
EXHIBIT C
Existing Land Use
Exhibit C: Westpark TIRZ Existing Land Use
aepictea is not guaranteea ror accuracy ana may oe suo�eoi __ y
to revision at any time without notification. A Registered Government �
Surveyor for the State of Texas was not consulted. For __.__ ;
Survey level accuracy; supervfsfon and certifcation of the !____ Real Acreage Rangeland ;.
produced data by a Registered Professional Land Surveyor _____ '
for the State of Texas �vould need to be pertormed ' Commercial Vacant Lot �
0 412.5825 1,650 2,475 3,300 Y- Real Farmhouse llEN'1'ON
Feet �'-
7
���:?Po�..���«.WW's�P�.� UC" I�..el`9h.!."tl "°"' 1���1�".a.l'Mp���M'�"N JLL.9W�.�"Nk�d i.���w .�w° �J��.�J�weW.l'b'..@.Jll.1."��.��F
�1.n1�..��N.�l�� ��.
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._..... P'�0���'�' �S"T�l�A'I'E� ��ST �M
St�e�t Irr����v�rme��s �.DO
�Jti�iiy / I7raina�e Irnprave�n�nts 5a00
5uppor� for Ind�strial Projects 1.2�
T'C>T�3., 14.2�
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IndustrIlal F�ro`aecis: �ay include �rar�ts, �c�ans a�d s�rv��es f�� p�ablic and pr�vat� d�ve�oprr�ent.
Elggib�e TI projeLt cs�sts are n�t lirr��t�d to public uses �ad rr�ay also include projects that
siirn�late ecor�omflc dev�l��rne�t. Chapter 3$0 of the L,��al Gov�rn�neni C�c1e grants
munbci�salflties in Texas �t�ie a�ihority to offcr �ranis ar�d �c�ans c�f publ�� funds �c� stim�alate
ec�nom�c d�velc�pr�ae�t.
:
PROJECT PLAN — DENTON TIRZ NO. 2 PRELIMINARY
Project Plan Projects
Exhibit D2: Westpark TIRZ Projects
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AIRPORT
EXHIBIT D2
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�egena
This map is a graphic representation prepared by the City of' 1 j'
Denton and is intended for use only as a reference- Data '�� TIRZ Boundary '
depicted is not guaranteed for accuracy and may be subject ___.. �
to revfsfon at any time wfthout notification_ A Registered Future Road or Planned Expansion
Surveyor for the State of Texas was not consulted. For � +
Survey level accuracy; supervision and certification of the� Existing Rd. not to Standards `
produced data 6y a Registered Professional Land Surveyor� I —_— `
for the State of Texas would need to be pertormed.T �
0 445 890 1,780 2,&70 3,560 � Proposed Improvements DENTON I
Feet
7
PROJECT PLAN - DENTON TIRZ N�. 2 PRELIMINARY
EXHIBIT E
Future Land Use
Exhibit E: Westpark TIRZ Future Land Use
Denton and is intended for use only as a reference. Data
depicted is not guaranteed for accuracy and may be subject
to revision at any time without notification. A Registered
Surveyor for the State of Texas was not consulted. For
Survey level accuracy, super�ision and certification of the
produced data by a Registered Professional Land Surveyor
for the State of Texas would need to be performed.
0 412.5825 1,650 2,475 3,300
Feet
! Property Description - �
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, E_____, Industrial Center Employment� �
�Industrial Center General ��
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I� DENTON �
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�i���f��-��7� ���a���c�7������1�����
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fs�rmati�n �f the T�x �rrcr�n��ng ��in��es�r�ent Zon� (�'I�Z) c;��ald ha.v� o� �h� prc��e�ty d�scrflbe�
im F'inance Plc�n �xhibit: 14 and s�i��n �r� �'aa��nce Plar� Exhzbii.• 13, �t vvil� �1�� desc�°�b� h�va that
�p�ct �ar� b� u�iliz�� i� �nha�c;e �he ax°�a ��d �°�gio� tha°��g� ��ve�a���� the r�s��c�s �sf ���h
�ntity that pa��cip��t�s i� th� pr��e��.
