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HomeMy WebLinkAbout2435 08-18-2025T P • 1 VICE VE • oVI E 1 • A CE • PP SSESS E T BIST A G A SEVE TY - EC • • • 1 VI ET A L ICT I T BILITY CL 1 A • • 1 . 243 • 1 E CITY • • • L • TI F VI • • E TE A L S , TE F " FILI FF TI 1 A TE. L LIC HERE A S, the City of Euless, Texas, is a home rule city acting under its charter adopted by the electorate pursuant to Article XI, Section 5 of the Texas Constitution and Chapter 9 of the Local Government Code; and E S, pursuant to Chapter 372 of the Texas Local Government Code (the "Act"), on December 14, 2010 the City Council of the City of Euless ("City Council") adopted Resolution No. 10-1350 creating Glade Parks Public Improvement District ("PID #1"); and E E pursuant to Sections 372.013 and 372.014 of the Act, the City Council is required to approve an annual service and assessment plan for PID #1; and E EAS, in accordance with Section 372.013(b) of the Act, the service and assessment plan must (i) cover a period of at least five years; (ii) define the annual indebtedness and the projected costs for improvements; and (iii) include a copy of the notice form required by Section 5.014, Property Code; and E E A S, following the adoption of the budget for Fiscal Year ("FY") 2025-2026, the City Council now seeks to approve the annual service and assessment plan for PID #1. • • , THE F EUL SS, TEX A EF • S, T T: E IT • R Al ECTI E • 1 Y T E CITY C 1. • CIL • FT CITY The City Council hereby finds that the statements set forth in the recitals of this Ordinance are true and correct, and such recitals are incorporated as part of this Ordinance. CTI • 2. The City Council, pursuant to Chapter 372 of the Act, hereby approves the FY 2025-2026 Service and Assessment Plan for PID #1, attached hereto as x iit • 08/19/2025 10:26 AM Page: 1 of 15 Fees: $76.00 ORDINANCE SUBMITTER: CITY OF EULESS ilk MARY LOUISE NICHOLSON COUNTY CLERK TI • 3. EVE A ILITY CLAUS It is hereby declared to be the intention of the City Council that the phrases, clauses, sentences, paragraphs, and sections of this Ordinance are severable, and if any phrase, clause, sentence, paragraph, or section of this Ordinance shall be declared unconstitutional by the valid judgment or decree of any court of competent jurisdiction, such unconstitutionality shall not affect any of the remaining phrases, clauses, sentences, paragraphs, and sections of this Ordinance, since the same would have been enacted by the City Council without the incorporation in this Ordinance of any such unconstitutional phrase, clause, sentence, paragraph or section. CTI • ILI The City Secretary is directed to cause a copy of the approved Service and Assessment Plan for PID #1, including the notice form required by Section 5.014, Property Code, to be filed with the County Clerk of Tarrant County, Texas no later than the seventh (7th) day after the adopted date of this Ordinance. EFFECTIVE of passage. • CTI • 5. TE. This Ordinance shall become effective from and after its date R SE TE' A A -P • VEN 1 FIST A • FI AL "E A RI at a regular meeting of the Euless City Council on the 18th day of August 2025, by a vote of 6 ayes, 0 nays, and 0 abstentions. inda Martin, Mayor TT ST: m utter, T MC, CMC 1 • 1 • 1 • • . • • City Secretary/Chief Governance Officer-' • ▪ • I•••••• P • • City Attorney T • F • 00,,,,,,, le • F A • • :4.4 • -A Ss• ik • • • • • • V▪ . • • Nib • ,14b • Ordinance o. 2435, Page 2 of 15 EXHI IT A FY2025-2026 - Service and A ssessment Plan Glade Parks Public Improvement District (PID #1) City of Euless, Texas 1. Introduction On December 14, 2010, the City Council of the City of Euless, Texas passed and adopted Resolution No. 10-1350 (Appendix A) establishing the Glade Parks Public Improvement District (PID #1). 2. ature of the Improvements The general nature of the improvements to be funded by the PID #1 over the next five (5) years and beyond is the construction of public infrastructure, pedestrian amenities and linkages and other improvements that are authorized by Chapter 372 of the Texas Local Government Code. 3. Authorized Improvements 1) Construction of Rio Grand Boulevard 2) Construction of Rio Grande Bridge 3) Construction of Heritage Drive 4) SH — 121 improvements 5) Landscaping 6) Wetland mitigation 7) Construction of Brazos and remaining streets 8) Main Entrance and Median (Chisolm Trail) 9) Administrative & Financing Costs Total Costs Estimated Costs $ 3,911 023 $ 1,016 065 $ 231 767 $ 1,297 164 $ 517 029 $ 296 000 $ 3,494 309 $ 587 247 $ 750 000 $12,100 604* * does not include interest costs associated with financing the improvements. 