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09-16-00-Ordinance-Designating Abatement Reinvestment Zone No 1 Walmart Distribution Center-10/02/2000ORDINANCE NO. 9-16-Q0 AN ORDINANCE AMENDING THE CODE OF THE CITY OF SANGER, TEXAS (1992), AS AMENDED, BY DESIGNATING A CERTAIN AREA AS THE SANGER TAX ABATEMENT REINVESTMENT ZONE NO, 1; PROVIDED THAT THIS ORDINANCE SHALL BE CUMULATIVE; PROVIDING A SEVERABILITY CLAUSE; PROVIDING FOR ENGROSSMENT AND ENROLLMENT; AND PROVIDING FOR AN EFFECTIVE DATE. WIHEREAS, the City Council of the City of Sanger, Texas ("City"), desires to promote the development or redevelopment of a certain contiguous geographic area within its jurisdiction by the creation of a reinvestment zone for commercial/industrial tax abatement, as authorized by the Property Redevelopment and Tax Abatement Act, Texas Tax Code, Chapter 312, as amended; WHEREAS, the City has elected to become eligible to participate in tax abatement; WHEREAS, the Property Redevelopment and Tax Abatement Act farther provides that property within a reinvestment zone may be eligible for, inter alia, tax abatement, subject to the governing body of the municipality establishing by resolution the guidelines and criteria for such eligibility and entering into a written tax abatement agreement with the owner of taxable real property that is located in the reinvestment zone; WHEREAS, a public hearing in a regularly scheduled meeting before the City Council was held at 7:00 p.m. on the Vd day of October, 2000, such date being at least seven (7) days after the date of publication of the notice of such public hearing as required by the 'Texas Tax Code; WHEREAS, notice of the public hearing was delivered to the presiding officer of the governing body of each affected taxing unit at least seven (7) days before the date of the public hearing; and WHEREAS, the City, at such hearing, invited all interested persons or their representatives to appear and speak for or against the creation of the proposed reinvestment zone, the boundaries of the proposed reinvestment zone, whether all or part of the territory described in this ordinance should be included in such proposed reinvestment zone, and the concept of tax abatement. NOW THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SANGER, TEXAS: SECTION 1. That the Zoning Code of the City of Sanger, Texas, (1992) as amended, is hereby amended by adding to Section 3, Zoning Districts, a new District, entitled Tax Abatement Reinvestment Zones, which shall read as follows: SECTION 44: TAX ABATEMENT REINVESTMENT ZONES DISTRICT TAX ABATEMENT REINVESTMENT ZONE NO, 1 44.1. Findings and Determinations That the facts and recitations contained in the preamble of this ordinance are hereby found and declared to be true and correct. The City, after conducting such hearings and having heard such evidence and testimony, has made the following findings and determinations based on the testimony and evidence presented to it: (a) That a public hearing on the designation of Tax Abatement Reinvestment Zone No. 1 has been properly called, held and conducted and that notices of such hearings have been published as required by law and delivered to all taxing units overlapping the territory inside the proposed reinvestment zone; and (b) . That the boundaries of the reinvestment zone shall be boundaries as described in Exhibit "A" which is attached hereto and made a part hereof, and (c) That the creation of the reinvestment zone for commercial/industrial tax abatement, with boundaries as described in Exhibit "A", will result in benefits to the City and the improvements sought are feasible and practical and would be a benefit to the land to be included in the reinvestment zone and to the City after the expiration of any tax abatement agreements; and (d) That the reinvestment zone as described in Exhibit "A" meets the criteria for the creation of a reinvestment zone as set forth in V.T.C.A. Tax Code, Section 312.202, as amended, in that it is reasonably likely as a result of the designation to contribute to the retention or expansion of primary employment or to attract major investment in the zone that would be a benefit to the property and that would contribute to the economic development of the City. 44.2. Designation of Zone. That pursuant to the Property Redevelopment and Tax Abatement Act, V.T.C.A., Tax Code, Sections 312.001 through 312.209, the City hereby creates a reinvestment zone for commercial/industrial tax abatement encompassing the area described in Exhibit "A" attached hereto and such reinvestment zone is hereby designated and shall hereafter be designated as Tax Abatement Reinvestment Zone No. 1, City of Sanger, Texas. The designation of this zone expires 2 years after the effective date of this ordinance and may be renewed for periods not to exceed 2 years. 