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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 r � 1 ' �►:: � 'Y' 'r � : 1, ;►i ;��� • 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 £��.���,°�" i '���5� — ���"�"��d '�C���;� i��w :� ��l�l��l���'��."�' �� �j � � � � � � • �� . (�, r /, /, / l ,,. , ,,f., �� f � ,,,,(/ � l '�, -�, r J, !� � , %„ i If l _., �, r �C�C�b��° �� �. 2 f �1 1 � � i � � i � '� % f I �� � i � � � r �f � J �� �; .a � � ��i �� �. ��� ; i % r ' , ��.. , � � % ir....�� i�� ,"f 1 Jf � i � � i� 2, % � / �,', ° �,, ��, ����„�?���J �� � , i i; r'� ,►'> G� 1 ���� � W ������ �� �[����� � "���� 4��� ������r� ��� ��� r� �,�������, °°�°°� 7�d�C�� ���-���ro�����"i� ���a������w����n����; ����«:��,�;'�C ���.��1°"� _...1�1��"�"�1"� °�"��� ��� � �[��'��:o�,�I�����"� ����������° ���� ��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, � ,; � � , �- . . _ . ��� .i��, � - �� . r,!^ ! �` ' ����� r �I r,�;� ,�� �i' ��, ?�� �1„ ,�r; 7 t� � =t,l� ,v, 1; ���"''��? �� �"�fU . ; �� � Xk;.-„s� .'� �,I-, y'„ U,,'1�i,Y ?; � �?� , �. , �� � � � � � � � �u � � � �` 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, � �� �, �� �,I � �-� �r � I�� r, • • � �, � ��� i - � r _. � ! ^�.�� r � I �� ! • � ����� � I � � � � 1'�ojeci Plczn �'xhibit: � shavvs ar�ticipated �'u�ure L�d �Jse �uiih�n i11e TII�. 0 ���.C���'�",C;'�" ���.��.1"� .w_ ��';�"�f"�I'� "�C`���� ]�b�� � ]I������l��S�'.���` � , , . � , � ,. < < , ��� � � � i i i�, � i I tia�a;��� i ��, - 4 �,.i i ��I 1'�i.� i �-,� .� I r�r�- r, F'�I, i r, „�. �� ' ;[�.I��� r � ,., � , r t �, t � , �F � ��d�s, anc� o���� �a�n�Ilp�� ���a�n���eso � 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. �� . ,., ,� 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 �� •r�� �, �� ��!�i,� ,��� �� �; (� Iva. u, r A � ,�; a rr,,;, i,� � � �� ■�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 � 8 �"��ro��G:���""➢C' ���6�.1"� — W����''�:"�5�6 "�"����'a 1��ro � � _"��C���Cr�,Y�"�' f ; I, ��'�f� r����� � ��������������� �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 � � i � � � � , � „ � �. �� ' � � ,��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�� ��. ��Y"()y��� ���� ._..... 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� ,r ,�, , i ' , ����. • �� ,��,. �,�, �� i f�� �it �I M �I � ', • � ' • � � r � � . � IE ` � 1 - ! ' ' i . r' � 1 . �, � � r • � �` • _ _ � «�' �` �` ��� x'. � � f'' � � : � • • � �." � � i ���• � ������• � . ! � .,; � � - �. - �: . � � . • � � � I � � ., f , I � �� I � �... � • � ��. � 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 � � ---- - - _ . __ _ - �- ----------- -- , �, � �r---.._.._..__. ....- �_�.__..'-_ -_._ _ � . ``\ � � %� �V---�_ I ' ` �\ !`__' -`I \ E � - i,i .\ i j 1 � _� a� _�-_- _ -- JIM CHRISTAL � .` �'�'� ��,� . Z � � r"- � w S'_ _ `� � �I II'v`,f - _ I 3I-- -- i1 ��. AIRPORT EXHIBIT D2 ., \- \ -_ _,---:---- ..�`'',` � �� �.,'� � � „✓-� `t\,'1 l � 1 1 ` `� ,1 1 � ',;��,�\1 11�;�`� 1' _ _� \,����1 "! `�,1��'� �� . 1,1 ,, ;, � � _ _ --- — —�� �,` � ;,,, -_=_=; � � ;- O +1 � .9 �, -j +�` `,\ ,�. I " �\ `�-- `' _ _ _ �` I�' � , :' � � �,�� _ % �� � i I - � � _ __ _ I O v� c� ; w � � � � i a__A__ _ --- �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 - � � , � , E_____, Industrial Center Employment� � �Industrial Center General �� �i � I� DENTON � 1� .