HomeMy WebLinkAbout2002-2550 - Ordinance - 03/14/2002ORDINANCE NO. 2550
AN ORDINANCE DESIGNATING THE HIGHWAY 30/60 CORRIDOR IN COLLEGE STATION,
TEXAS, AS REINVESTMENT ZONE NO. 15, CITY OF COLLEGE STATION, TEXAS,
ENUMERATING THE QUALIFYING CRITERIA, ADOPTING A PRELIMINARY
DEVELOPMENT AND FINANCING PLAN, ESTABLISHING A BOARD OF DIRECTORS FOR
SUCH ZONE, AND OTHER MATTERS RELATING THERETO; PROVIDING FOR A
SEVERABILITY CLAUSE AND AN OPEN MEETINGS CLAUSE.
WHEREAS, on November 4, 1997, the voters of the City of College Station passed a referendum
authorizing the City of College Station to proceed with the construction of a conference center;
WHEREAS, on January 24, 2002, the College Station City Council directed staff to meet with
designated representatives from Brazos County and the Bryan Independent School District and this
meeting took place to discuss the implementation of Reinvestment Zone No. 15;
WHEREAS, on January 25, 2002 the City of College Station sent notice to the governing bodies of the
Brazos County taxing unit and of the Bryan Independent School District of its intent to consider the
implementation of a tax increment financing district and a reinvestment zone in the area of the Highway
30/60 Corridor; and requested that the sixty (60) days notice requirement be waived;
WHEREAS, on February 19, 2002 the County Commissioners approved the request to waive the sixty
(60) days notice requirement;
WHEREAS, on February 11, 2002 the Bryan Independent School District Board of Trustees approved
the request to waive the sixty (60) days notice requirement;
WHEREAS, on March 1, 2002, representatives of the City of College Station met with designated
representatives from Brazos County and the Bryan Independent School District and this meeting took
place to discuss the implementation of Reinvestment Zone No. 15;
WHEREAS, on February 19, 2002, City staff made a formal presentation to the Brazos County
Commissioners Court and on February 11, 2002 City staff made a formal presentation to the Bryan
Independent School District concerning the reinvestment zone. The presentation included a description
of the proposed boundaries of the zone, the tentative plans for the development or redevelopment of the
zone, and an estimate of the general impact of the proposed zone on property values and tax revenues;
WHEREAS, on March 5, 2002, notice of a public hearing to be held on March 14, 2002 was published
in the Bryan-College Station Eagle, a copy of the notice is attached hereto as Exhibit "A";
WHEREAS, a public hearing was held before the College Station City Council on the 14th day of
March, 2002, at 7:00 p.m. at the regular meeting of the Council;
WHEREAS, upon such public hearing being convened, there was presented proof and evidence that
notice of such hearing had been published and had been mailed as described above;
WHEREAS, the City Council at such hearing invited any interested person to appear and contend for or
against the creation of the reinvestment zone, the boundaries of the proposed reinvestment zone,
whether all or part of the territory, which is described by boundary survey attached hereto as Exhibit
"B" and depicted in the diagram attached hereto as Exhibit "C", should be included in such proposed
reinvestment zone, the concept of tax increment financing;
WHEREAS, all owners of property located within the proposed reinvestment zone and all other taxing
units and other interested persons were given the opportunity at such public hearing to protest the
creation of the proposed reinvestment zone or the inclusion of their property in such reinvestment zone;
WHEREAS, the City staff presented the preliminary financing and development plans for the proposed
reinvestment zone attached hereto as Exhibit "D"; and
WHEREAS, the proponents of the reinvestment zone offered evidence, both oral and documentary, in
favor of the foregoing matters relating to the creation of the reinvestment zone;
NOW, THEREFORE, BE IT ORDAINED by the City Council of the City of College Station, Texas,
that:
The facts and recitations contained in the preamble of this ordinance are hereby found and declared to
be true and correct.
Il,
The City, after conducting such hearing and having heard such evidence and testimony and considering
the preliminary project and financing plan, has made the following findings and determination based
upon the evidence and testimony presented to it:
That the public hearing on adoption of the reinvestment zone has been properly called, held and
conducted, and that notice of such hearing has been published as required by law and mailed to
all taxing units overlapping the territory inside the proposed reinvestment zone.
That the City has jurisdiction to hold and conduct this public hearing on the creation of the
proposed reinvestment zone pursuant to the TAX INCREMENT FINANCING ACT.
