HomeMy WebLinkAbout2100 01-26-2016 ORDINANCE NO. 2100
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF EULESS
ACCEPTING AND APPROVING A SERVICE AND ASSESSMENT PLAN
AND ASSESSMENT ROLL FOR THE EULESS MIDTOWN PUBLIC
IMPROVEMENT DISTRICT; MAKING A FINDING OF SPECIAL BENEFIT
TO THE PROPERTY IN THE DISTRICT; LEVYING SPECIAL
ASSESSMENTS AGAINST PROPERTY WITHIN THE DISTRICT AND
ESTABLISHING A LIEN ON SUCH PROPERTY; PROVIDING FOR
PAYMENT OF THE ASSESSMENTS IN ACCORDANCE WITH CHAPTER
372, TEXAS LOCAL GOVERNMENT CODE; PROVIDING FOR THE
METHOD OF ASSESSMENT AND THE PAYMENT OF THE
ASSESSMENTS, PROVIDING PENALTIES AND INTEREST ON
DELINQUENT ASSESSMENTS, PROVIDING FOR SEVERABILITY, AND
PROVIDING AN EFFECTIVE DATE.
WHEREAS, on July 30, 2015, a petition was submitted and filed with the City
Secretary (the "City Secretary") of the City of Euless, Texas (the "City") pursuant to the
Public Improvement District Assessment Act, Chapter 372, Texas Local Government
Code, as amended (the "PID Act"), requesting the creation of a public improvement
district in the city limits of the City for the Euless Midtown Public Improvement District (the
"District"); and
WHEREAS, the petition contained the signature of the owner of taxable property
representing more than fifty percent of the appraised value of taxable real property liable
for assessment within the District, as determined by the then current ad valorem tax rolls
of the Tarrant Appraisal District, and the signature of the property owner who owned
taxable real property that constituted more than fifty percent of the area of all taxable
property within the District that is liable for assessment; and
WHEREAS, on August 25, 2015, after due notice, the City Council of the City (the
"City Council") held a public hearing in the manner required by law on the advisability of
the public improvements and services described in the petition as required by Sec.
372.9 of the PID Act and made the findings required by Sec. 372.009(b) of the PID Act
and, by Resolution No. 15-1471 (the "Authorization Resolution") adopted by a majority of
the members of the City Council, authorized and created the Euless Midtown Public
Improvement District (the "District") in accordance with its finding as to the advisability of
the Authorized Improvements; and
WHEREAS, on August 27, 2015. the City published the Authorization Resolution
in the Fort Worth Star-Telegram, a newspaper of general circulation in the City; and
WHEREAS, no written protests regarding the creation of the District from any
owners of record of property within the District were filed with the City Secretary within 20
days after August 27, 2015; and
WHEREAS, on October 13, 2015, the Council adopted Resolution No. 15-1477
(the "Cost Resolution") approving a preliminary service and assessment plan, determining
the total costs of the Authorized Improvements, directing the filing of a proposed
Assessment Roll, authorizing the publication of notice of a public hearing to consider the
levying of the Assessments against the property within the District (the "Levy and
Assessment Hearing") in a newspaper of general circulation in the City, and directing
related action; and
WHEREAS, the City Council, pursuant to Section 372.016(b) of the PID Act,
published notice of the Levy and Assessment Hearing on January 8, 2016 in the Fon`
Worth Star-Telegram, a newspaper of general circulation in the City; and
WHEREAS, the City Council, pursuant to Section 372.016(c) of the PID Act,
mailed the notice of the Levy and Assessment Hearing to the last known address of the
owners of the property liable for the Assessments; and
WHEREAS, the City Council convened the Levy and Assessment Hearing on the
26th day of January, 2016, at which all persons who appeared, or requested to appear, in
person or by their attorney, were given the opportunity to contend for or contest the
Assessment Roll, and the proposed Assessments, and to offer testimony pertinent to any
issue presented on the amount of the Assessments, the allocation of Costs of the
Authorized Improvements, the purposes of the Assessments, the special benefits of the
Assessments, and the penalties and interest on annual installments and on delinquent
annual installments of the Assessments; and
WHEREAS, the City Council finds and determines that the Assessment Roll and
the Euless Midtown Public Improvement District Service and Assessment Plan, dated
January 26, 2016 (the "Service and Assessment Plan"), attached as Exhibit A hereto
and which is incorporated herein for all purposes, should be approved and that the
Assessments should be levied as provided in this Ordinance and the Service and
Assessment Plan and the Assessment Roll attached thereto as Appendix E; and
WHEREAS, the City Council further finds that there were no written objections or
evidence submitted to the City Secretary in opposition to the Service and Assessment
Plan, the allocation of Costs of the Authorized Improvements, the Assessment Roll, or
the levy of the Assessments; and
WHEREAS, the City Council closed the hearing, and, after considering all written
and documentary evidence presented at the hearing, including all written comments and
statements filed with the City, determined to proceed with the adoption of this Ordinance
in conformity with the requirements of the PID Act.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF EULESS, TEXAS, THAT:
Ordinance No.2100, Page 2 of 55
SECTION 1.
TERMS. Terms not otherwise defined herein are defined in the Service and
Assessment Plan.
SECTION 2.
FINDINGS. The findings and determinations set forth in the preambles hereof are
hereby incorporated by reference and made a part of this Ordinance for all purposes as
if the same were restated in full in this Section. The City Council hereby finds, determines,
and ordains, as follows:
a) The apportionment of the Costs of the Authorized Improvements (as reflected in
the Service and Assessment Plan, and the Annual Collection Costs pursuant to
the Service and Assessment Plan) is fair and reasonable, reflects an accurate
presentation of the special benefit each assessed Parcel will receive from the
construction of the Authorized Improvements identified in the Service and
Assessment Plan, and is hereby approved;
b) The Service and Assessment Plan covers a period of at least five years and
defines the annual indebtedness and projected costs for the Authorized
Improvements;
c) The Service and Assessment Plan apportions the Cost of an Authorized
Improvement to be assessed against the property in the District and such
apportionment is made on the basis of special benefits accruing to the property
because of the Authorized Improvements;
d) All of the real property in the District which is being assessed in the amounts shown
in the Assessment Roll will be benefited by the Authorized Improvements proposed
to be constructed as described in the Service and Assessment Plan, and each
assessed Parcel will receive special benefits in each year equal to or greater than
each annual Assessment and will receive special benefits during the term of the
Assessments equal to or greater than the total amount assessed;
e) The method of apportionment of the Costs of the Authorized Improvements and
Annual Collection Costs set forth in the Service and Assessment Plan results in
imposing equal shares of the Costs of the Authorized Improvement Costs and
Annual Collection Costs on property similarly benefited, and results in a
reasonable classification and formula for the apportionment of the Costs;
f) The Service and Assessment Plan should be approved as the service plan and
assessment plan for the District as described in Sections 372.013 and 372.014 of
the PID Act;
g) The Assessment Roll in the form attached as Appendix E to the Service and
Assessment Plan (the "Assessment Roll") should be approved as the Assessment
Roll for the District;
h) The provisions of the Service and Assessment Plan relating to due and
delinquency dates for the Assessments, interest on Annual Installments, interest
and penalties on delinquent Assessments and delinquent Annual Installments, and
procedures in connection with the imposition and collection of Assessments should
Ordinance No. 2100, Page 3 of 55
be approved and will expedite collection of the Assessments in a timely manner in
order to provide the services and improvements needed and required for the area
within the District; and
i) A written notice of the date, hour, place and subject of this meeting of the City
Council was posted at a place convenient to the public for the time required by law
preceding this meeting, as required by the Open Meetings Act. Chapter 551, Texas
Government Code, as amended, and that this meeting has been open to the public
as required by law at all times during which this Ordinance and the subject matter
hereof has been discussed, considered, and formally acted upon.
SECTION 3.
ASSESSMENT PLAN. The Service and Assessment Plan is hereby accepted and
approved pursuant to Sections 372.013 and 372.014 of the PID Act as the service plan
and the assessment plan for the District.
SECTION 4.
ASSESSMENT ROLL. The Assessment Roll is hereby accepted and approved
pursuant to Section 372.016 of the PID Act as the Assessment Roll of the District.
SECTION 5.
LEVY AND PAYMENT OF SPECIAL ASSESSMENTS FOR COSTS OF
IMPROVEMENT PROJECT.
a) The City Council hereby levies an assessment on each tract of property (excluding
non-benefitted property) located within the District, as shown and described on the
Service and Assessment Plan and the Assessment Roll, in the respective amounts
shown on the Assessment Roll as a special assessment on the properties set forth
in the Assessment Roll.
b) The levy of the Assessments shall be effective on the date of execution of this
Ordinance levying Assessments and strictly in accordance with the terms of the
Service and Assessment Plan.
c) The collection of the Assessments shall be as described in the Service and
Assessment Plan.
d) Each Assessment may be paid in a lump sum at any time or may be paid in Annual
Installments pursuant to the terms of the Service and Assessment Plan.
e) Each Assessment shall bear interest at the rate or rates specified in the Service
and Assessment Plan.
f) Each Annual Installment shall be collected each year in the manner set forth in the
Service and Assessment Plan.
g) The Annual Collection Costs for Assessed Properties shall be calculated pursuant
to the terms of the Service and Assessment Plan.
Ordinance No.2100, Page 4 of 55
SECTION 6.
METHOD OF ASSESSMENT. The method of apportioning the Costs is as set forth
in the Service and Assessment Plan.
SECTION 7.
PENALTIES AND INTEREST ON DELINQUENT ASSESSMENTS. Delinquent
Assessments shall be subject to the penalties, interest, procedures, and foreclosure sales
set forth in the Service and Assessment Plan. The Assessments shall have lien priority
as specified in the PID Act and the Service and Assessment Plan.
SECTION 8.
PREPAYMENT OF ASSESSMENTS. As provided in Section VI of the Service and
Assessment Plan, the owner of any Assessed Property may prepay the Assessments
levied by this Ordinance.
SECTION 9.
LIEN PRIORITY. The City Council and the owners of property in the District intend
for the obligations, covenants and burdens on the landowners of Assessed Property,
including without limitation the property owners' obligations related to payment of the
Assessments and the Annual Installments thereof, to constitute covenants that shall run
with the land. The Assessments and the Annual Installments thereof which are levied
hereby shall be binding upon the Assessed Parties, as the owners of the Assessed
Property in the District, and their respective transferees, legal representatives, heirs,
devisees, successors and assigns in the same manner and for the same period as such
parties would be personally liable for the payment of ad valorem taxes under applicable
law. Assessments shall have lien priority as specified in the Service and Assessment
Plan and the PID Act.
SECTION 10.
APPOINTMENT OF ADMINISTRATOR AND COLLECTOR OF ASSESSMENTS.
a) Appointment of Administrator. MuniCap, Inc., of Columbia, Maryland, is hereby
appointed and designated as the initial Administrator of the Service and
Assessment Plan and of Assessments levied by this Ordinance. The administrator
shall perform the duties of the Administrator described in the Service and
Assessment Plan and in this Ordinance. The Administrator's fees, charges and
expenses for providing such service shall constitute an Annual Collection Cost.
b) Appointment of Temporary Collector. City Secretary is hereby appointed and
designated as the temporary collector of the Assessments (the "Collector"). The
Collector shall serve in such capacity until such time as the City shall arrange for
Ordinance No. 2100, Page 5 of 55
the Collector's duties to be performed by the Tarrant County Tax Assessor and
Collector or another qualified collection agent selected by the City.
SECTION 11.
APPLICABILITY OF TAX CODE. To the extent not inconsistent with this
Ordinance, and not inconsistent with the PID Act or the other laws governing public
improvement districts, the provisions of the Texas Tax Code shall be applicable to the
imposition and collection of Assessments by the City.
SECTION 12.
SEVERABILITY. If any provision, section, subsection, sentence, clause, or phrase
of this Ordinance, or the application of same to any person or set of circumstances is for
any reason held to be unconstitutional, void, or invalid, the validity of the remaining
portions of this Ordinance or the application to other persons or sets of circumstances
shall not be affected thereby, it being the intent of the City Council that no portion hereof,
or provision or regulation contained herein shall become inoperative or fail by reason of
any unconstitutionality, voidness, or invalidity or any other portion hereof, and all
provisions of this ordinance are declared to be severable for that purpose.
