Res 237-82 12/28/1982RESOLUTION No. 237-
RESOLUTION APPROVING AND AUTHORIZING THE CITY
MANAGER TO EXECUTE A CONTRACT WITH THE COUNTY OF
WICHITA, STATE OF TEXAS CONCERNING ALLOCATION OF
A PORTION OF THE TAX INCREMENT TO BE COLLECTED
FROM A PROPOSED REINVESTMENT ZONE.
BE IT RESOLVED BY THE BOARD OF ALDERMEN OF THE CITY OF WICHITA
FALLS, TEXAS, THAT:
That certain agreement, a copy of which is attached hereto,
between the City of Wichita Falls and the County of Wichita, providing
for the allocation and payment over to such County of a portion of the
tax increment to be collected from the reinvestment zone being considered,
is hereby approved, and the City Manager is authorized to execute the
same for the City of Wichita Falls.
PASSED AND APPROVED THIS THEAVday of cit94-7-,A1-1_,/ , l972.
0
Alor
111111.
1.
11r AYOR
ATTEST:
JLZ))27e---
12;4QA1:4/2 ,—/)
CITY CLERK
Page 7 of II Pages
Agenda Item No. 5
This agreement made and entered into this the674 " day of December,
1982, by and between the City of Wichita Falls, Texas, hereinafter called "City",
and the County of Wichita, State of Texas, hereinafter called "County",
WITNESSETH:
WHEREAS, City intends to create and designate a reinvestment zone under
the authority of the Texas Tax Increment Financing Act of 1981, Article 1066e,
Revised Civil Statutes of Texas, which zone is described in Exhibit A, which is
attached hereto; and,
WHEREAS, the parties desire that a portion of the tax increment shall
be allocated and paid over to the County.
NOW, THEREFORE, the parties do hereby agree as follows:
In the event such reinvestment zone is created and designated by the
City, the City shall allocate and pay over to the County out of the tax increment
an amount equal to //Oa % of the taxes which County would have received from the
captured appraised value had such reinvestment zone not been created and designated.
Such renegotiation shall be accomplished during the month of March, and any new
percentage so negotiated shall be used in allocating the tax increment levied in
the current calendar year.
IN WITNESS WHEREOF, the parties hereto have caused these presents to be
executed as of the day and year first set out above.
CITY OF WICHITA FALLS
BY:
City Manager
ATTEST:
City Clerk
COUNTY OF WICHITA
STATE OF TEXAS
BY:
ATTEST:
Page 8 all Pages
Agenda Item No. 5
EXHIBIT A
DESCRIPTION OF THE BOUNDARIES OF
REINVESTMENT ZONE NUMBER 1, CITY OF WICHITA FALLS
The boundaries of the Reinvestment Zone Number 1 are as described below. Unless
otherwise stated, it is the intention of this ordinance that the entire width of
streets or portions of streets which form the boundaries of the zone are to be
included within the zone. All tax account numbers and addresses refer to data
shown on the tax roll and base maps of the city of Wichita Falls, Texas.
Beginning at the southwestern corner the intersection of Holliday Street and
11th Street;
Thence north along the west right-of-way line of Holliday Street to the south
right-of-way line of 5th Street;
Thence along the south right-of-way line of 5th Street to the northeast corner of
Lot 11, Block 1 of the Trueheart Subdivision;
Thence northerly, crossing 5th Street, to the southwestern corner of the Clifts
Subdivision and continuing northward to the northwest corner of Lot 37, Block 747
of the said Clifts Subdivision;
Thence west along the south right-of-way line of Third Street approximately 180
feet to the east property line of Riverside Cemetary, tax account number 0520-046
at 1800 5th Street;
Thence north along the said east property line to a point 150 feet south of the
south high bank line of the Big Wichita River;
Thence westerly, crossing the said Riverside Cemetary along a line 150 feet south
of the south high bank of the Big Wichita River to the west right-of-way line of
Van Buren Street;
Thence south along the west right-of-way line of Van Buren to the southeast corner
of a parcel of land, out of Abstract 300-J, tax account number 4530-001 at
400 Van Buren;
Thence in a westerly direction along the south property line of said parcel to the
southeast corner of a parcel of land out of Abstract 300-J, tax account number
4530-040 at 200 Sunset Drive;
Thence west along the south property line of said parcel to the southeast corner of
a parcel of land out of Abstract 300-J, tax account number 4530-041-01 at 201 Polk
Street;
Thence along the eastern and northern property lines of said parcel to the southwest
corner of 6. 7 acre tract out of Abstract 300-J, tax account number 4530-067 at
101x Lakewood Drive;
Thence northerly and westerly along the west and southwest property lines of the
said 6.7 acre tract to the northeast right-of-way line of Lakewood Drive;
Thence westerly along the south line of Lucy Park, tax account number 4530-063 to
the West Block Line of Abstract A-300;
Thence north along the West Block Line of Abstract A-300 and continuing along the
