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Home My WebLink AboutPetition for Public Improvement District #2 PETITION FOR THE CREATION OF A PUBLIC IMPROVEMENT DISTRICT WITHIN THE CITY OF EULESS, TEXAS, FOR THE GLADE PARKS MIXED-USE DEVELOPMENT This petition (this "Petition") is submitted and filed with the City Secretary of the City of Euless, Texas (the "City"), by Glade Lifestyle, LLC (the "Owner"), acting pursuant to the provisions of Chapter 372 of the Texas Local Government Code, as amended (the "Act"), requesting that the City create a public improvement district (the "District") to include property owned by the Owner and located within the City, as more particularly described and depicted on Exhibit A (the "Property"). In support of this Petition, the Owner would present and represent the following: Section 1. General Nature of the Authorized Improvements. The purpose of the District is to fund the following improvements (collectively, the "Authorized Improvements"): (a) payment of expenses incurred in the establishment, administration, and operation of the District; and (b) the design and construction of public improvement projects authorized by the Act that are necessary for development of the Property, which public improvements will include constructing an off-street parking garage and the establishment and improvement of a park and park facilities within the District. These Authorized Improvements shall promote the interests of the City and confer a special benefit upon the Property. Section 2. Estimated Cost of the Authorized Improvements. The Owner estimates that the cost to fund the Authorized Improvements is $3,189,179. Section 3. Boundaries of the Proposed District. The District is proposed to include the Property. Section 4. Proposed Method of Assessments. The City shall levy assessments on each lot within the District in a manner that results in imposing equal shares of the costs on property similarly benefited. All assessments may be paid in full at any time (including accrued and unpaid interest), and certain assessments may be paid in annual installments (including interest and debt). If an assessment is allowed to be paid in installments, then the installments must be paid in amounts necessary to meet annual costs for those Authorized Improvements financed in part by the assessment, and must continue for a period necessary to retire the indebtedness on those Authorized Improvements (including interest). Section 5. Proposed Apportionment of Costs between the District and the City. All of the costs of the Authorized Improvements will be paid from the assessments or available incremental tax revenue generated from a tax increment reinvestment zone and from other sources of funds, if any, available to the Owner. The City will at no time be responsible to fund the costs of the Authorized Improvements with any revenue other than paid from the assessments or that which is available in a tax increment reinvestment zone. Section 6. Management of the District. The Owner proposes that the District be managed by the City, with the assistance of a consultant, who shall, from time to time, advise the City regarding certain operations of the District. Section 7. Owner Requests Establishment of the District. The person signing this Petition requests the establishment of the District. Section 8. Advisory Board. The Owner proposes that the District be established and managed without the creation of an advisory body. This Petition has been signed by (1) the owners of taxable real property representing more than 50 percent of the appraised value of taxable real property liable for assessment under the proposal, as determined by the current roll of the appraisal district in which the Property is located; and (2) record owners of real property liable for assessment under the proposal who: (A) constitute more than 50 percent of all record owners of property that are liable for assessment under the proposal; or (B) own taxable real property that constitutes more than 50 percent of the area of all taxable real property that is liable for assessment under the proposal. This Petition is hereby filed with the City Secretary of the City in support of the creation of the District by the City Council as herein provided. The undersigned requests that the City Council authorize the District as above stated. RESPECTFULLY SUBMITTED, on this the 12`h day of May, 2015. {Signature Page to Follow) GLADE LIFESTYLE, LLC By: 24-eA€ *Ad-idf0-. Its: ✓ILe