That creation of the proposed zone with boundaries as described in Exhibits "B" and "C" will
result in benefits to the City, its residents and property owners, and to the property, residents
and property owners in the reinvestment zone.
Do
That the reinvestment zone as described in Exhibit "B" and "C" meets the criteria for the
creation of a reinvestment zone as set forth in the TAX INCREMENT FINANCING ACT (SECTION
311.005 TEXAS TAX CODE [VERNON 1992 AND VERNON SUPP. 2002]) in that:
(1) It is a contiguous geographic area located wholly within the corporate limits of the City.
(2) That the area is predominantly open, underproductive and underdeveloped and
substantially impairs or arrests the sound growth of the municipality.
(3)
That development of the area would not occur in the foreseeable future solely through
private investment.
(4)
The total appraised value of all taxable real property in the zone according to the most
recent appraisal rolls of the City, together with the total appraised value of the taxable
real property and all other taxing existing reinvestment zones within the City, according
to the most recent appraisal rolls of the City, does not exceed fifteen percent (15%) of the
current total appraised value of the taxable real property in the City.
(5) Improvements in the reinvestment zone will enhance significantly the value of all taxable
real property in the reinvestment zone.
That a preliminary project plan and a financing plan have been developed and are
attached hereto as Exhibit "D". Such preliminary project and financing plans will be the
basis for the master plan for the final financing and development plans for the
reinvestment zone and shall assist the staff and board of directors in implementing a
successful reinvestment zone.
(7)
On January 14, 2002 TAC Realty Inc. and College Main Apartments Ltd. petitioned the
City Council of College Station that the area described in Exhibits "B" and "C" be
designated as a reinvestment zone. A copy of the petition is attached hereto as Exhibit
"E" and incorporated herein for all purposes. TAC Realty Inc. and College Main
Apartments Ltd. are the property owners of more than fifty percent (50%) of the
appraised value of the property in the proposed reinvestment zone. Therefore,
Reinvestment Zone No. 15 is hereby established by owner petition pursuant to SECTION
311.005 (^) (5) OF THE TAX INCREMENT FIN^NCrNG ACT.
(8) That the following Council Members were present and considered the ordinance
on March 14, 2002.
Lynn McIIhaney
Ron Silvia
Larry Mariott
Dennis Maloney
Anne Hazen
Winnie Garner (abstaining)
That the City hereby creates a reinvestment zone over the area described by the boundary survey in
Exhibit "B" attached hereto and such reinvestment zone shall be based on the preliminary project and
financing plans. This zone shall hereafter be identified as Reinvestment Zone No. 15, City of College
Station, Texas (the "Zone").
IV.
The Board of Directors for the Zone shall consist of nine (9) member directors. The City Council of the
City of College Station shall appoint six (6) members who shall meet the eligibility requirements as set
forth in the Act to serve on the Board of Directors. The Brazos County Commissioners Court shall
appoint one (1) member who shall meet the eligibility requirements as set forth in the Act to serve as a
member of the Board of Directors. The member of the state Senate in whose district the zone is located
or his designee is also a member of the board. The member of the state House of representatives in
whose district the zone is located or his designee is also a member of the board. The Brazos County
Commissioners Court member, the member of the state senate or his designee, the member of the state
house of representatives or his designee, and three (3) members appointed by the City of College
Station, shall serve an initial two (2) year term while the other three (3) appointed by the City of College
Station shall serve initial one (1) year terms. All subsequent appointments will be made for two (2)
staggered terms or until a successor director may be appointed thereafter. The City Council shall
designate one (1) member to serve as Chairman of the Board of Directors for the year ending December
31, 2003, and each year thereafter, and authorizes the Board to elect from its members a Vice-Chairman
and other officers as it sees fit. The Board shall retain all powers provided it in the Act.
The Board of Directors shall make recommendations to the City Council concerning the administration
of the Zone and shall prepare and cause to be prepared and adopt a Project Plan based upon the
preliminary Financing and Development Plans for the Zone and must submit such plans to the City
Council for its approval. The City hereby delegates to the Board of Directors all powers necessary to
prepare and implement such Project Plan, subject to approval by the City Council, including the power
to direct the staff and employ consultants to assist in the preparation of the Project Plan and in the
issuance of tax increment obligations.