West Block Line of Scott Survey A-298 to the high bank on the north side of the
Big Wichita River;
Thence easterly along the high bank on the north side of the Big Wichita River to
a westerly extension of the north right-of-way line of N. 10th Street;
Thence east along the said extension of N. 10th Street to the east right-of-way line
of Central Freeway;
Page 9 of 11 Pages
Agenda Item No. 5
2-
Thence south along the east right-of-way line of Central Freeway to the north
right-of-way line of N. 6th Street;
Thence east along the north right-of-way line of N. 6th Street to the east right-
of-way line of Linwood Avenue;
Thence south along the east right-of-way line of Linwood Avenue to the southwestern
corner of Lot 12, Block 22 of the Scotland Addition;
Thence along the north, east, and south property lines of Scotland Park, tax account
number 3060-620 at 201 Central Freeway to the intersection of the north right-of-
way line of N. 1st Street and the east right-of-way line of Central Freeway;
Thence in a southerly direction along the east right-of-way line of Central Freeway
to the north right-of-way line of Scotland Drive;
Thence along the north right-of-way line of Scotland Drive to the north right-of-way
line of Cruse Drive, said point also being the southwest corner of Lot 13-A,
Block B, Scotland Gardens;
Thence along the north right-of-way line of Cruse Drive to the west right-of-way
line of N. Brook Avenue;
Thence following the west right-of-way line of N. Brook Avenue to the north right-of-
way line of N. 1st Street;
Thence east along the north right-of-way line of N. 1st Street to the southeast
corner of Lot' 24, Block 40, Scotland Addition;
Thence north along the west right-of-way line of N. Brook Ave. to the north right-
of-way line of Warren St. , said point also being the northeast corner of said
Lot 24, Block 40 of the Scotland Addition;
Thence crossing N. Brook Avenue along the north right-of-way line of Warren Street
and continuing along an extension of said right-of-way line, which is also the
south property lines of Lots 8 and 7 of Block 0, to the most southern corner of
Lot 11, Block P of the R.E. Montgomery Subdivision;
Thence in southerly, easterly, and northerly directions along the west, south,
and east property lines of the parcel of land, tax account number 0010-015 at
208 N. Travis St. to the most southerly corner of Lot 23, Block J of the said
R.E. Montgomery Subdivision;
Thence easterly along the south lot line of Lot 23, Block J to the west right-of-way
line of N. Lamar Street;
Thence northerly along the west right-of-way line of North Lamar Street to the
north right-of-way line of Wichita Street;
Thence easterly along the north right-of-way line of Wichita Street to the west
right-of-way line of the portion of Indiana Avenue closed by Ordinance 2006;
Thence southeasterly 40 feet along said former Indiana Avenue;
Thence along the centerline of the portion of Wichita Street closed by Ordinance 2006
to the west right-of-way line of the F.W.&D. Railroad;
Thence southeasterly to the south right-of-way line of Front Street;
Page 10 of 11 Pages
Agenda Item No. 5
3-
Thence westerly along the south right-of-way line of Front Street to the east right-
of-way line of Indiana Avenue;
Thence south along the east right-of-way line of Indiana Avenue to the south right-
of-way line of 2nd Street;
Thence west along the south right-of-way line of 2nd Street to the east right-of-way
line of Lamar Street;
Thence south along the east right-of-way line of Lamar Street to the south right-of-
way line of Third Street;
Thence west along the south right-of-way line of Third Street to the east right-of-
way line of Bluff Street;
Thence south along the east right-of-way line of Bluff Street to the north right-of-
way line of 4th Street;
Thence east along the north right-of-way line of 4th Street to the east right-of-way
line of Burnett Street;
Thence south along the east right-of-way line of Burnett Street to the north
right-of-way line of 5th Street;
Thence east along the north right-of-way line of 5th Street to the east right-of-
way line of Ohio Avenue;
Thence southeasterly 80 feet to the northwest corner of Lot 14, Block 138 of the
Original Townsite;
Thence northeasterly to the northeast corner of Lot 1, Block 138 of the Original
Townsite;
Thence southeasterly along the eastern block lines of the following blocks of the
Original Townsite: Blocks 138, 153, 162, 177, 181 and 196 to the northeast
corner of Lot 1, Block 197 of the Original Townsite;
Thence along the south right-of-way line of 11th Street, including that portion
closed by Ordinance 2003 and 1000, to the most northern corner of Block 199 of
the Original Townsite;
Thence southerly, westerly, and northerly including all of said Blk 199 to the
western most corner of said Block 199;
Thence along the south right-of-way line of 11th Street to the place of Beginning.
Page 11 of 11 Pages
Agenda Item No. 5