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HomeMy WebLinkAbout2020 0204CITY OF THE COLONY CITY COUNCIL AGENDA TUESDAY, FEBRUARY 4, 2020 6:30 PM TO ALL INTERESTED PERSONS Notice is hereby given of a REGULAR SESSION of the CITY COUNCIL of the City of The Colony, Texas to be held at 6:30 PM on TUESDAY, FEBRUARY 4, 2020 at CITY HALL, 6800 MAIN ST., THE COLONY, TX, at which time the following items will be addressed: 1 ROUTINE ANNOUNCEMENTS, RECOGNITIONS AND PROCLAMATIONS 1.1 Call to Order 1.2 Invocation 1.3 Pledge of Allegiance to the United States Flag 1.4 Salute to the Texas Flag 1.5 Announcement acknowledging the City of The Colony Employee of the Quarter. (Wallican) 1.6 Announcement acknowledging the opening of Firehouse #4 (Thompson) 1.7 Items of Community Interest 1.8 Receive a presentation from the Library regarding current and upcoming programs, events, and service improvements. (Margolis) 2 CITIZEN INPUT This portion of the meeting is to allow up to five (5) minutes per speaker with a maximum of thirty (30) minutes for items not posted on the current agenda. The council may not discuss these items, but may respond with factual data or policy information, or place the item on a future agenda. Those wishing to speak shall submit a Request Form to the City Secretary. 3 WORK SESSION The Work Session is for the purpose of exchanging information regarding public business or policy. No action is taken on Work Session items. Citizen input will not be heard during this portion of the agenda. 3.1 Receive a presentation from Economic Development regarding aerial marketing videos. (Samford) 3.2 Council to provide direction to staff regarding future agenda items. (Council) 4 CONSENT AGENDA The Consent Agenda contains items which are routine in nature and will be acted upon in one motion. Items may be removed from this agenda for separate discussion by a Council member. 1 REGULAR SESSION of the CITY COUNCIL Agenda Meeting Date: 02/04/2020 Page - 2 4.1 Consider approving City Council Regular Session meeting minutes for January 21, 2020. (Stewart) 4.2 Consider approving a resolution authorizing the City Manager to execute a Pre-Development Services Agreement with Matthews Southwest Hospitality, LLC, regarding the development of a mixed-use, convention center hotel project within the City. (T. Maurina) 4.3 Consider approving a resolution authorizing the City Manager to accept a request from Stewart Peninsula Golf Course for a reduction in their 2020 lease fees to allow for investment of those fees into infrastructure improvements at the golf course. (Nelson) 5 REGULAR AGENDA ITEMS 5.1 Conduct a public hearing and discuss and consider approving an ordinance amending Ordinance No. 2013-2034 concerning Tax Increment Reinvestment Zone Number Two, City of The Colony, Texas, by amending and changing the City Tax Increment from seventy percent (70%) to forty-five percent (45%). (Miller) 5.2 Conduct a public hearing and discuss and consider approving an ordinance amending the Final Project and Finance Plan for Tax Increment Reinvestment Zone Number Two, City of The Colony, Texas, by decreasing the City Tax Increment from seventy percent (70%) to forty-five percent (45%). (Miller) 5.3 Discuss and consider approving a resolution approving a First Amendment to Reimbursement Agreement for Tax Increment Reinvestment Zone Number Two, City of The Colony, Texas, with TP TIF, LLC, by changing the City Tax Increment from seventy percent (70%) to forty-five percent (45%). (Miller) 5.4 Discuss and consider approving a resolution approving a Third Amendment to the Developer’s Agreement between the City of The Colony and Wynnwood Peninsula Partners, L.P.. (Miller) 5.5 Discuss and consider approving a resolution approving a Fifth Amendment to the Developer’s Agreement between the City of The Colony, Tribute Acquisitions, L.P., and Wynnwood Peninsula, Ltd. (Miller) 5.6 Discuss and consider approving a resolution authorizing the City Manager to execute a publication of a Notice of Intention to issue Certificates of Obligation, including the adoption of a resolution pertaining thereto. (Miller) 6 EXECUTIVE SESSION 6.1 A. Council shall convene into a closed executive session pursuant to Section 551.071 of the Texas Government Code to seek legal advice from the city attorney regarding pending or contemplated litigation - Appeal of Brazos Electric Power Cooperative, Inc., PUC Docket No. 45175 and City of The Colony, Texas v. Brazos Electric Power Cooperative, Inc. matter, Cause No. 16-06424-16. B. Council shall convene into a closed executive session pursuant to Section 551.087 of the Texas Government Code regarding commercial or financial information the city has received from a business prospect(s), and to deliberate the offer of a financial or other incentive to a business prospect(s). 2 REGULAR SESSION of the CITY COUNCIL Agenda Meeting Date: 02/04/2020 Page - 3 7 EXECUTIVE SESSION ACTION 7.1 A. Any action as a result of executive session regarding pending or contemplated litigation - Appeal of Brazos Electric Power Cooperative, Inc., PUC Docket No. 45175 and City of The Colony, Texas v. Brazos Electric Power Cooperative, Inc. matter, Cause No. 16-06424-16. B. Any action as a result of executive session regarding commercial or financial information the city has received from a business prospect(s). EXECUTIVE SESSION NOTICE Pursuant to the Texas Open Meeting Act, Government Code Chapter 551 one or more of the above items may be considered in executive session closed to the public, including but not limited to consultation with attorney pursuant to Texas Government Code Section 551.071 arising out of the attorney’s ethical duty to advise the city concerning legal issues arising from an agenda item. Any decision held on such matter will be taken or conducted in open session following the conclusion of the executive session. ADJOURNMENT Persons with disabilities who plan to attend this meeting who may need auxiliary aids such as interpreters for persons who are deaf or hearing impaired, readers or, large print are requested to contact the City Secretary’s Office, at 972-624-3105 at least two (2) working days prior to the meeting so that appropriate arrangements can be made. CERTIFICATION I hereby certify that above notice of meeting was posted outside the front door of City Hall by 5:00 p.m. on the ___ day of __________, 2017. ____________________________________ Tina Stewart, TRMC, City Secretary 3 Agenda Item No:1.5 CITY COUNCIL Agenda Item Report Meeting Date: February 4, 2020 Submitted by: Tina Stewart Submitting Department: Human Resources Item Type: Announcement Agenda Section: Subject: Announcement acknowledging the City of The Colony Employee of the Quarter. (Wallican) Suggested Action: Attachments: 4 Agenda Item No:1.6 CITY COUNCIL Agenda Item Report Meeting Date: February 4, 2020 Submitted by: Tina Stewart Submitting Department: Fire Item Type: Announcement Agenda Section: Subject: Announcement acknowledging the opening of Firehouse #4 (Thompson) Suggested Action: Attachments: 5 Agenda Item No:1.8 CITY COUNCIL Agenda Item Report Meeting Date: February 4, 2020 Submitted by: Kate Margolis Submitting Department: Library Item Type: Announcement Agenda Section: Subject: Receive a presentation from the Library regarding current and upcoming programs, events, and service improvements. (Margolis) Suggested Action: Attachments: 6 Agenda Item No:3.1 CITY COUNCIL Agenda Item Report Meeting Date: February 4, 2020 Submitted by: Keri Samford Submitting Department: Economic Development Item Type: Presentation Agenda Section: Subject: Receive a presentation from Economic Development regarding aerial marketing videos. (Samford) Suggested Action: Attachments: 7 Agenda Item No:3.2 CITY COUNCIL Agenda Item Report Meeting Date: February 4, 2020 Submitted by: Tina Stewart Submitting Department: City Secretary Item Type: Discussion Agenda Section: Subject: Council to provide