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HomeMy WebLinkAboutResolution No. 2015-042RESOLUTION NO. 2015- O� it I Hill I I WHEREAS', Chapter 372 of the Texas, Local Government Code authorize the City of The Colony,, Texas, to cr:tie a pclic improvement district within the City ofThe C,010D,y, Texas. and WHEREAS, on Monday, September 17, 2012, there Nees presented to the City of The Colony, Texas (hereinafter �referred to as the "City") a petition seeking the authorization to establish, W a public, improveme'.1i:t district (hereinafter referred to as the! "District") within. the City pursuant to Chapter' ) 72 of the Texas Local. Government Code, as amended; and WHEREAS, on Tuesday,, Septemberr .18, 2,0,12 the City Council for the City approved Resolution No. 2012-067, ordering a public hearing for October 8, 2101 2.,, to consider a resolution creating the District; and, WHEREAS, on Tuesday, Oct 8, 2012, the City Council for the City approved Resol,'ution No., 2012-073 ), crting the City of The Colon " Public Improvement District No. I WHEREAS, on Tuesday, Apr'll 21, 21015, the Cit� Council proposes to accept the City Qf The Colony Public Improvement District No. .1, Preliminary 2015, Annual &rvice and Assessment Plan. dated March 17, 2015, for properties within the District, including Vii) a determination of the cost of the public improvements and supplemental sevvices, being provided for the special benef-it of the District., (ii) a service plan, (iii) an assessment plan', and (Lv) an, assessmernt roll i(collectivel),,r, the "Pretiminary 2015 Annual SAP"), which Prelim.11-iary .2015 Annual SAP is attached hereto as Exhihit AI,; and WHEREAS, the City Council proposes a public hearing for Tuesday, � 5, 2015, to consider an ordinance levying assessments against,the Property to pay.for the public improvernents identified in, the Prelim.1nary 2015 Annual SAP that will confer a special benefit on, the Propefty and authorizes and directs, the City Secretary to publish and mi ail. notices of said pu,blic he n accordance with the Act. NOW TI-IEREFOW--j', BE IT RE, SOLVED BY THE CITY COUNCIL OF THE CITY OF THE COLONY, TEXAS, THAT: SECTION 1. The findings set fort h above are incorporated into the body of this Resolution. as if ftilly set forth. herein. SECTION 2. That the City Council `'the City of The Colony, Texas, does hereby accept the Preliminary 20 1 5 An.nual Service and Assessment Plan, for the District and proposed assessment roll `or the City of The Colony Pubtic, Improvement District No. I copy of which is attached hereto as ExhibitA, andis incorporated for all purposes. SECTION 3. That the Cit3.J11" Council the City The Colony, Texas, does hereby -order a public hearing to be held, on Tuesday, May 5, 2015 at 6:30 pm., at City Hall, located at 6800 Main Street., The Colony,Texas, for the purpose of hearing P'Ll"blic testi m.onv concerning the levy of special. assessments in the aggregate amoun't of $1,379,301.00 against the property within the Distn,ct t '7' for public improvements and enhanced services that will, confer a special benefit, on the properties located within the City of The Colony Public Improvement District No. 1. SECTION 4., At such time and place the its Council will hear testip ony regarding the adoption of an ordinance levying, special assessments against the properties in accordance with ,section ..' ) 72.017 of the Act. SECTION 5. That tb.e City Secretary is hereby authorized ai-,td directed to cause said notices of the public hearing to be published in substantially the form as attached hereto as Exhibit 41 BI in a newspaper of general circulation in the City consistent xvith. Section 372.016(b) of the Texas Local Goi,,ernrneat Code. in addition., the City Secretary is hereby authorized. and directed to cause said notices to be mailed to affected landowners within, the boundaries, of the proposed, District consistent with Section 372.01,6(c) of the Texas, Local GoNrerrunent Code. SECTION 6. If any section, article paragraph, sentence, clause, phrase or word in this Resolution, or application thereto any persons or circa rnstances is he invalid or unconstitutional by a Court of competent jurisdiction, such hold,lng shall not affect the validity of the remaining portioii,s of this Resolutioq- and, the City Council hereby declares. it WOUld have passed such. remaining portions of this Resolution despite such invalidity, which remaining portions shall remain in full lorce and effect. SECTION 7. This Resolution. shall become ef,"fective froi,'ia and after its at of passage in accordance with law,., PASSED AND, APPROVED BY THE CITY COUNCIL OF THE CITY OF THE 'f­"OLONY,TEX_,_A,S,,, THIS 21't day of APRI, L, 2015. k� e McClou, y, Mayor ATTEST:,/)I 2 roz, www', City of The Colon),,Public, In-1pro vein, ent District No. I , Prelim.1nary 2015 Annual Servwe and Assessment Plan Ciity, of The Colony Public Improvement District No. I Preliminary 2015 Annual Service and Assessment Plan 'DAwa ft March 17, 2015 "T"he Colony PUblic Improvement District No. I Service and Assessment Plan, 1775,.E 10\45882.6, Z "'E C,r rION 1, !) J � i A Capitalized terms used in this "City of The Colony Public frnproNl-ement District No. I SerNice and Assessment Plan" (this "Service and Assessment Plan") shall, have the meanings set 'I"brthin Section 2. Unless otherwise defined, all references to "Section" mean a, section of this Service and Assessment Plan,, and all references to "Exhibit" mean an exh.ibit to this Service and Assessment Plan. 