4. Financing of Improvements The Authorized Improvements were funded through the issuance of certificates of obligation by the City of Euless. While the PID #1 did not issue any debt, it is responsible for all of the costs associated with Authorized Improvements including interest and financing costs (with the exception of TIRZ contributions as described below). The certificates of obligation were issued in three separate phases to pay for the Authorized Improvements on an as needed basis. The debt issuance schedule is shown below. Phase 1 Phase 2 Phase 3 Total Issuance Fiscal Year 2011 2015 2016 Total Debt $ 3,035,000 $ 5,715,000 $ 3,350,000 $12,100,000 The detailed amortization annual indebtedness is attached as indebtedness was paid off early on July 22, 2025. A ppendix This • rdinance om 2435, Page 3 of 15 5. Assessment Plan In addition to the use of PID #1 funds it is anticipated that Tax Increment Reinvestment Zone Number Three, City of Euless, Texas — Glade Parks (the "TIRZ") will contribute to the costs of the Authorized Improvements. As the TIRZ fund begins to accrue revenue from the incremental increase in property values, the PID #1 assessment will be decreased by an amount equal to the total amount of revenue received in the TIRZ fund annually. A more detailed description of the PID #1 assessment calculation methodology and the relationship between the PID #1 and the TIRZ is described below. PID#1 Assessment Calculation A - B = C The PID #1 assessment will be calculated annually and be equal to the preceding fiscal year's total debt service costs less any revenue collected by the TIRZ in the preceding fiscal year. In the example above (A) represents total debt service (B) represents TIRZ funds plus Penalties & Interest and (C) represents total PID #1 assessment required revenue. A millage rate (E) would be set to provide revenue equal to PID#1 assessment required revenue (C). To calculate the millage rate divide the PID #1 assessment required revenue (C) by the estimated taxable value of the PID #1 (D) and multiply the resulting number by 100 to find the tax rate per $100 value. Millage Calculation (C / D) * 100 = E per $100 value The annual service plan is attached as Appendix C. 6. Levy of Assessments The assessment year shall be concurrent with the City's ad valorem tax year. Assessment will be billed on October 1st or as soon thereafter as practicable and will be considered delinquent if not paid by January 31st of the following year. 7. Assessment Roll The Assessment Roll for the next five years is attached as ppendix 8. otice Form A copy of the notice form as required by Section 5.014, Property Code is attached as Appendix E. Ordinance No. 2435, Page 4 of 15 APPENDIX A RESOLUTION NO. 10-1350 A RESOLUTION CREATING, AUTHORIZING AND ESTABLISHING THE GLADE PARKS PUBLIC IMPROVEMENT DISTRICT; AUTHORIZING ASSESSMENT METHOD AND COLLECTION SERVICE THEREOF; AND PROVIDING FOR PUBLICATION AND AN EFFECTIVE DATE. WHEREAS, Chapter 372 of the Texas Local Government Code (the "Act") allows for the creation of public improvement districts; and WHEREAS, on October 4, 2010, owners of real property located near the intersection of SH-121 and Cheek Sparger Road delivered to the City of Euless a Petition (the "Petition") to establish the Glade Parks Public Improvement District (the "District") that is shown on the map attached hereto and made a part hereof and labeled Exhibit A (the "PID Boundary"); and WHEREAS, the Act states that the Petition is sufficient if signed by owners of more than 50 percent of taxable real property, according to appraised value, and ether of the following: more than 50 percent of the area of ail taxable real property liable for assessment under the proposal, or more than 50 percent of all record owners of property liable for assessment; and WHEREAS, City staff has reviewed the Petition and determined that owners of more than 50 percent of the appraised value of the taxable real property liable for assessment, and owners of more than 50 percent of the area of ail taxable real property liable for assessment within the District have executed the petition; and WHEREAS, the Act further requires that prior to the adoption of the resolution providing for the establishment of the Glade Parks Public Improvement District to provide supplemental public improvements to be funded by assessments on real property and real property improvements, the City Council must hold a public hearing ,on