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Ord 061-2005 8/16/2005 ORDINANCE NO. (01'00015 ORDINANCE OF THE CITY COUNCIL OF THE CITY OF WICHITA FALLS, TEXAS, DESIGNATING A TAX INCREMENT FINANCING DISTRICT, REINVESTMENT ZONE #2, PROVIDING FINDINGS OF FACT, ADOPTING THE PLAN, DECLARING AN EMERGENCY; FINDING AND DETERMINING THAT THE MEETING AT WHICH THIS ORDINANCE WAS PASSED WAS OPEN TO THE PUBLIC AS REQUIRED BY LAW. WHEREAS, The City Council wishes to promote the development or redevelopment of a certain contiguous geographic area within its jurisdiction by the creation of a Tax Increment Financing District, Reinvestment Zone, as codified in Chapter 311 of the Texas Tax Code and known as the Tax Increment Financing Act ("the ACT"); and WHEREAS, the City has properly notified the proper officials of Wichita County and Wichita Falls Independent School District, as required by the ACT; and, WHEREAS, a public hearing was conducted at 10:00 a.m. on the 18th day of July, 2005, before the Wichita County Commissioner's Court, such date being at least seven (7) days after the date of publication of the notice of such public hearing in a newspaper of general circulation in the City of Wichita Falls; and, WHEREAS, the City, at such hearing invited any interested person to appear and contend for or against the creation of the Reinvestment Zone, whether all or part of the territory, which is described by a metes and bounds description attached hereto as Exhibit "A" and depicted in the drawing attached hereto as Exhibit "B", should be included in such proposed Reinvestment Zone; and, 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; and WHEREAS, the proponents of the Reinvestment Zone offered evidence, both oral and documentary, in favor of all of the foregoing matters relating to the creation of the Reinvestment Zone, and no opponents of the Reinvestment Zone appeared to contest creation of the Reinvestment Zone; and, WHEREAS, after considering all testimony and evidence offered at the public hearing, the City Council finds that improvements in the Reinvestment Zone will enhance significantly the value of all taxable real property in the Zone, will be of general benefit to the City of Wichita Falls, and that it will be in the public interest to pass this ordinance creating a Reinvestment Zone. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF WICHITA FALLS, TEXAS, THAT: SECTION 1. The facts and recitations contained in the preamble of this Ordinance are hereby found and declared to be true and correct. SECTION 2. The City, after conducting such hearing and having heard such evidence and testimony, has made the following findings and determinations based on the evidence and testimony presented to it: (a) 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, (b) That the City has jurisdiction to hold and conduct this public hearing on the creation of the proposed Reinvestment Zone, pursuant to the ACT; and, (c) That creation of the proposed Zone will result in benefits to the City, its residents and property owners, and to the property, residents and property owners in the Reinvestment Zone, and, (d) That the Reinvestment Zone, as defined in Exhibits "A" and "B", meets the criteria for the creation of a Reinvestment Zone as set forth in Section 311.005 of the ACT in that: (1) The area can substantially arrest or impair the sound growth of the City of Wichita Falls, retard the provision of housing accommodations, or constitute an economic or social liability and be a menace to the public health, safety, morals, or welfare in its present condition and use because of the presence of: (a) A substantial number of substandard, slum, deteriorated, or deteriorating structures; (b) The predominance of defective or inadequate sidewalk or street layout; (c) Faulty lot layout in relation to size, adequacy, accessibility, or usefulness; (d) Unsanitary or unsafe conditions; (e) Conditions that endanger life or property by fire or other causes; (2) It is predominantly open and, because of obsolete platting, deterioration of structures or site improvements, or other factors, may substantially impair or arrest the sound growth of the municipality. (3) Improvements in the Reinvestment Zone will enhance significantly the value of all taxable real property in the Reinvestment Zone. SECTION 3. The City hereby creates a Tax Increment Financing District, Reinvestment Zone Number 2, City of Wichita Falls ("the Zone") over the area described by the description in Exhibit "A", attached hereto and depicted in a drawing attached hereto as Exhibit "B". SECTION 