SECTION 13.
EFFECTIVE DATE. This Ordinance shall take effect, and the levy of the
Assessments, and the provisions and terms of the Service and Assessment Plan shall be
and become effective upon passage and execution hereof.
PRESENTED AND PASSED ON FIRST AND FINAL READING at a regular
meeting of the Euless City Council on January 26, 2016, by a vote of 6 ayes,
o nays, and n abstentions.
APPROVED: APPROVED AS TO FORM:
ai tin,
:-.2PlOr.qa.217
Linda Mayor----(aArt) Wayne K. Olson, City Attorney
ATTEST:
f'
Kim S tter, T MC, City Secretary
Ordinance No.2100, Page 6 of 55
Exhibit A
Service and Assessment Plan
Ordinance No.2100, Page 7 of 55
EULESS MIDTOWN
PUBLI IMPROVEMENT IM ROVEMENT DISTNICT
SERVICE AND ASSESSMENT PLAN
JANUARY 26,2016
t/ i("ap,Inc v1.6.2
Ordinance No.2100. Page 8 of 55
EULESS MIDTOWN
PUBLIC IMPROVEMENT DISTRICT
SERVICE AND ASSESSMENT PLAN
Table of Contents
Section I Plan Description and Defined Terms 1
Section II Property Included in the PID 6
Section III Description of Authorized Improvements 7
Section IV Service Plan 10
Section V Assessment Plan 13
Section VI Terms of the Assessments 18
Section VII Assessment Roll 22
Section VIII Miscellaneous Provisions 23
List of Appendix
Appendix A The PID Map
Appendix B Estimated Costs of the Authorized Improvements
Appendix C Diagrams of the Authorized Improvements
Appendix D Land Use Class and Equivalent Units
Appendix E Assessment Roll
MuniCap,Inc. vl 6
Ordinance No.2100, Page 9 of 55
Section I
PLAN DESCRIPTION AND DEFINED TERMS
A. jptroductiop
On August 25, 2015, the City Council of Euless, Texas (the "City") passed and approved
Resolution No. 15-1471 approving and authorizing the creation of the Euless Midtown Public
Improvement District ("PID") to finance the costs of certain public improvements for the benefit
of property in the PID, all of which is located within the corporate limits of the City. This
Service and Assessment Plan addresses the improvements to be provided for the PID.
Chapter 372 of the Texas Local Government Code, the "Public Improvement District
Assessment Act" (as amended, the "PID Act"), governs the creation and operation of public
improvement districts within the State of Texas. This Service and Assessment Plan has been
prepared pursuant to the PID Act and specifically Sections 372.013, 372.014, 372.015 and
372.016, which address the requirements of a service and assessment plan and the assessment
roll. According to Section 372.013 of the PID Act, a service plan "must cover a period of at least
five years and must also define the annual indebtedness and the projected costs for
improvements. The plan shall be reviewed and updated annually for the purpose of determining
the annual budget for improvements." The service plan is described in Section IV of this Service
and Assessment Plan.
Section 372.014 of the PID Act states that "an assessment plan must be included in the annual
service plan." The assessment plan is described in Section V of this Service and Assessment
Plan.
Section 372.015 of the PID Act states that "the governing body of the municipality or county
shall apportion the cost of an improvement to be assessed against property in an improvement
district." The method of assessing the PID Costs and apportionment of such costs to the property
in the PID is included in Section V of this Service and Assessment Plan.
Section 372.016 of the PID Act states that "after the total cost of an improvement is determined,
the governing body of the municipality or county shall prepare a proposed assessment roll. The
roll must state the assessment against each parcel of land in the district, as determined by the
method of assessment chosen by the municipality or county under this subchapter." The
Assessment Roll for the PID is included as Appendix E of this Service and Assessment Plan.
The Assessments as shown on the Assessment Roll are based on the method of assessment and
apportionment of costs described in Section V of this Service and Assessment Plan.
B. Definitions
Capitalized terms used herein shall have the meanings ascribed to them as follows:
"Administrator" means the employee or designee of the City who shall have the responsibilities
provided for herein or in any other agreement approved by the City Council.
"Annual Collection Costs" mean the following actual or budgeted costs, as applicable, related
to the annual collection costs of outstanding Assessments paid in installments, including the
costs or anticipated costs of: (i) issuing, refunding or refinancing Certificates of Obligation(CO),
1
Ordinance No.2100,Page 10 of 55
(ii) computing, levying, collecting and transmitting the Assessments (whether by the City, the
Administrator or otherwise), (iii) remitting the Assessments to the City, (iv) the City, the
Administrator, a trustee or funding agent and any other entities related to the PID and authorized
by the City (including legal counsel) in the discharge of their duties, (v) complying with
arbitrage rebate requirements, if any, (vi) complying with securities disclosure requirements, if
any, and (vii) the City in any way related to the collection of the Assessments in installments,
including, without limitation, the administration of the PID, maintaining the record of
installments, payments and reallocations and/or cancellations of Assessments, and the repayment
of the CO, including, without limitation, any associated legal expenses, the reasonable costs of
other consultants and advisors and contingencies and reserves for such costs as deemed
appropriate by the City Council. Assessments collected to pay Annual Collection Costs and not
expended for actual Annual Collection Costs shall be carried forward and applied to reduce
Annual Collection Costs in subsequent years to avoid the over-collection of Annual Collection
Costs.
"Annual Installment" means, with respect to each Assessed Parcel, each annual payment the
Assessments as shown on the Assessment Roll attached as Appendix E and related to the CO and
the Authorized Improvements; which annual payment includes the 0.20% additional interest
collected on each annual payment of the Assessments for the prepayment reserve and the 0.30%
additional interest rate collected on each annual payment of the Assessments for the delinquency
reserve as defined and calculated in Section V of this Service and Assessment Plan or in any
Annual Service Plan Update.
"Annual Service Plan Update" has the meaning set forth in the first paragraph of Section IV of
this Service and Assessment Plan.
"Assessed Property" means the property that benefits from the Authorized Improvements to be
provided by the PID on which Assessments have been imposed as shown in the Assessment Roll,
as the Assessment Roll is updated each year by the Annual Service Plan Update. Assessed
Property includes Parcels within the PID other than Non-Benefited Property.
"Assessment" means the assessment levied against Parcels within the PID imposed pursuant to
the Assessment Ordinance and the provisions herein as shown on the Assessment Roll, subject to
reallocation upon the subdivision of such Parcel or reduction according to the provisions herein
and the PID Act. The Assessment for a Parcel consists of the Annual Installments to be collected
in all years and includes the Assessments including those collected to pay Annual Collection
Costs, and interest on the Assessments.
"Assessment Ordinance" means the ordinance approved by the City Council approving the
final Assessment Roll, and levying the Assessments.
"Assessment Revenues" mean the revenues actually received by or on behalf of the City from
the collection of Assessments.
"Assessment Roll" means the document included in this Service and Assessment Plan as
Appendix E, as updated, modified or amended from time to time in accordance with the
procedures set forth herein and in the PID Act.
2
Ordinance No. 2100, Page 11 of 55
"Authorized Improvements" mean those public improvements described in Appendix B of this
Service and Assessment Plan and authorized by Section 372.003 of the PID Act, which are to be
undertaken by the PID for the benefit of property in the PID.
"Authorized Improvement Costs" mean the demonstrated, reasonable, allocable, and allowable
costs of constructing the Authorized Improvements as shown in Appendix B that are specified in
a Certification of Payment that has been reviewed and approved by the City. Actual Costs may
include: (a) the costs for the design, planning, financing, administration, management,
acquisition, installation, construction and/or implementation of any Authorized Improvement,
including general contractor construction management fees, if any, (b) the costs of preparing the
construction plans for any Authorized Improvement, (c) the fees paid for obtaining permits,
licenses, or other governmental approvals for any Authorized Improvement, (d) the costs for
external professional costs associated with an Authorized Improvement, such as engineering,
geotechnical, surveying, land planning, architectural landscapers, advertising, marketing and
research studies, appraisals, legal, accounting and similar professional services, (e) the costs of
all labor, bonds and materials, including equipment and fixtures, incurred by contractors,
builders and material men in connection with the acquisition, construction or implementation of
an Authorized Improvement, and (f) all related permitting, zoning, and public approval expenses,
architectural, engineering, legal and consulting fees, financing charges, taxes, governmental fees
and charges (including inspection fees, county permit fees, and development fees), insurance
premiums, miscellaneous expenses, and all advances and payments of Annual Collection Costs,
if any. Authorized Improvement Costs include general contractor's fees in an amount up to a
percentage equal to the percentage of work completed and accepted by the City or construction
management fees in an amount up to five percent of the eligible Authorized Improvement Costs
described in a Certification for Payment. The amounts expended on legal costs, taxes,
governmental fees, insurance premiums, permits, financing costs, and appraisals should be
excluded from the base upon which the general contractor and construction management fees are
calculated.
"Benefited Property" means property within the PID that receives a benefit from the
Authorized Improvements, which consists of all Parcels within the PID other than Non-Benefited
Property. Benefited Property is identified on the map of the PID included an Appendix A, with a
list of Parcels of Benefited Property included in Appendix E.
"Certification for Payment" means the certificate required under the Construction, Funding
and Development Agreement (CFD) that is executed by an engineer, construction manager or
other person or entity acceptable to the City, as evidenced by the signature of a City
Representative (as defined in the CFD) specifying the amount of work performed and the costs
thereof, to substantiate the Authorized Improvement Cost of one or more Authorized
Improvements.
"Certificates of Obligation" or "CO" mean any bonds or certificates of obligation issued by
the City in one or more series issued to finance the Authorized Improvement Costs and secured
by Assessment Revenues.
"Construction, Funding and Development Agreement" or "CFD" means an agreement or
similar document by and between the City and the Developer setting forth the terms and other
provisions relating to the construction of the Authorized Improvements, disbursement of project
3
Ordinance No.2100, Page 12 of 55
funds, use of Assessment Revenues etc. as modified, amended, and/or supplemented from time
to time.
"City"means the City of Euless, Texas.
"City Council" means the duly elected governing body of the City.
"Delinquent Collection Costs" mean interest, penalties and expenses incurred or imposed with
respect to any delinquent Annual Installments of an Assessment in accordance with §372.018(b)
of the PID Act and the costs related to pursuing collection of a delinquent Assessment and
foreclosing the lien against the Assessed Property, including attorneys' fees.
"Developer"means CADG 901 Airport Freeway, L.L.C.
"Land Use Class" means a classification of property with similar characteristics regarding the
intended use of the property (e.g. single-family residential, townhome residential, multifamily
residential, retail etc.), as determined by the Administrator and confirmed by the City Council.
"Non-Benefited Property" means Parcels within the boundaries of the PID that accrue no
special benefit from the Authorized Improvements, including Owner Association Property,
Public Property and easements that create an exclusive use for a public utility provider. Property
identified as Non-Benefited Property at the time the Assessments (i) are imposed or (ii) are
reallocated pursuant to a subdivision of a Parcel is not assessed. Assessed Property converted to
Non-Benefited Property, if the Assessments may not be reallocated pursuant to the provisions
herein, remains subject to the Assessments and requires the Assessments to be prepaid as
provided for in Section VI. C. 2.
"Owner Association Property" means property within the boundaries of the PID that is owned
by or irrevocably offered for dedication to, whether in fee simple or through an exclusive use
easement, a property owners' association.
"Parcel" or "Parcels" means a parcel or parcels within the PID identified by either a tax map
identification number assigned by the Tarrant Appraisal District for real property tax purposes or
by lot and block number in a final subdivision plat recorded in the real property records of
Tarrant County.
"PID Act" means Texas Local Government Code Chapter 372, Public Improvement District
Assessment Act, Subchapter A, Public Improvement Districts, as amended.
"PID" means Euless Midtown Public Improvement District.