'I. On. October 8, 2012, the City Council of thCity of The Colony", Texas the "Cit CO'Uncil" and the "Cit ") passed, and approved ReSOILItion No. 201,2,-073 creating 'rhe Colony Public lmprovement District No. I (the "District") pursuant -to Chapter 372, Texas Local Government Code,ended (the "Act"). The District includes within its bOUndart es approximately 439.1.2 contiguous acres located within, the curporate limits of the City south of and aqjace nt to the Sam Rayburn Tollway (State Highway 121), north of and adjacent to Plano Parl ay, and west of'Spring Creek Parkway, which property is described by metes and bounds, onExhibit A and depicted on ExhlbitA-1 (the "Property"). 1.2 Portions of the Property are currently undev"eloped, while other portions are under development or fully developed. The portion of the Property described as Grand,scape Addition. Lot I/Block. A consisting, of 8,1.99 acres and 'identified, as Denton Central Appray sal Dilstri ct ("Denton CAD"), Tax, Parcel No. 618, and the portion of the Property described as Grandscape Additional Lot 2/Block A consisting of 25.48 acres and identified by Denton. CAD Tax Parcel No. 657619 (collecti,vely, the "Facility Property") is developed with, a mixed-use fficilityw Nvhich, includes approximc-,itely 1,280,000 square feet for warehouse and distribution uses, approximately 25,000 sqe feet for a regi.onal. corporate headquarters, approximately 546,000 square feet for retail sales to the general public and surface and structured parking, (col,lecti- ely, the "Facill,tv"). The portion of the property described as Grand .p Addition, Phase H, Lot 2/Block D consisting of 16.421 acres and identified as Denton CAD Tax Parcel. No. J (tete "Boardwalk .Pr gperty") �vfll, be developed with a, boardwalk and related amenities (the "Boardw,alk,"). Portions of the Property willbe developed with additional mixed- use facilities including, but not limited to, entertainment, tourism, recreate n, and, convention facilities, that will attract tourists, Visitors, and shoppers from a wide geographic region., and hotels, retail stores, concessions, restaurants, and other facilities relate . to the entertainnient,, tourism, recreation, and corivention uses (coilectirel yl, the "Related Devetopment"). The portions of ti e Related De-velopment currently under development include the following: the portion of the Property described as ('I) Grand scape Addition, Phase 111, Lot 6/Block. A consisting of 2.105 acres and identified as Denton CAD Tax Parcel No. 649990,; (2) Grand scapeAddition,, Phase IL Lot 7/Block A consisting of 2.248 acres and, identified as Denton CAD Tax Parcel No. 649,991; (3) Grand,scape Addition,, Phase 11, Lot 8/Block A consisting of 2.944 acres and identified as Denton CAD Tax Parcel No. 653843. (4) Grand ,scaAddition, Phase 11, Lot 11,ie Colony Public.1m.provement District No, I Seri -ice an.d Assessment Plart Page I IUMOMMUM 9/131oc1 Ac onsistin.g of 2.,683 acres and identified as Denton CAD Tax Parcel'No. 653844; (5) Grandscape Addition Phase 11,, Lot. 213. k, B consisting of L949 acres and identified, as Denton. CAD Tax Parcel, No. 655036; (6) Grandscape Addition. Phase II, Lot I/Block B consisting of 3.693 acres and identified as Dentn CAD Tax. Parcel No. 655035 (collectively 1.2(l)-(6) are, the "'Related Development Pr Other Portions of the Property will be developed with public, improvements required to serve the Facility (the "Facility Public Ire ivroiTments public, im.pro-%,,ements required to serve the Boardv%,ally. (the "Boardwalk Public Improvements"); and public improvements required to serve the Related DeN,�elopment the "Related Development Public Improvements",, and referred to collectively with the Facility Public Improvements and the Boardwalk PublicImprovements as the "Public, Improvements"'). 1.3 The Public Improvements, and portions of the Property on which the Public, Improvements are constructed, will remain owned by the City. 1.4 It is contemplated that the PUblic Improvements Neill be constructed by, or on. behalf of the C it`U,Sing, rnpart,, Asses sment Revenue. 