4. The operation of the Zone shall commence on August 16, 2005, and shall terminate on July 31, 2025. The Zone may be renewed for an additional five (5) years, or may terminate sooner by subsequent ordinance. SECTION 5. The City hereby creates a Board of Directors for the Zone, which shall consist of five (5) members, at least three (3) of which shall be appointed by the City Council, one (1) by the Wichita County Commission, and one (1) by the Wichita Falls Independent School District. Three Board members shall have initial appointments terminating on December 31, 2007. Two Board members shall have initial appointments terminating on December 31, 2006. All subsequent appointments shall be made for two year staggered terms. In the event that no successor has been appointed by December 315t of any year, such member shall continue to serve until his or her successor is appointed. The City Council shall appoint one member of the Board to serve as chairman for a term of one year that begins on January 1 of the following year. The Board of Directors may elect a vice-chairman to preside in the absence of the chairman or when there is a vacancy in the office of chairman. The Board may elect other officers, as it considers appropriate. SECTION 6. There is hereby created a Tax Increment Fund #2 for the Zone into which all tax increments shall be deposited. The tax increments shall be equal to the amount of property taxes levied for a year on the captured 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. The base shall be as determined and certified in the Financial Plan as the 2004 values. SECTION 7. The Plan for the Tax Increment Financing Reinvestment Zone #2 is hereby adopted. SECTION 8. 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. SECTION 9. It is hereby officially found, determined, and declared that a sufficient written notice of the date, hour, place, and subject of the meeting of the City Council 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 for the time required by law preceding this meeting, as required by the Open Meetings Law, Vernon's Annotated Civil States, 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. The City Council further ratifies, approves, and confirms such written notice and the contents and posting thereof. SECTION 10. It is hereby found and determined that the subject matter of this ordinance affects the public health, safety, and general welfare of the citizens of Wichita Falls and that therefore this ordinance is declared to be an emergency measure and shall become effective immediately upon its passage. PASSED AND APPROVED this the 16th day of August, 2005. MAYOR ATTEST: C t Clerk EXHIBIT A REINVESTMENT ZONE #2 BOUNDARY Beginning at a point at the southeast corner of Lot 2A, Block 62, Fountain Park 8D; Thence westerly along the southern lot line of said Lot 2A, Block 62 to a point, said point being the southwest corner of said lot, Thence continuing westerly across McNiel Avenue 70 feet to a point, said point being on the west right-of- way line of McNiel Avenue; Thence southerly 60 feet to a point, said point being in the west right-of-way line of McNiel Avenue; Thence easterly across McNiel Avenue to a point, said point being the northwest corner of Lot 1A, Block 63, Fountain Park 8D; Thence easterly along the north lot line of Lot 1A, Block 63 to a point, said point being the northeast corner of said lot; Thence South 02 deg. 38'00" E 374.71 feet following the east lot lines of Lots 1A, 2A, & 3B, Block 63, Fountain Park 8D to a point, said point being the northwest corner of Lot 6, Block 63, Fountain Park 8D; Thence easterly following the north lot lines of Lots 6, 7, & 8, Block 63, Fountain Park 8D to a point, said point being the northeast corner of Lot 8, Block 63, Fountain Park 8D; Thence southerly following the east lot line of said Lot 8, Block 63 to a point, said point being the southeast corner of said lot; Thence westerly following the north right-of-way of S. Regent Drive to a point being the southwest corner of Lot 5, Block 63, Fountain Park 8D; Thence continuing westerly across McNiel Avenue 70 feet to a point, said point being the southeast corner of Lot 22, Block 48, Fountain Park 3D; Thence southerly across Canberra Drive 50 feet to a point, said point being the northeast corner of Lot 1A, Block 1, Church of Christ Block 14 Denton CSL LG1, said point also being a point on the west McNiel Avenue right-of-way line; Thence continuing southerly along the west McNiel Avenue right-of-way line 270 feet more or less to a point, said point being on the west McNiel Avenue