j,�.�N I:��, �� �� I,r, �# 'ir � �`{, � I "dL ���'�a 1 �;�
+ ( 1 �' �, l� I, �s r,� "r, ,, ; !'i i, f.ri
• Capita� cost�, uncl�ding �he actual costs of t�ie constructio� of public �vo�°ks,
p�iblic irnprov�rnents, ne�v b�aldi�gs9 str�ct�r�g9 and f�tures� and the actual
�osts csf the a�qa;�isition �f la�d and the cleaa°in� �d �;raci�n� of fland,
� Firra�cing c���s, includi�g al� inierest paid tc� holders csf ev�de�ces c�f
ir�de�tedness or �ther o�li�ations issued to pa� for project �osts ar�d any
premiurrr paid c�vep thc principal ar�nount o�° the obligaticrris b�caus� �f the
red�rn�tion of the c�bl�g�tians before mat�riiy;
� Any real �roperty assernbly costs;
� Profes�ion�l servic� costs, ir�cluding those inc�rred 1`or arc�itec�ra�, �la�n�ng9
engineer�ng, anc� legal advise and sea°vic�es;
• �riy re�ocatior� costs;
• Organizational co�ts, includi�g costs of condu�ciin� env�raa�m��tal ��npact
studi�s or other studies9 t�e cc�st of �ublicizin� the c�°eat�c�r� �f the �'I , and
the cost of imple�enti�g the proj ect �lan �or the TI ;
• Interest bcf�re and durin�; construc:tion and f�r on� year af��r cornpl�tion �f
c�nstructio�, whether or a�ot c a�r�ialized;
• The c��ant of �my contributions made by ihe m�ungc;ipa�ity fro�n general
rever�ue fc�r �he irnpleme�tatio� o�the projeci �lan;
• I��pu�ed adrninistra�ive costs, including reas�nab�e cl�arges for t�e iiraie sp�nt
by ���loy�es c�f the mur�icipaliiy rn cc�r�nectiom w�vith t�ge irnpl�sr��ntaiao� of a
p�°�jeet plar�9
� I�c cos� �f operaiing the T�R� and pr�ject facili�i�s; and
• Pay��nts made �t the discr�tion t�f the �ov�rnirng; bac�y of tl�e rnun��ipalit�
th�t �h� rr�.un�icip�lity finds ne�;�ssary or �onver�ie�� �o t�� c�°�ation c�f t�� �'I _.,
or to i�ic gmp��r�er��ation o��he pr�jec� plans fs�r �he �'��.
�°�1'���.���'ll� ��'L!�� -- �:�1�^;i��"��w �['1���.� ��a, :�' 1������C��1�t��,"�
iC f"' .�� � ilil e' If�� r�r i,'rq� ��i� �, ,� r� �, l�r, .1„ I.� I'r '�K, ',�a ;l�'
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u fG�'G, ��, ' �{'?' �„ [a"tr, A; ;�- % � �s���r � �/,
2o Es��ffana��� �'��,���� C'��t ��' "�"� �, ��n�fla�d°na�� a�l�i��str����v� ex��nses.
� Fr�ject cos�s ar� �sti�ated at �ppu°ox�r��te�y �14,75ar�bllion dallars. �pe�ific
cc�s� �s�:��ates ar� �clud�d �� �'incrvac� Plan Exhi�it: �'.
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ana�ysis has �e�n corripl��ed a�d is �nclud�l as
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5� "Th� ti e�he�a �°�l�t�d costs or onet�� o��i�a����s ar� to be �nc�nr°�°��a
• I�l�ase re�e� to �'inance Plczn Exhibit� C' %�� deiai�s �egar�ing ihe �e of
ign�rove�en� cosis a�tic:gpated, 7'l�e I7��elc�per intends to begir� cc�nstructi�sn
of the �roj�cts in 2013, vaiih a��rnpletior� da�e c�f 2013 0� 2414, ua� TI _.
r�i�b�arsernent p�y�n�nts wgll be provid�d to the �7e�elop�r or�ce the
miniinurt� i�provements are completed.
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7m `�`fl�e c�rrent t�tal ap��°ar�e� valu� �f t�xa�le �°e�l �a°�perty �� ��n� T'��Z.