1.5 Assessment Revenue from. any Assessment against a1.1 or any porbon of the Property will be collected in luni,p sum with 30 days of the levy of the assessment and deposited into a segregated operating account (the "PID Operating Account for Annual Assessm,erits,") created, and, controlled by the City. Interest earned on, the PID Operating Account for Annual Assessments shall be added to and become part of the PID Operating Account for Annual Assessments., The PID Operating Account created, pursuant to Ordinance No. 20131-1992 shall be renamed "PID Operating Account for Pledged Revenues." All Assessment Revenue from. any Assessment le'Tied, pursuant to Ordinance No., 2013-1992 shall be deposited into the PID Operating Account for Pledged Revenues and transferred from that account, if at all, consistent With the requirements, of Ordinance No. 2013-1992. All. Assessment Revenue from any Assessment levied onan annual "basis, shall be deposited into the PID Operating Account for Annual Assessinents and used solely for the purp�oses determined by the City Council at the time the Assessments are levied. I.6 The Facility Public Improvements all into the following categories: (1) traffic nianagernent system" (2) enhanced police services; (3) enhanced d,evelopi-nent services- (4) street and roadway impro,vements', mcluding pavenient repair and striping, maintenance of street lighting, traffic signalization and signage, and maintenance of lad Iia within public rights- of-way; (5) water well installation; (6), water well operation and maintenanCe,, (7) pond aeration; and (8) pond maintenance. The Boardwalk Public Improvements fiall into the following categories.- (1) enhanced development services; (2) street and roadway improvements, including pm,einent repair and striping, maintenance of street fi,ghting, traffic signatization and s,ignage, and rnaintenance of landscap,mg within public rights-of-way, (3) water well installation,, (4) water Nvell operation and maintenance; (5) pond aeration; and. (6) pond maintenance. The Related Development Public Improvements faIl into the following categories.- (1) enhanced The Colony PUblic hnproN,ement District No. I Service and Assessment Plan, Page 2 1775,0 1 0\45882.6 development services, (2) street and roadway improvements,, inclu&ng pavement repair and striping, maintenance of street lighting, traiiic signalization and signage, and maintenance of landscaping within public rights-of-way'; (3) water well installation; (4) water well operation and maintenance; (5) pond aerati.on,, and (6) pond maintenance, The Public Improvements are more particularly described in, the report titled PUBLK' IMPROVEMENTS REPORT, The Cit)) ol The, Colony Public kifiproveivenl Distria Nb. 1, The Colony, Texas, at March 17, 2015, prep ared by Assista rit City Manager Tod Maurina the ",Official Ruort ."), a copy of which report is attached as Exhibit B. 1.7 The costs for the Public Improvenients, are estun ated in the 011"icial Report. The total, cost of the Facility Public Improvements is estimated to be $959,247.96 (the "Facility Public Improvements, Cost") as shown on Exhibit B. The total cost of' the Boardwalk Public IrnproN,,-ements is estimated to be $369.1,143.53 (the "Boardwalk Public Improvements Cost") as, sho,�vn on Exhibit B. 'The total cost of the Related Development Public Improvements, is estitiiated to be $50,909.51 the "Related Development Public ImPro,\,7cments Cost") as shown on Exhibit B., The individual line item costs shown. in the Official Report and on Exhibit B for each category of improvements are estimates and may vary iteni-to-item so long as the cost of all Public Improveni,eits do not exceed $1,379,301-00. The Facility Public Improvements Cost, the Boardwalk Public Improvement Cost, and the Related Development Public Improiaements Cost are sometime referred to, cottectivel�,,, as the "Public Igiprovemeat s Cost." 1.8 The Act governs the process by which the Public Improvements Cost is allocated to and assessed against the Propert),,,. This process requires the preparation of an ongoing service p�lan (a "Service Plan"), an assessment plan (an "Assessment Plan"), and an assessment roll (an "Assessment Roll"'). 1.9 The Act requires the preparation, and the presentment to and review and approval by the City Council, of a Service Plan covering a period of at least fiN,,e years and defining theannual indebtedness and prQjected costs of the Public Improvements. 'rhe Service Plan. must be revIewed and updated at least annually to determine the annual budget for the Public Improvements. The Servi,ce Plan is contained in Section.... I w 10 The Act requires the Service Plan to, include an Assessment Plan. The Assessment Plan assesses the Publ,,I.c Improvements Cost against the Property on the basis of the special. 'benefits conferred upon. the Property by the Public Improvements. The Public Improvements Cost may be assessed in any manner that results in imposing equal shares of the cost on Parcels sinularl ), 7 benefited. 'rhe special bene It of the Public Improvements 'is being apportioned by this Ser '\7i ce and Assessment Plan. to the Property in the amount of the Public Improvements Cost. The Assessment Plan is contained in Section 4. I � I I The Act requires the preparation of an As,sessment Roll after the total Public Improvements Cost has been determined. The Assessment Roll must state the assessment The COIOJI�_ I'LlbliC Improve en District No. I Scrvoce and Assessi-nent Plan Page 3, 17 7 5. 