right-of-way line; Thence easterly 70 feet to a point, said point being the northwest corner of Lot 1, Old Town Center, Block 14, Denton CSL LG1; Thence easterly 144.97 feet along the north lot line of said Lot 1, Old Town Center, Block 14, to a point, said point being the northeast corner of said lot; Thence continuing easterly along the north property line of a 1.71 Acre Tract of land out of Block 14, Denton CSL LG1 to a point, said point being the northwest corner of a .23 Acre tract of land out of Block 14, Denton CSL LG1; Thence southerly along the west property line of said .23 Acre tract of land to a point, said point being the southwest corner of said tract of land, Thence easterly along the south property line of said .23 Acre tract of land to a point, said point being the southeast corner of said tract of land; Thence southerly to a point, said point being the southwest corner of a 19.8 Acre tract of land out of Blocks 12 and 13, DCSL LG 1 &A-610, said tract owned by the City of Wichita Falls; Thence westerly along the north lot line of Lot 1, Block 214A, Highland & 29'x1272', Block 13, Denton CSL LG1 to a point, said point being the northwest corner of said lot; Thence southerly along the west lot line of said Lot 1, Block 214A to a point, said point being the southwest corner of said lot; Thence continuing southerly 60 feet across Call Field Road to a point, said point being on the south right- of-way line of Call Field Road, Thence easterly along the south right-of-way line of Call Field Road to the northeast corner of a tract of land described as the East 87 Feet of North 135 Feet, Block 18, Faith Village 1, continuing easterly 50 feet across Boren Avenue along the south right-of-way line of Call Field Road to a point, said point being the northeast corner of Lot 1, Block 16, White Acre#1, continuing easterly 50 feet across Featherston Avenue along the south right-of-way line of Call Field Road to a point, said point being the northeast corner of Lot 1, Block 14, White Acre #1, continuing easterly 50 feet across Gossett Drive along the south right-of-way line of Call Field Road to a point, said point being the northwest corner of Lot 1-A, Block 9, Faith Village Unit 1; Thence southerly along the west lot line of Lot 1A, Block 9A, Faith Village Unit 1 to a point, said point being the southwest corner of said lot; Thence southeasterly along the south lot line of said Lot 1A, Block 9A to a point, said point being the southeast corner of said lot, Thence southwesterly along west right-of-way of Rhea Road to a point, said point being the northeast corner of Lot 16, Block 11, Faith Village 1; Thence easterly 80 feet across Rhea Road to a point, said point being the west most corner of Lot 32, Block 7, Faith Village 1; Thence southerly 20 feet more or less across the alley in Block 7, Faith Village 1 to a point, said point also being the northwest corner of Lot 1, Block 7, Faith Village 1; Thence southeasterly along the south right-of-way line of said alley in Block 7, Faith Village 1 to a point, said point being the northeast corner of Lot 18, Block 7, Faith Village 1; Thence continuing southeasterly 55 feet more or less across Faith Road to a point, said point being the southwest corner of Lot 9, Block 2, Faith Village 1; Thence continuing along south lot line of said Lot 9, Block 2 to the southeast corner of said lot, said corner also being a point on the west right-of-way of an alley in Block 2, Faith Village 1; Thence northeasterly along the west right-of-way line of said alley in Block 2, Faith Village 1 to a point, said point being the northeast corner of Lot 7, Block 2, Faith Village 1; Thence southeasterly 15 feet more or less across said alley in Block 2, Faith Village 1 to a point, said point being the northwest corner of Lot 1, Block 1, Smith Commercial & Grant Street Addn.; Thence continuing southeasterly along north lot line of said Lot 1, Block 1 to a point, said point being the northeast corner of said lot; Thence easterly 100 feet more or less across Kemp Blvd. to a point, said point being on the east right-of- way line of Kemp Blvd.; Thence northerly along the east right-of-way of Kemp Blvd. to a point, said point being the northeast corner of a 1.55 Acre tract of land out of ABST 354 & ABST 619 & ABST. 354F and also described as being the intersection of the east right-of-way line of Kemp Blvd. and the south right-of-way line of Midwestern Parkway; Thence northeasterly 90 feet more or less across Midwestern Parkway to a point, said point being the most southwesterly point of Lot 1, Block 173, Highland Add; Thence