Vo
That operation of the Zone shall commence immediately following the passage of this ordinance, and
that termination of the operation of the Zone shall occur on December 31, 2022, or at a time designated
by subsequent ordinance or at such time subsequent to the issuance of tax increment bonds as all project
costs and tax increment bonds, and the interest thereon, have been paid in full.
VI.
That the tax increment base for the Zone is the total appraised value of all taxable real property in the
reinvestment zone as of January 1, 2002.
VII.
That there is hereby created and established a Tax Increment Fund for the Zone which may be divided
into such sub-accounts as may be authorized by subsequent ordinances into which all tax increments are
to be deposited. The Tax Increment Fund and any sub-accounts are to be maintained at the depository
bank of the City and shall be secured in the manner prescribed by law for Texas cities. The tax
increments shall equal the amount of property taxes levied for a year on the captured and appraised
value, that is, the amount by which the current appraised value of all taxable real property located in the
Zone exceeds its tax increment base less any other funds which are to be allocated from the tax
increments pursuant to the Act. All revenues from the sale of any tax increment finance bonds and
notes hereafter issued by the City may be deposited into such fund or sub-account from which money
will be disbursed to pay project costs for the Zone or to satisfy the claims of holders of tax increment
bonds or notes issued for the Zone.
VIII.
That if any section, paragraph, clause, or provision of this ordinance shall for any reason be held to be
invalid or unenforceable, the invalidity or unenforceability of such section, paragraph, clause or
provision shall not affect any of the remaining provisions of this ordinance.
IX.
That it is hereby found, determined and declared that a sufficient written notice of the date, hour, place
and subject of the meeting of the City Council of the City of College Station at which this ordinance
was adopted was posted at a place convenient and readily accessible at all times to the general public at
the City Hall of the City of College Station for the time required by law preceding this meeting, as
required by the Open Meetings Act, 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 hereon has been presented,
discussed, considered and finally acted upon. The City Council of the City of College Station further
ratifies, approves and confirms such written notice and the contents and posting thereof.
That the contents of the notice of public hearing, which hearing was held before the City Council of the
City of College Station on March 14, 2002, and the publication of said notice, is hereby ratified,
approved and confirmed.
PASSED, ADOPTED and APPROVED on this the 14th day of March, 2002.
APPROVED:
/
LYNN MclLHANEY, Mayor
ATTEST:
Connie Hooks, City Secretary
APPROVED:
City Attorney
Exhibit "A"
LEGAL NOTICE
DATE TO BE PUBLISHED: March 5,2002 ONLY
BILL TO:
ATTN: MRS. KlM FOUTZ
P.O. BOX 9960
COIA,EGE STATION, TX 77842
NOTICE OF PUBLIC HEARING
The College Station City Council will hold a public hearing to consider an ordinm~ce
designating two tracts approximately 137.1386 acres and 55.5014 acres respectively in
the Richard Carter Survey A-8. J.W. Scott Survey A-49, College Station, Brazos County.
Tcxas conveyed to College Main Apartments Ltd. by CSL Properties, by deed recorded
in Volume 3687, Page 258 and conveyed to TAC Realty Inc. by Collegc Main
Apartments Ltd by deed recorded in Volume 4428, Page 248 of the Deed of Records of
Brazos County, Texas; and generally located at the southeast comer of the intersection of
Highway 60 and Copperficld Drive in College Station, as Reinvcstment Zonc Fifteen
(15) for a Tax Increment Financing District as provided in thc Tax Increment Financing
Act. This public hearing will discuss the creation of the zone and its bcncfits to thc
municipality and other matters related thereto. At the hearing any interested person may
speak tbr or against thc crcatton of thc zone. its boundaries, or the concept of tax
increment financing.
The hearing x,'ill be held in the City Council Chamber at College Station City Hall.
located at ] 101 Texas Aveatte, College Station, Texas at 7:00 p.m. on Thursday, March
14, 2002.
An}' request for sign interpretalive sen'ices must be made 48 hours before the meeting
To make arrangements call (979) 764-3547 or (TDD) 1-800-735-2989.
For additional information, please call Kim Foutz, Director of Economic Development,
City of College Station Department of Economic Development, at (979~ 764-3753.
TAX IN~
CSL c
Col~ga Stetion.l
Tm(lie, b~.