0 1 0\4 58 82,6 against each Parcel determined by the method of assessment chosen. baa the City Council in the Assessment Plan. The assessment against a Parcel must be sufficient to p,a,3,;, the share of the Public Improvements Cost allocated to the Parcel and, cannot, exceed the specialbenefit conferred upon the Parcel., The Assessment Roll is contained in Section 5) - ,SECTION 2 DEFINITIONS "Act" is defined 'in Section 1. 1 "Adi-ninistralor" means any person or entity designated by the City Couil. to perform the obligations of the Administrator under this Service and, Assessment an. "Assessment" means, for a Parcel, the portion of the Public Improvements, Cost allocated to and assessed against the Parcel based, on the special benefit conferred on the Parcel by the Public Improvements. "Assessment Plan" is defined in Section 1.8. "Assessment Roll" is defined in Section 1.8. "Assessment Revenue" ma,ns the revenues received by the City from the payment of Assessments. "Boardwalk" i's defined in Section 1.2. "Boardwalk Propeqj` is defined in Section 1.2. "Bow-dwalk.-Publi.c _Imp ovements" arefined in Section 1.2. "Boardwalk Public Improvements Cost,"' i's defined "in, Section. 1.74 is defined in Section L 1. "Q,itv Council" is defined in. Section I. L "Denton CAD", is defined in Section. 1.2. "District" "is defined in Section Ll. . TI"Facilite, " is defined in Section 1.2. "Facility.,.P,ropert is defined in Section 1.2. Th C C01011V PUbliC Improvement Distrt No. I Service and Assesstnent Plan Page 4 1775.010\459816 "Facility Public lnqpr.,,ernents" are defined in Section 1.2. "Facility Pulbl'i.cIm,,pro,\�'ements Cost," 'is defined, in, Section 1.7. "Offic'alR. Uort" ' 1, s defi-ned in Section 1.6. "Parcel" an a parcel or tract of land within the District th'at 'is identified by (1) a metes and bounds description, (ii) a tax map identification number assigned by Denton CAD for �rea,l. property tax. purp�oses, or (iiia a lot and blk number shown on a final ubdivision plat recorded in the real, property records of Dento� County, Texas. "PID Operating Account for Pledged Revenues" isdefined in Section 1.5. "PID, Operating Account for Annual, Assessments" is defined "in Section 1.5. "Property" isdefined in Section L 1. "Public Improvements" are defined in Section 1.2. "Public Improvements Cost" is definedi"n Section. 1.7. "Related, Development" is defined in Section, 1.2., "Related, Developi-nent Property" is defined, 'in Section 1 .2. "Related Development P,ubt,'lc,Iments" are defined in Section 1.2. "Related Devejo,p jentPublic Improvements Cost" is defined in. Section 1.7. "Ser'vice and Assessment Plan" m.eans this City of The Colony Public Improvement District N. 1, Ser,,Tice and Assessment Plan, dated February 7, 2013, as amended and updated, ai-id this Anntial. SerN,,Ii,ce and Assessment Plan. "Service Man" 'is defined in Section 1.8. "Ser,vIcePlaDUad ate" de is fined in Section 3.1. _ "Special Benefits Report" is defined in Section 4.3. SECTION 3 SERVICE PLAN 3.1 This Section 3 ts the Service Plan for the District. This Service Plan covers a period of at least five ears beginning with calendar year 2015 and, defines the projected cost and annual The Cok,),ny Public Improvement District No., I Service and Assessment Plan Page 5 1, 775.00 0\45882.6 indebtedness for the Public Improvements. The Service Plan shall be reviewed and, updated at least, annually for the purpose of determining the annual 'budget for the Public Improvements (each, such update, a " Ser N,1,Ice PlaraU­ date"). 3.2 The prQjected Public Improvements Cost is $1,3 79,301,00,,, and for 'the next five years Such, cost is allocated as shown on Exhibit, C. ).3 The principal amount of an),, Assessiiient may be but � ot increased. SECTION 4 ASSESSMENT PLAN 4. 1 Method, of Assessment. This Section 4 'is the Assessment Plan for the District. This Assessment Plan assesses the Public Improvements Cost against,tie Property on the basis of the special, benefits conferred on the Property by the Public Improvements. The Act prrides that the Public lrnpm\rementsi Cost may be assessed equally per front fol or square foot (Nvith or Without regard to the value of improvenients constructed on the land) or in any other manner that results in imposmg eqUal shares of the cost on property similarly benefited. 4.2 Best and Highest Use. Based on: (i) the size and location of the Property' within. the corporate limits of the City- (11), the lack of public infrastructure to serve development of the Property; (iiii) the proximity of the Property 'to pLiblic. roadways and water and sewer facilities; (iv) the proximity of the Property to population and employment centers; (v) the scope and economic impact of the Facility, the Boardwalk,, and the Related DeN%-elopment on the City, Denton. County; and thenorth, Texas region- (vj) existing and projected land uses int he vicinity of the Property; (-k7ii) projected growth in the greater Dallas metropolitan area and', in particular, along the State Highway 121 corridor; and (viii) the quality of the proposed development within the Property, the City Council. has determined that-, (A), the best and highest use of the Property is for the deNl,,�elopment of the Facility, the Boardwalk, and the Related Development; i(B) achieving the best and highest use of the Property requires the Public Im rovements; (C), Without the Public p Improvements the Property will not 'be developed to its best and highest use,; (D) the establishment of the District provides an effective means of funding the Publ.ic Improvements to achieve the best and highest use for the Property without fin.anclal burden to the City, and (E) the Public ItiProv 'emet s will promote the interests of the City and confer a special benefit, on the Property. 