HomeMy WebLinkAbout1163 12-09-1997 TIF Zone 1 Project and Financing PlanREINVESTMENT ZONE NUMBER ONE, CITY OF EULESS,
TAX INCREMENT FINANCING PROJECT AND FINANCING PLANS
WHEREAS, in accordance with the provisions of the Tax Increment Financing Act.
V.T.C.A. • Tax Code, Chapter 311, (the "Act") particularly § 311.011, the Reinvestment Zone
Board of Directors have prepared and adopted the Project Plan and Financing Plan for the
Reinvestment Zone;
WHEREAS, the Project Plan and Financing Plan are to be submitted to the City of
Euless, Texas, the governing body that created the Reinvestment Zone in accordance with the
Act;
WHEREAS, the Project Plan and the Financing Plan are as consistent as possible with
the preliminary project and financing plans developed for the Reinvestment Zone before creation
of the Reinvestment Board of Directors; and
WHEREAS, the Board of Directors hereby adopt the following Project Plan and
Financing Plan in accordance with the Act for development of the Reinvestment Zone Number
One, City of Euless, Texas and funded by the Tax Increment Financing ("TIF"):
NOW, THEREFORE, BE IT RESOLVED BY THE REINVESTMENT ZONE BOARD
OF DIRECTORS OF REINVESTMENT ZONE NUMBER ONE, CITY OF EULESS, TEXAS:
That the facts and recitations contained in the preamble are hereby found and declared
to be true and correct and are hereby incorporated by reference for all purposes as if same had
been restated in this section.
PROJECT PLAN
1. Existing Uses and Conditions of Real Property
The Reinvestment Zone site consists of vacant land of approximately 98 acres at the
northeast corner of State Routes 360 and 183 in the City of Euless. The land is relatively flat
with access from existing surface roads. Limited utilities are available at the site, but will be
provided as part of the program funded by the TIF. The map of the TIF Reinvestment Zone
boundaries is provided as Attachment "Az and incorporated herein by reference. The map
showing existing uses and conditions of the real property in the zone is provided as Attachment
"B," and incorporated herein by reference.
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