"Prepayment Costs" mean interest and expenses to the date of prepayment, plus any additional
expenses related to the prepayment, reasonably expected to be incurred by or imposed upon the
City as a result of any prepayment of an Assessment.
"Public Property" means property within the boundaries of the PID that is owned by or
irrevocably offered for dedication to the federal government, the State of Texas, the City, a
4
Ordinance No.2100, Page 13 of 55
school district or any other public agency, whether in fee simple or through an exclusive use
easement.
"Service and Assessment Plan" means this Service and Assessment Plan prepared for the PID
pursuant to the PID Act.
"TIRZ No. 4" means the Tax Increment Reinvestment Zone No. 4, City of Euless, Texas.
"TIRZ Credit" means, for each Parcel, the prorated amount of TIRZ Revenues calculated
pursuant to Section VI (A) of this Service and Assessment Plan.
"TIRZ Ordinance" means Ordinance No. 2089 adopted by the City Council authorizing the use
of TIRZ Revenues for project costs under the Tax Increment Financing Act, Texas Tax Code,
Chapter 311, as amended, relating to the Authorized Improvements as provided for in the Tax
Increment Reinvestment Zone No. 4 Project Plan and Financing Plan (including amendments or
supplements thereto).
"TIRZ Revenues" mean, for each year, the amounts paid by the City from the TIRZ No. 4 tax
increment fund pursuant to the TIRZ Ordinance to reduce an Annual Installment, as calculated
each year by the Administrator in collaboration with the City, in accordance with Section VI.B
of this Service and Assessment Plan.
5
Ordinance No.2100, Page 14 of 55
Section II
PROPERTY INCLUDED IN THE PID
The PID is located within the City and contains approximately 56.884 acres of land. A map of
the property within the PID is shown on Appendix A to this Service and Assessment Plan. The
property within the PID is proposed to be developed as follows:
Table II-e
Proposed Development
Proposed Development Type Quantity Measurement
Residential - Single-Family 66 units
Residential—Townhomes 75 units
Residential—Row Houses 114 units
Residential - Multi-Family 393 units
Retail 67,100 Square feet
The current Parcels in the PID are shown on the Assessment Roll and the map included as
Appendix A.
The estimated number of units at the build-out of the PID is based on securing the appropriate
land use approvals for the property, the anticipated subdivision of property in the PID, and the
Developer's estimate of the highest and best use of the property within the PID.
6
Ordinance No.2100, Page 15 of 55
Section III
DESCRIPTION OF THE AUTHORIZED IMPROVEMENTS
Section 372.003 of the PID Act defines the improvements that may be undertaken by a
municipality or county through the establishment of a public improvement district, as follows:
372.003.Authorized Improvements
(a) If the governing body of a municipality or county finds that it promotes the interests of
the municipality or county, the governing body may undertake an improvement project
that confers a special benefit on a definable part of the municipality or county or the
municipality's extraterritorial jurisdiction. A project may be undertaken in the
municipality or county or the municipality's extraterritorial jurisdiction.
(b) A public improvement may include:
(i) landscaping;
(ii) erection of fountains,distinctive lighting,and signs;
(iii) acquiring, constructing, improving, widening, narrowing, closing, or rerouting
of sidewalks or of streets,any other roadways,or their rights-of way;
(iv)construction or improvement of pedestrian malls;
(v) acquisition and installation of pieces of art;
(vi)acquisition,construction,or improvement of libraries;
(vii) acquisition,construction,or improvement of off-street parking facilities;
(viii) acquisition, construction, improvement, or rerouting of mass transportation
facilities;
(ix) acquisition, construction, or improvement of water, wastewater, or drainage
facilities or improvements;
(x) the establishment or improvement of parks;
(xi) projects similar to those listed in Subdivisions(i)-(x);
(xii) acquisition, by purchase or otherwise, of real property in connection with an
authorized improvement;
(xiii) special supplemental services for improvement and promotion of the district,
including services relating to advertising, promotion, health and sanitation,
water and wastewater, public safety, security, business recruitment,
development,recreation,and cultural enhancement;and
(xiv) payment of expenses incurred in the establishment, administration, and
operation of the district;and
7
Ordinance No.2100, Page 16 of 55
(xv) the development,rehabilitation,or expansion of affordable housing.
After analyzing the public improvement projects authorized by the PID Act, the City has
determined that the Authorized Improvements as described in Appendix B and shown on the
diagram included as Appendix C should be undertaken by the City for the benefit of the property
within the PID. The estimated Authorized Improvement Costs are shown by Table III-A.
Table III-A
Estimated Authorized Improvement Costs
Total
Estimated PID
Authorized Improvements Costs
Roadway improvements $5,200,255
Water distribution system improvements $1,787,071
Sanitary sewer collection system improvements $1,540,751
Storm sewer collection system improvements $3,622,678
Hardscaping and amenities $2,111,201
Other costs including design,survey,geotech,bonding,
mobilization,contingency and miscellaneous soft costs $2,156,024
Total—Estimated Authorized Improvement Costs $16,417,980
The costs shown in Table III-A are current estimates and may be revised in Annual Service Plan
Updates.
The Authorized Improvements to be constructed include roadway improvements, water
distribution system improvements, storm sewer collection system improvements, wastewater
collection system improvements and hardscaping & public park improvements that will
provide service to the property intended for development within the PID.
Road Improvements
The roadway improvements include approximately 26,708 SY of 6-inch reinforced
concrete pavement and 31,500 SY of 8-inch treated sub- grade compacted to 95% SPD,
striping, a n d street signage. A detailed description of the roadway improvements and the
related costs are provided in the engineering cost estimates included as Appendix B. All
roadway improvements will be constructed according to the City requirements. See Table III-
A for cost details.
Water Distribution System Improvements
The water distribution system improvements consist of approximately 1,870 linear feet of
12- inch water lines, approximately 2,149 linear feet of 8-inch water lines, fire hydrants and
trench safety procedures. A detailed description of the water distribution system improvements
and the related costs are provided in the engineering cost estimates included as Appendix B.
All water distribution system improvements will be constructed according to the City
8
Ordinance No.2100,Page 17 of 55
requirements. This development will be served in its entirety by the City for all water and
sewer services. See Table III-A for cost details.
Sanitary Sewer Improvements
The sanitary sewer collection system improvements consist of approximately 4,234 linear
feet of 8-inch PVC, including sewer laterals, manholes and trench safety procedures. A
detailed description of the sanitary sewer collection system improvements and the related
costs are provided in the engineering cost estimates included as Appendix B. All sanitary
sewer collection system improvements will be constructed according to the City
requirements. See Table III-A for cost details.
storm Drainage Improvements
The storm sewer collection system improvements consist of approximately 3,086 linear feet
of various sized RCP pipes, manholes, junction boxes, inlets, headwalls and trench safety
procedures. A detailed description of the storm sewer collection system improvements and
the related costs are provided in the engineering cost estimates included as Appendix B. All
storm sewer collection system improvements will be constructed according to the City
requirements. See Table III-A for cost details.
Hardscaping
Hardscaping, which includes public park improvements, include the creation of a 4-acre
central lake, stone walls and pathways on approximately four acres, installation of over 1/2
mile of 6' wide concrete paths with seating areas, public art and public lighting details and
street lighting. All hardscaping improvements will be constructed according to the City
requirements. See Table III-A for cost details.
The water and sanitary sewer improvements listed above help create the grid for the water
line system and the sanitary sewer collection system for the property. The storm sewer
improvements collect and control the runoff created on each Parcel and conveys this runoff to
the large central lake, which also serves as a storm water detention pond for the property in
the PID. The road improvements provide for the traffic circulation within the property,
allowing access to and from the adjacent roadways to each Parcel.
Additional details of the Authorized Improvements are shown in Appendix B attached to this
Service and Assessment Plan. The method of cost allocation is explained in Section V (C).
The Authorized Improvements will provide a special benefit to all Assessed Property in the PID.
As described in Section V(C), the estimated Costs of the Authorized Improvements are fully
allocated to the Assessed Property within the PID. Table III-B shows the allocation of the
Authorized Improvements costs to the PID.
9
Ordinance No.2100, Page 18 of 55
Table III-B
Allocation of the Authorized Improvement Costs
Total
Estimated Cost
Total Percentage Allocated to
Authorized Improvements Estimated Cost Allocated the PID
Roadway improvements $5,200,255 100% $5,200,255
Water distribution system improvements $1,787,071 100% $1,787,071
Sanitary sewer collection system improvements $1,540,751 100% $1,540,751
Storm sewer collection system improvements $3,622,678 100% $3,622,678
Hardscaping and amenities $2,111,201 100% $2,111,201
Other costs including design,survey,geotech,
bonding,mobilization,contingency and
miscellaneous soft costs $2,156,024 100% $2,156,024
Total $16,417,980 $16,417,980
The costs shown in Tables III-A and III-B are estimates and may be revised in Annual Service
Plan Updates. The detailed costs of the Authorized Improvements are shown in Appendix B to
this Service and Assessment Plan. Savings from one line item may be applied to a cost increase
in another line item. These savings may be applied only to increases in costs of the Authorized
Improvements(i.e., the improvements for the benefit of property within the PID).
10
Ordinance No.2100, Page 19 of 55
Section IV
SERVICE PLAN
A. Sources and Uses of Funds
The PID Act requires a service plan to cover a period of at least five years. The service plan is
required to define the annual projected costs and indebtedness for the Authorized Improvements
undertaken within the PID. All of the PID Costs are expected to be expended during the first five
years after adoption of this Service and Assessment Plan. The plan shall be reviewed and
updated annually for the purpose of determining the annual budget for the Authorized
Improvements. The annual update to this Service and Assessment Plan is herein referred to as the
"Annual Service Plan Update."
COs have been in 2016. Table IV-A shows the estimated sources and uses of the CO.
Table IV-A
Sources and Uses of Funds
Sources of Funds: Funded by
the PID
CO proceeds $16,450,000
Total sources of funds $16,450,000
Uses of Funds:
Construction costs:-
Estimated construction costs paid with CO $16,417,980
Subtotal:Construction costs $16,417,980
Costs of issuing the CO
Net CO issuance costs $32,020
Subtotal: Costs of issuing the CO $32,020
Total uses of funds $16,450,000
This sources and uses of funds table is subject to revision and the actual sources and uses of
funds for any line item may be different than shown above. The sources and uses of funds
shown in Table IV-A will be finalized upon the issuance and sale of the CO.
11
Ordinance No.2100, Page 20 of 55
B. Annual Costs and Indebtedness
The annual projected costs and annual projected indebtedness is shown by Table IV-B. The
annual projected costs and indebtedness is subject to revision and shall be updated each in the
Annual Service Plan Update to reflect any changes in the PID Costs or indebtedness expected for
each year.
Table IV-B
Annual Projected Costs and Indebtedness
Annual Annual
Year Projected Projected
Costs Indebtedness
1 $16,450,000 $16,450,000
2 $0 $0
3 $0 $0
4 $0 $0
5 $0 $0
Total $16,450,000 $16,450,000
C. Annual Debt Service
The annual debt service is shown by Table IV-C. The annual debt service includes the annual
debt service on the CO.
The Annual Installments represent the amount of Assessments expected to be collected each year
based on the amount of debt service on the CO as shown in Table IV-A, which were issued to
pay the Authorized Improvement Costs shown in Table III-B, and the Annual Collection Costs.
The annual debt service and collection costs amounts shown are subject to revision and shall be
updated each year in the Annual Service Plan Update to reflect any changes in the amount of
principal, interest and collection costs expected to be paid each year.
