HomeMy WebLinkAboutOrdinance No. 04-1568 THE CITY OF THE COLONY, TEXAS
AN ORDINANCE OF THE CITY OF THE COLONY, TEXAS,
DESIGNATING REINVESTMENT ZONE NO. 2 (EDWARD DON & CO);
PROVIDING ELIGIBILITY OF THE ZONE FOR COMMERCIAL-
INDUSTRIAL TAX ABATEMENT; CONTAINING FINDINGS THAT THE
AREA QUALIFIES TO BE DESIGNATED AS A REINVESTMENT ZONE
AND THE IMPROVEMENTS SOUGHT ARE FEASIBLE AND
PRACTICABLE AND OF BENEFIT TO THE LAND AND THE CITY;
PROVIDING A SEVERABILITY CLAUSE; PROVIDING A REPEALING
CLAUSE; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, thc City Council of the City of Thc Colony, Texas, has caused notice to be
published in a newspaper having general circulation in the City and has delivered such notice to thc
presiding officer of the governing body of each taxing unit that includes in its boundaries real
property described herein; and
WHEREAS, the City Council of the City of The Colony, Texas, has conducted a public
hearing on the designation of the area described herein as a reinvestment zone;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF THE
COLONY, DALLAS COUNTY, TEXAS THAT:
SECTION 1: That the City Council of the City of The Colony, Texas f'mds that the area
described herein will, if designated as a reinvestment zone, be reasonably likely to contribute to the
retention or expansion of primary employment, or to attract major investment in the zone that will
be of benefit to the property and contribute to the economic development of the City. The City
Council further finds that the improvements sought are feasible and practicable and would be of
benefit to the land to be included in the zone and to the City after the expiration of a tax abatement
agreement.
SECTION 2. That pursuant to the provisions of Section 312.201 of the Texas Tax Code,
the property described in Exhibit "A" attached hereto and made a part hereof for all purposes is
hereby designated as a reinvestment zone and for identification is assigned the name "Reinvestment
Zone No. 2 (Edward Don & Co)."
SECTION 3. That the property within Reinvestment Zone No. 2 is eligible for
commercial-industrial tax abatement effective on January 1, 2004.
SECTION 4. If any article, paragraph or subdivision, clause or provision of this ordinance
shall be adjudged invalid or held unconstitutional, the same shall not affect the validity of this
ordinance as a whole or any part or provision thereof, other than the part so decided to be invalid or
unconstitutional.
SECTION 5. That all provisions of ordinances of the City of The Colony, Texas, in
conflict with the provisions of this ordinance be, and the same are hereby, repealed, and all other
provisions not in conflict with the provisions of this ordinance shall remain in full fome and effect.
SECTION 6. This ordinance shall take effect immediately from and after its passage, as
the law and charter in such cases provide.
DULY PASSED by the City Council of the City of The Colony, Texas, on the t~ay
of 0_,~4x~ ,2004.
APPROVED:
HN DILLARI~ MAYOR
ATTEST:
CHRISTIE WILSON, CITY SECRETARY
APP OVED T O :
P~t~ G. Smith;Ci{y Attorney
(PGSlt¢ 6/3/04) (65355)
2
Exhibit A
Legal Description of the Land
LEC~L DESCRIPTION
BEING o tract of land situated in the T. A. We~t
Survey. Abstract No. 1,344, Denton County, Texas.
be poll of o 135.0201 acre tract os recorded in Volume
2548, Page 775 of the Deed Records of, Denton C. ot~y,
Texas, and being more particularly described by rrm~
bounds as follows:
BEGINNING at o capped I/2 inch iron rod four~
comer at the southeast corner of Lot 1, Block ~,
Inn Addition, on addition to the City of The Co~ny
according to the Plot thereof recorded in Cabinet
Page .... Plat Records of Denton County, Texas:
THENCE North O0 degrees 23 minutes 40 seconds
Wes¢ tallowing the east llne of said Lot 1 e distance of
g31.,~1 feet to o "X" cut set for corner, said "X" cut
being in o curve to the left with o chord bearing of South
7B degrees O0 minutes 43 seconds East o chord di~tonce
of 449.42 feet, said 'X" cut also being in the south Right
Of Wey I/ne of Piano Parkway (100' ROW);
THENCE along said curve to the left following the
south ROW line of said Piano Parkway through o contr~l
angle of 24 decJrees 42 minutes 5.5 seconds, radius
distance of 1050.00 feet and on arc distance of 452.92
feet to o capped' 1/2 inch iron rod set for corner;
THENCE South O0 degrees 23 minutes 40 seconds
£ost o distance of 852.66 feet to o copped 1/2 inch iro~
rod set for corner:
THENCE South 89 degrees 22 minutes 45 seconds
West o distance of 562.00 feet to the POINT OF
BEGINNING and containing 482.453 square feet or 11.076
acres of land.
SURVEYOR'S CERTIFICATE