northwesterly 112 feet more or less across Kemp Blvd. to a point, said point being the most southeasterly point of a 9.183 Acre tract of land out of Lot 2, Block 1, Wichita Square and also being a point on the north right-of-way line of Callfield Road; Thence northwesterly along the said north right-of-way line of Callfield Road to a point, said point being the southwest corner of said 9.183 Acre tract of land; Thence continuing northwesterly along the north right-of-way line of Callfield Road to a point, said point being the southwest corner of Lot 4, Block 1, Less South 5' Wichita Square; Thence northerly along the west lot line 235.96 feet of said Lot 4, Block 1 to a point; Thence continuing easterly along said north lot line 20 feet of said Lot 4, Block 1 to a point; Thence continuing northerly along said west lot line 18 feet of said Lot 4, Block 1 to a point; Thence easterly along north lot line of said Lot 4, Block 1 to a point, said point being on the northeast corner of said lot; Thence northeasterly 30.15 feet to a point, said point on the west lot line of a 9.183 Acre tract of land out of Lot 2, Block 1, Wichita Square; Thence northwesterly 269.71 feet to a point, said point being the northwest corner of said 9.183 Acre tract of land; Thence continuing northeasterly along the north property line of said 9.183 Acre tract of land to a point, said point being the northeast corner of said tract of land; Thence southerly 125 feet more or less to a point, said point being the southwest corner of a 11.42 Acre tract of land out of Blocks 192-194 &Adj. closed street, Highland; Thence continuing easterly along the south property line of said tract 458 feet to a point, said point being the southeast corner of said tract; Thence northerly 126.6 feet along the east property line of said 11.42 Acre tract of land to a point, said point being the northwest corner of a .53 Acre tract of land out of Blocks 172 & 173, Highland; Thence easterly 60 feet along the north property line of said .53 Acre tract of land to a point, said point being the northeast corner of said tract of land; Thence easterly 40 feet across Arthur Street to a point, said point being on the east right-of-way line of Arthur Street; Thence northerly along the east right-of-way of Arthur Street to a point, said point being the southwest corner of Lot 15, Block C, Love's Replat; Thence easterly along the south lot line of said Lot 15, Block C to a point, said point being the southeast corner of said lot; Thence northeasterly 22 feet more or less across an alley in Block C, Love's Replat to a point, said point being the southwest corner of Lot 1, Block C Kemp Fair Park; Thence easterly along the south lot line of said Lot 1A, Block C to a point, said point being the southeast corner of said lot, continuing easterly 60 feet across Garfield Street to a point, said point being the southwest corner of Lot 16, Block D, Kemp Fair Park, continuing easterly along the south lot line of said Lot 16, Block D to a point, said point being the southeast corner of said lot, continuing easterly 20 feet across an alley in Block D, Kemp Fair Park to a point, said point being the southwest corner of Lot 1, Block D, Kemp Fair Park, continuing easterly along the south lot line of said Lot 1, Block D to a point, said point being the southeast corner of said lot, continuing easterly 60 feet across Grant Street to a point, said point being on the west lot line of Lot 16A, Block G, Kemp Fair Park; Thence southerly 150 feet more or less to a point, said point on being on the west lot line of said Lot 16A, Block G; Thence southeasterly 14.07 feet to a point, said point being the southern most point of said Lot 16A, Block G; Thence easterly 130 feet more or less across Kemp Blvd. to a point, said point being the most northerly point of Lot 2A, Block 5, Section 6, Willow Brook 1; Thence northeasterly along the east right-of-way line of Kemp Blvd. to a point, said point being the most northerly point of Lot 1, Block 5, Willow Brook 1, continuing northeasterly 84 feet more or less across Maplewood Avenue to a point, said point being the most westerly point of Lot 1, Block 4 & 540 Square Feet of Lot 8A, Block K, Kemp Fair Park Willow Brook 1, continuing northeasterly along the east right-of- way line of Kemp Blvd. to a point, said point being the most northwesterly point of said property; Thence northwesterly 115 feet more or less across Kemp Blvd. to a point, said point being on the east lot line of Lot 6A & Lot 8 (LESS ROW), Block H, Kemp Fair Park and also described as the intersection of the west