direction to staff regarding future agenda items. (Council) Suggested Action: Attachments: 8 Agenda Item No:4.1 CITY COUNCIL Agenda Item Report Meeting Date: February 4, 2020 Submitted by: Tina Stewart Submitting Department: City Secretary Item Type: Minutes Agenda Section: Subject: Consider approving City Council Regular Session meeting minutes for January 21, 2020. (Stewart) Suggested Action: Attachments: January 21, 2020 DRAFT Minutes.docx 9 1 These items are strictly public service announcements. Expressions of thanks, congratulations or condolences; information regarding holiday schedules; honorary recognition of city officials, employees or other citizens; reminders about upcoming events sponsored by the City or other entity that are scheduled to be attended by a city official or city employee. No action will be taken and no direction will be given regarding these items. MINUTES OF THE CITY COUNCIL REGULAR SESSION HELD ON JANUARY 21, 2020 The Regular Session of the City Council of the City of The Colony, Texas, was called to order at 6:30 p.m. on the 21 st day of January, 2020, at City Hall, 6800 Main Street, The Colony, Texas, with the following roll call: Joe McCourry, Mayor Kirk Mikulec, Councilmember Richard Boyer, Deputy Mayor Pro Tem Brian Wade, Councilmember David Terre, Mayor Pro Tem Perry Schrag, Councilmember Joel Marks, Councilmember Present Present Present Present Present Present Present And with 7 council members present a quorum was established and the following items were addressed: 1.0 ROUTINE ANNOUNCEMENTS, RECOGNITIONS and PROCLAMATIONS 1.1 Call to Order Mayor McCourry called the meeting to order at 6:30 p.m. 1.2 Invocation Pastor Mike Elias with Good Shepard Lutheran Church delivered the invocation. 1.3 Pledge of Allegiance to the United States Flag The Pledge of Allegiance to the United States Flag was recited. 1.4 Salute to the Texas Flag Salute to the Texas Flag was recited. 1.5 Items of Community Interest 1.5.1 Receive presentation from Parks and Recreation regarding upcoming events and activities. Community Services Director, Pam Nelson, provided upcoming events and activities to the Council. Councilman Boyer noted the upcoming Primary Election on March 3, 2020. The deadline for registration is February 2, 2020, thirty days prior to the election. Councilman Terre noted the upcoming Soup-N- Bowl annual event on January 25, 2020. The funds raised will benefit the local food pantry. 10 City Council – Regular Meeting Agenda January 21, 2020 Page| 2 Councilman Schrag noted the upcoming Winter Field day for the Local Radio Club. It will take place January 25 - 26 in the parking lot of the Five Star Complex. 2.0 CITIZEN INPUT 3.0 WORK SESSION 3.1 Receive a presentation from the city's Communications Department showcasing its newly completed online version of the city's New Resident Packet. Communications Manager, Blaine Crimmins, presented the new downloadable "New Resident Packet" to Council. Council provided discussion on this item. 3.2 Discuss reducing or waving animal adoption fees through The Colony Animal Shelter for active duty military personnel and veterans. Director of Community Relations and Programming, Joe Perez, presented the item to Council. Council provided discussion on this item and directed staff to move forward with the necessary information for Council approval. 3.3 Discuss and provide direction to staff regarding a tree trimming contract for citizens. **This item was pulled from the agenda with no discussion** 3.4 Discuss the use of speed bumps in The Colony. **This item was pulled from the agenda with no discussion** 3.5 Council to provide direction to staff regarding future agenda items. None 4.0 CONSENT AGENDA Motion to approve all items from the Consent Agenda- Marks; second by Mikulec, motion carried with all ayes. 4.1 Consider approving City Council Regular Session meeting minutes for January 7, 2020. 4.2 Consider approving Council expenditures for the month of November 2019. 5.0 REGULAR AGENDA ITEMS 5.1 Conduct a public hearing, discuss, and consider an ordinance regarding text amendments to the Comprehensive Zoning Ordinance Appendix A, Section 10 11 City Council – Regular Meeting Agenda January 21, 2020 Page| 3 [Use of Land and Buildings], Subsection 10-100 entitled "Schedule of Uses by District", by amending the use chart for the uses Pet Shop; Kennels, Indoor; and Kennels, Outdoor. Director of Community Relations and Programming, Joe Perez, presented the item to Council. Mr. Perez noted this item was presented to Council during the November 5, 2019 meeting amid concerns received from the animal rescue and adoption community regarding the potential allowance of retail establishments within the City offering animals for sale originating from commercial breeders as a function of the establishment. Staff reviewed the zoning ordinance and with Council direction to staff to bring forth an option or options in an ordinance amendment that would either limit, prohibit, or place conditions through an SUP upon these establishment types. The Review Committee recommends approval of the proposed zoning ordinance. On January 14, 2020, the Planning and Zoning Commission voted 7-0 to recommend approval. The public hearing opened at 6:56 p.m. Two individuals spoke in support on this item. Shannon Greer, 4624 Coney Island Drive, Frisco, TX 75036, with Friends of The Colony Animal Services, and Lisa Klosterman, 6428 Wexley Lane. There being no other speakers the public hearing closed at 6:58 p.m. Council provided discussion on this item. Motion to approve- Marks; second by Wade, motion carried with all ayes. ORDINANCE NO. 2020-2387 5.2 Discuss and consider approving a resolution authorizing the City Manager to execute a purchase order to Sam Pack's Five Star Ford of Carrollton in the amount of $127,367.00 for the purchase of additional vehicles for the Water Distribution and Public Works divisions of Public Services. Director of Public Services, Evan Groeschel, presented the item to Council. Council provided discussion on this item. Motion to approve- Marks; second by Terre, motion carried with all ayes. RESOLUTION NO. 2020-002 5.3 Discuss and consider approving a resolution authorizing the City Manager to execute a Professional Services Agreement with BRS Architects to do a feasibility study for a new recreation center at Five Star East, with funding provided by the Community Development Corporation. Community Services Director, Pam Nelson, presented the item to Council. 12 City Council – Regular Meeting Agenda January 21, 2020 Page| 4 Council provided discussion on this item and directed staff to set up a joint meeting between City Council and the Community Development Corporation Board in June or July 2020 to discuss proposed future projects. Councilman Boyer stepped out at 7:20 p.m. and returned at 7:21 p.m. Motion to approve the amendment to identify the proposed design schedule as Exhibit B.- Schrag; second by Mikulec, motion carried with all ayes. RESOLUTION NO. 2020-003 5.4 Discuss and consider a resolution appointing a representative and alternate to the Denton County Transportation Authority Board of Directors. Mayor explained the stipulation, within the agreement with DCTA that comes with having a none voting seat vacant for longer than six months, and forfeiting the right to be on the board forever. Council provided discussion on this item. Motion to approve City Manager, Troy Powell, the right to assign a representative and alternate to the DCTA Board of Directors- Schrag; second by Mikulec, motion carried with all ayes. RESOLUTION NO. 2020-004 Executive Session was convened at 7:39 p.m. 6.0 EXECUTIVE SESSION 6.1 A. Council shall convene into a closed executive session pursuant to Section 551.071 of the Texas Government Code to seek legal advice from the city attorney regarding pending or contemplated litigation - Appeal of Brazos Electric Power Cooperative, Inc., PUC Docket No. 45175 and City of The Colony, Texas v. Brazos Electric Power Cooperative, Inc. matter, Cause No. 16-06424-16. B. Council shall convene into a closed executive session pursuant to Section 551.087 of the Texas Government Code regarding commercial or financial information the city has received from a business prospect(s), and to deliberate the offer of a financial or other incentive to a business prospect(s). C. Council shall convene into a closed executive session pursuant to Section 551.071 of the Texas Government Code to seek legal advice from the city attorney regarding pending or contemplated litigation – Pamela Rogers, et. al. v. City of The Colony, Texas, et. al., Cause No. 4:19-cv-00919, United States District Court, Eastern District of Texas, Sherman Division. 