12
Ordinance No.2100, Page 21 of 55
Table IV-C
Annual CO Debt Service
Period Total Debt
Ending Principal' Interest' Service
9/30/2016 $0 $267,941 $267,941
9/30/2017 $0 $489,638 $489,638
9/30/2018 $380,000 $489,638 $869,638
9/30/2019 $515,000 $482,038 $997,038
9/30/2020 $530,000 $466,588 $996,588
9/30/2021 $540,000 $455,988 $995,988
9/30/2022 $550,000 $445,188 $995,188
9/302023 $570,000 $428,688 $998,688
9/30/2024 $590,000 $405,888 $995,888
9/30/2025 $605,000 $392,613 $997,613
9/30/2026 $620,000 $374,463 $994,463
9/30/2027 $640,000 $355,863 $995,863
9/30/2028 $660,000 $336,663 $996,663
9/30/2029 $680,000 $316,863 $996,863
9/30/2030 $700,000 $296,463 $996,463
9/30/2031 $720,000 $275,463 $995,463
9/30/2032 $745,000 $253,863 $998,863
9/30/2033 $765,000 $231,513 $996,513
9/30/2034 $790,000 $208,563 $998,563
9/30/2035 $810,000 $184,863 $994,863
9/30/2036 $835,000 $160,563 $995,563
9/30/2037 $865,000 $134,469 $999,469
9/30/2038 $890,000 $107,438 $997,438
9/30/2039 $920,000 $79,625 $999,625
9/30/2040 $950,000 $49,725 $999,725
9/30/2041 $580,000 $9,425 $589,425
Total $16,450,000 $7,700,022 $24,150,022
1 -The CO principal and interest amounts are based on the final CO numbers. The
interest amounts are calculated using a true interest rate of 3.001%and issuance date of
01/12/16.
Ordinance No.2100, Page 22 of 55 13
1
Section V
ASSESSMENT PLAN
A. btroductiou
The PID Act requires the City Council to apportion the PID Costs on the basis of special benefits
conferred upon the property because of the Authorized Improvements. The PID Act provides
that the PID Costs may be assessed: (i) equally per front foot or square foot; (ii) according to the
value of the property as determined by the governing body, with or without regard to
improvements on the property; or (iii) in any other manner that results in imposing equal shares
of the cost on property similarly benefited. The PID Act further provides that the governing
body may establish by ordinance or order reasonable classifications and formulas for the
apportionment of the cost between the municipality and the area to be assessed and the methods
of assessing the special benefits for various classes of improvements. Section V of this Service
and Assessment Plan describes the special benefit received by each Parcel of Assessed Property
as a result of the Authorized Improvements, provides the basis and justification for the
determination that this special benefit exceeds the amount of the Assessments, and establishes
the methodology by which the City Council allocates the special benefit of the Authorized
Improvements to Parcels in a manner that results in equal shares of the PID Costs being
apportioned to Parcels similarly benefited. The determination by the City Council of the
assessment methodology set forth below is the result of the discretionary exercise by the City
Council of its legislative authority and governmental powers and is conclusive and binding on
the Developer and all future owners within the Assessed Property.
B. Special Benefit
Benefited Property receives a benefit from the Authorized Improvements. The Assessed Property
will receive a direct and special benefit from the Authorized Improvements, and this benefit will
be equal to or greater than the amount of the Assessments. The Authorized Improvements (more
particularly described in line-item format on Appendix B to this Service and Assessment Plan)
and the costs of issuance and payment of costs incurred in the establishment, administration, and
operation of the PID shown in Table IV-A are authorized by the Act. These improvements are
provided specifically for the benefit of the Assessed Property.
The majority owner of the Assessed Property has acknowledged and agreed to the
determinations and findings as to benefits by the City Council in the Service and Assessment
Plan and the Assessment Ordinance, specifically including the special benefit conferred on the
Assessed Property by the Authorized Improvements, as well as any other terms and provisions
within these documents, and have, therefore, consented to the imposition of the Assessments to
pay the PID Costs. The owner or Developer is acting in its interest in consenting to this
imposition, because the special benefit conferred upon the Assessed Property by the Authorized
Improvements exceeds the amount of the Assessments.
The public improvements provide a special benefit to the Assessed Property as a result of the
close proximity of these improvements to the Assessed Property and the specific purpose of
these improvements of providing infrastructure for the Assessed Property. In other words, the
Assessed Property could not be used in the manner proposed without the construction of the
14
Ordinance No.2100. Page 23 of 55
Authorized Improvements. The Authorized Improvements are being provided specifically to
meet the needs of the Assessed Property as required for the proposed use of the property.
The Assessments are being levied to provide the Authorized Improvements that are required for
the highest and best use of the Assessed Property (i.e., the use of the property that is most
valuable, including any costs associated with that use). Highest and best use can be defined as
"the reasonably probable and legal use of property, which is physically possible, appropriately
supported, financially feasible, and that results in the highest value." (Dictionary of Real Estate
Appraisal, Third Edition.) The Authorized Improvements are expected to be required for the
proposed use of the Assessed Property to be physically possible, appropriately supported,
financially feasible, and maximally productive.
The Developer has evaluated the potential use of the property and has determined that the
highest and best use of the property is the use intended and the legal use for the property as
described in Section II of this Service and Assessment Plan. The use of the Assessed Property as
described herein will require the construction of the Authorized Improvements.
Funding of the Authorized Improvement Costs by the PID is determined to be the most
beneficial means of financing the Authorized Improvements. Since the Authorized
Improvements are required for the highest and best use of the Assessed Property, and the PID
provides the most beneficial means of providing the Authorized Improvements, the Assessments
result in a special benefit to the Assessed Property, and this special benefit exceeds the amount
of the Assessments. This conclusion is based on and supported by the evidence, information,
and testimony provided to the City Council.
In summary, the Assessments result in a special benefit to the Assessed Property for the
following reasons:
1. The Authorized Improvements are being provided specifically for the use of the Assessed
Property, are necessary for the proposed best use of the property and provide a special
benefit to the Assessed Property as a result;
2. The Developer has consented to the imposition of the Assessments for the purpose of
providing the Authorized Improvements and the Developer is acting in its interest by
consenting to this imposition;
3. The Authorized Improvements are required for the highest and best use of the property;
4. The highest and best use of the Assessed Property is the use of the Assessed Property that
is most valuable (including any costs associated with the use of the Assessed Property);
5. Financing of the Authorized Improvement Costs by the PID is determined to be the most
beneficial means of providing for the Authorized Improvements; and,
6. As a result, the special benefits to the Assessed Property from the Authorized
Improvements will be equal to or greater than the Assessments.
Ordinance No.2100, Page 24 of 55 15
C. Allocation of Costs to Assessed Property
The Authorized Improvements will provide a special benefit to all Assessed Property in the PID.
Accordingly, the estimated Authorized Improvement Costs are fully allocated to the Assessed
Property within the PID. Table III-B summarizes the allocation of Authorized Improvement
Costs. The costs shown in Table III-B are estimates and may be revised in Annual Service Plan
Updates, but may not result in increased Assessments without consent by each of the owners of
the Parcels to the imposition of the increased Assessments to pay for the Actual Costs.
D. Assessment Methodolo<ry
1. The PID Costs may be assessed by the City Council against the Assessed Property so
long as the special benefit conferred upon the Assessed Property by the Authorized
Improvements equals or exceeds the Assessments. The Authorized Improvement Costs may be
assessed using any methodology that results in the imposition of equal shares of the Authorized
Improvement Costs on Assessed Property similarly benefited.
2. For purposes of this Service and Assessment Plan, the City Council has determined that
the Authorized Improvement Costs shall be allocated to the Assessed Property spreading the
entire Assessment across the Parcels based on the ratio of estimated average value at build-out
within each Land Use Class ("Equivalent Units") as calculated and shown in Appendix D using
the proposed development types and quantity anticipated to be developed on each Parcel. The
Equivalent Units for each class of property are based on the estimated value of the intended use
of the property, as shown in Appendix D. As explained in Appendix D, such method of
allocation will result in the imposition of equal shares of the Authorized Improvement Costs to
Parcels similarly benefited.
Upon subsequent divisions of any Parcel, the Assessment applicable to it will then be
apportioned pro rata based on the Equivalent Units of each newly created Parcel. The result of
this approach is that the Assessment allocated to each Parcel, as each Parcel is subdivided, will
be allocated an assessment that reasonably relates to the benefit received by the Parcel from the
Authorized Improvements.
3. The following table (Table V-A) shows the calculation of the Assessment per Equivalent
Unit. The description of each Land Use Class and the calculation of the Equivalent Units are
described in Appendix D. There are a total of 348.60 Equivalent Units expected to be built on the
Assessed Property. The total Assessments, which represent the amount of CO to be issued, are
equal to $16,450,000 as shown in Table IV-C. As a result the Assessment per Equivalent Unit is
$47,189 as shown in Table V-A below.
16
Ordinance No. 2100, Page 25 of 55
TABLE V-A
Assessment per Unit
Estimated Total Assessment
Value per Equivalent Equivalent per Unit
Land Use Class Units unit Unit Factor Units (per L000 s.f.)
Class 1 66 $360,000 1.00 66.00 $47,189
Class 2 75 $285,000 0.79 59.25 $37,280
Class 3 114 $235,000 0.65 74.10 $30,673
Class 4 393 $90,000 0.25 98.25 $11,797
Class 51 67.10 $275,000 0.76 51.00 $35,864
Total 348.60
Total Assessments (Total CO issued) $16,450,000
Assessment per Equivalent Unit $47,189
1-The units and estimated values per unit are presented per 1,000 square feet and used as such in the calculation of the Equivalent Unit Factors.
E. Assessments
The Assessments will be levied on each Parcel as shown in the Assessment Roll attached hereto
as Appendix E. The Annual Installments will be collected in the amounts shown on the
Assessment Roll, which may be subject to revisions made during an Annual Service Plan
Update.
F. Administrative Expenses
The cost of administering the PID and collecting the Annual Installments shall be paid for on a
pro rata basis by each Parcel based on the amount of Assessment levied against the Parcel.
Assessments will be collected each year for the payment of Annual Collection Costs and shall be
collected as part of and in the same manner as Annual Installments in the amounts shown on the
Assessment Roll, which may be revised based on actual costs incurred in Annual Service Plan
Updates.
G. Prepayment Reserve
Pursuant to the PID Act, the interest rate for Assessments may exceed the actual interest rate per
annum paid on the related CO by no more than one half of one percent (0.50%). The interest rate
used to determine the Assessments is one half of one percent (0.50%) per annum higher than the
actual rate paid on the CO, with up to 0.20% allocated to fund the associated interest charged
between the date of prepayment of an Assessment and the date on which CO are prepaid until
such Prepayment Reserve is 1.5% (one-and-half percent) of the outstanding CO amounts, and
0.30%allocated to fund a delinquency reserve account as described below.
H. Delinquency Reserve
The City has allocated initially up to 0.30%, until the Prepayment Reserve is fully funded and
0.5% afterwards, of the interest rate component of the Annual Installments to offset any possible
17
Ordinance No.2100, Page 26 of 55
delinquent payments. The delinquency reserve shall be funded up to an amount equal to the
maximum annual CO debt service payment or 10% (ten percent) of the outstanding CO balance
(as calculated and adjusted by the Administrator and approved by the City every year), but in no
event will the annual collection, together with the prepayment reserve be more than 0.50%
higher than the actual interest rate paid on the CO. If the prepayment reserve and delinquency
reserve contain the amounts specified herein, then the 0.50% of the interest rate component of
the Annual Installments will be used to retire CO early or other uses related to the Authorized
Improvements as approved by City.
I. TIRZ Credit
Pursuant to the TIRZ Ordinance, the City has agreed to use TIRZ Revenues generated from each
Parcel to offset a portion of such Parcel's PID assessments (the "TIRZ Credit"). The Annual
Installment for each Parcel shall be calculated by taking into consideration any TIRZ Credit
applicable to the Parcel. The TIRZ Credit applicable to each Parcel shall be calculated as
described under Section VI (B) of this Service and Assessment Plan.
1 g
Ordinance No.2100, Page 27 of 55
Section VI
TERMS OF THE ASSESSMENTS
A. Amount of Assessments
The Assessment for each Parcel is shown on the Assessment Roll, and no Assessment shall be
changed except as authorized by this Service and Assessment Plan (including the Annual Service
Plan Updates) and the PID Act. The Assessments shall not exceed the amount required to repay
principal and interest on the CO and Annual Collection Costs.