4 @ k'_3 PublicImprovements Cost. The City Council has received, reviewed, and approved that certain VECIA L BENEFITS REPORT The City oj'The Collony Ptiblie In,7prol,,eivent District No. 7lie Colony,, Tex(,ty dated March 17, 2015, prepared by Assistant City Manager Tod Mauxina, a copy of which is attached as' Exh"Be ibif D (the 'Special Bene is Re,po.,rt"). The individual line itern costs shown in the Splecia,l Benefits Report and on Exhibit D -I for each category, of improvements are estimates and may vary itern-to-itern so long as the Public In.1,provements Cost 1"he C`olan,y Public finprovenient District No. I Service and Assessment Plan Page 6 1775.010\458816 does not exceed $1,379,301.00. 4.4 Adjustment ofAssessments. The Assessments described in this Article IV are based on estimates of the Public Improv - sets Cost as set forth in, the Official Report. If the actual cost of the Public Improvements is less than the estimates, the Assessmen.ts shall be reduced as determined by the Adm�inistrator and approved by the City Council in a Serx,ice Plan Update. 4.,5 Subdivision- Change to Tax Ext. 4. 5.1 U -Pon Subdivision. If the Property is subdi:vided., the, Assessment against the property will 'be reallocated among 'the subdivided Parcels on. a per -acre basis as determined, by the Administrator and reflected in a Service Plan Update afpr ovedfly the its Council after a, public, hearing for NAThich notice addressed to "PropertY Owner" has 'been ina,iled], regular mail, to the current address of the owner of the property 'being subdivided, as reflected on the tax rolls. 4.5 ,.2 Upon Becgmin-,y Tax Exem, t. If any portion, of 'the Pro erty becomes exempt I p from the payment of ad valorem taxes, the owner of such portion shall pay to the City the unpai.d pri,ncipal amount of the Assessment allocated (on a per -acre basis) to such. portion of the Prop erte . v 4.6 Assessment Payrnents. The Assessment against the Property shall be due and payable to the City within 30 daYs of the levy of Assess the Assment. P'ID Operating Account. Assessment Revenue from. the collectwn of any Assessment against the Property will be deposited by the City into the PID Operating Account for Annual Assessments. 4.8 Reduction of Assessment Against the Proert,,. 'rhe Assessment against the Property T _A (and the corresponding assessment lien) shall be reduced by the sum of allamounts bywhich the Public Improvement Costs are reduced. Security for Payment. All payments, due in accordance with this Service andAssessment Plan shall be treated the same with respect to the liens created to secure Payment and the r1aht's, of the City, includIng foreclosure, in the event of delinquencies. Any foreclosure sale of'a Parcel fornonpayment of any sucli amounts shall be su1 e to a continuing lien for the remaining, ur id amounts in, accordance with state law, All assessment liens created pursuant to Ordinance No. 20 13 -1.992 are sup rior to any lien created hereb).T. ,4.10 Release of Lien. When an Assessment has been paid in full, the Administrator shall, in re full payment notm the Ci:tN and the City shall execute a release,, cordable form, evIdencing f of the Assessment and the unconditional release the lien. securing payn-ient of the Assessment. All releases s,hill. be reflected in a Service Plan Update. The Colony Public Itnprovement District No. I Se,rvice and .,kssessnient Plan Page 7 1775,010\ 982.6 4.11 F in d L*n ings, an gi. and Determinations. The find" , d determinations by the City Council set forth in this Ser),�ice and Assessment Plan are used on: (1) the Official Report: (ii) the Special Benefits Report; (iii) evidence and testimony, p�resented to the City Council; and (,iv) information .m ormation. contained in ade available to the City Council. T lie City Council has relied on the inf the Official Report, Special. Benefits Report, evidence, and, testi,,mony in the preparation and appro'N,,al of this Service and Assessment Plan and the allocation of the Public Improvements Cost -to the Property. SUCII findings and determin at "ions represent the discretionar 'y exercise by the City Council of its legislative and governmental authority and power, and such. findings and determinations areconclusive and. binding on the c.err ent, and, future owners, of the Property. S ASSESSMENT ROLL This Section 5 is the Assessment Roll for the District. The Assessment Roll is set forth on Exhiblit E and includes each Parcel against