13 City Council – Regular Meeting Agenda January 21, 2020 Page| 5 Regular Session was reconvened at 8:37 p.m. 7.0 EXECUTIVE SESSION ACTION 7.1 A. Any action as a result of executive session regarding pending or contemplated litigation - Appeal of Brazos Electric Power Cooperative, Inc., PUC Docket No. 45175 and City of The Colony, Texas v. Brazos Electric Power Cooperative, Inc. matter, Cause No. 16-06424-16. No Action B. Any action as a result of executive session regarding commercial or financial information the city has received from a business prospect(s). No Action C. Any action as a result of executive session regarding pending or contemplated litigation – Pamela Rogers, et. al. v. City of The Colony, Texas, et. al., Cause No. 4:19-cv-00919, United States District Court, Eastern District of Texas, Sherman Division. No Action ADJOURNMENT With there being no further business to discuss the meeting was adjourned at 8:37 p.m. APPROVED: ________________________________ Joe McCourry, Mayor City of The Colony ATTEST: _______________________________ Tina Stewart, TRMC City Secretary 14 Agenda Item No:4.2 CITY COUNCIL Agenda Item Report Meeting Date: February 4, 2020 Submitted by: Tod Maurina Submitting Department: Finance Item Type: Resolution Agenda Section: Subject: Consider approving a resolution authorizing the City Manager to execute a Pre-Development Services Agreement with Matthews Southwest Hospitality, LLC, regarding the development of a mixed-use, convention center hotel project within the City. (T. Maurina) Suggested Action: Agreement is with the legal firm Norton Rose Fulbright for the preparation and review of documents and approvals necessary for the issue of obligations for any qualified project under H.B. No. 4347. Attachments: The Colony Engagement Letter.pdf Res 2020-xxx Hotel and Convention Ctr.docx 15 16 17 18 19 20 21 22 23 CITY OF THE COLONY, TEXAS RESOLUTION NO. 2020 - ____ A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF THE COLONY, TEXAS, AUTHORIZING THE CITY MANAGER TO EXECUTE A PRE-DEVELOPMENT SERVICES AGREEMENT WITH MATTHEWS SOUTHWEST HOSPITALITY, LLC, REGARDING THE DEVELOPMENT OF A MIXED-USE CONVENTION CENTER HOTEL PROJECT LOCATED WITHIN THE CITY OF THE COLONY, TEXAS; AND PROVIDING AN IMMEDIATE EFFECTIVE DATE NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF THE COLONY, TEXAS, THAT: Section 1.The findings set forth above are incorporated into the body of this Resolution as if fully set forth herein. Section 2.The City Council of the City of The Colony, Texas, has duly reviewed and considered the Pre-Development Services Agreement by and between the City of The Colony, Texas, and Matthews Southwest Hospitality, LLC, regarding the development of a mixed-use convention center hotel project to be located within the City of The Colony, Texas. Section 3.The City Council of the City of The Colony, Texas, does hereby approve and authorizes the City Manager to execute the Pre-Development Services Agreement by and between the City of The Colony, Texas, and Matthews Southwest Hospitality, LLC, attached hereto as Exhibit A, and is incorporated herein for all purposes. Section 4.This Resolution shall take effect immediately from and after its passage. PASSED AND APPROVED by the City Council of the City of The Colony, Texas this 4th day of February, 2020. _____________________________ Joe McCourry, Mayor City of The Colony, Texas ATTEST: Tina Stewart, TRMC, City Secretary APPROVED AS TO FORM: Jeffrey L. Moore, City Attorney 24 Exhibit A Pre-Development Services Agreement 25 Agenda Item No:4.3 CITY COUNCIL Agenda Item Report Meeting Date: February 4, 2020 Submitted by: Tina Stewart Submitting Department: Parks & Recreation Item Type: Resolution Agenda Section: Subject: Consider approving a resolution authorizing the City Manager to accept a request from Stewart Peninsula Golf Course for a reduction in their 2020 lease fees to allow for investment of those fees into infrastructure improvements at the golf course. (Nelson) Suggested Action: Attachments: SPGC Lease waiver request - 2020.pdf Res 2020-xxx Stewart Peninsula Golf Course Annual Fee Reduction.doc 26 27 28 29 30 CITY OF THE COLONY, TEXAS RESOLUTION NO. 2020 - _____ A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF THE COLONY, TEXAS, AUTHORIZING THE CITY MANAGER TO EXECUTE A GRANT REQUEST FROM STEWART PENINSULA GOLF COURSE OF RENT REDUCTION FOR THEIR 2020 ANNUAL LEASE PAYMENT DUE TO EXTENSIVE INFRASTRUCTURE REPAIRS; AND PROVIDING FOR AN EFFECTIVE DATE WHEREAS, The City of The Colony desires to grant a request from Stewart Peninsula Golf Course to reduce up to $10,000 of their 2020 annual lease payment due to extensive infrastructure repairs; and NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF THE COLONY, TEXAS THAT: Section 1. The City Council hereby agrees to grant a request to reduce the 2020 annual $10,000 fixed minimum rent in exchange for said capital improvements. Section 2. This Resolution shall become effective immediately from and after its passage, as the law and charter in such cases provides. PASSED AND APPROVED by the City Council of the City of The Colony, Texas, on this 4th day of February, 2020. _____________________________ Joe McCourry, Mayor City of The Colony, Texas ATTEST: _____________________________ Tina Stewart, TRMC, City Secretary APPROVED AS TO FORM: Jeff Moore, City Attorney 31 Agenda Item No:5.1 CITY COUNCIL Agenda Item Report Meeting Date: February 4, 2020 Submitted by: David Cranford Submitting Department: Finance Item Type: Ordinance Agenda Section: Subject: Conduct a public hearing and discuss and consider approving an ordinance amending Ordinance No. 2013-2034 concerning Tax Increment Reinvestment Zone Number Two, City of The Colony, Texas, by amending and changing the City Tax Increment from seventy percent (70%) to forty-five percent (45%). (Miller) Suggested Action: Effective 4/1/20, the following proposed adjustments are to be made to the Tribute property tax incentive agreements. The TIF reimbursement will be reduced from 70% to 45%. Agreement for PD23 remains at the 50% reimbursement of property tax, but the agreement will be extended from 2021 to 2032. The PD18 agreement reimbursement percent will be reduced from 61% to 50% and the agreement will be extended from 2021 to 2032. Attachments: Ord. 2020-xxxx The Colony - Tribute TIRZ - Amending Ord Establishing TIRZ # 2 - amending percentage.docx 32 CITY OF THE COLONY, TEXAS ORDINANCE NO. 2020- AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF THE COLONY, TEXAS, AMENDING ORDINANCE NO.2013-2034 CONCERNING REINVESTMENT ZONE NUMBER TWO, CITY OF THE COLONY, TEXAS, ESTABLISHED PURSUANT TO CHAPTER 311 OF THE TEXAS TAX CODE, BY AMENDING AND CHANGING SECTION 6 OF SAID ORDINANCE TO AMEND THE CITY TAX INCREMENT FROM SEVENTY PERCENT (70%) TO FORTY-FIVE PERCENT (45%); PROVIDING A SEVERABILITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE. WHEREAS,on December 3, 2013, the City Council of the City of The Colony, Texas, pursuant to Chapter 311 of the Texas Tax Code, approved Ordinance No. 2013-2034, designating a contiguous geographic area within the City as a Reinvestment Zone Number Two, City of The