The Annual Installments shall be collected in an amount sufficient to pay principal and interest
on the CO, to fund the prepayment reserve and delinquency reserve described in Section V, and
to cover Administrative Expenses of the PID. The Annual Installment for each Parcel shall be
calculated by taking into consideration any TIRZ Credit applicable to the Parcel. The TIRZ
Credit for each Parcel shall be calculated using the following formula:
A= Bx (C =D)
Where the terms have the following meanings:
A = the TIRZ Credit amount for a Parcel
B = the total TIRZ Revenues collected and available for the preceding year
C = the total Equivalent Unit of the Parcel
D = the total Equivalent Units of all Parcels
The TIRZ Revenues collected and available in any given year shall be used to calculate the TIRZ
Credit in the following year (i.e., TIRZ Revenues collected in 2015 shall be used to calculate the
TIRZ Credit applicable to Annual Installments to be collected in 2016). TIRZ Credits shall be
calculated for those Parcels that are subject to Assessments by the PID. The total TIRZ Revenues
collected from all Parcels in the PID shall be used to calculate the TIRZ Credit applicable to each
Parcel in the PID based on the above formula. The total TIRZ increment amount generated by all
Parcels of Assessed Property will be divided by the total Equivalent Units in the PID to
determine the TIRZ credit applicable to each Parcel of Assessed Property. The Equivalent Units
to be used for the calculation of the TIRZ Credit shall be determined by the Administrator based
on the information available to the Administrator at the time of such calculations.
B. Reallocation of Assessments
1. Subdivision
Upon the subdivision of any Parcel, the Assessment for the Parcel prior to the subdivision shall
be reallocated among the new subdivided Parcels according to the following formula:
A=Bx (C =D)
Where the terms have the following meanings:
A = the Assessment for each new subdivided Parcel
B = the Assessment for the Parcel prior to subdivision
19
Ordinance No.2100, Page 28 of 55
C = the estimated number of units to be built on each newly subdivided Parcel
D = the sum of the estimated number of units to be built on all of the new subdivided
Parcels
The calculation of the estimated number of units to be built on a Parcel shall be performed by the
Administrator and confirmed by the City Council based on the information available regarding
the use of the Parcel. The estimate as confirmed shall be conclusive. The number of units to be
built on a Parcel may be estimated by net land area and reasonable density ratios.
The sum of the Assessments for all newly subdivided Parcels shall equal the Assessment for the
Parcel prior to subdivision. The calculation shall be made separately for each newly subdivided
Parcel. The reallocation of an Assessment for a Parcel that is a homestead under Texas law may
not exceed the Assessment prior to the reallocation and to the extent the reallocation would
exceed such amount, it shall be prepaid by such amount by the party requesting the subdivision
of the Parcels. Any reallocation pursuant to this section shall be reflected in an Annual Service
Plan Update approved by the City Council.
2. Consolidation
Upon the consolidation of two or more Parcels, the Assessment for the consolidated Parcel shall
be the sum of the Assessments for the Parcels prior to consolidation. The reallocation of an
Assessment for a Parcel that is a homestead under Texas law may not exceed the Assessment
prior to the reallocation and to the extent the reallocation would exceed such amount, it shall be
prepaid by such amount by the party requesting the consolidation of the Parcels. Any
reallocation pursuant to this section shall be reflected in an Annual Service Plan Update
approved by the City Council.
C. Mandatory Prepayment of Assessments
1. If a Parcel subject to Assessments is transferred to a party that is exempt from the
payment of the Assessment under applicable law, or if an owner causes a Parcel subject to
Assessments to become Non-Benefited Property, the owner of such Parcel shall pay to the City
the full amount of the Assessment on such Parcel, plus all Prepayment Costs, prior to any such
transfer or act.
2. The payments required above shall be treated the same as any Assessment that is due and
owing under the Act, the Assessment Ordinance, and this Service and Assessment Plan,
including the same lien priority, penalties, procedures, and foreclosure specified by the Act.
D. Reduction of Assessments
1. If after all Authorized Improvements have been completed, there are excess Bond
proceeds being available to redeem CO, then the Assessments and Annual Installments for each
Parcel shall be reduced by an equal percentage such that the sum of the resulting reduced
Assessments and Annual Installments for all Parcels equals the amount required to repay the CO
after such redemption, including interest on the CO and Annual Collection Costs, and such
excess Bond proceeds shall be applied to redeem CO. The Assessment for each Parcel shall be
20
Ordinance No.2100, Page 29 of 55
reduced by an equal percentage such that the sum of the resulting reduced Assessments is equal
to the outstanding principal amount of the CO.
2. If all the Authorized Improvements are not undertaken, resulting in excess Bond proceeds
being available to redeem CO, then the Assessments and Annual Installments for each Parcel
shall be appropriately reduced by the City Council to reflect only the amounts required to repay
the CO, including interest on the CO and Annual Collection Costs, and such excess Bond
proceeds shall be applied to redeem CO. The City Council may reduce the Assessments and the
Annual Installments for each Parcel (i) in an amount that represents the Authorized
Improvements provided for each Parcel or (ii) by an equal percentage, if determined by the City
Council to be the most fair and practical means of reducing the Assessments for each Parcel,
such that the sum of the resulting reduced Assessments equals the amount required to repay the
CO, including interest on the CO and Collection Costs. The Assessment for each Parcel shall be
reduced pro rata to the reduction in the Assessments for each Parcel such that the sum of the
resulting reduced Assessments is equal to the outstanding principal amount of the CO.
E. Payment of Assessments
1. Payment in Full
(a) The Assessment for any Parcel may be paid in full at any time. Such payment shall
include all Prepayment Costs. If prepayment in full will result in redemption of CO, the payment
amount shall be reduced by the amount, if any, of interest through the date of redemption of CO
and reserve funds, if any, applied to the redemption, net of any other costs applicable to the
redemption of CO.
(b) If an Annual Installment has been billed prior to payment in full of an Assessment, the
Annual Installment shall be due and payable and shall be credited against the payment-in-full
amount.
(c) Upon payment in full of the Assessment and all Prepayment Costs, the City shall deposit
the payment in accordance with the CFD or other applicable documents; whereupon, the
Assessment shall be reduced to zero, and the owner's obligation to pay the Assessment and
Annual Installments thereof shall automatically terminate.
(d) At the option of the owner, the Assessment on any Parcel plus Prepayment Costs may be
paid in part in an amount sufficient to allow for a convenient redemption of CO as determined by
the Administrator. Upon the payment of such amounts for a Parcel, the Assessment for the
Parcel shall be reduced, the Assessment Roll shall be updated to reflect such partial payment,
and the obligation to pay the Annual Installment for such Parcel shall be reduced to the extent
the partial payment is made.
2. Payment in Annual Installments
The PID Act provides that an Assessment for a Parcel may be paid in full at any time. If not paid
in full, the PID Act authorizes the City to collect interest and amounts to pay Annual Collection
Costs in Annual Installments. An Assessment for a Parcel that is not paid in full will be
collected in Annual Installments each year in the amounts shown in the Assessment Roll, as
21
Ordinance No.2100, Page 30 of 55
updated as provided for herein, which include interest and Annual Collection Costs. Payment of
the Annual Installments shall commence with tax bills mailed after the initial issuance of CO.
Each Assessment shall be paid with interest of no more than the lesser of(i) the actual interest
rate paid on the CO and(ii) 9% percent per annum. The Assessment Roll sets forth for each year
the Annual Installment for each Parcel based on the actual interest rate on the COs and additional
interest at the rate of 0.5% for the prepayment reserve and delinquency reserve as described in
Section V(G) and (H). Furthermore, the Annual Installments may not exceed the amounts shown
on the Assessment Roll. The Assessment Roll, updated with the actual interest rates on the CO,
is shown as Appendix E.
The Annual Installments shall be reduced to equal the actual costs of repaying the CO and actual
Annual Collection Costs (as provided for in the definition of such term), taking into
consideration any other available funds for these costs, such as interest income on account
balances.
F. Collection of Annual Installments
No less frequently than annually, the City Council, or the Administrator, on behalf of the City
Council, shall prepare and the City Council shall approve, an Annual Service Plan Update to
allow for the billing and collection of Annual Installments. Each Annual Service Plan Update
shall include an updated Assessment Roll and a calculation of the Annual Installment for each
Parcel. Annual Collection Costs shall be allocated among Parcels in proportion to the amount of
the Annual Installments for the Parcels. Each Annual Installment shall be reduced by any credits
applied under this Service and Assessment Plan, such as capitalized interest, interest earnings on
any account balances, and any other funds available for such purpose, including any existing
deposits for a prepayment reserve. Annual Installments shall be collected by the City in the
same manner and at the same time as ad valorem taxes and shall be subject to the same penalties,
procedures,and foreclosure sale in case of delinquencies as are provided for ad valorem taxes of
the City. The City Council may provide for other means of collecting the Annual Installments to
the extent permitted under the PID Act. The Assessments shall have lien priority as specified in
the PID Act.
Any sale of property for nonpayment of the Annual Installments shall be subject to the lien
established for the remaining unpaid Annual Installments against such property and such
property may again be sold at a judicial foreclosure sale if the purchaser thereof fails to make
timely payment of the non-delinquent Annual Installments against such property as they become
due and payable.
22
Ordinance No. 2100. Page 31 of 55
Section VII
THE ASSESSMENT ROLL
Appendix E identifies each Parcel within the PID, the Benefited Property, the Assessed Property
and Non-Benefited Property. The Assessment Roll includes each Parcel of Assessed Property,
the Assessment imposed on each Parcel and the Annual Installments to be paid each year for
each Parcel if the Assessment is not paid in full for any Parcel. The Assessment on each Parcel
is based on the number of units expected to be built on each Parcel, and the Assessment per unit
results,as explained herein.
Each Parcel of Assessed Property has been evaluated by the City Council (based on the
information provided by the Developer and other sources including information about the
developable area, proposed Owner Association Property and Public Property, best and highest
use of the property, and other development factors deemed relevant by the City Council) to
determine the proposed use of the Parcel. The proposed use is then multiplied by the Assessment
per Equivalent Unit forth in Table V-A of this Service and Assessment Plan, and the total of such
amounts shall constitute the "Assessment" for the Parcel as set forth on the Assessment Roll.
The Assessment Roll shall be updated upon the preparation of each Annual Service Plan Update
to reflect, for each Parcel, subdivisions, consolidations, prepayments, and reductions authorized
by this Service and Assessment Plan.
The Administrator shall prepare, and the City Council shall review and approve, annual updates
to the Assessment Roll as the Annual Service Plan Update to reflect the following matters,
together with any other changes helpful to the Administrator or the City and permitted by the
PID Act: (i) the identification of each Parcel as Benefited Property, Assessed Property, and Non-
Benefited Property; (ii) the Assessment for each Parcel, including any adjustments authorized by
this Service and Assessment Plan or in the Act; (iii) the Assessment for each Parcel, including
any adjustments authorized by this Service and Assessment Plan or in the PID Act; (iv) the
Annual Installment for the Parcel for the year (if the Assessment is payable in installments); and
(v) payments of the Assessment, if any, as provided by Section VI (C) of this Service and
Assessment Plan.
Ordinance No.2100, Page 32 of 55
23
Section VIII
MISCELLANEOUS PROVISIONS
A. Administrative Review
An owner of an Assessed Parcel claiming that a calculation error has been made in the
Assessment Roll, including the calculation of the Annual Installment, shall send a written notice
describing the error to the City not later than thirty (30) days after the date any amount which is
alleged to be incorrect is due prior to seeking any other remedy. The Administrator shall
promptly review the notice, and if necessary, meet with the Assessed Parcel owner, consider
written and oral evidence regarding the alleged error and decide whether, in fact, such a
calculation error occurred.
If the Administrator determines that a calculation error has been made and the Assessment Roll
should be modified or changed in favor of the Assessed Parcel owner, such change or
modification shall be presented to the City Manager, as needed, and subsequently to the City
Council for approval, to the extent permitted by the PID Act. A cash refund may not be made for
any amount previously paid by the Assessed Parcel owner (except for the final year during which
the Annual Installment shall be collected or if it is determined there are sufficient funds to meet
the expenses of the PID for the current year), but an adjustment may be made in the amount of
the Annual Installment to be paid in the following year. The decision of the Administrator
regarding a calculation error relating to the Assessment Roll may be appealed to the City
Council. Any amendments made to the Assessment Roll pursuant to calculation errors shall be
made pursuant to the PID Act.
