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HomeMy WebLinkAbout2015-11-10 Euless ArticlesNOVEMBER 4, 2015 Belk store under construction at Glade Parks development The 95,000-square-foot store slated to open in March Panera Bread and Verizon Wireless opening soon Officials approved plans for a movie theater A Belk department store is under construction at Glade Parks in Euless. Khampha Bouaphanh Star- Telegram By Elizabeth Campbell EULESS More restaurants and stores will open soon at the bustling Glade Parks development, bordering Euless and Colleyville. Mike Collins, the city’s planning and development director said that construction is also underway at the Belk department store, an anchor of the 194-acre development. Work is progressing on the exterior of the building, and the contractor can also start on the interior of the building, he said. The 95,000-square-foot, $10.8 million store is scheduled to open in March. More shops and retail continue to populate the Glade Parks development in Euless. Khampha Bouaphanh Star-Telegram The fire lane between Rio Grande and Brazos Boulveard was closed because of the construction of Belk and a lifestyle center. The fire lane and underground utilities will be shifted to the south and should open in March, he said. Belk’s sits next door to Dick’s Sporting Goods in a busy stretch of the development. Glade Parks is a 194-acre development of urban lofts, homes and retail. The city recently approved a site plan for a movie theater, but Collins said an operator hasn’t been announced. There are no details yet on the number of screens the theater will have, he said. Glade Parks, on the west side of the busy Texas 121 corridor between Cheek-Sparger and Glade roads is a mix of single-family homes, urban lofts and commercial development. More restaurants Pie Five opened its doors recently. Panera Bread, north of the Raising Canes restaurant, is supposed to open its 4,385-square-foot location by mid-November, around the time a Verizon Wireless store is also scheduled to open. A Five Guys Burgers and a Sleep Experts store are also coming to Glade Parks, but they are still under construction and opening dates haven’t been announced. Glade Parks will also feature a public plaza/park that will connect the homes and urban lofts with the shops and restaurants. Earlier this year, the council approved creating a public improvement district to fund the creation and development of the park and a parking garage. $10.8 million Cost to build the Belk department store Collins told the Star-Telegram previously that the park would be flanked by commercial buildings including restaurants with outdoor patios, and the movie theater will be nearby. Collins said that workers are grading the site for the park to install underground utilities. The same landscape architect who designed elements at Southlake Town Square would work on the design of the Glade Parks Town Center. Euless leaders honored on landmarks Former councilman Charlie Miller is the latest to be recognized His name went on the Parks at Texas Star’s southern entryway The 18th-hole bridge at Texas Star Golf Course will become the Glenn Walker Bridge In March, the 18th hole bridge at Texas Star Golf Course will be named the Glenn Walker Bridge. Stewart F. House Star-Telegram archives By Terry Evans Special to the H-E-B News EULESS City leaders want to ensure that City Council members who distinguish themselves through service to fellow residents are remembered. Naming the Parks at Texas Star’s southern entryway after former Councilman Charlie Miller last week was the latest council action in that campaign, Mayor Linda Martin said. Another opportunity will be in March, when the 18th-hole bridge at Texas Star Golf Course becomes the Glenn Walker Bridge. Other recent honors include the Glenn Porterfield practice area at Texas Star Golf Course, the Mayor Mary Lib Saleh Library, the Leon Hogg Amphitheater at Bear Creek and the Mayor Harold Samuels Finance Building at the City Hall complex. The honors recognize people “who, for no remuneration, dedicated so much time, energy and passion to Euless and its citizens,” said Martin, 69. “People who went beyond the call to make Euless not only wonderful but ‘FabEuless.’ ” It was very flattering to be singled out in a city of more than 50,000 residents, said Miller, 68. “I’m just one person,” Miller said. “I have to say, ‘Wow! Why me?’ ” The most significant facet of his council service was being part of the successful 1993 campaign to pass a half- penny sales tax, Miller said. “That was probably my start, really, in Euless, of working hard for the city,” Miller said. “That created funding for the library, the ballparks at Texas Star and economic development.” The namesake walkway is right next to the ballfield where Miller installed a billboard that says, “From a half- penny to a diamond,” Miller said. Walker said he’ll be happy with a bridge. “I’m thrilled to death to be recognized by the city in any shape form or fashion,” said Walker, 78. “I love Euless and it will be my home as long as I’m alive. Anything they do for me is a gift from God and I’m grateful.” Porterfield became a councilman in 1999 and served until his death in 2014. He was 75. Hogg served on the council from 1996 to 2014. Samuels was a councilman in 1965-69 and 1972-75, and was mayor in 1975-93. Saleh was a councilwoman in 1989-93, and was mayor in 1993-2014. Walker was on the council in 1975-90 and 1993-99. Miller’s council service was from 1993 to 2008. The recent spate of place names are not the first such honors in Euless, merely a resurgence, city spokeswoman Betsy Deck said. Around the city are such places as Bob Eden Park, renamed for a developer who was on the council from 1981 until his death in 1991. Fuller-Wiser Road and Byers Street are named for families who played important roles in Euless’ history. And the McCormick Barn in Heritage Park was donated by Willie Mae McCormick, Deck said. Read more here: http://www.star-telegram.com/news/local/community/hurst-euless- bedford_news/article39099876.html#storylink=cpy Rating Action: Moody's assigns Aa2 to Euless's, TX $3.4M Certificates of Obligation Series 2015 Global Credit Research - 16 Oct 2015 Affirms Aa2 on $35.3M in outstanding GOLT debt New York, October 16, 2015 -- Moody's Rating Issue: Tax and Waterworks and Sewer System (Limited Pledge) Revenue Certificates of Obligation, Series 2015;Rating: Aa2; Sale Amount: $3,350,000; Expected Sale Date: 10-19-2015; Rating Description: General ObligationLimited Tax Opinion Moody's Investors Service has assigned a Aa2 rating to the City of Euless's, TX $3.35 million Tax andWaterworks and Sewer System (Limited Pledge) Revenue Certificates of Obligation, Series 2015. At the sametime, we have affirmed the Aa2 on $35.34 million in outstanding parity debt. SUMMARY RATING RATIONALE The Aa2 reflects the city's favorable location within the Dallas-Fort Worth Metroplex, sizeable and growing taxbase, solid financial performance and reserves, and manageable debt profile despite future issuance plans. OUTLOOK Outlooks are generally not assigned to local governments with this amount of debt outstanding. WHAT COULD MAKE THE RATING GO UP • Substantial tax base expansion • Significant increase in reserve levels WHAT COULD MAKE THE RATING GO DOWN • Prolonged tax base contraction • Trend of operating deficits reducing reserves and financial flexibility OBLIGOR PROFILE Located equidistant from Dallas and Fort Worth, Euless incorporated in 1953 and covers 16.9 square miles. Thecity's population is estimated at 53,780 as of 2014. LEGAL SECURITY The certificates are payable for a direct and continuing ad valorem tax levied within the limits prescribed by law onall taxable property within the city. Additionally, the certificates are payable from a limited pledge not to exceed$1,000 of the net revenues of the city's water and sewer system. USE OF PROCEEDS The proceeds of the Series 2015 certificates will be used for various street improvements within the Glade Parkdevelopment. PRINCIPAL METHODOLOGY The principal methodology used in this rating was US Local Government General Obligation Debt published inJanuary 2014. Please see the Credit Policy page on www.moodys.com for a copy of this methodology. REGULATORY DISCLOSURES For ratings issued on a program, series or category/class of debt, this announcement provides certain regulatorydisclosures in relation to each rating of a subsequently issued bond or note of the same series or category/classof debt or pursuant to a program for which the ratings are derived exclusively from existing ratings in accordancewith Moody's rating practices. For ratings issued on a support provider, this announcement provides certainregulatory disclosures in relation to the rating action on the support provider and in relation to each particular ratingaction for securities that derive their credit ratings from the support provider's credit rating. For provisional ratings,this announcement provides certain regulatory disclosures in relation to the provisional rating assigned, and inrelation to a definitive rating that may be assigned subsequent to the final issuance of the debt, in each case wherethe transaction structure and terms have not changed prior to the assignment of the definitive rating in a mannerthat would have affected the rating. For further information please see the ratings tab on the issuer/entity page forthe respective issuer on www.moodys.com. Regulatory disclosures contained in this press release apply to the credit rating and, if applicable, the related ratingoutlook or rating review. 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