Colony, Texas; and WHEREAS,the City Council of the City of The Colony, Texas, now desires to amend Reinvestment Zone Number Two, City of The Colony, Texas, to amend Section 6 of Ordinance No. 2013-2034 to change the City Tax Increment contributed to the fund from seventy percent (70%) to forty-five percent (45%); and WHEREAS, Section 311.003(c) of the Texas Tax Code provides that the City of The Colony, Texas, “[n]ot later than the seventh day before the date of the hearing, notice of the hearing must be published in a newspaper having general circulation in the municipality or county;” and WHEREAS,Section 311.011(e) of the Texas Tax Code, in pertinent part provides, “[I]f an amendment reduces or increases the geographic area of the zone, increases the amount of bonded indebtedness to be incurred, increases or decreases the percentage of a tax increment to be contributed by a taxing unit, increases the total estimated project costs, or designates additional property in the zone to be acquired by the municipality or county, the approval must be by ordinance or order, as applicable, adopted after a public hearing that satisfies the procedural requirements of Sections 311.003(c) and (d);” and WHEREAS,the City Council of the City of The Colony, Texas, pursuant to Sections 311.003 and 311.011 of the Texas Tax Code, approved this Ordinance after a public hearing, and publication of notice of the public hearing in a newspaper general circulation of the City, all in accordance with Chapter 311 of the Texas Tax Code. NOW THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF THE COLONY, TEXAS: SECTION 1. The findings set forth above are incorporated into the body of this Ordinance as if 33 fully set forth herein. SECTION 2.AMENDMENT TO ORDINANCE NO. 2013-2034. (a)Amendment to Ordinance. That Section 6 of Ordinance No. 2013-2034, approved by the City Council of the City of The Colony, Texas, on December 3, 2013, is hereby amended to read as follows: “SECTION 6.TAX INCREMENT FUND. There is hereby created and established a TAX INCREMENT FUND for the Zone which may be divided into subaccounts. The CITY TAX INCREMENT, which is forty-five percent (45%) of the TAX INCREMENT, shall be deposited into the TAX INCREMENT FUND as of the effective date of this Ordinance. The TAX INCREMENT FUND and all subaccounts shall be maintained at the depository bank of the City and shall be secured in the manner prescribed by law for funds of Texas cities. Prior to termination of the Zone, funds shall be disbursed from the TAX INCREMENT FUND only to pay TIF PROJECT COSTS.” SECTION 3. MISCELLANEOUS PROVISIONS. That the following miscellaneous provisions are a part of this Ordinance: (a)Ordinance Number 2013-2034 shall continue in full force and effect except as amended herein. (b)It is hereby declared to be the intention of the City Council that the phrases, clauses, sentences, paragraphs and sections of this Ordinance are severable, and if any phrase, clause, sentence, paragraph or section of this Ordinance shall be declared unconstitutional by the valid judgment or decree of any court of competent jurisdiction, such unconstitutionality shall not affect any of the remaining phrases, clauses, sentences, paragraphs and sections of this Ordinance, since the same would have been enacted by the City Council without the incorporation of this Ordinance of any such unconstitutional phrase, clause, sentence, paragraph or section. (c)This Ordinance shall become effective immediately upon its passage. PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF THE COLONY, TEXAS, THIS THE 4TH DAY OF FEBRUARY, 2020. Joe McCourry, Mayor ATTEST: Tina Stewart, TRMC, City Secretary 34 APPROVED AS TO FORM: Jeff Moore, City Attorney 35 Agenda Item No:5.2 CITY COUNCIL Agenda Item Report Meeting Date: February 4, 2020 Submitted by: David Cranford Submitting Department: Finance Item Type: Ordinance Agenda Section: Subject: Conduct a public hearing and discuss and consider approving an ordinance amending the Final Project and Finance Plan for Tax Increment Reinvestment Zone Number Two, City of The Colony, Texas, by decreasing the City Tax Increment from seventy percent (70%) to forty-five percent (45%). (Miller) Suggested Action: Attachments: Ord. 2020-xxxx Amending TIRZ Increment - Tribute TIRZ.docx 36 Page 1 2155.011\86200.3 CITY OF THE COLONY, TEXAS ORDINANCE NO. 2020- ________ AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF THE COLONY, TEXAS, APPROVING AN AMENDMENT TO THE FINAL PROJECT AND REINVESTMENT ZONE FINANCING PLAN FOR TAX INCREMENT REINVESTMENT ZONE NUMBER TWO, CITY OF THE COLONY, TEXAS, BY DECREASING THE CITY TAX INCREMENT FOR TAX INCREMENT REINVESTMENT ZONE NUMBER TWO, CITY OF THE COLONY, TEXAS, FROM SEVENTY PERCENT (70%) TO FORTY-FIVE PERCENT (45%); PROVIDING A SEVERABILITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the City Council of the City of The Colony adopted Ordinance No. 2013- 2034 creating Tax Increment Reinvestment Zone Number Two, City of The Colony Texas (the "Zone"), and establishing a Tax Increment Fund for the Zone with a city tax increment of 70 percent; and WHEREAS, the City desires to decrease the city tax increment for the Zone from 70 percent to 45 percent; and WHEREAS, by the adoption of Resolution 2014-1, the City adopted the Final Project and Finance Plan for the Zone that defined the City Tax Increment as the lesser of the lesser of (1) seventy percent (70%) of the Tax Increment for the City, or (2) the amount of total property taxes levied by the City for the year on the real property in the Zone after payment of the Wynnwood Tax Rebates and Wynnwood/MSW Tax Rebates; and WHEREAS, the City desires to amend the Final Project and Finance Plan for the Zone to define the City Tax Increment as the lesser of (1) forty-five percent (45%) of the Tax Increment for the City, or (2) the amount of total property taxes levied by the City for the year on the real property in the Zone after payment of the Wynnwood Tax Rebates and Wynnwood/MSW Tax Rebates; and WHEREAS,on April 15, 2014, the Board of Directors for Reinvestment Zone Number Two, City of The Colony, Texas, and the City Council of the City of The Colony, Texas, approved the Final Project and Reinvestment Zone Financing Plan; and WHEREAS, Section 311.003(c) of the Texas Tax Code provides that the City of The Colony, Texas, “[n]ot later than the seventh day before the date of the hearing, notice of the hearing must be published in a newspaper having general circulation in the municipality or county;” and WHEREAS,Section 311.011(e) of the Texas Tax Code, in pertinent part provides, “[I]f an amendment reduces or increases the geographic area of the zone, increases the amount of bonded indebtedness to be incurred, increases or decreases the percentage of a tax increment to be contributed by a taxing unit, increases the total estimated project costs, or designates 37 Page 2 2155.011\86200.3 additional property in the zone to be acquired by the municipality or county, the approval must be by ordinance or order, as applicable, adopted after a public hearing that satisfies the procedural requirements of Sections 311.003(c) and (d);” and WHEREAS,the City Council of the City of The Colony, Texas, pursuant to Sections 311.003 and 311.011 of the Texas Tax Code, approved this Ordinance after a public hearing, and publication of notice of the public hearing in a newspaper general circulation of the City, all in accordance with Chapter 311 of the Texas Tax Code, and find that the City Tax Increment contributed to the Zone should be decreased from seventy percent (70%) and forty-five percent (45%); and WHEREAS,the City Council of the City of The Colony, Texas, hereby finds and determines that the adoption of this Ordinance, approving an Amendment to the Final Project and Reinvestment Zone Financing Plan is in the best interests of the citizens of the City of The Colony, Texas. NOW THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF THE COLONY, TEXAS: SECTION 1.The findings set forth above are incorporated into the body of this Ordinance as if fully set forth herein. SECTION 2. CITY TAX INCREMENT.The City Tax Increment for the Zone is hereby decreased to forty-five percent (45%) of the Tax Increment to be effective commencing on ________________, 2020. SECTION 3. AMENDMENT TO FINAL PROJECT AND FINANCE PLAN. The definition of "City Tax Increment" in the Final Project and Finance Plan adopted by Resolution 2014-1 is hereby amended to read as follows: 2.6 "City Tax Increment" means the lesser of (1) forty-five percent (45%) of the Tax Increment for the City, or (2) the amount of total property taxes levied by the City for the year on the real property in the Zone after payment of the Wynnwood Tax Rebates and Wynnwood/MSW Tax Rebates. SECTION 4. SEVERABILITY CLAUSE.If any provision, section, subsection, sentence, clause or phrase of this Ordinance, or the application of same to any person or set of circumstances, is for any reason held to be invalid, the validity of the remaining provisions of this Ordinance or their application to other persons or sets of circumstances shall not be affected thereby, it being the intent of the City Council in adopting this Ordinance that no provision of this Ordinance shall become inoperative because of the invalidity of another provision; and, therefore, all provisions of this Ordinance are declared severable for that purpose. SECTION 5. OPEN MEETINGS.It is hereby found, determined, and declared that 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 its meeting, as required by the Texas Open Meetings Act, Chapter 551 of the Texas Government 38 Page 3 2155.011\86200.3 Code, 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 6. EFFECTIVE DATE.This Ordinance shall take effect immediately upon its adoption and publication in accordance with and as provided by law and the City Charter. PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF THE COLONY, TEXAS, THIS THE 4TH DAY OF FEBRUARY, 2020. By: Joe McCourry, Mayor ATTEST: By: Tina Stewart, TRMC, City Secretary APPROVED AS TO FORM: By: Jeff Moore, City Attorney 39 Agenda Item No:5.3 CITY COUNCIL Agenda Item Report Meeting Date: February 4, 2020 Submitted by: David Cranford Submitting Department: Finance Item Type: Resolution Agenda Section: Subject: Discuss and consider approving a resolution approving a First Amendment to Reimbursement Agreement for Tax Increment Reinvestment Zone Number Two, City of The Colony, Texas, with TP TIF, LLC, by changing the City Tax Increment from seventy percent (70%) to forty-five percent (45%). (Miller) Suggested Action: Attachments: First Amendment to TIRZ Reimbursement Agreement - Tribute TIRZ.docx Res. 2020-xxx - Approving First Amendment to TIRZ 2 Reimbursement Agreement.docx 40 Page 1 2155.011\86201.3 FIRST AMENDMENT TO REIMBURSEMENT AGREEMENT FOR TAX INCREMENT REINVESTMENT ZONE NUMBER TWO, CITY OF THE COLONY, TEXAS This First Amendment to Reimbursement Agreement for Tax Increment Reinvestment Zone Number Two, City of The Colony, Texas (the "Amendment") is entered into by and between the City of The Colony, Texas (the "City"), the Board of Directors for Tax Increment Reinvestment Zone Number Two, City of The Colony, Texas (the "Board"), and TP TIF, LLC, a Texas limited liability company (the "Developer") (each a "Party" and collectively the "Parties") to be effective on April 1, 2020 (the "Effective Date"). RECITALS: WHEREAS, the City, the Board, and Tribute Partners, L.P. entered into that certain Reimbursement Agreement for Tax Increment Reinvestment Zone Number Two, City of The Colony, Texas (the "Agreement"); and WHEREAS, Tribute Partners, L.P. assigned the Agreement to TP TIF, LLC, who is now the "Developer" Party to the Agreement; and WHEREAS, the Parties wish to amend the Agreement to decrease the City Tax Increment from 70 percent to 45 percent. NOW, THEREFORE,for and in consideration and ten dollars ($10.00) the receipt of which is hereby acknowledged, the Parties hereby agree as follows: Section 1. That Section 3(f) of the Agreement is hereby amended to redefine the term "City Tax Increment" as follows: City Tax Increment means the lesser of (l) forty-five percent (45%) of the Tax Increment for the City, or (2) the amount of total property taxes levied by the City for the year on the real property in the Zone after payment of the Wynnwood Tax Rebates and Wynnwood/MSW Tax Rebates. Section 2.All of the terms, conditions, and obligations of the Agreement shall remain in full force and effect except as specially modified by this Amendment. Section 3.This Amendment may be executed in one or more counterparts, each of which shall be deemed an original and all of which shall constitute one and the same document. [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 41 Page 2 2155.011\86201.3 SIGNED AS OF THE DATES NOTED BELOW AND EFFECTIVE as of the Effective Date. CITY: CITY OF THE COLONY, TEXAS a Texas home-rule municipality By: Joe McCourry, Mayor Date: ATTEST: By: Tina Stewart, TRMC, City Secretary APPROVED AS TO FORM: By: Jeff Moore, City Attorney BOARD: REINVESTMENT ZONE NUMBER TWO, CITY OF THE COLONY, By: Richard Boyer, Chairperson Date: 42 Page 3 2155.011\86201.3 DEVELOPER: TP TIF, LLC a Texas limited liability company By:TP Venture Holdings, LP a Texas limited partnership its manager By:Wynnwood Peninsula Partners GP, LLC a Texas limited liability company its general partner By:Matthews Holdings Southwest Inc., a Texas corporation its sole member and manager By: Name: Title: Date: 43 CITY OF THE COLONY, TEXAS RESOLUTION NO. 2020-_______ A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF THE COLONY, TEXAS, APPROVING THE FIRST AMENDMENT TO REIMBURSEMENT AGREEMENT FOR TAX INCREMENT REINVESTMENT ZONE NUMBER TWO, CITY OF THE COLONY, TEXAS; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS,the City of The Colony, Texas (hereinafter referred to as the “City”), pursuant to Chapter 311 of the Texas Tax Code, as amended (hereinafter referred to as the “Act”), may designate a geographic area within the City as a tax increment reinvestment zone if the area satisfies the requirements of the Act; and WHEREAS,on December 3, 2013, pursuant to and as required by the Act, the governing body of the City (hereinafter referred to as the “City Council”) approved and adopted by Ordinance No. 2013-2033, a Preliminary Reinvestment Zone Financing Plan for Tax Increment Reinvestment Zone Number Two, City of The Colony, Texas, for a proposed tax increment reinvestment zone containing approximately 992.220 acres of property located within the City of The Colony, Texas; and WHEREAS,after the public hearing on December 3, 2013, the City Council approved Ordinance No. 2013-2034, establishing Reinvestment Zone Number Two, City of The Colony, Texas; and WHEREAS,on April 15, 2014, the Board of Directors for Reinvestment Zone Number Two, City of The Colony, Texas, approved the Final Project and Reinvestment Zone Financing Plan; and WHEREAS, the Board of Directors of Reinvestment Zone Number Two, City of The Colony, Texas (hereinafter referred to as the “Board”) and the City of The Colony, Texas, entered into a Reimbursement Agreement (hereinafter referred to as the “Agreement”) with Tribute Partners, L.P., a Texas limited partnership addressing the payment and reimbursement of certain TIF Project Costs; and WHEREAS, Tribute Partners, L.P. assigned the Agreement to TP TIF, LLC, who is now the "Developer" Party to the Agreement; and WHEREAS, the Board, the City, and Developer now desire to amend the Agreement to decrease the City Tax Increment from 70 percent to 45 percent. NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF THE COLONY, TEXAS, THAT: Section 1. The findings set forth above are incorporated into the body of this Resolution as if fully set forth herein.44 Section 2.The City Council for the City of The Colony, Texas, hereby