The decision of the Administrator, or if such decision is appealed to the City Council, the
decision of the City Council, shall be conclusive as long as there is a reasonable basis for such
determination. This procedure shall be exclusive and its exhaustion by any property owner shall
be a condition precedent to any other appeal or legal action by such owner.
B. Termination of Assessments
Each Assessment shall be extinguished on the date the Assessment is paid in full, including
unpaid Annual Installments and Delinquent Collection Costs, if any. After the extinguishment of
an Assessment and the collection of any delinquent Annual Installments and Delinquent
Collection Costs, the City shall provide the owner of the affected Parcel a recordable "Notice of
Cancellation of the PID Assessment."
C. Amendments
The City Council reserves the right to the extent permitted by the PID Act to amend this Service
and Assessment Plan without notice under the PID Act and without notice to property owners of
Parcels: (i) to correct mistakes and clerical errors; (ii) to clarify ambiguities; and (iii) to provide
procedures for the collection and enforcement of Assessments, Prepayment Costs, Annual
Collection Costs, and other charges imposed by the Service and Assessment Plan.
24
Ordinance No.2100, Page 33 of 55
D. Administration and Interpretation of Provisions
The City Council or the Administrator on behalf of the City council, shall administer the PID,
this Service and Assessment Plan, and all Annual Service Plan Updates consistent with the PID
Act, and shall make all interpretations and determinations related to the application of this
Service and Assessment Plan unless stated otherwise herein or in the CFD, such determination
shall be conclusive.
E. Severability
If any provision, section, subsection, sentence, clause or phrase of this Service and Assessment
Plan or the application of same to an Assessed Parcel or any person or set of circumstances is for
any reason held to be unconstitutional, void or invalid, the validity of the remaining portions of
this Service and Assessment Plan or the application to other persons or sets of circumstances
shall not be affected thereby, it being the intent of the City Council in adopting this Service and
Assessment Plan that no part hereof or provision or regulation contained herein shall become
inoperative or fail by reason of any unconstitutionality, voidness or invalidity of any other part
hereof, and all provisions of this Service and Assessment Plan are declared to be severable for
that purpose.
If any provision of this Service and Assessment Plan is determined by a court to be
unenforceable, the unenforceable provision shall be deleted from this Service and Assessment
Plan and the unenforceable provision shall, to the extent possible, be rewritten to be enforceable
and to give effect to the intent of the City.
25
Ordinance No. 2100, Page 34 of 55
Appendix A
The PID MAP
Ordinance No.2100, Page 35 of 55
Lxhiloi L A
H W Y 1 8 3 T /1 eD _L .' v Q p
I i
1
,,,,;,- . 2/, /
4
.c
erw un�woa r
txs :t�t�i �
.., ,
w \
'
,c,...,- ..,;‘,. ,.,
1fa11rT,1iC.,VILLA DRIVE
Al://11117
cern 1 tutwtia�'ue
i // 11Ir
N/f,.., .,,/ ..0 7
, .,
,,
>, ‘ ...;,...„,,,.,.......
POOCH 7E1AS LADD,ETD.
g \ ;
- - a atYaiuwn mo}to
JCO
Q /2' / sot wsotrr roma
/
41111
Ordina ce No.2100, Pag;36 of 55
Appendix B
ESTIMATED COSTS OF AUTHORIZED IMPROVEMENTS
Ordinance No.2100. Page 37 of 55
Euless Midtown PID
City of Euless, TX
Estimated Authorized Improvement Costs
Estimated
Description of Improvements Cost
Paving $2,500,255
Demolition and remediation $2,700,000
Subtotal: Roadway improvements $5,200,255
Water distribution system improvements $1,787,071
Sanitary sewer collection system improvements $1,540,751
Storm sewer collection system improvements $1,522,678
Right-of-Way/land acquisition: $2,100,000
Subtotal: Storm sewer collection system improvements $3,622,678
Hardscaping and amenities $2,111,201
Bonding& Mobilization $431,900
Civil Eng. Design, Surveying, Staking & CA services $1,145,559
Construction Contingency $578,565
Subtotal: Other soft costs $2,156,024
Subtotal: Estimated Authorized Improvement Costs $16,417,980
Add: Net costs for issuing CO $32,020
Total Estimated Costs $16,450,000
III I.UJw JIIUWII auuvc aic UJI JL cSLIIIIalW piUV ZULU U',pLUJLU UUU'IIR[U cIIU way Uc Icy kw LLS IICGUCu.
Ordinance No.2100, Page 38 of 55
Appendix C
DIAGRAM OF THE AUTHORIZED IMPROVEMENTS
Ordinance No.2100, Page 39 of 55
.0001'
AT
b.P
/4
e _ -
1
.,,
EISLA-
4 t.,
'' •
•
- 4-., 1-
_ '''' Itaaildieling=
• -tt. ,,. -
•••• r-- 0*
.n ..., >..
_1- k., .M. fi. f.•..“1-ST'-,-IA--
. .
.
'5,..,.2' ... .-1,.e, cc'sj (i) I•••• lb
. INIli
._, 0 Li i ----'- --*.-------- ----- SH 1 8 3
. „-„,77.,-..,.::--.---: • i.,_ , __..,.
.. .— .... .r. —
co ..
i0...
,:•
. . ....
,4-..„...- ..e.ir'.-1.. .-1.7.7 .. .t2- ,-..: '., -• -•:!1# --....
,.. _
„...._ ,
. ' -”' a' ' '''a" ''' 'I tr‘ 1-7 I i.t'ti i 17'.- ri-i .. r ' '.,-''','7•;,; ;
' •1 t P. •.
aratik .
. , ei ,... .. ,..,.7.1 '..."........---,.. ...
..-
!'' fr.iii 7----.',
i t ---""' i
Fu.. ilitrouto .. . . .
. . .............„, PI ':°-' , .74‘• * 'e•:•: ..
i.--...... - • . : K ---, --, - .------- _
.,.
) 41,
mimilaj
1111 I ...
. :-
/ lt''' '
' IP ,
. ---- iv • . ,,..*, 1 -_,-, -Nide'
,_.... .s. .,
40 .-
9.11..11Th -;45. 401. 111111 1,1 T ,.,.
,:kr r 111111111
Pe: t') fik. V7 44", 7V
I 44 t4r.
140" f-- r • ,-* ., ' i
•*. ..00011.4\4'
1,s, `°•'.- :
,
,...., I ....-- .,... v.-
lit t.,1 ° 1111111 _,
Aft
• — • ..,, -;
ri
,, . • .,.**\': 110
. . ,
_1 , 111110 ,
• A,
L -....
•
.. t REPLACEMENTI OPTION
. i
.. . 4 • REMOVES ASSISTED LIVING FACILITY . II 1) • '
' r gli. ' -: • ADDITIONAL 44 LOTS _
. 1 TOWNHOMES (25'x90') - 23 LOTS
,liole P ,.
. [11 ROW HOUSES (24'x54') - 21 LOTS
I. r t
i-4 ,97 41'
'
7 Wt. •- --.'r-
. .. 1 ,.. „..
.,EXS
'it ari
• t ' r r -H
--- , .
AS S I S;TE ID'11-1V1 NIG -
. ,
' ' -4
45,00Q S /LEVEL
•
i* . 1 J'. 11 i 1 ilk..i).•:‘t ' *.V'a.± ±:21..8 AC. - -: . ''' : '' , ', . , . ,
: .1.
i'N'Y'. 1 ' , '''''''' , - , . . ' ' ' • . .- -, eir
f ..'•1 f. /Apo
-I
• --•.,. .
.
' '' ' 111 "Ir-c-lif
i .....,,,,-- ..„ _.titit..„.:
1 k •
. .., ._. ft . i. ,
, .
. t; '
• i _ .., 0 , - , , .
-
> 1 M NJ itl
I 1 ' VILLA DR. ::: .6 7 II(
I .. , --4.,-,__ 'II• ,.,,, -A V ,,,i:i•-:,
i ,-- .111141.
li kW'. F *t M ''' •
.. .v . \ ._ •.* Ifin _i ‘14,4 .C.. .,,a4''
*If miff
I sat f Alkt ' -J • 1
_ P 7 ,
__ _
. ..• .„-,,,..„... .._• .:,- ,,
I . ' '•1. Ce ' ,Al V '•> 4 O.,,';'''
LAKE CM?. „II
(YARN/l4'ION RIONT-Of-11AV)
— �nn 4 no i l_ -�
ea iti aa► _
M _ 1_ /
_l NM' I/
es s I_ o
_I !I ill r� /
1_I _I 1_1 �W /
_I 1_1 u
1 r �j _E I_
IkiUli
--- - .1 �.
ti 41111111
if i
� 1_l I_I 1 \i�1 1_•
um
3
LIM
,immulawsok
ii
/
- mm ;= _� ; I ,
11_ _i ., Ms
lb
1 inch = 400 >t. I iIP*
= /Imo
.��.• a m� /
C% .,... = 111101 4 /
1 •
/"rte--- 1 I �� ` �`/�';. -�
11111-1' i� , ,�Vv\/�' 1•R i
! �!�!, '..5-
..-----'--,...."-1
��� ,,♦ %\ Ill �1 1 *
E. V4Ly�R_ae'---- - --. 41___j i • t
,,,�'� Illi 1�` j i
�I � , l�Rr=1� i i
�� l�li 1�1 1•li
filly i ��� 1�1, 1>•� Ali
„
,, i �J r 1�1iii ��h
'i �' �_ 111
.,; Itl� 1
Ili JR��l.-
a3 AQ= r I it mIIIIII VIII nI .
tY i \\\ IV IR��IRaYrs.r>L 4
z , t
1111 lillitir
_ _ J\"��� �,
Jo
54 j
moo.
a►�
I!;
, \
/' " EXH3iTA
s PID COST ESTIMATE
J 1
co 1
FOR PAVEMENT IMPROVEMENTS
MID - TOWN
c. q /
F� 7
0 / TOWN OF EULESS, TARRANT COUNTY, TEXAS
VSs e��o•
DECEMBER 2015
BROYIN
Brown & Gay Engineers, Inc.
2595 Dallas Pkwy., Suite 204, Frisco, TX 75034 GAIT
Tel: 972-464-4800 Fax: 972-464-4899
i Civil engineers and surveyors
I Ordinance No.2100,''Page 41 of 55 \ JOB No. 00003082-00
0:\Projects\UND - SITE - FRISCO\Blockord Globol\Euless\03_CADD\02_Exhibits\PID 5AP\Euless-PID-COST-EST.dwg
HWY 183
(YARIARIL WIDTH RIONT-Or-\AY)
_.------ --_._ i _
I No: rill . .._, __ Ililliumr,
..r emu
mar, NI u
j Ism , N
— --—
r s I�1 ill o
M �1 It W /
_-----_--.__ --�5 4 111 • BM It _ z
V 1M1 —Y P
NMI
�1 �N N /
MI 1�1 MN II w
1j i 1 M1 a --��
.... YR
tom • mill V
r""'t1 •MI NMI N
_y
i
71111MI
:1343
(t: 11111111111 1 ——-
�- — , 1= ` '� 111/� %:111111! um
ma
r� ISM ' l MN 111Pur /
-1 AP
— I 1 inch = 400 ft. ' % mu /
NMI/(7. sfr'(i S 'i 1=1111
MI N Ili 00 =, lin; 4 /
_....._41:1;1 .0" 1
1 _ —r- , I os Milt •, 4
i .,- ....i 1
— _ ,♦ •ill, „ • INN •1
° ' 111111 111111 11•111
Ri-
i1!j I .,
MN % :
NU 1111111 11•11
1E11 •1 i•t •t
�.. NM 111111 I1111',t
o NM [ whin,
o Q 1 ` , -
iI _� iil �n�PO i ��_ I
z: V
0 1
z 1
w
nom s • ' \ 1111111111111111 llorillillir ' 2_____ T— ,177\
��
[ IMIIM.
c r. c, ,
.,,\,„
...