the advisability of the improvements; the nature of the improvement; the estimated cost of the improvement; the boundaries of the public improvement district; the method of assessment; and the apportionment of costs between the district and the municipality as a whole; and WHEREAS, after providing notices required by Section 372.009 of the Act, the City Council on November 23, 2010, conducted a public hearing on the advisability of the improvements, and adjourned such public hearing. NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF EULESS, TEXAS, THAT: Ordinance No. 2435, Page 5 of 15 Section 1. Pursuant to the requirements of the Act, the City Council, after considering the Petition for the proposed District and the evidence and testimony presented at the public hearing on November 23, 2010, hereby finds and declares: (a) Advisability of Improvements Proposed for the District. It is advisable to create the District to provide the improvements described in this Resolution. (b) Nature of the Improvements. The general nature of the improvements to be performed by the District is to construct public infrastructure, produce pedestrian amenities and linkages and provide other improvements that are authorized by the Act. (c) Estimated Cost of the Improvements. The total estimated cost of improvements provided by the District is approximately twelve million, one hundred thousand, six hundred and four dollars ($12,100,604). The estimated costs do not include any interest costs associated with debt service. The District shalt incur no bonded indebtedness, but will be responsible for indebtedness, including principal, interest and other financing costs, incurred by the City of Euless to finance improvements that are fisted as Authorized Improvements attached hereto and made a part here of and labeled Exhibit B (the "Authorized Improvements') (d) Boundaries. The District is located wholly within the City of Euless, Texas. The boundaries of the District are shown on the map of the District (Exhibit A). (e) Method of Assessment The method of assessment is based on a variable assessment rate on the value of property in the Public Emprovement District (PID) equal to the annual debt service costs incurred by the City of Euless to fund Authorized improvements within the PID less any available incremental tax revenue generated from City of Euless Tax Increment Reinvestment Zone Number Three. The Service Plan will reflect the District's intention to reduce the annual assessment rate proportional to the annual incremental revenue received from City of Euless Tax increment Reinvestment Zone Number Three. (f) Apportionment of Cost Between District and Municipality. All of the costs of the Authorized Improvements will be paid from the assessments or available incremental tax revenue generated from the City of Euless Tax Increment Reinvestment Zone Number Three 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 Resolution No..10-1350 Page 2 of 7 Ordinance No. 2435, Page 6 of 15 or that which is available in the City of Euless Tax Increment Reinvestment Zone Number Three. The City of Euless is not responsible for payment of assessments against exempt C4 property in the District, which is specially benefited. Property owned by tax-exempt religious organizations will be exempt from assessment, as will property owned by persons receiving and qualifying for 66-or-older homestead exemption under Section 11.13 (c) or (d) of the Texas Property Tax Code. Payment of assessment by other exempt jurisdictions must be established by contract. No such contracts are in place, nor are any proposed. City rights -of -way and city parks are not subject to assessment. Properties otherwise exempt from ad valorem taxes are not subject to assessment. (g) Assessment Roll and Setting of Rate. The City Manager shall annually prepare an assessment roll and file that roll with the City Secretary, in conformity with the exemptions from assessment •established under subparagraph (f) above. The annual assessment installment for each year shall equal the City of Euless annual debt service for Authorized Improvements constructed under subparagraph (b) above less any available incremental tax revenue generated from City of Euless Tax Increment Reinvestment Zone Number Three. (h) The findings set forth in the preamble of this Resolution are hereby found to be true and correct. Section 2. The Glade Parks Public Improvement District is hereby authorized and established as a Public Improvement District under the Act in. accordance with