HomeMy WebLinkAbout94-868 09-13-1994RESOLUTION NO. 94 -868
WHEREAS, the City of Euless, Texas, desires to promote the development of the
downtown Euless area, including the timely and orderly development of commercial and
retail uses, by the creation of a reinvestment zone pursuant to the Tax Increment Financing
Act, Chapter 311 of the Texas Tax Code, (the "Act "); and
WHEREAS, the City desires to receive the comments of all affected property owners
and of other taxing jurisdictions which levy real property taxes within the proposed zone
( "taxing units ") regarding the establishment of such reinvestment zone; and
WHEREAS, the Act requires the City to notify the taxing units of its intent to
establish a reinvestment zone at least sixty (60) days prior to holding a public hearing
regarding the creation of said reinvestment zone; and
WHEREAS, other preliminary procedural steps must be adhered to prior to the
establishment of a reinvestment zone,
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF EULESS:
Section 1. That the passage of this resolution evidences the intention of the City
to create a reinvestment zone for the downtown area pursuant to the Act. The boundaries
for the proposed reinvestment zone for the downtown area are shown on revised Exhibit
"A" attached hereto. A description of the tentative plans for the development of the zone
and an estimate of the general impact of the proposed reinvestment zone on property
values and taxing revenues are attached hereto as Exhibit "B ".
Section 2. That a Public Hearing is hereby scheduled to be held before the Euless
City Council on November 22, 1994, for the purpose of receiving public comment on the
creation of a tax increment reinvestment zone for the downtown area, and its benefits to
the City and to property in the proposed zone.
Section 3. That the City Secretary is hereby directed to forward a certified copy of
this resolution, with exhibits, not later than the 60th day before the date of the Public
Hearing, to the governing bodies of each taxing unit that levies real property taxes in the
proposed reinvestment zone (Hurst - Euless- Bedford Independent School District, County
of Tarrant, Tarrant County Hospital District, Tarrant County Junior College District), along
with written notice that the City intends to establish the zone, and requesting that each
taxing unit designate within 15 days a representative to meet with the City Council to
discuss the project plan and the reinvestment zone financing plan, as required by the Act.
Section 4. That not later than the seventh day before the date of the public hearing,
the City Secretary shall cause notice of the public hearing to be published in a newspaper
having general circulation in the City.
Section 5. That the City Manager is authorized to undertake other preliminary
preparations and actions in accordance with the Act.
Section 6. That this resolution shall take effect from and after its passage in
accordance with the provisions of the Charter of the City of Euless and it is accordingly so
resolved.
ADOPTED at a regular meeting of the Euless City Council on the 13th day of
September 1994, by a vote of 7 ayes, 0 nays and 0 abstentions.
ATTEST:
san Crim, MC, City Secretary
APPROVED AS TO FORM:
tomey
RESOLUTION 94 -868, PAGE 2 OF 2
APPROVED:
114 deaai
Mary Liibaleh, Mayor
DESCRIPTION
TAX INCREMENT FINANCING DISTRICT
•
Being a tract or parcel of land situated in the A. Bradford Survey,
Abstract Number 152, and the A. Barnard Survey, Abstract Dumber
107, in the City of Euless, Tarrant County, Texas, and being a
portion of that certain tract of land conveyed to Sunbelt Savings
Association of Texas, as recorded in Volume 9161, page 631,: Deed
Records, Tarrant County, Texas, and being all of that certain :tract
of land conveyed to Bear Creek Associates II, as recorded in Volume
8856, Page 237, of said Deed Records, and being all of a 30.387
acre tract of land referred to as Phase VI -B, shown on Boundary
Survey performed by Kimley -Horn and Associates, Inc. for the
Dallas -Fort Worth International Airport Board, Contract Number
8001139, dated February 1993, and being more particularly described
as fellows;
BEGINNING at a point for the intersection of the south right -Of -way
of Midway Drive (!an 80 foot R.O.W.) with the east right -of -way of
Bear Creek Parkway (an 80 foot R.O.W.), as shown on the Right -0f-
Way Dedication Plat for Midway Drive, as recorded in Volume 388-
199, Page 85, Plat Records, Tarrant County, Texas, said point being
the beginning of ; a curve to the left, having a central angle of
12°06'47", a rad•�ius of 990.00 feet, a tangent length of 105.04
feet, and a long chord that bears S 84 °02'40" E, 208.91.feet;
THENCE with said curve and said south right -of -way of Midway
Drive arc distance of 209.30 feet to a point;
THENCE__ . N .89 °.53;'.56" .E, 406.15 feet with said south right -of -way
of Midway Drive to a point for the intersection of said south
right-of-way- the: west right -of -way of Minters Chapel Rbad (a
50 foot R.O.W.);
THENCE S 60°0033" E, 813.82 feet with said west right -of -Way of
Minters Chapel tidied to a point;
THENCE N 89 °21'23" E, diverting from said west right -of -way of
Minters. Chapel Road, passing the northwest corner of said 3;0.387
acre tract at 50 feet, said northwest corner being in the: east
right -of -way of said Minters Chapel .Road, and continuing with the
north, line of said 30.387 acre tract a total distance of 956.13
feet to.a point for the northeast corner of said 30.387 acre tract,
said point being., in the west right -of -way of State Highway; 360,
hereafter referred to as S.H. 360 (a variable width R.O.W.),said
point being the beginning of a non- tangent curve to the right.