,71 , ,c•s
....,
..,
,,, „
, , �\ EXHIBIT A
;
_ ` I
oPID COST ESTIMATE
CO
e ./ FOR WATER IMPROVEMENTS
Ny
so A, i
MID - TOWN
7 TOWN OF EULESS, TARRANT COUNTY, TEXAS
zv p DECEMBER 2015
litE58 Brown & Gay Engineers, Inc.
i
BENIN 2595 Dallas Pkwy., Suite 204, Frisco, TX 75034
) ,„,-'- 7 & GAyTel: 972-464-4800 Fax: 972-464-4899
I' f'
Civil engineers and surveyors
Ordinance No.2100,Page 42 of 55 JOB No. 00003082-00
O:\Projects\LAND - SITE - FRISCO\Blockord Clobol\Euless\03_CADD\02_Exhibls\PID SAP\Euless-PID-COST-EST.dwg
HWY 183
(VARIAOt.WIDTH RIOMT-OV-OAV)
...\ C-- ---- :. l
jl 1 I 1
s . . Ise Niit/
I� it y� I-`It
MNI N �N
1 It\
1� umSN
is IIS �U o
1 MN1 1 0� X11
\ I III. 11 - Io
_.._.._.. II_ MN IL
o
1 _ 1
N= 14.1110. _ �N - 1
I .,,L .
,.... I N� On;
_..,) 1
..� 0 hce
IU . SN
1� �11
Viir
■n,N� �NI( _ 'lL �0J I` /E0 2
,_
a , ,
1 �;
fl
i 1 ` I 111
EEo NMI
I S111, .1111.•.111
1
1 inch = 400 ft. I IIMcIMinIEITItw1 Prior
/
_ II
, .. i: ...
.. mar
C , EE
_ I \`` mar * /
�I�' E ' saw
\SS* j
sm 11111111 i mini
00
.... lk 9 N>0 Mil 1 ,A.
•
►�U r!I
�.- - I�1 ' I- I
1=111 — 1� INN I■
1111■ I
• I
./ tom MI
J ../Zip,/,..a. 777
Q Hi._i_i_w,
--- -,--..;', r lemoir,
LL______,___ ___
__ 1
o i1 �
Z \II /
o. ----
CO e \ 2 •
•
IOW •
lam„ Sp.IP
l _ �A� a
`•rpt
2 I'
R
EXHIBIT A
PID COST ESTIMATE
ean
- . FOR SANITARY SEWER IMPROVEMENTS
MID - TOWN
i ,_s 7\,,,,...
cnt
/ TOWN OF EULESS, TARRANT COUNTY, TEXAS
\-VSs e\-\1° ' B R OW 11 DECEMBER 2016
�� Brown & Gay Engineers, Inc.
2595 Dallas Pkwy., Suite 204, Frisco, TX 75034
& GM Tel: 972-464-4800 Fax: 972-4641899
/ Civil engineers and surveyors
L 1 , e•
Ordinance No.2100, Page 43 of 55 JOB No. 00003082-00
0:\Projects\LAND - SITE — FRISCO\Blockord Global\Euless\03_CADD\02_E,hjbMs\PID SAP\Euless—PID—COST—EST.dwg
HWY 183
(YARHNLI WIDTH RIOHT-Of-WAY)
—`-
I i f
IMP Ell II
Millt, /I u
NM
!MI NM II
NM
N ceo
NPR hi I°
MB
mm
i.. °, . JJt.
IEau N /
ire V �n �u
l �t —r I NM II
juuni )
uln e, ,�f fin e°3
11111111 ` IMI II
"I 3�
'1!'!'
- - 11 % SI I`,, 0. 1 , �:�� ':� r'omit- I, / /inch = 400 ft. I ��• a MOM /y .&°. -R main Of*
112 '
— !, 111•111 II 4
I 11 1,ir _�- ,,s 1 0 2:I Irl'�I'
. ..
LLQ y \. ,,,, . _____----- , ,i -- m lan, ��i 1,
v� ' _- ,, 1�1 Ia.1
....
11111 I— .s,1 OM 1 I.1'I' 1..1 I=1
` �� I=1 IME IMO
IN ISI IEN --
:-.1
-
1 11 II•I NMI,
_ ��� ; ,11111 _
o
t— __
.. MOIM�a.0
e � � �sl i ! 111111
g � I
- '1 j _ -- 0.
O i. , \..7" V '
Z
rn \ ) •
K. • ' �yp��ra�
9� ao
1\IP
r
n I
r
x'
\ / EXHBITA
CO
\ PID COST ESTIMATE
a= a� FOR STORM SEWER IMPROVEMENTS
9 ' MID - TOWN
�; so , A
i
o TOWN OF EULE33, TARRANT COUNTY, TEXAS
���Ss
'3\-\j°
BROYiN DECEMBER 2016
Brown & Gay Engineers, Inc.
2595 Dallas Pkwy., Suite 204, Frisco,TX 75034
y y 7 '& GAyTel:972-464-4800 Fax: 972-464-4899
Civil engineers and surveyors
Ordinance No.2100,-Pane 44 of 55 JOB No. 00003082-00
Q:\Projects\LAND - SITE - FRISCO\Blockord Globol\Euless\03_CADD\02_E,,hibns\PID SAP\Euless-PID-COST-EST.dwg
Appendix D
LAND USE CLASS AND EQUIVALENT UNITS
For purposes of allocating the Assessments, the Assessed Property has been, or is
anticipated to be, classified in one of five Land Use Classes. The following table shows the
proposed residential and non-residential Land Use Class within the PID.
Table D-1
Proposed Development within the PID
Lot Type Description Proposed Development
Residential I
Land Use Class 1 Single-Family 66 units
Land Use Class 2 Townhomes 75 units
Land Use Class 3 Row Houses 114 units
Land Use Class 4 Multi-Family 393 units
Non-Residential
Land Use Class 5 Retail 67,100 Square Feet
The Land Use Classes shown in the Table are defined as follows:
"Land Use Class 1" means lots identified as such on the Assessment Roll, which are
referred to as single-family in the Euless Midtown zoning ordinance as "Villas" (the "PD")
and being generally lots for a detached single family dwelling unit on individually platted
lots.
"Land Use Class 2" means lots identified as such on the Assessment Roll, which are
referred to as "Townhomes" in the PD and being generally lots for an attached single
family dwelling unit on individually platted lots.
"Land Use Class 3" means lots identified as such on the Assessment Roll, which are
referred to as "Row Houses" in the PD and being generally lots for a detached single family
dwelling unit on individually platted lots.
"Land Use Class 4" means lots identified as such on the Assessment Roll, which are
referred to as multi-family units in the PD and being generally dwelling units or suite of
rooms on one or more floors of a multi-family building.
"Land Use Class 5" means lots identified as such on the Assessment Roll, which are
referred to as retail in the PD, and being generally parcels used for retail purposes that may
be comprised of a single tenant or multiple tenants that make up a retail establishment and
are generally located on the ground floor of buildings or in a single building.
Ordinance No.2100, Page 45 of 55
As explained under Section V-D, for purpose of this Service and Assessment Plan, the City
Council has determined that the Costs of the Authorized Improvements to be financed with
the CO shall be allocated to the Parcels based on the estimated value at build-out.
For purposes of this Service and Assessment Plan, the City Council has determined that the
PID Costs shall be allocated to the Assessed Property spreading the entire Assessment
across the Parcels of Assessed Property based on the estimated Equivalent Units as
calculated and shown in Appendix D using the proposed development types and quantity
anticipated to be developed on each Parcel and average estimated values at build-out.
Allocation of Assessments by value is specifically authorized by statute. This approach is
particularly appropriate in this case, as the purpose of the improvements to be provided by
the PID is to allow for the development of the property to make the property more valuable.
Accordingly, allocating the Assessments in accordance with value will result in a
reasonable determination that equal shares of the PID Costs have been allocated to Parcels
similarly benefited.
Upon subsequent divisions of any Parcel, the Assessment applicable to it will then be
apportioned pro rata based on the Equivalent Units of each newly created Parcel.
Having taken into consideration the matters described above, the City Council has
determined that allocating the Assessments among Parcels based on estimated average
value is best accomplished by creating classifications of benefited Parcels based on the
"Land Use Class" defined above. These classifications representing the estimated average
value per unit relative to Land Use Class 1 (Residential — Single-Family) representing the
highest estimated average value per unit are set forth in Table D-2 below. Assessments are
allocated to each Lot Type on the basis of the estimated average value for each Land Use
Class. This is accomplished by giving each Land Use Class an Equivalent Unit factor.
Equivalent Units are the ratio of the estimated average value at build-out within each Land
Use Class, setting the Equivalent Unit factor for Land Use Class 1 (Residential — Single-
Family) to 1.0. The Equivalent Unit factor for Land Use Class 2 is calculated to be 0.79
($285,000 _ $360,000 = 0.79). The Equivalent Unit factor for each of the remaining Land
Use Classes is calculated accordingly and shown in Table D-2.
Table D-2
Equivalent Unit Factors
Estimated
Average Unit Equivalent Unit
Lot Type Value Factor
Land Use Class 1 (Residential - Single Family) $360,000 1.00 per dwelling unit
Land Use Class 2 (Residential—Townhomes) $285,000 0.79 per dwelling unit
Land Use Class 3 (Residential—Row houses) $235,000 0.65 per dwelling unit
Land Use Class 4 (Residential—Multi-Family) $90,000 0.25 per dwelling unit
Land Use Class 5 (Retail) $275,000 0.76 per 1,000 Sq. Ft
Ordinance No.2100, Page 46 of 55
The total estimated Equivalent Units are shown in Table D-3 below as calculated based
on the Equivalent Unit factors shown above and the number of units proposed to be built
within the PID.
Table D-3
Total Estimated Equivalent Units and
Assessment per Equivalent Units
Total
Planned Equivalent Equivalent
Land Use Class No. of units Unit Factor Units
Land Use Class 1 (Residential - Single Family) 66 1.00 66.00
Land Use Class 2 (Residential—Townhomes) 75 0.79 59.25
Land Use Class 3 (Residential—Row houses) 114 0.65 74.10
Land Use Class 4 (Residential—Multi-Family) 393 0.25 98.25
Land Use Class 5 (Retail)—in 1,000 Sq. Ft 67.10 0.76 51.00
Total 348.60
Total Assessment(Total CO issued) $16,450,000
Assessment per Equivalent Units $47,189
Ordinance No.2100, Page 47 of 55
Appendix E
ASSESSMENT ROLL
Ordinance No.2100, Page 48 of 55
Appendix E
Assessment Roll
All Parcels
Total Assessment $16,450,000
Total Equivalent Units 348.60
Cumulative Amount Principal and Annual Collection Total Annual
Year of Assessments Interest' Costs2 Installment
2016 $16,450,000 $267,941 $82,979 $350,920
2017 $16,450,000 $489,638 $117,950 $607,588
2018 $16,450,000 $869,638 $118,664 $988,302
2019 $16,070,000 $997,038 $117,492 $1,114,530
2020 $15,555,000 $996,588 $115,660 $1,112,248
2021 $15,025,000 $995,988 $113,768 $1,109,755
2022 $14,485,000 $995,188 $111,841 $1,107,028
2023 $13,935,000 $998,688 $109,879 $1,108,566
2024 $13,365,000 $995,888 $107,833 $1,103,721
2025 $12,775,000 $997,613 $105,703 $1,103,316
2026 $12,170,000 $994,463 $103,515 $1,097,977
2027 $11,550,000 $995,863 $101,268 $1,097,131
2028 $10,910,000 $996,663 $98,938 $1,095,601
2029 $10,250,000 $996,863 $96,526 $1,093,389
2030 $9,570,000 $996,463 $94,032 $1,090,494
2031 $8,870,000 $995,463 $91,455 $1,086,918
2032 $8,150,000 $998,863 $88,797 $1,087,660
2033 $7,405,000 $996,513 $86,033 $1,082,546
2034 $6,640,000 $998,563 $83,189 $1,081,751
2035 $5,850,000 $994,863 $80,238 $1,075,101
2036 $5,040,000 $995,563 $77,208 $1,072,771
2037 $4,205,000 $999,469 $74,073 $1,073,542
2038 $3,340,000 $997,438 $70,809 $1,068,247
2039 $2,450,000 $999,625 $67,441 $1,067,066
2040 $1,530,000 $999,725 $63,945 $1,063,670
2041 $580,000 $589,425 $60,321 $649,746
Total $24,150,022 $2,439,561 $26,589,583
1 -The principal and interest amounts are estimated based on the fmal CO numbers.