� The current appraisec� base value of th� t�x�b1� re�l property bn �he �'I�
usflng the 20�2 cer��i��ed va��es �rovidec� by the �7enton Central Appraisal
I�istrict is � 119,45�.
�o 'T�� �s�n��t�� ��g��a��ed va�u� o� t�e nm�rov��n���� ��a �h� '�'��2Z d�r��� e�c�
yea� o�' �ts ex�st��cem
��'l�e esiirna��d appr�is�d �a��e of the i��resvernents �n the �'I� pe� ye�r is
listed i� the fc�l���rir�g ]��NANCE PLAI�T TA�LF 1.
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5�]F�.IZ D��I�I,��- LAi�TD A.ImTN�JAL ��JI��.TL�'�IVE �ZO�,L,➢3A�K CiJ1��J�,�1T'�VL
�IE?�T'� VP�L�J�ITIC�l�i �A�.,�J�'T�C�%T 1�0 � ��A�h�
zolz
20 P 3 �0.72 �0,72 �0.72 � 1.44 �2. l 6
20Y4 �11,59 �0.72 12.31 �3.03 2.16 14e47
2015 11.59 ��072 12.31 25.34 2,�� 27.50
2016 11.59 �0.72 12.31 37.65 3.60 40.53
201i 11059 �0.72 12,31 49.96 3.60 53.56
201� 11.59 �0.72 12.31 62.27 3.60 65.�7
2019 11.59 �U.72 12.3� 74.5� 3.60 7$.��
2020 11.59 �0.72 1231 �6.�9 3,60 90.�9
2021 � 1.59 �0.72 12.3 � 99.20 3.60 102.�0
2022 ��.59 �0.72 12.31 l I 1.51 3.60 ] l 5.11
2023 1�.59 �0.72 12.31 12�.�2 3.60 12'7.42
2024 11.59 $0.72 12.31 136.1 � 3.60 139.73
202� 11.59 �0.72 �2.31 14�e44 3.60 �52.04
2026 11.59 $0.72 12.31 160.75 3.60 Y64.35
2027 Y I.S9 �0.72 12.31 17�.06 3.60 176.66
202� 1ll.59 �0.72 12.31 ��So37 3,60 ���.�7
2029 11.59 $Oo72 12.31 197e6� 3,60 201.2�
2030 � fl.59 $0.72 12.31 209,99 3,60 213.59
2031 11.59 �0.72 12.31 222.3U 3.60 225.90
2032 11.59 �0.72 12031 234.61 3,60 23�,21
2033 �].59 �0.72 12.31 246.92 3.60 250052
2034 11.59 �0.72 12a31 259.23 3.60 262.�3
2035 11.59 �0.72 12.3� 2i1.54 3A60 275e14
2�J36 1 i,59 �Oe72 12,31 2�3.�5 3.60 2�7.45
T'O'I�AI�., 266,57 �17.2� 2�3.�5 ��240$
��i�,�I��.�;�°� ��,,�.1� _... �➢�1"�"�'d�� �l�'°�fl�;� ��m � ��.����� ��,�����
`�'h� estarraate� �r�ual i�cr�rn�n�al f�zmds ava�llabl� fr�rn fwi�r� deve��p�e�� in tl�� T'I ar� listed
ir� th� �`�l�o�via�� t�b�e,
1�4���.A10..:s �
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��T'Y �C)LII�i'�'� ���'�I., ���IY2Z C�TI��J]L,�'�'IVE
�lEA� CO1�TT12���J�'ICJT�1 �ON'T�I��J�'�OI�T CO1�TT�ZI�[7�T�O�T� T'�
�� $K �I� �=C�1�I � �3�JTIOI�TS
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2012
20�3
2014 �So97 �0.�2 �b.79 �6,79
20� 5 41.92 14.i5 56067 63.46
2016 770�7 2�.6� 106.55 170,01
2017 �l �3.�1 42.60 156.41 326.42
201$ 147.7� 56.53 204.31 530.73
2019 1� 1.74 70.46 252.20 7�2e93
2020 215.�0 �4.39 300.09 1,0�3.02
2021 260.52 10�.74 369,26 1,452.2�
2022 295.96 124,15 420.11 � q�72.39
2023 331,40 �39.55 470.95 29343.34
2024 366.�4 154.96 521.�0 2,�65e 14