per, 1....t Exhibit A Beginning at the point of intersection of the eastern right of way(ROW) line of Harrington Gardens Parkway and the northern property line of HAVINS, JOHN H SURVEY Abstract 685 Tract 2A,thence West along the northern property line of HAVINS,JOHN H SURVEY Abstract 685 Tract 2A to a point where said line intersects with the western property line of HAVINS,JOHN H SURVEY Abstract 685 Tract 2A,thence South along the western property line of HAVINS, JOHN H SURVEY Abstract 685 Tract 2A to a point where said line intersects with the southern property line of GLADE PARKS Block H Lot 1 &BLK G LOT 1,thence West along the southern property line of GLADE PARKS Block H Lot 1 &BLK G LOT 1 to a point where said line intersects with the western property line of HAVINS, JOHN H SURVEY Abstract 685 Tract 2A,thence South along the western property line of HAVINS, JOHN H SURVEY Abstract 685 Tract 2A to a point where said line intersects with the projection of the northern property line of HAVINS, JOHN H SURVEY Abstract 685 Tract 2A09 SEPARATED TRACT,thence West along the projection of the northern property line of HAVINS, JOHN H SURVEY Abstract 685 Tract 2A09 SEPARATED TRACT to a point where said line intersects with the western property line of HAVINS,JOHN H SURVEY Abstract 685 Tract 2A09 SEPARATED TRACT, thence South along the western property line of HAVINS, JOHN H SURVEY Abstract 685 Tract 2A09 SEPARATED TRACT to a point where said line intersects with the southern property line of HAVINS, JOHN H SURVEY Abstract 685 Tract 2A09 SEPARATED TRACT,thence East along the southern property line of HAVINS, JOHN H SURVEY Abstract 685 Tract 2A09 SEPARATED TRACT to a point where the projection of said line intersects with the southern property line of HAVINS, JOHN H SURVEY Abstract 685 Tract 2A,thence East along the southern property line of HAVINS, JOHN H SURVEY Abstract 685 Tract 2A to a point where the projection of said line intersects with the southern property line of HAVINS, JOHN H SURVEY Abstract 685 Tract 2A05 SEPARATED TRACT,thence East along the southern property line of HAVINS, JOHN H SURVEY Abstract 685 Tract 2A05 SEPARATED TRACT to a point where the projection of said line intersects with the eastern property line of HAVINS,JOHN H SURVEY Abstract 685 Tract 2A05 SEPARATED TRACT, thence North along the eastern property line of HAVINS,JOHN H SURVEY Abstract 685 Tract 2A05 SEPARATED TRACT to a point where the projection of said line intersects with the eastern property line of HAVINS, JOHN H SURVEY Abstract 685 Tract 2A04 SEPARATED TRACT, thence North along the eastern property line of HAVINS, JOHN H SURVEY Abstract 685 Tract 2A04 SEPARATED TRACT to a point where said line intersects with the northern property line of HAVINS, JOHN H SURVEY Abstract 685 Tract 2A04 SEPARATED TRACT,thence West along the northern property line of HAVINS, JOHN H SURVEY Abstract 685 Tract 2A04 SEPARATED TRACT to a point where said line intersects with the eastern property line of HAVINS,JOHN H SURVEY Abstract 685 Tract 2A04 SEPARATED TRACT,thence North along the eastern property line of HAVINS, JOHN H SURVEY Abstract 685 Tract 2A04 SEPARATED TRACT to a point where said line intersects with the northern property line of HAVINS, JOHN H SURVEY Abstract 685 Tract 2A04 SEPARATED TRACT,thence West along the northern property line of HAVINS, JOHN H SURVEY Abstract 685 Tract 2A04 SEPARATED TRACT to a point where the projection of said line intersects with the eastern property line of HAVINS, JOHN H SURVEY Abstract 685 Tract 2A,thence North along the eastern property line of HAVINS, JOHN H SURVEY Abstract 685 Tract 2A to a point where said line intersects with the northern property line of HAVINS, JOHN H SURVEY Abstract 685 Tract 2A, which is the point of beginning. Exhibit A S A o Jf n 50a'Ydyts U' C,099$1m qiJ ° 'an arrow 3 TI4 474 tee„P46 D tl O 7 n Point of Beginning: a Clad Eastern ROW line of Glen Wood 0, a Rd Harrington Gardens Parkway and northern property line - W Glade Rd w O of HAVINS,JOHN H SURVEY k u Abstract 685 Tract 2A Al I nabuy Y n` t.Cer1, _ zY o Western property line £ of HAVINS,JOHN H SURVEY r 2 Abstract 685 Tract 2A Cie'n Wincwc Normandy Dr CS a 0 qF North property line of eodeaus O Cy ,,, I HAVINS,JOHN H SURVEY O Ca c Abstract 685 Tract 2A04 y SEPARATED TRACT 5 Western property line of Knot HAVINS,JOHN H SURVEY I 4 ., Western property line of - Abstract 685 Tract 2A09 n 2 HAVINS,JOHN H SURVEY 1. 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