which an. assessment should be levied in. the amount sho"7n on 'Exhibit E which is -the portion of the Public Improvements Cost that the City Council has determined, confers a special benefit on the Property. SECTION'6 ADDITIONAL PROVISIONS 6.1 Severability. The proN,"isions of this Servi.ce andAssessment Plan are intended to be 'the event proi, ra ble. -ision of this Service and Assessment Plan, or tl-ie application seveIn any thereof to any person, or circumstance, is held or determined to be inva,lid, illegal, or unentorceable, and if such. invalidity, unenforceability, or illegality does not cause substantial deviation from the underlyll.ng intent of the City Council as expressed in this Service and Assessment Plan., then such proN,,ision shall be deemed severed from this Service and Assessment Plan with respect to such p�erson, entity, or circumstance without invalidating the remainder of this SerN� 7,ice and Assessment Plan or the application of such provision to other persons, entities, or circumstances. �n U./- Exhibits., The following exhibits are part ofthis Service and Assessment Plan - Exhibit A Legal Description of the Property Exhibit A- 1, Depi,ction of the Property EXhibit B Official Report - Public Impr:,ements Cost Exhibit C Service Plan- Five -Year Projection of Public Improvements Costs Exhibit D Special Benefits Report Exhibit D- I Facilityr Public Improvements Cost — Special Benefit, An lysis Exhibit E Assessment Roll The Colony [Iubl ic I nipro� ement District No. I Service and Asses&nwnt Plan Page 8 Exhibit A Legal- Description of the Property (439.12 Acre Being a 439.12 acre tract o.[ land situated, in the B.B.B & C.R.R. Survey, Abstract No., 1731) B.B.B. & C. Sur Nl7ey, Abstract No. 174, Thomas A.. West Survey, Abstract No. 1344, and the M. .T,. Hallmark Survey, Abstract No. 570, Den -ton County, Texas, and bei,ng all of a tract of land conveyed by deed to 1, 21 Acquisition. Company, UC., as recorded in. Instrument N . 20 11 - 114773 � 2011-121444., and 20 1, 1, -1 12195 , Deed Records, Denton County, Texas, and a portin of Plano Pcarkway and a portion of Burtington Northern Railroad tract, and being more parti,cularly described as follows: I BEGINNING at a found T , monument, said point being the northNNI°est corner of said 121 Acquisition Company-, 1,LC tract and being, in the south right­lway line of State Highway '121 (having avari.able width THEN `E North 6_3'32'06," East., along said, out right-of-way line, a distance of 13 )0.,52 feetto a point for corner; 'I"HENCE North 60'2233" East, continuing along said south right-of-way line, a d�istan.ce of 80.86 feet to a point for corner; THENCE South 29013"0.311 East, continuing along said south right--of-way line,, a distance of 50.00 feet to a point for corner; THENCE North 6,00471-38" East'. continuing to said south right-of-way line, a distance of 219.64 feet to a point for corner, said point being in the west right-of-way line of Plano Parkway 1.00 It R.0.. W. THENCE North 50053"35" East,, lea�„ing said south right-of-way line, and leaving said, west right-of-way line.., a di t .n 1, 00.00 feet to a point for corner, dor the beginning of a targe .t curve to the right having a, radius of 950.00 feet and a central angle of 1'2654” and a, long chord welch bears North 38'22'58" West, 24.01 feet, said point, being, in the east right-of- way, line of said Plano Parkway; THENCE along said, east right-of-way line, and along, said non -tangent curve to the right an arc distance of 24.01, feet to a point fior corner, said point being the most so-Litherly point of a, corner­ cl1P of"' the tritersecti,on of said, east right-of-way line of is Parkwa),r and the south. right-of- way line of said State highway 1 I,; 0 THENCE, North 08,"46"31" East, along said corner -clip, a distance of 26.03 feet to a point 'for corner., said, o,'nt being in the south right-of-way fine of said State highNN,ray 121 Exhibit A to The Colony SAP — Description of the Property Page I F775.010\458816 ExhiA Legal Description of the Propert 439,12.Acres THENCE North 60'47'38" East', along said south right-of-way line, a distance of 203.71 feet to a point Amor corner; THENCE North. 58017'36" East,7 continuing along said south right-of-way line, a distance of' 2 5 ) 2. 1. 1 feet to a point for corner, - THENCE North 55047,40"' East continuing along said south right-of-way line a distance of' 1' 5.11 feet to a point for cornerl- 1 THENCE North 58'1742" East, continuing along said south right-of-way line, a distance of '248.62 'feet to a Point for corner; THENCE North 60'4T-38," East, continuing along said south. right-of-way line, a distance of 263.85 feet to a point for corner; THENCE North 76'30,'51" East, continuing along said south right-of-way lire, l a distance of 92.27 et to a point for corner'; THENCE North 6.)'56' .2" East, con.ti,ming along said south. right-of-way line, a distance of 1 OO AO feet to a intforcorner'; '1 E1 North 64'1 Y39" East, continuing along said south right-of-way line,, a distance of 100. 