having as central angle of 31 °40'46 ", a radius of 1879.86 feet, a
tangent, length of 533.35 feet, and a long chord that bears
S 03 °19.'59" W, 1026.20 feet;
THENCE an arc distance of 1039.39 feet with said curve and: with
said west right -of -way of S.H. 360 to the point of curvatureiof a
tangent;curve to the right, having a central angle of 50 °19'39 ", a
radius of 924.93 feet, a tangent length of 434.52 feet, and a long
chord that bears S 44 °20'11" W. 786.57 feet;
REVISED
116TI000.FNS E XH S B = T
t. A .s
Page
DESCRIPTION
tAX INCREMENT FINANCING DISTRICT
THENCE an arc distance of 812.44 feet with said curve and with
said west right -cif -way of S.H. 360 to a point in the north right -
of-way of State Highway 183, hereafter referred to as S.H. 183 (a
variable width R.0.W.);
241.74 feet with said north right -df -way
58.03 feet with said north right -df -way
THENCE S 69°20'31" W,
of S.X.: 183 to a ipoint;
THENCE N 69 °0129" W,
of S.H. _ 183 to a ;point;
THENCE N 15 °36'29" W, 51.89 feet with said north right -of -way
of S.H. 183 to a 4oint for the intersection of said north right -of-
way with the aforementioned east right -of -way of Minters ohapel
Road;
THENCE S 89 °5d,' 19" W, 50.00 feet crossing said Minters Chapel
Road to a point far the intersection of said north right -of -way of
S.H. 183 with the aforementioned west right -of -way of Minters
Chapel Road;
THENCE S
of S.H. 183
THENCE S
of S.H. 183
11°04'09" W, 51.07 feet with said north right -of -way
to a ;point;
29 °01,'43" W, 112.47 feet with said north right -;f -way
to a ;point;
THENCE S 66 °061,119" W, 98.38 feet with said north right -cif -way
of S.H. 183 to a !point;
THENCE S
of S.H. 183
THENCE S
of S.H. 183
THENCE S
S.H. 183 to
THENCE S
of S.H. 183
THENCE S
of S.H. 183
THENCE N
S.H. 183 to
THENCE N
of S.M. k 183
THENCE f N
of S.H.' 183
77 °11;'11" W, 98.16 feet with said north right -df -way
to a (point;
82 °081'21" W, 98.17 feet with said north right -of -way
to a ;point;
87°041'39" W, 98.20 feet with said north right -of -way of
a point;
89 °391'53" W, 143.12 feet with said north right -qf -way
to a ;point;
89 °41'28" W, 466.51 feet with said north right -o,f -way
to a jpoint ;
45 °4E006" W. 71.20 feet with said north right -of -way of
a point;
00 °54!'59" W, 476.55 feet with said north right -of -way
to a point;
51 °51 "36" W, 148.84 feet with said north right-of-way
to a point;
REVISED
116TI000. FNS MKT-1213M T '• A "
Page
DESCRIPTION
.rAX INCREMENT FINANCING DISTRICT
THENCE. N 00 °50'54" W, 31.41 feet with said north right -of -Way of
S.H. 183 to a point;
•
THENCE S 89 °08'13" W, 19.88 feet with said north right -of -way
of S.M. : 183 to a point for the intersection of said north: right -of-
way with the aforementioned east right -of -way of Bear 'Creek
Parkway;
•
THENCE N 00 °511'49" W, 262.60 feet with said east right -cif -way
of Bear Creek Parkway to the point of curvature of a tangent ;curve
to the right, ha,'ving a central angle of 39 °44'08 ", a radius of
910.00 feet, a tangent length of 328.84 feet, and a long chord that
bears N 19 °00'14" E, 618.53 feet;
THENCE' an arc 'distance of 631.10 feet with said curve ansc with
said east right -Of -way of Bear Creek Parkway t� a point;
THENCE N 38 °5'18" E, 200.00 feet with said. east right-6f-way
of Bear Creek Parkway to the point of curvature of a tangent curve
to the left, hating a central angle of 28 °05'16 ", a radius of
990.00 feet, a tangent length of 247.64 feet, and a long chord that
bears N 24 °49'401 E, 480.47 feet;
THENCE an arc distance of 485.32 feet with said curve an with
said east right -of -way of Bear Creek Parkway to a point; ti
THENCE N 10 °47'03" E, 578.99 feet with said east right-Of-way
of Bear Creek Parkway to the POINT OF BEGINNING and containing iapproximately
88 acres (3,850,000 square feet) of land.
REVISED
116T1000. FNS EXH2 132 T
t* A TT
Page 3
VU1 VU/ U41
121002/002
STATE HIGHWAY 183
REVISED EXHIBIT "A"
L%' A
REINVESTMENT ZONE
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