2-The Annual Collection Costs shown include the estimated district administration and assessment collection costs and the additional
0.5%interest to be collected for prepayment reserve and delinquency reserves.The actual Administrative Expense amounts will be
updated each year in the Annual Service Plan Update.
Ordinance No.2100, Page 49 of 55
Appendix E
Assessment Roll by Land Use Class
Land Use Class Residential - Single-Family 1
Assessment per Unit $47,189
Equivalent units 1.00
Cumulative
Amount of Principal and Annual Total Annual
Year Assessments Interest' Collection Costs2 Installment
2016 $47,189 $769 $238 $1,007
2017 $47,189 $1,405 $338 $1,743
2018 $47,189 $2,495 $340 $2,835
2019 $46,099 $2,860 $337 $3,197
2020 $44,622 $2,859 $332 $3,191
2021 $43,101 $2,857 $326 $3,183
2022 $41,552 $2,855 $321 $3,176
2023 $39,975 $2,865 $315 $3,180
2024 $38,340 $2,857 $309 $3,166
2025 $36,647 $2,862 $303 $3,165
2026 $34,911 $2,853 $297 $3,150
2027 $33,133 $2,857 $291 $3,147
2028 $31,297 $2,859 $284 $3,143
2029 $29,404 $2,860 $277 $3,137
2030 $27,453 $2,859 $270 $3,128
2031 $25,445 $2,856 $262 $3,118
2032 $23,379 $2,865 $255 $3,120
2033 $21,242 $2,859 $247 $3,105
2034 $19,048 $2,865 $239 $3,103
2035 $16,782 $2,854 $230 $3,084
2036 $14,458 $2,856 $221 $3,077
2037 $12,063 $2,867 $212 $3,080
2038 $9,581 $2,861 $203 $3,064
2039 $7,028 $2,868 $193 $3,061
2040 $4,389 $2,868 $183 $3,051
2041 $1,664 $1,691 $173 $1,864
$69,278 $6,998 $76,276
1-The principal and interest amounts are estimated based on the final CO numbers.
2-The Annual Collection Costs shown include the estimated district administration and assessment collection costs and the
additional 0.5%interest to be collected for prepayment reserve and delinquency reserves.
The actual Administrative Expense amounts will be updated each year in the Annual Service Plan Update.
Ordinance No.2100, Page 50 of 55
Appendix E
Assessment Roll by Land Use Class
Land Use Class Residential - Townhomes 2
Assessment per Unit $37,280
Equivalent units 0.79
Cumulative
Amount of Principal and Annual Total Annual
Year Assessments Interest' Collection Costs2 Installment
2016 $37,280 $607 $188 $795
2017 $37,280 $1,110 $267 $1,377
2018 $37,280 $1,971 $269 $2,240
2019 $36,418 $2,260 $266 $2,526
2020 $35,251 $2,259 $262 $2,521
2021 $34,050 $2,257 $258 $2,515
2022 $32,826 $2,255 $253 $2,509
2023 $31,580 $2,263 $249 $2,512
2024 $30,288 $2,257 $244 $2,501
2025 $28,951 $2,261 $240 $2,500
2026 $27,580 $2,254 $235 $2,488
2027 $26,175 $2,257 $229 $2,486
2028 $24,725 $2,259 $224 $2,483
2029 $23,229 $2,259 $219 $2,478
2030 $21,688 $2,258 $213 $2,471
2031 $20,101 $2,256 $207 $2,463
2032 $18,470 $2,264 $201 $2,465
2033 $16,781 $2,258 $195 $2,453
2034 $15,048 $2,263 $189 $2,452
2035 $13,257 $2,255 $182 $2,436
2036 $11,422 $2,256 $175 $2,431
2037 $9,530 $2,265 $168 $2,433
2038 $7,569 $2,260 $160 $2,421
2039 $5,552 $2,265 $153 $2,418
2040 $3,467 $2,266 $145 $2,411
2041 $1,314 $1,336 $137 $1,472
$54,730 $5,529 $60,258 _
1 -The principal and interest amounts are estimated based on the final CO numbers.
2-The Annual Collection Costs shown include the estimated district administration and assessment collection
costs and the additional 0.5%interest to be collected for prepayment reserve and delinquency reserves.
The actual Administrative Expense amounts will be updated each year in the Annual Service Plan Update.
Ordinance No.2100, Page 51 of 55
Appendix E
Assessment Roll by Land Use Class
Land Use Class Residential -Row Houses 3
Assessment per Unit $30,673
Equivalent units 0.65
Cumulative
Amount of Principal and Annual Total Annual
Year Assessments Interest' Collection Costs2 Installment
2016 $30,673 $500 $155 $654
2017 $30,673 $913 $220 $1,133
2018 $30,673 $1,622 $221 $1,843
2019 $29,964 $1,859 $219 $2,078
2020 $29,004 $1,858 $216 $2,074
2021 $28,016 $1,857 $212 $2,069
2022 $27,009 $1,856 $209 $2,064
2023 $25,984 $1,862 $205 $2,067
2024 $24,921 $1,857 $201 $2,058
2025 $23,821 $1,860 $197 $2,057
2026 $22,692 $1,854 $193 $2,047
2027 $21,536 $1,857 $189 $2,046
2028 $20,343 $1,858 $184 $2,043
2029 $19,112 $1,859 $180 $2,039
2030 $17,844 $1,858 $175 $2,033
2031 $16,539 $1,856 $171 $2,027
2032 $15,197 $1,863 $166 $2,028
2033 $13,808 $1,858 $160 $2,019
2034 $12,381 $1,862 $155 $2,017
2035 $10,908 $1,855 $150 $2,005
2036 $9,398 $1,856 $144 $2,000
2037 $7,841 $1,864 $138 $2,002
2038 $6,228 $1,860 $132 $1,992
2039 $4,568 $1,864 $126 $1,990
2040 $2,853 $1,864 $119 $1,983
2041 $1,038 $1,099 $112 $1,212
$45,031 $4,549 $49 580
1 -The principal and interest amounts are estimated based on the final CO numbers.
2-The Annual Collection Costs shown include the estimated district administration and assessment collection
costs and the additional 0.5%interest to be collected for prepayment reserve and delinquency reserves.
The actual Administrative Expense amounts will be updated each year in the Annual Service Plan Update.
Ordinance No.2100, Page 52 of 55
Appendix E
Assessment Roll by Land Use Class
Land Use Class Residential - Multi-Family 4
Assessment per Unit $11,797
Equivalent units 0.25
Cumulative
Amount of Principal and Annual Total Annual
Year Assessments Interest' Collection Costs2 Installment
2016 $11,797 $192 $60 $252
2017 $11,797 $351 $85 $436
2018 $11,797 $624 $85 $709
2019 $11,525 $715 $84 $799
2020 $11,155 $715 $83 $798
2021 $10,775 $714 $82 $796
2022 $10,388 $714 $80 $794
2023 $9,994 $716 $79 $795
2024 $9,585 $714 $77 $792
2025 $9,162 $715 $76 $791
2026 $8,728 $713 $74 $787
2027 $8,283 $714 $73 $787
2028 $7,824 $715 $71 $786
2029 $7,351 $715 $69 $784
2030 $6,863 $715 $67 $782
2031 $6,361 $714 $66 $779
2032 $5,845 $716 $64 $780
2033 $5,311 $715 $62 $776
2034 $4,762 $716 $60 $776
2035 $4,195 $713 $58 $771
2036 $3,614 $714 $55 $769
2037 $3,016 $717 $53 $770
2038 $2,395 $715 $51 $766
2039 $1,757 $717 $48 $765
2040 $1,097 $717 $46 $763
2041 $820 $423 $43 $466
$17,319 $1 750 $19 069
1 -The principal and interest amounts are estimated based on the final CO numbers.
2-The Annual Collection Costs shown include the estimated district administration and assessment collection
costs and the additional 0.5%interest to be collected for prepayment reserve and delinquency reserves.
The actual Administrative Expense amounts will be updated each year in the Annual Service Plan Update.
Ordinance No.2100. Page 53 of 55
Appendix E
Assessment Roll by Land Use Class
Land Use Class Retail 5
Assessment per 1,000 S.F. $35,864
Equivalent units 0.76
Cumulative
Amount of Principal and Annual Total Annual
Year Assessments Interest' Collection Costs2 Installment
2016 $35,864 $584 $181 $765
2017 $35,864 $1,067 $257 $1,325
2018 $35,864 $1,896 $259 $2,155
2019 $35,035 $2,174 $256 $2,430
2020 $33,913 $2,173 $252 $2,425
2021 $32,757 $2,171 $248 $2,419
2022 $31,580 $2,170 $244 $2,414
2023 $30,381 $2,177 $240 $2,417
2024 $29,138 $2,171 $235 $2,406
2025 $27,852 $2,175 $230 $2,405
2026 $26,533 $2,168 $226 $2,394
2027 $25,181 $2,171 $221 $2,392
2028 $23,786 $2,173 $216 $2,389
2029 $22,347 $2,173 $210 $2,384
2030 $20,864 $2,172 $205 $2,377
2031 $19,338 $2,170 $199 $2,370
2032 $17,768 $2,178 $194 $2,371
2033 $16,144 $2,173 $188 $2,360
2034 $14,476 $2,177 $181 $2,358
2035 $12,754 $2,169 $175 $2,344
2036 $10,988 $2,170 $168 $2,339
2037 $9,168 $2,179 $161 $2,341
2038 07,282 $2,175 $154 $2,329
2039 $5,341 $2,179 $147 $2,326
2040 $3,336 $2,180 $139 $2,319
2041 $648 $1,285 $132 $1,417
$52,651 $5,319 $57,970
1 -The principal and interest amounts are estimated based on the final CO numbers.
2-The Annual Collection Costs shown include the estimated district administration and assessment collection
costs and the additional 0.5%interest to be collected for prepayment reserve and delinquency reserves.
The actual Administrative Expense amounts will be updated each year in the Annual Service Plan Update.
Ordinance No.2100, Page 54 of 55
Assessment Roll Summary
2016
Total Annual Installments -2016
Estimated Annual
Equivalent Total Principal and Collection Total Annual
Account No.' Units' Assessment Interest Costs Installment
03927210 8.45 $398,750 $6,495 $2,011 $8,506
04670248 4.55 $214,711 $3,497 $1,083 $4,580
03927229 22.58 $1,065,534 $17,356 $5,375 $22,731
03927059 39.50 $1,863,977 $30,361 $9,403 $39,763
03274594 I 8.69 $410,075 $6,679 $2,069 $8,748
03927237 12.32 $581,372 $9,469 $2,933 $12,402
03926907 30.15 $1,422,757 $23,174 $7,177 $30,351
03274608 30.55 $1,441,785 $23,484 $7,273 $30,757
03926966 22.00 $1,038,165 $16,910 $5,237 $22,147
03926974 12.32 $581,372 $9,469 $2,933 $12,402
03926982 7.90 $372,795 $6,072 $1,881 $7,953
00669814 47.38 $2,235,960 $36,420 $11,279 $47,699
03926931 3.95 $186,398 $3,036 $940 $3,976
05990343 0.00 $0 $0 $0 $0
03927296 49.00 $2,312,276 $37,663 $11,664 $49,327
03927342 49.25 $2,324,073 $37,855 $11,723 $49,578
00936863 0.00 $0 $0 $0 $0
Total 348.60 $16,450,000 $267,941 $82,979 $350,920
1 The account numbers are provided by the Developer and also shown in the TIRZ No.4 Project and Financing Plan.The total estimated
Equivalent Units are calculated based on estimated development plan for each Parcel as provided by the Developer.
Ordinance No.2100, Page 55 of 55