18 feet to a point forcorner.; 7"HENCE North 60'1,6'36" East continuing alomy, said south right-of-way line, a distance of 9.8 8 fe et to a Po * rit for corner, THENCE South 74'12'01" East, conti. tng along said south right-of-way line,, a, distance of 70.70 feet to a, point for comen 'r'HENCE North 60'47'38" "East', contin.uing along said south rig ht�-of-way line, a distance of 64. 12 feet to a point for cornen THENCE North 1.5"47'17" East, continuing along said south right-of-way, linel a ai,.stance of 73.27 feet tint,for corner; THENCE North 5904'32" East', continuing along said, south right-of-way line, a distance of 94.251 feet to a point for corner-, TH ENCE North 55'39'04" East,, continuing along said a istance south right-of-Nvay- line", d* of ExhibitA to Th Colony SAP — Description ofthe Property Page 2 1775.0 1 0\45882.6 .Ed bit A Legal Description of't.e .fro pertv (439.12 Acr 1010.40 feet to a point for cornier.; THENCE North, 473754" East, continuing along said south. ri'ght-of )AT ay tme, a distance of 114.18 feet to a point for comen I 'THENCE North 60'4738" East, conti.nuing along said south right -of-wzay line, a distance of 3 8 00. 00 feet to a point for corner; THENCE rt h 65'2010" East, continuing along said south right- ot-way line, a distance of 189.4 1. feet to ap i tIcorner; THENCE North 61,'56'23" East, continuing along said south right-of-way line, a distance of 100.02 feet 'to a point for corner; THENCE North. 63'39'23" East. continuing along said south right-of-way line, a distance of 100,1 feet to a point for corner; THENCE North 64'47,53" East, continuing along, said south right-of-way line, a distance of 100.24 feet to a point for corner,; "I"HENCE North 66"130'16" East, continuing a1 ng said south right-of-way line, a distance of 201,00.feet to a oint for corner; p .1� TIJENCE North 65'56'12" East,, continuing along said south right -of -,way line, a distance of 100.40 feet to a point forcorner; 'THENCE North 66'30'16," East, continuing along said south right-of-way line, a distance of' 100, 50 feet to a point f -or clorner; I EN'E North 6305'04" East, contin umg along said south right-of-way line, a distance of 100.08 feet, to a po int fog c orner; ,r FHENCE North 649339" East, continLting along said south rlght--of-way line, a distance of 100. 18 feet to a point for corner.; T HENCE rt'10 5 27 st Noh 8-) 0'Ea', continuing along said south rig ht-of-�moray lin.e a distance of 69.58 feet to a point for corner; THENCE North. 60'39''18"' East, continuing along said south right-of-vvay line,, a distance of 33.81. feet to a point for corner, said point b i "i the west right-of-way line of Burlington ein.g it I Exhibit A t(,) The Colony SAP — Description ofthe Property Page 3 177 5. 0, 1 O \4 5 88 2.6 Exhibit A ql_ Description of the Propertv (439.1.2 acres Northern Railroad (having a variable width R.O.W.); THE 11) NCE North 60'38'52" East leaving said west right- of -way line, a distance of 107.30 feet to a, point for corner, said point bemg in the east, right -of." -way line of said Burlington Northern Railroad-, THENCE North 6,0"4558"' East, leaving said east right-of-way line, confinuing along said. south right-of-way line of "State Highway 121, a distance of 254.,35 feet to a pomt for corner., THENCE North 63'19'02" East, continuing along said south right-of-way fine, a distance of 58,5.96 feet „t a pint for corne'r; THENCE 'North 60'52'09" East, contmumg along said south right-of-way line, a, distance of 369.37 feet to a point for corner, said point being in, the west, right-of-,v\I-ay line of West Spring Greek Parkway (having a 1, 60 ft R.O.W.),; THENCE South 29'2443" East, leaving said soL"ith right-of-way fine, and along saic'i- west fight - of -way line,, a distance of 265.52 feet to a point for corner, 1',`or the begi.nni,ng of a non -tangent curve to the right having a radius of 970.00 feet and a central angle of 29'1342", and a long 489.48 feet - chord which bears South 1 4'5 Yl, 3 "' East', THENCE continuing along said west right-of-way line,, and along said non-tangen,t curve to the right an. arc di''.stance of 4 94.8 3 feet to:a point for corner, - THENCE SOUth, 00'22'42" East,7 continuing along said west right-of-�way line, a distance of 476.,17 feet to a point for corner; THE South. 00'23'335" East, continuing along said west right -of --way Inie, a distance of 864.92 feet to a point for rnersaid point being, in the north line of Kings Ridge Addition., Phase Three as recorded in, Cabinet X, Page 450, Plat Records, Denton Count y','Texas- line md long sal THENCE South 89'401'20," West, lea:ving said west right-of-wa� a �'d north line,, a d1stance of 1199.93 feet to a point f"6r corner, said point being in the, east right-of-way line of said Burlington Northern Railroad, THENCE North 87'39'44" West, leavmg said north line, leaving said east right-of-way fine, a distance of 101 .16 feet to a point f corner, fir the beginning of a non -tangent curve to the right havitig a radius of 3703.75 'feet and a central angle of 3'44'19" and a long chord which bears South 0401212511 West, 1-62 feet, said. point being in the west right-of-way inof said Exhibit At The Colony SAII — Description ofthe Property Page 4 Exhibit A Legal Descri.,p,tnof the P,roperty (439.12 A, Burlington Northern Railroad; THENCE along said east right-of-way 1.111e, and along said non-tancurve to the right an are distance of 241.67 feet to a point for comen THENCE South 06'04'35" West continuing, along said east right line, a distance of 2.524.64 deet to a point for corner; THENCE North 83'1 TOO" West', continuing along said east right-of-way line, a distance of 'k 1 0 1910.16 feet to a pointror corner.; o a �ne, a of THENCE South 00" ,51'51"' Eastalo , continuing ng said east right, f-- Nv 7 lidistance 970.1 feet to a point for corner; THENCE South. 