Acre TraG~
rter Survey,
tt Gurve¥, A-49
~- par~el ;f lan<l, lying eno ba~g
'~os Co~w, T~l. And ~lflg i11 ~f the
from TIxl; ins~ru~ntl, Inc., to
PIgS 82, Ot ~l Official Re~rdl of ~lZOi
of Texll, I~,. ricorde~ In Volume 3055,
;iecorcia of uos County,, Tsxse. end Mid 182.84 iCr&
tract I~lng more Pl~Iculady delcrJ aJ follows'
~r~ng ~e no~ corner ar ~e ~o~eon~ 26.~ acre t~ in t~l Io~88t
corner of We eeto~, et all - ~11~ 46.19 acre t~ct ~ re=ord~ ~ Vor~ 223.
Page 312, =Y ~e Oee~ R~o(~ of flrezo, County, Texas;
THENCE mono the Gamin ~C~]ed line oitwiin the ~foM~ntloned
of the Deed Rmcordl of ~azos Count, Toxal, &a
/
S 53* 39' OG' E ~or a ~a~n~ of 1 tB.B3 feet ~ · ~' Iron r~ set
at on~Lengle ~lnt COrner, from wh~h i &" cedar
~t ~eem N 23' 15' ~' E - 1.2 ~at, and · 20'
46" E- 18.3 fiat,
S 4~' 08' 4~' E for. ~i~e~l of 162.98 felt to a 27' ~
tree f~ ~ngle
for o~ ~lnt ~mr. from ~lCh i 20' past oak
:tee t~Cl ~gla polht ~e~a N esa 08' 2~= W
S 44e 31' 15" E a[ a ~iatence of 670,g5 feet para o ~' iron rod
foufldl~lng tho east ~t~r of the 25.~
tr~, [tom w~ I 26' ~sf ~k ~ee farce ~nglo
polar'acer; N ~ 02' 40' W - 25.8 feet,
co~l~a on ~r i Io~l ~iltl~e of 126g.~ foot
~a~kl~g the com~n co.et ~en She 48.19
aero ~aCt and the ! 13.67 acm tract,
S ~o sg' 40' E for a ~lfltiflCe of 1346.~ feet to a ~i" iron ro~
fou~ ~ a 6' ~lr ~lt fence comer ~rking The
gilt c,)rnor Of the 1 67.~ ·cra trKt, same
~ tqe no~hwolt right~f.~ line ct Sta:e
No. 3l ~;
being The southeast lind of tan before~n~oned 1eT,64 ac~ tract, as fo;Ia'wa'
S ~4* 2~ ~" ~' for a d~dtaflce of 2387 I0 feet to i ~' iron rod
Iouth~t. ~vJng I r~lui of 2924.79
Exhibit
I
CSL of TlxJl~, ;nc.
192.64 A~rl Trl;t ;
J. W. ~ Su~ey. A-~ j
CDHeOe S~tlon, ~ezo~ ~, Texl
Cent~d - Page 2
THENCE ilong the torn'non line ~
N 46* 22' 03" W for I c
found
N 01· ~' 20" E ~or I C
found
,N 404 2~' 0~' W for e
$ou~hv~etedy llung IM~ Gu(Ye f~ in Irc MAgth of 450.07 ~et to
1~" ~ - ~9,e2 f~t, e c~rete right, f-way
~'lr~rodfound~e~$13*25 23'~-0.~
feet, --
S35' 32' ~'W fo, e ~kt~ o~ 2~,46 ~ To a ~' iron
the ~lt eOr~t 0f ~e MIi~ E7.3~ lore
dM~l~ ~ ~ de~ r~ed ~ VMu~ 1182,
~gl J~76, of ~ 0~ll ~ of
~i~r~ ~ VOI~ 424, Page ~2, of mi
iitlnc4 of 1510,;8 f~r, lo I ~" Iron rod
at · 6' =reo~ote pelt f~ce in~l poi~,
I.tlnce Of 1377.18 fMt to i ~" ~on rod
I~e of 6~.~ feet ;0 I ~' Iron rod
the flQ ~ co~r of ~e 57~ Icre ~ ~ t~
IO~t rlght~f-~ I1~ of the
bsfore~ntlo~ FM No. ~ In~ ~ N~O in
icrc
THENCE N 44" 15' 21 ' E ~dong ,~he aou~ellt i~ght-of, we¥ line
p~ OF BEGINNING, ~n~ilnlng 182.64 lores of ~nd, ~M ar tel~,
~elrlngs blle~ 0,1 T~ue Norlh, Il obtained by ~llr Obll~Vetk~n.