the findings as to the advisability of the improvements contained in this Resolution. The District shall be subject to all of the terms, conditions, limitations and reservations contained in the findings of Section I of this Resolution. Section 3. The City Secretary is directed to give notice of the authorization for the establishment of the District by publishing the caption of this Resolution once in the newspaper of general circulation in the City of Euless. Such authorization shall take effect and the District shall be deemed to be established effective upon the publication of such notice. The District shall automatically dissolve on December 31, 2035 unless the District is renewed through the petition and approval process as provided by the Act or the District is sooner terminated as provided by law. The power of the efty to continue to levy and collect assessments within the District will cease and the District will be dissolved upon the date that ail indebtedness incurred by the City of Euless to finance the Authorized Improvements has been liquidated and a petition requesting dissolution is filed with the City Secretary of the City of Euless and the Resolution No. 10-1350 Page 3 of 7 Ordinance No. 2435, Page 7 of 15 petition contains the signatures of at least enough property owners in the District to make the petition sufficient for creation of a public improvement district as provided in Section 372.005(b) of the Act. ction 4. The City Secretary will provide assessment collection services for collection of the special assessments. Section This Resolution shall take effect immediately from and after its passage in accordance with the Charter of the City of Euless and upon publication, and it is accordingly so resolved. at a regular meeting of the Euless City Council on the 14th day of December 2010 by a vote of 7 ayes, o nays, and o abstentions. Mary Lib S6reh, Mayor Resolution No. 104350 Page 4 of 7 ATT ST: swan./Cr(m TRMC, City Secretary Ordinance o. 2435, Page 8 of 15 Exhibit A -A rLe:7ge0 nd L o rs a. - . _ _ '1 7r a.G µ'i" may _ ai, ,imr_14 • ti ,-4; PfD Boundary ' _ .1. _;. k.1 wl; ., 15' •f: r % PIA IV#:"' 4! ,ter '' J 74—F- ; 1 _ " 1 11 .1g WWII :I 136 ET. R Dtta rr L' •ate _pWL' 3 y ' . 5fG dt.1F: •, xa VI! Resolution No. 10-1350 Page 5 of 7 Ordinance No. 2435, Page 9 of 15 Exhibit A Beginning at the point of intersection of the west right-of-way (ROW) line of State Highway 121 and the north ROW line of Cheek Sparger Road, thence Westward to a point where said line intersects with the western property line of Bbb & C RY Survey Abstract 204 Tracts 5 & 5e, thence Northward along the west property of line Bbb & C RY Survey Abstract 204 Tracts 5 & 5e to a point where said line intersects with the western property line of Doss, Jesse Survey abstract 441 Tract 6B, thence Northward along the west property line of Doss, Jesse Survey abstract 441 Tract 6B to a point where said line intersects with the western property line of Doss, Jesse Survey abstract 441 Tract 6131, thence Northward along the western property line of Doss, Jesse Survey abstract 441 Tract 6131 to a point where said line intersects with the southern property line of the Doss, Jesse Survey Abstract 441 tract 3c, thence West along the southern property line of the Doss, Jesse Survey Abstract 441 tract 3c to a point where said line intersects with the western property line of the Doss, Jesse Survey Abstract 441 tract 3c, thence North along the western property line of the Doss, Jesse Survey Abstract 441 tract 3c to a point where said line intersects with the southern property line of Doss, Jesse Survey Abstract 441 Tract 5, thence West along the southern property fine of Doss, Jesse Survey Abstract 441 Tract 5 to a point where said property line intersects with the eastern ROW line of Heritage Avenue, thence Northward along the eastern ROW line of Heritage Avenue to a point where said line intersects with the northern property line of Havins, John H Survey, Abstract 685 Tract 2A, thance Eastward along the northern property line of Havins, John H Survey, Abstract 685 Tract 2A to a point where said line intersects with the western ROW line of State Highway 121, thence Southward along the western ROW line of State Highway 121 to a point where said line intersects with the northern ROW line of, Cheek Sparger Road, which is the point of beginning Resolution No. 10-1350 Page 6 of 7 Ordinance No. 2435, Page 10 of 15 • rize .r4 e e 1) Constru ion of 10 rand Boulevar 2) Construction of rande ridge 3) Construction of