2025 402.2� � 70.36 572.64 3,�37.7$
2026 437.72 1�5.77 623.49 4,Q61 a27
2027 473.16 201017 674.33 4,7� 5.60
202� 50�.60 216,5� i25.1 � 5,46007�
2029 544.04 2s 1.9� 776.02 6,236.�0
2030 579.4� 247.39 �26.$7 7,063,67
2031 614.92 262.79 �77.71 7,941.3 �
2032 650e3h 278.2d 924.56 �,�69094
2033 6�5.�0 293.61 979,�1 9,�49.35
2034 721.24 309,01 1,030.25 � d�,�79.60
2035 756a6� 324.42 1,0�1.10 11,960.70
203G 792.12 339.�2 1,�31,94 13,092.64
2037 �27.56 355.23 1,1 �2.79 14,275.43
TC7T�L �]Og033.47 �4,241096 $14,275,43
2012 TI �� COi�`I'���LT'TIOIV TA� '�'E / �l �0
��I;�J�TI(�I�t
Tax R.at� / Ir�ars �- 10 �'ears 11 e25
�100 �alu�tic�n
C;ity csf I7e�ator� �Oo6�97500 �0.2759a0Q �0.2$79()00
I�e�tc�r�Cc�ur�ty �0.2�2�670 �0.�13146�_ �0.12�146�
16�` �d.`��1"W�.W''� �J�.�a�.l.'� """' .�.�...'�1.'W'���1� �llL Ut�.�.l A.''��ro �r ��ID'�llL.dllL.l.&`11L�1..'M�J�.�a.�r
` � ��r ' l� I' I r q 7� i p �
•'T�e 7['I� �ras created im 20�2. �t i� p�°c�posed that �h� �� exgst f�r �wen�y-f�we
(25) years wnih te�°mbnatio� o� ih� TIRZ s�� as 2�3� ar th� ��ie wll��n ��� p�°oj�ct
costs ��e g�aid a�d aa�y d�bt �s r�tirec�, �v�ich�v�r cor�es �"ia°st.
0
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'�' ��' Nom�
�EG �T� a� i�se s���h�vest �orner of t�� 9.27 acr� T. Tcsby, 'Tra�t 4 a�d th� r���t� �i�l��oo�
�r�y lflne �� Agry��� ��ad, the ���T�' ()�' �3�;� �IC�;
T� F-I�I�tC'�r,, narth al�n� ��t� w�si bc�u�d�r� o� th� 9.2i a�r� To Toby, �'r��t 4�c� �ts nor��vv�sa
�c�ra�er and the southw�st bo dary of tl�� 411,629 ��r� I', Toby, Tract 3(I7�r�t�r� I�u��cflpal
�irpo�t) �
'T�IFI�TCE, northwest al�ng th� so�th�est boundary of �he 41.629 a�re Ta �'oby, Tract 3(I)�nton
IVlunici��� Airpor�) to its s�uih�esi corner and th� east ri�h�-of �vay of Sab�e 1Zoad;
'T�IEIVCE9 north�vesierly �long th� cast pight-of way of Sabr� Ftoad and the �a�st�rly �S�u�d�ry of
t�e 41.629 acr� T. Toby, Tr�ct 3(II�cnton l�un�cipa� Ai�ps�rt) and th�e 6ho946 acre `�'. 'Toby, T�ac�
2 tc� t1�e ncsrthwesi corr�er c�f the 66.946 acre '�'. Toby, T'ract 2;
T'I'�ENC�;g east along �he �orth bc��nd�ry �f tl�e 6609�6 acre T. �'oby, �'�°act 2�o the �outhwcst
�orr�er a� the �4�.5�03 �cre J. Scott9 T'ract 1;
T�N�F, nor�h a1�ng the w�st �ound�ry of the fl4�.5803 aare J. Scc�t�, "Tract 1 to its no wes�
co�er and th� sc�uth ri�hi-of-way of Jim Christal lZoad9
TI��I�TCE, east along the nor�}� �ound�ry of ihe �4�.5�03 acre J. �coit, �'ract 1 t� its r�ortheasi
corner and �h� va�st right-c�f=way of Western �lvd.9
T'I�EI�C:E, due �ast acr�ss �lestern �lvd, to iis east ri�ht-of-�v�y and the r�ortl��vest cc�rner �f` the