approves the First Amendment to Reimbursement Agreement for Tax Increment Reinvestment Zone Number Two, City of The Colony, Texas, a copy of which is attached hereto as Exhibit A and is incorporated herein for all purposes. Section 3. That this Resolution shall take effect immediately from and after its passage. PASSED AND APPROVED by the City Council of the City of The Colony, Texas this 4th day of February, 2020. ______________________ Joe McCourry, Mayor City of The Colony, Texas ATTEST: ________________________________ Tina Stewart, TRMC, City Secretary APPROVED AS TO FORM: ________________________________ Jeff Moore, City Attorney 45 Exhibit A First Amendment to Reimbursement Agreement For Tax Increment Reinvestment Zone Number Two, City of The Colony, Texas 46 Agenda Item No:5.4 CITY COUNCIL Agenda Item Report Meeting Date: February 4, 2020 Submitted by: David Cranford Submitting Department: Finance Item Type: Resolution Agenda Section: Subject: Discuss and consider approving a resolution approving a Third Amendment to the Developer’s Agreement between the City of The Colony and Wynnwood Peninsula Partners, L.P.. (Miller) Suggested Action: Attachments: Third Amendment to the Developers Agreement for PD 23 - Wynnwood Peninsula Partners - TP TIF LLC.docx Res. 2020-xxx - Approving Third Amendment with Wynnwood Peninsula Partners LP.docx 47 Page 1 2155.010\86186.3 THIRD AMENDMENT TO THE DEVELOPER'S AGREEMENT BETWEEN THE CITY OF THE COLONY AND WYNNWOOD PENINSULA PARTNERS, L.P This Third Amendment to the Developer's Agreement Between the City of The Colony and Wynnwood Peninsula Partners, L.P. (the "Amendment") is entered into by and between the City of The Colony, Texas (the "City") and TP TIF, LLC (the "Developer") (each a "Party" and collectively the "Parties") to be effective on April 1, 2020 (the "Effective Date"). RECITALS: WHEREAS, the City and Wynnwood Peninsula Partners, L.P. entered into a Developer's Agreement Between the City of The Colony and Wynnwood Peninsula Partners, L.P. dated on or about March 17, 2008, and subsequently entered into two amendments to such agreement (as amended, the "Agreement"); and WHEREAS, Wynnwood Peninsula Partners, L.P. subsequently assigned the Agreement to Tribute Partners, L.P., who subsequently assigned the Agreement to TP TIF, LLC, who is now the "Developer" Party to the Agreement; and WHEREAS, all capitalized terms not defined in this Amendment shall be defined as stated in the Agreement; and WHEREAS, the Parties intend to amend the dates related to the City's payment of the grant required by the Agreement. NOW, THEREFORE,for and in consideration and ten dollars ($10.00) the receipt of which is hereby acknowledged, the Parties hereby agree as follows: SECTION 1.FINDINGS INCORPORATED. The foregoing recitals are hereby incorporated into the body of this Amendment and shall be considered part of the mutual covenants, consideration and promises that bind the parties. SECTION 2.AMENDMENTS TO AGREEMENT. (a)Amendment to Agreement. That the Agreement is hereby amended by amending and replacing Section 2.7(ii) in its entirety to read as follows: The City shall annually (on March 1 of each year following the prior tax year) grant, pursuant to Section 380.001 of the Local Government Code, to the Developer an amount of money equal to fifty percent (50%) of the real property ad valorem taxes collected by the City as ad valorem taxes on real estate within the Property during the period commencing on the Effective Date of this Amendment and ending on December 31, 2032, with the first payment being due on or before March 31, 2021 and the last payment being due and payable on or before March 31, 2033. 48 Page 2 2155.010\86186.3 (b)Amendment to Agreement. Notice information for the Agreement is hereby updated as follows: DEVELOPER: c/o Matthews Southwest Attn: Kristian Teleki and Adam Miller 320 W Main Street Lewisville, TX 75057 With a copy to: Shupe Ventura, PLLC Attn: Misty Ventura 9406 Biscayne Blvd. Dallas, TX 75218 CITY: City of The Colony City Hall 6800 Main Street The Colony, TX 75056 With a copy to: Brown & Hofmeister, LLP Attn: Jeff Moore 740 E. Campbell Road, Suite 800 Richardson, TX 75081 (c)Amendment to Agreement. That Section 2.27 of the Agreement, entitled "Term," is hereby amended to read as follows: This Agreement shall commence and bind the Parties on the Effective Date and shall continue in effect until March 31, 2033, provided, however, the Agreement shall not expire until all grants required to be paid by the City to the Owner have been paid. SECTION 3.MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this Amendment: (a)All of the terms, conditions, and obligations of the Agreement shall remain in full force and effect except as specially modified by this Amendment. (b)This Amendment may be executed in one or more counterparts, each of which shall be deemed an original and all of which shall constitute one and the same document. 49 Page 3 2155.010\86186.3 SIGNED AS OF THE DATES NOTED BELOW AND EFFECTIVE as of the Effective Date. CITY: CITY OF THE COLONY, TEXAS a Texas home-rule municipality By: Joe McCourry, Mayor Date: ATTEST: By: Tina Stewart, TRMC, City Secretary APPROVED AS TO FORM: By: Jeff Moore, City Attorney 50 Page 4 2155.010\86186.3 DEVELOPER: TP TIF, LLC a Texas limited liability company By:TP Venture Holdings, L.P. a Texas limited partnership its manager By: Wynnwood Peninsula Partners GP, LLC a Texas limited liability company its general partner By:Matthews Holdings Southwest, Inc. a Texas corporation its sole member and manager By: Name: Title: Date: 51 CITY OF THE COLONY, TEXAS RESOLUTION NO. 2020-_______ A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF THE COLONY, TEXAS, APPROVING THE THIRD AMENDMENT TO THE DEVELOPER’S AGREEMENT BETWEEN THE CITY OF THE COLONY AND WYNNWOOD PENINSULA PARTNERS, LP; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the City and Wynnwood Peninsula Partners L.P. entered into a Developer’s agreement between the City of The Colony and Wynnwood Peninsula Partners, L.P. dated on or about March 17, 2008, and subsequently entered into two amendments to such agreement (as amended, the “Agreement”). NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF THE COLONY, TEXAS: Section 1.That The findings set forth above are incorporated into the body of this Resolution as if fully set forth herein. Section 2. That the City Council of the City of The Colony, Texas, hereby approves the Third Amendment to the Developer’s Agreement between the City of The Colony and Wynnwood Peninsula Partners LP., a copy of which is attached hereto as Exhibit A, and is incorporated herein for all purposes. Section 3. That this Resolution shall take effect immediately from and after its passage. PASSED AND APPROVED by the City Council of the City of The Colony, Texas this 4th day of February, 2020. ______________________ Joe McCourry, Mayor City of The Colony, Texas ATTEST: ________________________________ Tina Stewart, TRMC, City Secretary APPROVED AS TO FORM: ________________________________ Jeff Moore, City Attorney 52 Exhibit A Third Amendment to the Developer’s Agreement Between the City of The Colony, And Wynnwood Peninsula Partners, l.P. 53 Agenda Item No:5.5 CITY COUNCIL Agenda Item Report Meeting Date: February 4, 2020 Submitted by: David Cranford Submitting Department: Finance Item Type: Resolution Agenda Section: Subject: Discuss and consider approving a resolution approving a Fifth Amendment to the Developer’s Agreement between the City of The Colony, Tribute Acquisitions, L.P., and Wynnwood Peninsula, Ltd. (Miller) Suggested Action: Attachments: Fifth Amendment to Development Agreement for PD 18 - Wynnwood Peninsula - Tribute Acquisitions.docx Res. 2020-xxx - Approving Fifth Amendment with Tribute Acquisitions and Wynnwood Peninsula.docx 54 Page 1 2155.010\86162.2 FIFTH AMENDMENT TO THE DEVELOPER'S AGREEMENT BETWEEN THE CITY OF THE