right-of-way line of Kemp Blvd. and west right-of-way line of Buchanan Street; Thence northerly along the east lot line of said Lot 6A & Lot 8 to a point, said point being the northeast corner of said lot, Thence westerly along the north lot line of said Lot 6A & Lot 8 to a point, said point being the northwest corner of said lot; Thence southerly 100 feet more or less on the west lot line of said Lot 6A & Lot 8 to a point, said point being on the west lot line of said lot; Thence westerly 20 feet across the alley in Block H, Kemp Fair Park to a point, said point being the northeast corner of Lot 9, Block H, Kemp Fair Park, continuing westerly on the north lot line of said Lot 9, Block H to a point, said point being the northwest corner of said lot, continuing westerly 60 feet across Grant Street to a point, said point being the northeast corner of Lot 8, Block E, Kemp Fair Park, continuing west on the north lot line of said Lot 8, Block E to a point, said point being the northwest corner of said lot, continuing westerly 20 feet across the alley in Block E, Kemp Fair Park to a point, said point being the northeast corner of Lot 9, Block E, Kemp Fair Park, continuing westerly on the north lot line of said Lot 9, Block E to a point, said point being the northwest corner of said lot, continuing westerly 60 feet across Garfield Street to a point, said point being the northeast corner of Lot 8, Block B, Kemp Fair Park, continuing westerly on the north lot line of said Lot 8, Block B to a point, said point being the northwest corner of said lot, Thence northeasterly 20 feet more or less across the common alley in Block B, between Love's Replat and Kemp Fair Park to a point, said point being the northeast corner of Lot 9, Block B, Love's Replat; Thence westerly on the north lot line of said Lot 9, Block B to a point, said point being the northwest corner of said lot; Thence northerly along the east right-of-way line of Arthur Street to a point, said point being the northwest corner of Lot 15, Block B, Love's Replat, continuing northerly 60 feet across Avenue Y to a point, said point being the southwest corner of Lot 9, Block A, Love's Replat, continuing northerly along the east right- of-way line of Arthur Street to a point, said point being the northwest corner of Lot 15, Block A, Love's Replat; Thence northwesterly 75 feet more or less across Hampstead Lane to a point, said point being the southwest corner of Lot 17, D & R Replat of Block 167, Highland Addn.; Thence northerly along the east right-of-way line of Arthur Street to a point, said point being the northwest corner of Lot 23, D & R Replat of Block 167, Highland Addn., continuing northerly 60 feet across Avenue W to a point, said point being the southwest corner of Lot 25, Block 167, Highland, continuing northerly along the east right-of-way line of Arthur Street to a point, said point being the northwest corner of Lot 32, Block 167, Highland; Thence easterly along north lot line of said Lot 32, Block 167 to a point, said point being the northeast corner of said lot, continuing easterly 20 feet across an alley in Block 167, Highland to a point, said point being the northwest corner of Lot 1, Block 167, Highland, continuing easterly along the north lot line of said Lot 1, Block 167 to a point, said point being the northeast corner of said lot, continuing easterly 60 feet across Garfield Street to a point, said point being the northwest corner of Lot 7, Block 117, Highland; Thence northeasterly 65 feet more or less across Avenue V to a point, said point being the southwest corner of Lot 8C, Block 118, Highland; Thence northerly 180.4 feet along the west lot line of said Lot 8C, Block 118 to a point, said point being on the west lot line of said lot, continuing northerly 20 feet across an alley in Block 118, Highland to a point, said point being the southwest corner of Lot 16, Block 118, Highland, continuing northerly along the east right-of-way line of Garfield Street to a point, said point being the northwest corner of Lot 22, Block 118, Highland; Thence easterly along the north lot line of said Lot 22, Block 118 to a point, said point being the northeast corner of said lot, continuing easterly 20 feet across an alley in Block 118, Highland to a point, said point being the northwest corner of Lot 1A Replat, Block 118, Highland, continuing easterly along the north lot line of said Lot 1A, Block 118 to a point, said point being the northeast corner of said lot, continuing easterly 60 feet across Grant Street to a point, said point being the northwest corner of Lot 20A Replat, Block 