44.3. Eligibility for Tax Abatement. The eligibility for tax abatement of property located in Tax Abatement Reinvestment Zone No. 1, City of Sanger, Texas, will be governed by the City of Sanger Guidelines and Criteria for Tax Abatement to Qualified CommerciaUindustrial Projects. 44.4. Effective Date. This article shall take effect on October 3rd, 2000. SECTION 2. This ordinance shall be cumulative of all provisions of ordinances and of the Code of the City of Sanger, Texas, as amended, except where the provisions of this ordinance are in direct conflict with the provisions of such ordinances and such Code, in which event conflicting provisions of such ordinances and such Code are hereby repealed. SECTION 3. It is hereby declared to be the intention of the City Council that the sections, paragraphs, sentences, clauses and phrases 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 in this ordinance of any such unconstitutional phrase, clause, sentence, paragraph or section. SECTION 4. The City Secretary of the City of Sanger is hereby directed to engross and enroll this ordinance by copying the caption and effective date in the minutes ofthe City Council and by filing the ordinance in the ordinance records of the City. SECTION 5. This ordinance shall take effect and be in full force and effect from and after its passage, and it is so ordained. EXHIBIT A Property Description TRACT ONE BEING a tract of land situated in the B.F. Lynch Survey, Abstract Number 725, Denton County, Texas and being a portion of that tract of land described by deed to EDWARD F. WOLSKI, as recorded in Volume 4519, Page 648, Deed Records, Denton County, Texas as being more particularly described by metes and bounds as follows: COMMENCING at a P.K NO found at the southeast property comer of said Wolski Tract, said P.Y- Nail is in the centerline of Lois Road at the intersection of the west right-of-way line of the G.C.&S.F. Railroad; THENCE N 10D 21M 15S E, 25.33 feet along said west right-of-way lose to a 5/8 inch iron rod with plastic cap stamped "CARTER & BURGESS" set at the POINT OF BEGINNING. THENCE N 88D 52M 48S W, 581.88 feet to a 5/8 inch iron rod with plastic cap stamped "CARTER & BURGESS, set; THENCE N 80D 31M 41S W, 1095.83 feet to a 5/8 inch iron rod with plastic cap stamped'CARTER & BURGESS, set; THENCE N 06D 21M 30S E, 329.90 feet to a 5/8 inch iron rod with plastic cap stamped'CARTER & BURGESS" set; THENCE N 83D 38M 30S W, 400,00 feet to a 1/2 iron rod with plastic cap stamped "ALLLANCE' found in the east right-of-way line of interstate highway 35 and the beginning of a curve to the right; THENCE with said east right-of-way line and with said curve to the right, through a central angle of 44D 59M 24S, having a radius of 236.48 feet, the long chord of which bears N 21D 33M 15S W, 180.96 feet, an arc distance of 185.69 feet to a 1/2 inch iron rod with plastic cap stamped "ALLIANCE' found; THENCE N 06D 35M 53S W, 152.63 feet with said east right-of-way line to a 1/2 iron rod with plastic cap stamped "ALLIANCE' found; THENCE N OOD 55M 50S E, 1146.64 feet continuing along said east right-of-way line to a 5/8 inch iron rod with plastic cap stamped "CARTER & BURGESS' set; THENCE S 89D 04M 10S E, 200.00 feet departing said cast right-of-way line to a 5/8 inch iron rod with plastic cap stamped "CARTER & BURGESS" set; THENCE N OOD 55M 50S E, 180.00 feet to a 5/8 inch iron rod with plastic cap stamped "CARTER & BURGESS" set; THENCE S 89D 04M IOS E, 90.00 feet to a 5/8 inch iron rod with plastic cap stamped'CARTER & BURGESS" set; THENCE N 06D 21M 30S E, 1190.00 feet to a 5/8 inch iron rod with plastic Cap stamped "CARTER & BURGESS" set; THENCE S 83D 38M 30S E, 75.00 feet to a 5/8 inch iron rod with plastic Cap stamped "CARTER & BURGESS' set; THENCE N 06D 21M 30S E, 920.00 feet to a 5/8 inch iron rod with plastic Cap Stamped "CARTER & BURGESS' set; THENCE S 88D 36M 36S E, 2263.19 feet to a 5/8 inch iron rod with plastic Cap stamped "CARTER & BURGESS' set in the aforementioned west right-of-way line of the G.C.