20.7207 acre 3. �acon, "I'ract 1;
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�'I-IEl�TCE, ncsrth al�r�g the �vvest boundaries o� the 24.9953 ac�°� �.b.b., Tra�i 15-1%, the 39,999
acre I�.b.b., T'ract 1� ar�d the 10 acre �.b.b, I'ract 21 a to th� n�rthwest carner �f the 10 acre
�3,b.b, 'I'rac� 21a;
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- , � , . � �� r * , �� , rt � � �� � s� �� � r �,
"I,�-�ENCE, east a1�ng t1�►� mcs�i� bo�ndary �f the 39.999 a�re �3,b.b., '�'raci l R to its noriheast
co�er ��d th� wesi bc�ur�dary afth� 4J.3069 a�re �.b.b, T'ract 12-149
T`��NC�;, ra�rth alortb the wesi ➢�ou�dari�s of th� 43.3069 acre �.b.b, �p�c� 12-14 ar�d th�
19,5"%3� acre �ob.b9 Trac� 11 i� th� nart��suest cc�r�er c�f the 19,573� a�re �,➢�ob, �'r��:� 1 l�nd the
so�atl� righ�-c�f way of US I�i�h�ay 3�09
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T�I�l�TCF, s��ntheaster�y alar�� ih� ��st �c�u�d�ies c�f t�� 190573� acr� �,b.bg 'Tra�t 11 aaad ��e
4�3.3069 acr� �.b.b, �'rac� 12-ll4, �ontinui�� vves�exly a�or�� �� south bo�r��ary �� i�i� 43,3069
���°e �3.bob, T�°�ci Y2-�4 to iks s�ui��v�s� �car��r a�c� �1�� s��ath��st co��� c�f the 39.999 ac�� �.bob,
�g�C� � �9
T�F;I�TC�;9 ��s� alo�� ahc s�uth bo��dary c�f the 39.999 ac�°e I3.h.b, Tract �� �to t�� �or�h�ast
c�ra�e�° of°�he 24.9953 ac�°e �.b.b.9 'Y'�°a.ct � 5-17;
TI���ICE, south a�on� the east boundary c�f ti�� 24.yy53 �cre �3.b.�e, T'�°a�t 15��17 io i�s s�utheast
�orner arrc� tl�e n�r�h right-of-vvay c�i 3irr� Chr�stal I�oa�;
T�I�NC�, easte�ly alon� the �c�rth r��ht-c�f-vvay of Jim C;hristal �2c��d to th� r��rthwest cc�rner of
t�,e 16.3051 acre J. �erry9 �'a°act la9
�'�I�1V(:�;, northeasier�y9 ss�uih�, east, no7°�h arbd east along th� nortYa bo�ar�d�g°y oit�e 16,3051 �cre
3. Pcrry, 'l'ra��t 1 a to its northeast corner9
Th�nce, soutl� alo�g the east b�undary of th� 16,305� �cr� ,D. P�rr�yy, �'ract �a io t�e northw�st
cc�rner c�f t�ie 1�.3427 acre E. I�uchaYshi, Tracg 295;
T'I�ENC�, east a�c�ng the nor�h bo�ndary of the 1�.3427 acre �,. Puchalski9 �'rac� 295 to �ts
nort➢�east �c�rn�r;
T'�IE1�T�E, sc�u�heasierly al�ng 1he east boundaries c�� th� 1�,3427 �cre E. �uchalski, Tract 295
�c� the 10.34i a�re �. Puchalsk�, T���:� 295a to its s�uth�ast cor�ner and �he narthe�st c;orrfler of
the 31,ii acre E. �aachalsk�i, Tr�c� 2969
T�-IEIVCE9 sout�ieaster�y, wes� a�d so�th alc�ng the east bo�ndary of the � 1.0 acr� Ee Puchalskf,
Tract 296 io its s�ut�eas� c�r�er and �e no�h bounda�y �f tl�e north �art of �l�e 31.305 a�re �.
