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Home My WebLink About2436 08-18-202511 D225153189 08/19/2025 10:26 AM Page: 1 of 16 ORDINANCE SUBMITTER: CITY OF EULESS ORDINANCE NO. 2436 Fees: $80.00 MARY LOUISE NICHOLSON COUNTY CLERK AN ORDINANCE APPROVING AND ADOPTING THE ANNUAL SERVICE AND ASSESSMENT PLAN FOR GLADE PARKS PUBLIC IMPROVEMENT DISTRICT NUMBER 2 IN THE CITY OF EULESS, TEXAS; PROVIDING A SEVERABILITY CLAUSE; PROVIDING FOR FILING IN THE COUNTY RECORDS; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, 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 WHEREAS, pursuant to Chapter 372 of the Texas Local Government Code (the "Act"), on June 9, 2015 the City Council of the City of Euless ("City Council") adopted Resolution No. 15-1461 creating Glade Parks Public Improvement District Number 2 ("PID #2"); and WHEREAS, 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 #2; and WHEREAS, 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 WHEREAS, 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 #2. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF EULESS, TEXAS, THAT: SECTION 1. 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. SECTION 2. The City Council, pursuant to Chapter 372 of the Act, hereby approves the FY 2025-2026 Service and Assessment Plan for PID #2, attached hereto as Exhibit A. SECTION 3. SEVERABILITY CLAUSE. 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. SECTIO 4. FILI G. The City Secretary is directed to cause a copy of the approved Service and Assessment Plan for PID #2, 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. EF ECTI E of passage. ESE • TI • 5. TE. This Ordinance shall become effective from and after its date P.V • • FISTA1 FI AL -EA PI 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. TE 1 Linda Martin, Mayor TT ST: A im utter, TRC, CMC City Secretary/Chief Governance 0 1 A A P • VE 1 City Attorney S TO F • sf E cS) •,(S) • • • • • • • • • • • e • • T lllilii . • • • Ordinance o. 2436, Page 2 of 16 Intro • a • e FY2 arks uction • 25-202 ublic Im • IT e ice and Assess rovement P istri ct u ity of uless, Texas • ent lan ber T 0 1 #2) On June 9, 2015, the City Council of the City of Euless, Texas passed and adopted Resolution No. 15-1461 ( ppendix A ) establishing the Glade Parks Public Improvement District Number Two (PID #2). ature of t e I prove ents The general nature of the improvements to be performed by the PID #2 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. uthorize • Improve ents 1) Parking Garage 2) Park and Park Amenities 3) Bond Issuance Costs Total osts inancin • of I prove ents s i ate. Costs $1,901,793 $1,287,387 $ 79,730 $3,268,91 1 The Authorized Improvements were funded through a loan from the City of Euless. PID #2 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 loan was made when construction of the public improvements within the District was complete. The debt issuance schedule is shown below. Year Total Debt Tranche 4 2018 $3,268,910 The detailed amortization of annual indebtedness is attached as en • IX • rdinance o. 2436, Page 3 of 16 ssess ent lan In addition to the use of PID #2 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. Once the original PID #1 obligations have been fulfilled, excess TIRZ revenue will flow into the Glade Parks PID #2. As the TIRZ fund begins to accrue revenue from the incremental increase in property values, the PID assessments 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 assessment calculation methodology and the relationship between the PID #2 and the TIRZ is described below. PID #2 Assessment Calculation A - B = C The PID #2 assessment will be calculated annually and be equal to the total debt service costs less any revenue collected and available after PID #1 Assessment calculation by the TIRZ. In the example above, (A) represents total debt service (B) represents available TIRZ funds and (C) represents total PID #2 assessment required revenue. An assessment rate (E) would be set to provide revenue equal to PID #2 assessment required revenue (C). To calculate the assessment rate divide the PID #2 assessment required revenue (C) by the estimated value of the PID #2 (D) and multiply the resulting number by 100 to find the assessment rate per $100 value. Assessment Calculation (C / D) * 100 = E per $100 value The annual service plan is attached as • •en•`i . Levy of £ ssess ents The assessment year shall be concurrent with the City's tax year. 7. ssess ent oil The Assessment Roll for the next five years is attached as • endix . 