& S.F. Railroad; THENCE S IOD 21M 15S W, 4309.54 feet along said west right-of-way line to the POINT OF BEGINNING and containing 213.286 acres of land more or less. TRACT TWO: BEING a tract of land situated in the in the B.F. Lynch. Survey, Abstract Number 725, Denton County, Texas and being a portion of that tract of land described by deed to EDWARD F. WOLSKI, as recorded in Volume 4519, Page 648, Deed Records, Denton County, Texas as being more particularly described by metes and bounds as follows: BEGINNING at a P.K. NO found at the southeast property comer of said Wolsld Tract, said P-M Nail is in the centerline of Lois Road at the intersection of the west right-of-way line of the G.C.& S.F. Railroad; THENCE N 88D 52M 48S W, 1926,45 feet along the centerline of Lois Road to a P.K. Nail found in the east right-of-way line of Highway 35; THENCE N OOD 45M 47S E, 29.90 feet along the east right-of-way line of Ifighway 35 to a 1/2 inch iron rod found; THENCE N 30D OOM 07S W, 49.41 feet continuing along said east right -of way line to a 1/2 inch iron rod found at the beginning of a curve to the left; THENCE with said east right-of-way line and with said curve to the left, through a central angle of 23D 32M 355, having a radius of 336.48 feet, the long chord of which bears N 25D 04M 30S E, 137.29 feet, an arc distance of 138.26 feet to a 5/8 inch iron rod with plastic Cap stamped "CARTER & BURGESS" set; THENCE S 89D 03M 32S E, 139.55 feet departing said east right-of-way line to a 5/8 inch iron rod with plastic Cap stamped "CARTER & BURGESS" set; THENCE S 80D 31M 41 S E, 1191.71 feet to a 5/8 inch iron rod with plastic Cap stamped "CARTER & BURGESS" set; THENCE, S 88D 52M 48S E, 581.88 feet to a 5/8 inch iron rod with plastic Cap stamped "CARTER & BURGESS' set in the west riglrt-of-way line of the G.C.&S.F. Railroad, THENCE S 1 OD 21M 15S W, 25.33 feet along said west right -of way line to the POINT OF BEGINNING and containing 4.114 acres of land more or less. NOW, THEREFORE, the City for good and valuable consideration, the adequacy and receipt of which are hereby acknowledged, which consideration includes the expansion of primary employment and the attraction of major investment in the Zone, which contributes to the economic development of the City and the enhancement of the tax base in the City, and the Owner and Spectrum, for good and valuable consideration, the adequacy and receipt of which are hereby acknowledged, which consideration includes the tax abatement set forth herein below, as authorized by the Code, do hereby contract, covenant and agree as follows: I. GENERAL PROVISIONS A. Owner is the owner of that certain parcel of land described on Exhibit A attached hereto and made a part hereof for all purposes (the "Premises"). The Premises are located within the Zone, and the Premises are located within the economic impact area of the City. B. The Premises are not in an improvement project financed by tax increment bonds. C. This Agreement is entered into subject to the rights of the holders of outstanding bonds of the City. D. None of the property subject to abatement of taxes under this Agreement is owned or leased by (i) any member of the City Council, or (ii) any member of a zoning or planning board or commission of the City. II. IMPROVEMENTS AND JOBS As a condition to the tax abatement provided herein, Owner, New Owner or an affiliate (defined below) shall make at a minimum a Twenty Million Dollars ($20,000,000) Capital Investment on and within the Premises on or before the third anniversary of the date this Agreement is executed and delivered by the City. The approximate location(s) of Improvements to be located on the Premises is reflected on Exhibit C attached hereto. For purposes of this Agreement: (1) the term "Improvement" shall mean any and all real property improvements to the Premises and shall include new or renovated buildings, structures and fixtures erected or affixed to land or existing real property; (2) the term "Capital Investment" means an investment in Improvements and/or tangible personal property (other than inventory and supplies).