EXHIBIT "CU
........ ~-I~.~: ~N~u'v'~'uN' ~
LOT I ~11} 2o BC~ 1 ~
2s,~ A~ES ~
~U[ ~, PA~ 210 ~
B.C.D.R. ~ ~
TEXAS A & M UNIVERSITY
(CALLED 57.~04.
VOLUME: 1192. PAGE 3,76
8. C.D.R.
I~y, Iii
JS ACRES
PAGE: 581
-R.
'moo C,.ARNS o,/8/n ?.c,
CUSTOM H~I£& AND
~LLY A. PE. ARCY
389~, PAG~ 42
HARVEy HILL~DES B.C.O.R,
BLOCK 4
GARDNER PARKER
C. lair"~ 3.18 AC
FIRST TRACT--EXHIBIT 'A'
VOLUME 124~, PAGE' 7.r~q
MAD
Exhibit "D"
Preliminary Project and Finance Plan
A copy of the preliminary project and finance plan is available for public view at the
('it)' Secretary's office located at ! I O! Texas Avenue, College Station. TX.
Exhibit "E"
A PETITION TO THE CITY COUNCIL OF THE CITY OF COLLEGE STATION
FOR THE DESIGNATION OF REINVESTMENT ZONE NUMBER FIFFEEN,
CITY OF COLLEGE STATION, TEXAS
UNDER CHAPTER 311, TAX CODE
TO THE CITY COUNCIL OF THE CITY OF COLLEGE STATION, TEXAS:
Pursuant to the provisions of Chapter 311, of the Texas Tax Code as amended
(the "Code"), the undersigned Petitioners hereby request the City Council of the City of
College Station, Texas (the "City"), to establish within the City a reinvestment zone (the
"Zone") over an area of land described by metes and bounds in Exhibit "A" and shown as
Exhibit "B" (the "College Station Reinvestment Zone Number 15 Area"). Petitioners are
the owners of property constituting at least 50 percent of the appraised value of the
property in the College Station Reinvestment Zone Number 15 Area according to most
recent certified appraisal roll for the County of Brazes, Texas.
Petitioners represent to the City Council that:
Thc area proposed to be included in the Zone is entirely within the
corporate limits of the City. The area proposed to be included in the Zone
is generally undeveloped, but shall be devoted primarily to light industrial,
commercial, office, retail, and multi-family uses.
Unless the zone is created as requested by Petitioners, the development of
the College Station Reinvestment Zone Number 15 Area will be impeded
because the area is predominantly open, unproductive, underdeveloped
and other factors.
The Petitioners would respectfully request the City Council as follows:
To create the proposed Zone pursuant to the provisions of Chapter 311 of
the Code and name it the "Reinvestment Zone Number 15, City of College
Station, Texas."
To provide that the Zone contain the area described by metes and bounds
in "Exhibit A" and as shown hereto as "Exhibit B", both of which are
incorporated herein for all purposes.
To provide that the Zone have all the powers of a reinveslment zone
created pursuant to the provisions of Chapter 311 of the Code.
To appoint a Board of Directors for the Zone to exercise the authority
granted by Chapter 3 11 for administration, management, and operation of
the Zone and implementation of the Zone project plan and Zone financing
plan.
To provide such other action and assIstance as thc C~ty Council may deem
necessary, and appropriate to assist in the development of the College
Station Reinvestment Zone Number 15 Area.
Respectfully submitted to the City Council of the City of College Station by and
through its City Secretary this /~ day of.J'aq., 2002. by the undersigned Pctmoners.
PETITIONERS.
COLLEGE MAIN APARTMENTS. LTD.
a Texas Limited Parmership
c/o: Cmnbridge Interests, Inc., General Partner
B
TAC
INC., a Texas corporation
By:
Donald A. Adam, Chief Executive Officer
Recording Data:
Owner's Deeds arc recorded in Vol. 3687, pg 258 of
the Deed Records of Brazos County, Texas.
Recording Data:
Owner's Deeds are recorded in Vol. 4428 , pg 2/48
of the Deed Records of Brazos County, Texas.
By executing th~s Petiuon, the foregoing persons represent anti warrant that they are du]~,
authorized to execute th~s Pcmion ~m behalf of thc respective cnnty named above