8. otice or A copy of the notice form as required by Section 5.014, Property Code is attached as • en i Ordinance No. 2436, Page 4 of 16 Appendix A RESOLUTION NO. 15-1461 A RESOLUTIO CREATING, AUTHORIZING, AND ESTABLISHING THE GLADE PARKS PUBLIC I PROVE ENT DISTRICT U BER 0; AUTHORIZING ASSESS ENT ETHOD A D COLLECTIO SERVICE THEREOF; AN PROVIDING FOR PUBLIC TIO A D A EFFECTIVE DATE. HEREAS, Chapter 372 of the Texas Local Government Code (the "Act") allows for the creation of public improvement districts; and HEREAS, on May 12, 2015, 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 (PID) Number Two (the "District") that is shown on the map attached hereto and made a part hereof and labeled Exhibit A (the "PID Boundary"); and HEREAS, 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 either of the following: more than 50 percent of the area of all taxable real property liable for assessment under the proposal, or more than 50 percent of all record owners of property liable for assessment; and HEREAS, 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 all taxable real property liable for assessment within the District have executed the petition; and HEREAS, the Act further requires that prior to the adoption of the resolution providing for the establishment of the Glade Parks Public Improvement District Number Two 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 HEREAS, after providing notices required by Section 372.009 of the Act, the City Council on June 9, 2015, conducted a public hearing on the advisability of the improvements, and adjourned such public hearing. 0 THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF EULESS, TE S, THAT: Ordinance o. 2436, Page 5 of 16 Section I. 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 June 9, 2015, 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) ature of the 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. (c) Estimated Cost of the Improvements. The total estimated cost of improvements provided by the District is approximately three million, one hundred and eighty-nine thousand, one hundred and seventy-nine dollars ($3,189,179). The estimated costs do not include any interest costs associated with debt service. The District shall 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 listed 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) ethod of Assessment. The method of assessment is based on a variable assessment rate on the value of property in the Public Improvement District (PIO) 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. Resolution No. 15-1461, Page 2 of 8 Ordinance o. 2436, Page 6 of 16 (f) Apportionment of Cost Be eert District and unicipali . 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 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 City 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 65-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) ssessment 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 Number Two 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 1 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 Resolution No. 15-1461, Page 3 of 8 • rdinance o. 2436, Page 7 of 16 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 City to continue to levy and collect assessments within the District will cease and the District will be dissolved upon the date that all 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 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. Section 4. The Municipality will provide assessment collection services for collection of the special assessments, Section 5. The 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. APPROVED A D ADOPTED at a regular meeting of the Euless City Council on June 9, 2015, by a vote of 7 ayes, 0 nays, and 0 abstentions. APPROVED: da Martin, Mayor ATTEST: Sutter, tRMC, City Secretary Resolution No. 15-1461, Page 4 of 8 Ordinance No. 2436, Page 8 of 16 Exhibit 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 Resolution No, 15-1461, Page 5 of 8 Ordinance o. 2436, Page 9 of 16 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 HAVENS, 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. Resolution No. 15-1461, Page 6 of 8 • rdinance o. 2436, Page 10 of 16 3 10,eew, e/ HAVIN5.1OHN H SURVEV AORrsct 66S kart 1A NAVINS, 10 NM N SURVEY A631ae1685 Tr.ot 1A06 SEPARATED TRACT Resolution No. 15-1461, Page 7 of 8 Exhibit A Pon, a1 Rp,1nrt, Eastern ROW Hng el mar[nron Greens p.r.w.. of NASR11 1011N A SUAV A4.N1O 645 Ux11A Norte property lintel nANINS, JOHN H SLAVES Ae et 685 ia01cc lAOl S50A8 AT E0 TRW Western prHpeM Rae Nl HAV166. SOUR H SURVEY Afirtra. IRS Trod! l005 SEPARATED TRACT 111 Clapp Nu As E No-mann, Dr gprA.a,,. c CA ref Ordinance No. 2436, Page 11 of 16 Exhibit B Authorized Improvements Estimated Costs Parking Garage 1,901,793.00 Park and Park Amenities 1,287,386.75 TOT L COSTS 3,189,179.75 Resolution No. 15-1461, Page 8 of 8 Ordinance o. 2436, Page 12 of 16 11 APPENDIX a) (0 CD ir) co co C:) (C. CO N- Ci) CD CD CO CD CD - - CD C. - CD CD 0 C) CO CD- CD CD C. 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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 D225153189 ORDINANCE Pages: 16 Fees: $80,00 FILED AND RECORDED OFFICIAL PUBLIC RECORDS OF TARRANT COUNTY, TEXAS 08/19/2025 10:26 AM MARY LOUISE NICHOLSON Ordinance o. 2436, Page 16 of 16 COUNTY CLERK