89'03'50" West, continuing along said east right-of-way line, a, distance of 3 1.06 feet to a point for corner; THENCE South 01`14'37 East, continuing along said east right -of-way line, a distance of 447-78 feet t6a point for cor,.ti.er; THENCE North 870622" West , leaving sai I d east right-of-way line, a distance of 1240.48 feet to a point for corner, for the beginning of'a non -tangent curve to the left having a radius of 11.3 0.00 feet and a central angle of'103'16`58", and a long chord wh.ich bears North. 38'4334" 'West, 1. 772.16 feet said point being in. the east right-of-way line of said Mano Parkway - THENCE alongsaid, east right-of-way line,' and along said non -tangent curve to the left an, arc distance of 20,36.97 feet to a point for corner; THENCE South 890,38'0,5" 'West, continuing along said east right-of-way line, a distance of 647.23 feet to a, point for corner, for the beginning of a, non. -tangent curve to 'the right having a radius of 950.00 feet and a central angle of 40'05'36"' and a long chord which bears North 19'29" 29 . �Vest, 651feet. I THENCE continuing along said east rightf-way line, and along said non-tangen't cun,, e to the right ,ii. arc distance of'664.77 fea point fir corner, for the begitimi'lig of a reverse curve to the left having a rad.l. us of 1050.00 feet and a central angle of 40' 15,06 " and a Iongchord which bears North 70",25'0 1 " West, 722.57 feet; THENCE contimlin.g along said east right-of-way line, and to said curve to the left an, arc Exhibit A to `The Colony SAP — Description ofthe Property Page 5, 17 755 - 01 \45 8 82, 6, Exhibit A Legal. Descrip,tion of the Property (4,3 9.12 A distance of 737.65 feet to a point far corner'; THENCE South 89'31'25" West, continuing, along said east right-of-way line a distance of 623.8_3' feet to a point 1.'or corner, for the beginning of a tangent cve to the right havmg a radius of 950.00 feet, a central an.,gle of 0'48'07, and a on chord which bears South 89'55"28" West, 1-3.21, 'feet; THENCE continuing to said east right-o-f-waY line, along said curve to the right, an are distance of 13 ).21 feet to a point for corner'; THENCE Sot.tth 00'19'22" West', leaving said east right-of-way line, a distance of 100.00 feet to a, point for corner, said point being in the west right-of-way line of said. Plano Parkway - THENCE South 89058"40," West, lea-ving said west right-of-way ling,, a, distance of 1210,45 feet to a point for corner-, THENCE North. 00'2,5'18" West a distance of 226.47 feet to the POINT OF BEGINNING and CONTAINING 19J28,279 square feet, 439.12 acres of land, more or less. 13xlvibit A toThe Colony SAP — Description of the Property Page 6 1775.010458816 ibi Form of Published Notice NOTICE OF PUBLIC HEARING ON ASSESSMENT ORDINANCE CITY OF THE COLONY PUBLIC IMPROVEMENT ENT DISTRICT NO. 1 DATE TIME AND PLACE OF THE PUBLIC HEADING. Notice is hereby given that the City Council of the City of The Colony, Texas (the "City Council" and the "City"), will conduct a public hearing: i on Tuesday, May 5, 2015, at 6:30 p.m. at City Hall, located at 6800 Main Street, The Colony, Texas,(ii) for the purpose of considering an ordinance that will levy special assessments against property within the City of Th Colony Public Improvement District No. 1 (the "District"). GENERAL NATUI E OF THE IMPROVEMENTS. The general nature of the public improvements being undertaken and financed by the District for the special benefit of the property within the District consist of the following: (1) traffic management system; 2 enhanced police services; 3 enhanced development services; 4street and roadway improvements; water well installation; err well operation and maintenance; pond aeration; and pond maintenance. COST OF THE IMPROVEMENT& The estimated Cost of the public improvements that is proposed to be assessed against the properties within the District for 2015 i $1X37%301,00. BOUNDARIES F THE ASSESSMENT DISTRICT. The District is approximately 4 39.20 contiguous acres within the corporate limits of the City south of and adjacent to the Saar Rayburn Toll ray (State Highway 121), north of and adjacent to Plano Parkway, and west of the Burlington Northern Railroad. PUBLIC HEARING CENT. Written or oral objections on the proposed assessment within the District shall be considered by the City Council at the public hearing.