��. . ��' � �����.�. �� � d'°" �. .� . �....�� � ��t ' 0, �� f � � � ��'� � l �/ O� ���ii / � �'J � /�' �`�� � r � / � % �' ���/ i ill1, i �, / i � 1 a, � ; !� ,, `����1�� r� r � 0 L, JJ e � . n r � r r, �� f : ` L I � % 'L '. ? . � � ! �si : � . ,f.�. � i �, ii ■ /�� � � � � r i �� p, r If % �' ' .�� � � I% � � % � f ( , i i i � '- ��r, � ���i���� �/ � r' r� : I Y ,� J ; �r f d � ������ � ����� �� ���� � ����� ��tl�Q� ��°�����y�, ��� .A. �����s��� °�°� ?���� �i���f��-��7� ���a���c�7������1����� �������1���° �Q��� � ���,� ��; �� �• �� 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�' , 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: �'. ��,� 6 �, <<��;'�i ��ti��, .,,, . � ana�ysis has �e�n corripl��ed a�d is �nclud�l as 6�� t�,� � �; �% 4, �� ,��, -, i,��:•�i� ��„�r• X"l, ,� P �� �, r�� � .,�-� � r_ . 'r . %�� � L �� ����� , � _ _ _ , � � � '�- � 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. n, [„ ,'•., ,' .:,,,,,; �; ,r;-• i. ,;,�,1 as; � �; rr,+ r, � � �,I= _�- x;r ?I;- �t;t, �; `��, rP �.�< �;-, i�,- Ii=, ,, r i I;i ,f;r ; i, I., a <'i �, i y,i � i. I. 1: � 1 1 I; �r; �`. in �' .•'� r� 11` � y . � .', - ' �, � 1 � � , � . � �' �-• + ) ' �. � " Y . - • , I ' � � 'I 1 �' ` � ��� � � x ' : �, � - i � ' • � � , +1 � ;�� •-�+" � �� � 1 �f., i�.� � � 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. � ���t�.6�C"�; I��.od.�� -- ��1�'�'�� "�`�O[�� i����� � ]��,��"�1��.a�i�f�I�d����' "�' ���,�::, � ����5� � � �'� . ��� �� ���� �. ���� � � �' �D ����� � � � '�C�'I'AL TC�Tt��, �'(�'�'r�1_, 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 � � ��� �������������1 �"��� � ��c��r� �� �'�� "�"� � ��� ��'����� � �" ��7 ��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'� �� $K �I� �=C�1�I � �3�JTIOI�TS �� 2012 20�3 2014 �So97 �0.�2 �b.79 �6,79 20� 5 41.92 14.i5 56067 63.46 2016 770�7 2�.6� 106.55 170,01 2017 �l �3.�1 42.60 156.41 326.42 201$ 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 �+1�.��.1��``l�; ��r�iW — ����d"�°��1� "�'���..� 1��� � ��,��.�P��1���� �, ;, � � ��� ����� ��C�� '�' ��' 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; ��, • • � �, ; t ' . • � � � ; �� • a . i � i � ` i . ,� _ � ,, . • , - ,� � c .: , �, •� , I� �'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; - � � � s � � �. � • � . '�� - , � , . � �� 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 � �+°�l��l���� 1��,�� _ ��.�W.�"�� '���.� �1�� � � . ➢����(���1�'�'. �� r � �� � �� � � � �� ���� � � � ��� ' ., ��- �,. i 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 �������w��;°� ���.� -- ��°,�°��� ���� ���,� � ��.�,�.,m�!������ � � ,� . � �� �������� ���� ��� �� �s�°������ c���, �� St���� Irr�p�ovepn��ts a�.� �J��lit�cs �nd �rai�a�� �5.0 Ir�dus�rial �'�c��e��s ��.�,� T'O'�`A�., � 14.2� C � , ,,v rK i r � � ; �� ,�; r � • , � � ����� � � � � � .��� . .�� • ; r ���, � -�; ��;�, _ . x� � �- s -• K� , r � • ��, « - . -� . � , -��� - - �'� - �� �� ,�� � . � .� 1� �•- . � ��. I� � . - � . _ � � � � _ ,, . � �� r � r , � _ _ r �, _ , ; �, � _ � •� � i �,- �� ��� .� � • �. s-� . � -��� - w .��� �� ��-r �r r - � 1� ��;r � �� .�„ � � �� �� �r "� . �� ��- � �. s� -, r �r; a�, ; , , ��� • �,� � r �� �; �,�, • • �