COLONY, TRIBUTE ACQUISITIONS, LP, AND WYNNWOOD PENINSULA, LTD. THIS FIFTH AMENDMENT TO THE DEVELOPER'S AGREEMENT (the "Amendment") is entered into by and between the City of The Colony, Texas (the "City") and Tribute Acquisitions, L.P. and Wynnwood Peninsula, Ltd. (collectively, the "Developer") (each a "Party" and collectively the "Parties") to be effective on April 1, 2020 (the "Effective Date"). RECITALS: WHEREAS, the City, Wynnwood Peninsula, Ltd., and MSW Wynnwood, LLC entered into a Developer's Agreement on or about April 19, 2004, and subsequently entered into four amendments to the original Developer's Agreement (as amended, the "Agreement"); and WHEREAS, all capitalized terms not defined in this Amendment shall be defined as stated in the Agreement; and WHEREAS, MSW Wynnwood, LLC assigned the Agreement to MSW Wynnwood Holdings, Ltd., who subsequently assigned the Agreement to Wynnwood Peninsula Venture, who subsequently assigned the Agreement to TP TIF, LLC, who subsequently assigned the Agreement to Tribute Acquisitions, L.P. who is now the "Developer" Party to the Agreement; and WHEREAS, the Parties intend to amend the Agreement to reduce the Chapter 380 grant paid by the City to the Developer to an amount of money equal to fifty percent (50%) of the real property ad valorem taxes collected by the City as ad valorem taxes on real estate within the Property in exchange for releasing the Developer from the obligation of making payments to the City from tax rebate funds received by the Developer. NOW, THEREFORE,for and in consideration and ten dollars ($10.00) the receipt of which is hereby acknowledged, the Parties hereby agree as follows: SECTION 1.FINDINGS INCORPORATED. The foregoing recitals are hereby incorporated into the body of this Amendment and shall be considered part of the mutual covenants, consideration and promises that bind the parties. SECTION 2.AMENDMENTS TO AGREEMENT. (a)Amendment to Agreement. That the Agreement is hereby amended by amending and replacing Section 7(ii) in its entirety to read as follows: “(ii)Commencing on the Effective Date of this Amendment, pursuant to Section 380.001 of Local Government Code and the terms of the agreement 55 Page 2 2155.010\86162.2 attached hereto as Exhibit D: The Revised Economic Development Agreement (the "Economic Development Agreement"), the City shall annually (on or before March 31st of each year following the prior tax year) grant, pursuant to Section 380.001 of the Local Government Code, to the Developer an amount of money equal to fifty percent (50%) of the real property ad valorem taxes collected by the City as ad valorem taxes on real estate within the Property during the period commencing on the Effective Date of this Amendment and ending on December 31, 2032, with the first payment being due on or before March 31, 2021 and the last payment being due and payable on or before March 31, 2033.” (b)Amendment to Agreement. That the Agreement is hereby amended by deleting Section 8(iii) in its entirety. (c)Amendment to Agreement. Notice information for the Agreement, including the notice information for the Economic Development Agreement attached as Exhibit D to the Agreement, is hereby updated as follows: DEVELOPER: c/o Matthews Southwest Attn: Kristian Teleki and Adam Miller 320 W Main Street Lewisville, TX 75057 With a copy to: Shupe Ventura, PLLC Attn: Misty Ventura 9406 Biscayne Blvd. Dallas, TX 75218 CITY: City of The Colony City Hall 6800 Main Street The Colony, TX 75056 With a copy to: Brown & Hofmeister, LLP Attn: Jeff Moore 740 E. Campbell Road, Suite 800 Richardson, TX 75081 56 Page 3 2155.010\86162.2 (d)Amendment to Agreement. That Exhibit D attached to the Agreement and referred to as the Economic Development Agreement is hereby amended as follows: 1. Section 1(D) is amended and replaced in its entirety to read as follows: Rebate Commencement Date shall be April 1, 2020. 2. Section III(2) is amended and replaced in its entirety to read as follows: Subject to the terms and conditions of this Agreement, the City hereby grants to the Developer an amount of money equal to fifty percent (50%) of the real property ad valorem taxes collected by the City as ad valorem taxes on real estate within the Property during the period starting on the Rebate Commencement Date and lasting until December 31, 2032, with the last payment being due and payable on or before March 31, 2033. 3. Section III(3) and Section IV are deleted. (e)Amendment to Agreement. The Economic Development Agreement attached as Exhibit D of the Agreement shall not expire until all grants required to be paid by the City to the Developer have been paid. (f)Amendment to Agreement. The Agreement shall not expire until all grants required to be paid by the City to the Developer have been paid. SECTION 3.MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this Amendment: (a)All of the terms, conditions, and obligations of the Agreement shall remain in full force and effect except as specially modified by this Amendment. (b)This Amendment may be executed in one or more counterparts, each of which shall be deemed an original and all of which shall constitute one and the same document. [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 57 Page 4 2155.010\86162.2 SIGNED AS OF THE DATES NOTED BELOW AND EFFECTIVE as of the Effective Date. CITY: CITY OF THE COLONY, TEXAS a Texas home-rule municipality By: Joe McCourry, Mayor Date: ATTEST: By: Tina Stewart, TRMC, City Secretary APPROVED AS TO FORM: By: Jeff Moore, City Attorney 58 Page 5 2155.010\86162.2 DEVELOPER: TRIBUTE ACQUISITIONS, LP a Texas limited partnership By:MSW WYNNWOOD HOLDINGS, LTD. a Texas limited partnership its general partner By:MSW WYNNWOOD HOLDINGS GP, LLC a Texas limited liability company its general partner By: Name: Title: Date: DEVELOPER: WYNNWOOD PENINSULA, LTD. a Texas limited partnership By:Its Sole General Partner Matthews Investments Southwest, Inc. XV, a Texas corporation By: Name: Title: Date: 59 Page 6 2155.010\86162.2 MSW Wynnwood, LLC and Wynnwood Peninsula, LTD. hereby sign below to authorize the amendments to Exhibit D of the Agreement (the Economic Development Agreement): MSW WYNNWOOD, LLC a Texas limited liability corporation By:Matthews Investments Southwest, Inc. XV a Texas corporation By: Name: Title: Date: WYNNWOOD PENINSULA, LTD. a Texas limited partnership By:Its Sole General Partner Matthews Investments Southwest, Inc. XV, a Texas corporation By: Name: Title: Date: 60 CITY OF THE COLONY, TEXAS RESOLUTION NO. 2020-_______ A RESOLUTION OF THE CIY COUNCIL OF THE CITY OF THE COLONY, TEXAS, APPROVING THE FIFTH AMENDMENT TO THE DEVELOPER’S AGREEMENT BETWEEN THE CITY OF THE COLONY, TRIBUTE ACQUISITIONS, LP AND WYNNWOOD PENINSULA, LTD; PROVIDING AN EFFECTIVE DATE. WHEREAS, the City, Wynnwood Peninsula, Ltd., and MSW Wynnwood, LLC entered into a Developer’s agreement on or about April 19, 2004, and subsequently entered into four amendments to the original Developer’s Agreement (as amended, the “Agreement”); and WHEREAS, the parties of the Agreement intend to amend the Agreement to reduce the Chapter 380 grant paid by the City to the Developer to an amount of money equal to fifty percent (50%) of the real property ad valorem taxes collected by the City as ad valorem taxes on real estate within the Property in exchange for releasing the Developer from the obligation of making payments to the City from tax rebate funds received by the Developer. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF THE COLONY, TEXAS: Section 1.That The findings set forth above are incorporated into the body of this Resolution as if fully set forth herein. Section 2. That the City Council of the City of The Colony, Texas, hereby approves the Fifth Amendment to the Developer’s Agreement between the City of The Colony, Tribute Acquisitions, LP, and Wynnwood Peninsula Ltd., a copy of which is attached hereto as Exhibit A, and is incorporated herein for all purposes. Section 3. That this Resolution shall take effect immediately from and after its passage. PASSED AND APPROVED by the City Council of the City of The Colony, Texas, this 4th day of February, 2020. ______________________ Joe McCourry, Mayor City of The Colony, Texas ATTEST: ________________________________ Tina Stewart, TRMC, City Secretary 61 APPROVED AS TO FORM: ________________________________ Jeff Moore, City Attorney 62 Exhibit A Fifth Amendment to the Developer’s Agreement Between the City of The Colony, Tribute Acquisitions, LP, and Wynnwood Peninsula, Ltd. 63 Agenda Item No:5.6 CITY COUNCIL Agenda Item Report Meeting Date: February 4, 2020 Submitted by: David Cranford Submitting Department: Finance Item Type: Resolution Agenda Section: Subject: Discuss and consider approving a resolution authorizing the City Manager to execute a publication of a Notice of Intention to issue Certificates of Obligation, including the adoption of a resolution pertaining thereto. (Miller) Suggested Action: Local Government Code requires 45 days notice in the paper of record before debt issuances. This bond will not exceed $15 million to provide for 2019-20 approved CIP assets and projects. Attachments: Res 2020-xxx Publication Notice of Intent for Certificates of Obligation.docx 64 48876680.1/08006101 CITY OF THE COLONY, TEXAS RESOLUTION NO. 2020-_______ A RESOLUTION OF THE CITY OF THE COLONY, TEXAS APPROVING AND AUTHORIZING PUBLICATION OF NOTICE OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATION. WHEREAS, the City Council of the City of The Colony, Texas (the “City”), has determined that certificates of obligation should be issued under and pursuant to the provisions of Texas Local Government Code, Subchapter C of Chapter 271, as amended, for the purpose of paying contractual obligations to be incurred for (i) constructing, improving and renovating streets, alleys, culverts and bridges, including drainage, landscaping, screening walls, curbs, gutters, sidewalks, signage and traffic signalization incidental thereto and the acquisition of land and rights-of-way therefor, (ii) improving and extending the City’s waterworks and sewer system, (iii) acquiring equipment and vehicles for the utilities department, (iv) improving and equipping the City’s information technology system, and (v) professional services rendered in connection therewith; and WHEREAS, prior to the issuance of such certificates, the City Council is required to publish notice of its intention to issue the same in a newspaper of general circulation in the City, said notice stating (i) the time and place the City Council tentatively proposes to pass the ordinance authorizing the issuance of the certificates, (ii) the maximum amount proposed to be issued, (iii) the purposes for which the certificates are to be issued and (iv) the manner in which the City Council proposes to pay the certificates; NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF THE COLONY, TEXAS: SECTION 1: That the City Secretary is hereby authorized and directed to cause notice to be published of the City Council’s intention to issue certificates of obligation, in one or more series, in the principal amount not to exceed FIFTEEN MILLION DOLLARS ($15,000,000) for the purpose of paying contractual obligations to be incurred for (i) constructing, improving and renovating streets, alleys, culverts and bridges, including drainage, landscaping, screening walls, curbs, gutters, sidewalks, signage and traffic signalization incidental thereto and the acquisition of land and rights-of-way therefor, (ii) improving and extending the City’s waterworks and sewer system, (iii) acquiring equipment and vehicles for the utilities department, (iv) improving and equipping the City’s information technology system, and (v) professional services rendered in connection therewith; such certificates to be payable from ad valorem taxes and a limited pledge of the surplus net revenues of the City’s waterworks and sewer system. The notice hereby approved and authorized to be published shall read substantially in the form and content of Exhibit A hereto attached and incorporated herein by reference as a part of this resolution for all purposes. SECTION 2: That the City Secretary shall cause the notice described above to be published in a newspaper of general circulation in the City, once a week for two consecutive weeks, the date of the first publication to be at least thirty-one (31) days prior to the date stated therein for the passage of the ordinance authorizing the issuance of the certificates of obligation. 65 48876680.1/08006101 2 PASSED AND APPROVED by the City Council of the City of The Colony, Texas this 4th day of February, 2020. Joe McCourry, Mayor City of The Colony, Texas ATTEST: Tina Stewart, TRMC, City Secretary, City of The Colony, Texas (City Seal) 66 48876680.1/08006101 A-1 EXHIBIT A NOTICE OF INTENTION TO ISSUE CITY OF THE COLONY, TEXAS CERTIFICATES OF OBLIGATION TAKE NOTICE that the City Council of the City of The Colony, Texas, shall convene at 6:30 p.m. on the 17 th day of November, 2020, at its regular meeting place in City Hall located at 6800 Main Street, The Colony, Texas, and, during such meeting, the City Council will consider the passage of an ordinance authorizing the issuance of certificates of obligation, in one or more series, in an amount not to exceed FIFTEEN MILLION DOLLARS ($15,000,000) for the purpose of paying contractual obligations to be incurred for (i) constructing, improving and renovating streets, alleys, culverts and bridges, including drainage, landscaping, screening walls, curbs, gutters, sidewalks, signage and traffic signalization incidental thereto and the acquisition of land and rights-of-way therefor, (ii) improving and extending the City’s waterworks and sewer system, (iii) acquiring equipment and vehicles for the utilities department, (iv) improving and equipping the City’s information technology system, and (v) professional services rendered in connection therewith, such certificates to be payable from ad valorem taxes and a limited pledge of the surplus net revenues of the City’s waterworks and sewer system. The certificates are to be issued, and this notice is given, under and pursuant to the provisions of Texas Local Government Code, Subchapter C of Chapter 271, as amended. Tina Stewart, City Secretary City of The Colony, Texas 67 Agenda Item No:6.1 CITY COUNCIL Agenda Item Report Meeting Date: February 4, 2020 Submitted by: Tina Stewart Submitting Department: City Secretary Item Type: Miscellaneous Agenda Section: Subject: A. Council shall convene into a closed executive session pursuant to Section 551.071 of the Texas Government Code to seek legal advice from the city attorney regarding pending or contemplated litigation - Appeal of Brazos Electric Power Cooperative, Inc., PUC Docket No. 45175 and City of The Colony, Texas v. Brazos Electric Power Cooperative, Inc. matter, Cause No. 16-06424-16. B. Council shall convene into a closed executive session pursuant to Section 551.087 of the Texas Government Code regarding commercial or financial information the city has received from a business prospect(s), and to deliberate the offer of a financial or other incentive to a business prospect(s). Suggested Action: Attachments: 68 Agenda Item No:7.1 CITY COUNCIL Agenda Item Report Meeting Date: February 4, 2020 Submitted by: Tina Stewart Submitting Department: City Secretary Item Type: Miscellaneous Agenda Section: Subject: A. Any action as a result of executive session regarding pending or contemplated litigation - Appeal of Brazos Electric Power Cooperative, Inc., PUC Docket No. 45175 and City of The Colony, Texas v. Brazos Electric Power Cooperative, Inc. matter, Cause No. 16-06424-16. B. Any action as a result of executive session regarding commercial or financial information the city has received from a business prospect(s). Suggested Action: Attachments: 69