��acha�ski, T�acts 527, 52�, �rgd 529;
TI�El�TCE, east alc,n�; the rao�9� bc�undary of t�ie n��t� �art c�f the 31.305 acre E. P�ch,alski9 Tracts
5279 52$9 �nd 529 tc� its nartheast ��rner;
T'he�ceq sc�ut�westerly al�ng fh� �a�t bounc�ary and �rest along t1�e soutl� bo�.r�dary csi ihe r�c�gth
p�t �f the ,�.305 a��°e F. Puchalsl�i, Tracts 527, 52�, and 529 io the easi ri�l�t-�f-vvay crf
I�rec�sion �2oad;
TI�EI�TCE, vv�st acrc�ss �recision �aad t� i�s dvesi righ�-of-way an� �h� southeasi �or��r of the
�73.05� a.cr� West �'arlc Additi�n, Phas� 2, �lc�ck l�, �.�t 2a,
TI��1�CE, �est al�n�; the s��t� b�s�ndary of ghe 17�.055 a��°e �est �a�k Add�i��r�, �'�as� 29
�31ock A, �.c�� 2a t� th� northeasi c,o�rae�° o�t�re 5.922 ��re i3J�st �'ark Add�tio�9 Phase 29 �lock 1�,
I,cs� 3;
«
➢��S�d�l��'�� ➢��C��,:� _. ���;%��C°��!` "�"��� ��:�� � �������C��.1�:'�r
T�-I�1�T�E, s�ug� and ��st alo�� t�e easi a�d south bo�andary c�f �h� 5.�22 acr� �T�si Par�
Addbtic�m, �hase 2; �31��k A, �,ot 3, �or�tia�uing �v��t alc�rag t�e so�th bou�dary �f t�ie 6.��9 �c�r�
�, �7. �Jells Int�rcl�an�e, �31ock l, Ls�i 1(Cit�y� o�f I�en��r�) to t1�e �as� bc��ndary c�� th� 173.055
acre �aT�st Par� 1�ddi��on, �h�s� 2, ��ock A, ���� 2�;
�'I�El�i��, so�ztl� al�r�� �h� e�st boaar�da�y af the �73.�55 acre Wes� P�rk I�dd�t�or�, �'hase 2,
�locic �, �,at 2a t� ��s s�utheas� �o�ne� ar�d th� �nor�l� ri�Y�t-a�-�ay ofAirpc�rt R��d;
�'I�EI�TCE, w�s� ��c�mg ��i� n�rtl� r��ht-�f-�aay o� �,�rpera°� ��ad and th� sc��th bour�da� of ���
173.055 a�re West �a�°ls A.ddi���n, Phas� 2, ��ock �, L,�� 2� �� ��s sc��ntliwest ��sr�er a�d t�e ea�i
�°��ht-o�=way �f t�I�st�rn �lvd.;
�'IIEN�E, w�st across Wes�exn �lvda �o its w�si right-c�i �ay aild th� sc��th.�ast cs�rne� �� the
6609�6 a�r� "I'a Toby, �ract 2;
� � � I � � � y ���� . ,.� -. ,���
s� I r� � �t � i�� �r; - �� i 4: ��
� �, �, �
'� C"�' l��o 'Z
'�'he entire sc�tuth pari of ihe 31.305 acre F'. Puchalsl�i; Traci 527, 52�, and 529.
1, � i , � � I, r . . • � •
� • I ' � � _
�
FINANCE PLAN - DENTON TIRZ NO. 2 PRELIMINARY
EXHIBIT B
Property Boundary Map
Exhibit B: Westpark TIRZ
1 his map is a graphic representation preparetl by me Gity ot
Denton and fs intended for use only as a reference_ Data
depicted is not guaranteed for accuracy and may be subject
to revision at any time without notification. A Registered
Surveyor for the State of Texas vdas not consulted. For
5urvey level accuracy, supervision and certification of the
produced data by a Registered Professional Land Surveyor
for the State of Texas would need to be performed.
0 412.5825 1,650 2,475 3,300
Feet
Property Description
Government
' Real Acreage Rangeland
�,
, Commercial Vacant Lot �
''i Real Farmhouse nF.NTON
10
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