eritage Drive 4) S — 121 im rove ents 5) Lands .ping 6) eland mitigation 7) Construction of :razos and rernainin ) ain Entrance and .edian (Chisol 9) Ad 'nistrative Financin' Costs 1 • streets Trail) 12,100,604 does not include interest costs associat prove ents. 1 13 0 a of 7 3, • 1,023 1,416,065 $231,767 1,2'7,164 517,029 296,000 3,494,309 $5:7,2 7 750,000 it firi..ncin the • rdinance No. 2435, Page 11 of 15 N [t V V" W �' V' O [t [t (A [f O N O (A C N O CY (O g to r to E [Y p M (T O) N M ti In � ti 'ch O) M (O In O O (D O O O O O O O O O O O O O O O O O O O O O O O O O O O In 64 Ffl � EA 64 � 69 64 O 69 fA r 64 64 (A 69 69 O 64 69 O 64 69 O 64 64 M 64 ER � 64 64 O 64 64 ti 64 64 O 64 64 O 64 69 O ~' l!"l M 'ct [O N I� O O O M M M M N I� � r N N M In 1� O O fD (7D O op tb � Efi �» � 64 �» v} Eli � 64 �» � r ER N ti ti ti ti N N N r- h- t� N N N ti N N N N t� N I� ti ti N ti ti N N� ti 69 � 64 ti ti Eli ti N bg 11') 11') lorh d3 O) Q) � (D M Ep � � �� � � tb O (O r � r 1� 6<3 64r r N (t) M lf7 M (n MU7 M(n N lf) N (O N(O64 64 64 64 69 69 64 fl3 69 69 Ffi Eli 64 69 64 69 64 64 6H N I� ti ti N N N 11 N N N N 1` N � ti ti N ti ti N N �,.� pOo N O~i m O~i m N N ti ti ti to ti N � I� V' 'ct d' N V' O N N M N In N N ct N N (O I� O O O (O r tom- (A [t (O O ti M 0 0 0 o O (� � O O O O - O o O O O O) t- 69 [r 64 ti ti 64 t` (�- 64 In In 64 N ti fR In (O E,y d) Q) 6'i r c0 o . 64 W(D (V y3 N b4 O) co 64 0 64 N O O O O ti ti (D (O M N N r r �� T T r N N ( N r r r r r r r r r r r r r r r 64 64 (li 64 69 69 EA ER E� FA 64 Eli H4 ER 64 Ff3 Eli Efi 64 Efi Efi fl? 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O O O O O 00 00 o Sri O O O 64� ri - r r r N N N M M M [Y 'ci' �' lf� (n (n (D (D CO 1� h• ti (D (7o M O) (D f•A O O O r r r N N N M M M 'Gi' �' � In l(') 11') r r r r r r r r r r r r r r r r r r r r r r N N N N N N N N N N N N N N N N N N N O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O +' N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N (\n(no(n(noinino(nano(n(no`(n(`noin�nov\�(no\(n(no(n(no(n�no(n(no(n(noinu�o(n(n Q, - r r M r r M r r M r r M r r M r r M r r M r r M r r M r r M r r M r r M r r M r r M r r M ammamma:mamma2mamma0tmammammammammammumammamm Ordinance No. 2435, Page 12 of 15 APPENDIX C Glade Parks PID Service Plan ,c1,1 1,2 a 0 ER t& • ER EA ER- r ER- Doi 5 u 69- 69- ER- 1E4. N 1 N 's4.1 69- 69 E9 E9 0 69- E9- .69- E9- ER 03- TIRZ Revenue - 11' Ordinance No. 2435, Page 13 of 15 APPENDIX D CY) 00 0) 0 cri. N 0 0 0 0 0 0 CY) .6.1. 0 N N LC) 00 0) L6 ,t.NN0000 00Nii). -69- N N LC) LO N- CO CY5' CONNL.000 0 0 0 .69- N N if} CY) Co N- NN000 0 0 N N N c • CO N CO N (0(0 N CY) CO 0 0 I-- 00 00 N N • r-I N • -69- ify -69- a) c)-6 E < g 0 a. a) CD Fiscal 0 0 0 0 0 0 0 0 0 c; Ordinance No. 2435, Page 14 of 15 TIC LI TI Appendix E Y I P' ' VE E T T ITY F L S, T T LL (insert property address) T ICT SE S T T TY As the purchaser of the real property described above, you are obligated to pay assessments to the City of Euless, Texas, for the costs of a portion of a public improvement undertaken for the benefit of the property within the Glade Parks Public Improvement District Number 1 (the "District") created under Subchapter A, Chapter 372, Local Government Code, as amended. AN ASSESSMENT HAS BEEN LEVIED AGAINST YOUR PROPERTY FOR THE AUTHORIZED IMPROVEMENTS, WHICH MAY BE PAID IN FULL AT ANY TIME. IF THE ASSESSMENT IS NOT PAID IN FULL, IT WILL BE DUE AND PAYABLE IN ANNUAL INSTALLMENTS THAT WILL VARY FROM YEAR TO YEAR DEPENDING ON THE AMOUNT OF INTEREST PAID, COLLECTION COSTS, ADMINISTRATIVE COSTS, AND DELINQUENCY COSTS. The exact amount of the assessment may be obtained from the City of Euless Finance Department. The exact amount of each annual installment will be approved each year by the Euless City Council in the annual service plan update for the District. More information about the assessments, including the amounts and due dates, may be obtained from the City of Euless Finance Department. Your failure to pay any assessment or any annual installment may result in penalties and interest being added to what you owe or in a lien on and the foreclosure of your property. The undersigned purchaser acknowledges receipt of this notice before the effective date of a binding contract for the purchase of the real property at the address described above. Signature of Purchaser Date D225153188 ORDINANCE Pages: 15 Fees: $76.00 FILED AND RECORDED OFFICIAL PUBLIC RECORDS OF TARRANT COUNTY, TEXAS 08/19/2025 10:26 AM MARY LOUISE NICHOLSON COUNTY CLERK rdinance No. 2435, Page 15 of 15