36A, Highland; Thence northeasterly 60 feet more or less across Avenue U to a point, said point being the southwest corner of Lot 9A Replat, Block 29A, Highland, continuing northeasterly along the east right-of-way line of Grant Street to a point, said point being the northwest corner of Lot 16, Block 29A, Highland, continuing northeasterly 60 feet across Avenue T to a point, said point being the southwest corner of Lot 7A Replat& Closed Alley of Block 28A, Highland, continuing northeasterly 100 feet along the east right-of-way line of Grant Street to a point, said point being on the west lot line of Lot 7A, Block 28A, continuing northeasterly 65 feet more or less along the west lot line of said Lot 7A, Block 28A extended to a point, said point in the north edge of pavement of the eastbound Kell Freeway Access Road; Thence southwesterly along said edge of pavement of the eastbound Kell Freeway Access Road to a point, said point being the intersection of the east lot line of Lot 1, Block 1, Regency One Addn. extended north to a point in the north edge of pavement of the eastbound Kell Freeway Access Road, said point being 50 feet more or less north of the northeast corner of said Lot 1, Block 1; Thence southerly 50 feet more or less to a point, said point being the northeast corner of Lot 1, Block 1, Regency One Addn., continuing southerly along said east lot line of said Lot 1, Block 1 to a point, said point being the southeast corner of said lot, Thence continuing southerly 950 feet more or less along the east line of said Lot 1, Block 1 extended south to a point, said point being the southeast corner of Lot 1A, Block 1, Lowe's Addn. Burlington Callfield Industrial District; Thence continuing westerly 600 feet more or less along the south lot line of said Lot 1A, Block 1 to a point, said point being the intersection of the south lot line of said lot and the east lot line of Lot 1C, Block 6, Burlington-Callfield Industrial Addn. extended north; Thence southerly 60 feet across Gregory Street to a point, said point being the northeast corner of said Lot 1C, Block 6, continuing southerly along the east lot line of said Lot 1C, Block 6 to a point, said point being the southeast corner of said lot; Thence westerly along the south lot line of said Lot 1C, Block 6 to a point, said point being the southwest corner of said lot, continuing westerly along the south lot line of Lot 1A, Block 6, Burlington Callfield Industrial District to a point, said point being the southwest corner of said lot, continuing westerly 70 feet across Lawrence Road to a point, said point being on the west right-of-way line of Lawrence Road; Thence southerly along the west right-of-way line of Lawrence Road to a point, said point being the southeast corner of Lot 1, Block 12, Burlington-Callfield Industrial District and also on the north right-of- way line of Trade Drive; Thence westerly and northwesterly along the north right-of-way line of Trade Drive to a point, said point being the southeast corner of Lot 2, Block 12, Burlington —Callfield Industrial District; Thence northeasterly and northerly along the east lot line of said Lot 2, Block 12 to a point, said point being the northeast corner of said lot; Thence westerly along the north lot line of said Lot 2, Block 12 to a point, said point being the northwest corner of said lot; Thence northerly along the east lot line of Lot 14. Block 62, Fountain Park 4D to a point, said point being the northeast corner of said lot; Thence westerly along the north lot line of said Lot 14, Block 62 to a point, said point being the northwest corner of said lot, continuing westerly 70 feet across McNiel Avenue to a point, said point being on the west right-of-way line of McNiel Avenue; Thence southerly along the west right-of-way line of McNiel Avenue to a point, said point being the northeast corner of Lot 9, Block 46, Fountain Park 3D; Thence southeasterly 70 feet more or less across McNiel Avenue to a point, said point being the northwest corner of Lot 1A, Block 62, Fountain Park 8D, continuing southeasterly along the north lot line of said Lot 1A, Block 62 to a point, said point being the northeast corner of said lot; Thence southwesterly along the east lot line of said Lot 1A, Block 62 to a point, said point being the southeast corner of said lot and also being the northeast corner of Lot 2A, Block 62, Fountain Park 8D; Thence southwesterly along the east lot line of said Lot 2A, Block 62 to a point, said point being the southeast corner of said lot and also the place of beginning. 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