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ORD 2007-08TOWN OF TROPHY CLUB, TEXAS TOWN ORDINANCE NO. 2007-08 AN ORDINANCE OF THE TOWN COUNCIL OF THE TOWN OF TROPHY CLUB, TEXAS DESIGNATING A CERTAIN AREA WITHIN THE TOWN OF TROPHY CLUB AS REINVESTMENT ZONE NO. 4; PROVIDING FOR THE INCORPORATION OF PREMISES; PROVIDING FINDINGS AND DETERMINATIONS RELATIVE TO THE BOUNDARIES AND CRITERIA FOR ESTABLISHMENT OF ZONE NO. 4; ESTABLISHING AND DESIGNATING THE AREA AS REINVESTMENT ZONE NO. 4 OF THE TOWN OF TROPHY CLUB, TEXAS; PROVIDING FOR AN EFFECTIVE DATE AND EXPIRATION DATE FOR ZONE NO. 4; ESTABLISHING ELIGIBILITY FOR ABATEMENT; PROVIDING A CUMULATIVE REPEALER CLAUSE; PROVIDING FOR SEVERABILITY; PROVIDING FOR ENGROSSMENT AND ENROLLMENT; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the Town Council of the Town of Trophy Club, Texas (the "Town") desires to promote the development of a certain contiguous geographic area within its jurisdiction by the creation of a reinvestment zone eligible for tax abatement, as authorized by the Texas Tax Code, Chapter 312 (referred to as the "Property Redevelopment and Tax Abatement Act' or the "Act'); and, WHEREAS, a public hearing before the Town Council was held at 7:00 p.m. on the 19th day of February, 2007, such date being at least seven (7) days after the date of publication of the notice of such public hearing; and, WHEREAS, the Town held such public hearing after giving written notice of the hearing to all taxing units overlapping the territory inside the proposed reinvestment zone; and, WHEREAS, the Town at such hearing invited any interested person or his representative to appear for or against the creation of the Reinvestment Zone No. 4, the boundaries of the proposed reinvestment zone, whether all or part of the territory described in the notice calling such public hearing should be included in such proposed reinvestment zone, and the concept of tax abatement within the proposed zone; and, WHEREAS, both the proponents and the opponents of the reinvestment zone were afforded an opportunity to offer evidence, both oral and documentary, in favor of or opposed to any and all matters relating to the creation of the reinvestment zone at a regularly scheduled open public meeting of the Trophy Club Town Council. NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF TROPHY CLUB, TEXAS: SECTION 1. INCORPORATION OF PREMISES That the above and foregoing premises are true and correct and are incorporated herein and made a part hereof for all purposes. SECTION 2. FINDINGS AND DETERMINATIONS The Town, after conducting the above-mentioned hearing and having heard such evidence and testimony, has made the following findings and determinations based on the testimony presented to it: A. That a public hearing on the adoption of the reinvestment zone has been properly called, held and conducted and that notices of such hearing have been published and given as required by law; and, B. That the boundaries of Reinvestment Zone No. 4 shall be the area as described in the description attached hereto and incorporated herein as Exhibit "A" and shall be eligible for commercial -industrial tax abatement; and, C. That creation of the reinvestment zone for a tax abatement with boundaries as described in Exhibit "A" will result in benefits to the Town and to the land'included in the zone after the expiration of a tax abatement agreement entered into under Chapter 312 of the Act, and the improvements sought are feasible and practical; and, D. That the reinvestment zone as defined in Exhibit "A" meets the criteria for the creation of a reinvestment zone as set forth in Section 312.202 of the Act 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 Town'; and, E. That the reinvestment zone as defined in Exhibit "A" is consistent with the Town of Trophy Club, Texas Policy Statement for Tax Abatement. The foregoing findings having been approved by the Town Council at its regularly scheduled open meeting shall be noted in the minutes for that meeting as required by the Town of Trophy Club, Texas Policy Statement for Tax Abatement. SECTION 3. ZONE ESTABLISHED AND DESIGNATED AS REINVESTMENT ZONE NO.4 Pursuant to Section 312.201 of the Act, the Town hereby creates a reinvestment zone for a tax abatement encompassing only the area described by in Exhibit "A" and such reinvestment zone is hereby designated and shall hereafter be designated as Reinvestment Zone No. 4 of the Town of Trophy Club, Texas. SECTION 4. EFFECTIVE DATE AND EXPIRATION DATE FOR ZONE NO.4 The Reinvestment Zone No. 4 shall take effect on February 26, 2007, and shall remain designated as a reinvestment zone until expiration on February 26, 2012; provided, however, the Town my exercise its authority under Section 312.203 of the Act regarding renewal for periods not to exceed five (5) years. SECTION 5. ELIGIBILITY FOR ABATEMENT A project located within Reinvestment Zone No. 4 may be eligible for tax abatement. Creation of this Reinvestment Zone shall not be construed as consent for or entitlement to any type of abatement. In order to be eligible for a tax abatement, a project within the Reinvestment Zone No. 4 created by this Ordinance must meet the General Purpose and Objectives and other criteria specified in Town of Trophy Club, Texas Policy Statement for Tax Abatement as determined by the Town Council after proper notice and consideration at an open regularly scheduled meeting of the Town Council. Additionally, any written tax abatement agreements authorized in Reinvestment Zone No. 4 shall meet the criteria specified in the Town of Trophy Club, Texas Policy Statement for Tax Abatement. SECTION 6. CUMULATIVE REPEALER That this Ordinance shall be cumulative of all other Ordinances of the Town affecting the designation of Reinvestment Zones and/or Reinvestment Zone No. 4 and shall not repeal any of the provisions of such Ordinances except as specifically provided herein and in those instances where provisions of those Ordinances are in direct conflict with the provisions of this Ordinance; whether such Ordinances are codified or uncodified, and all other provisions of the Ordinances of the Town of Trophy Club, codified or uncodified, not in conflict with the provisions of this Ordinance, shall remain in full force and effect. SECTION 7. SEVERABILITY If any section, article, paragraph, sentence, clause, phrase or word in this Ordinance, or application thereof to any person or circumstance, is held invalid or unconstitutional by a Court of competent jurisdiction, such holding shall not affect the validity of the remaining portions of the Ordinance, and the Town Council hereby declares it would have passed such remaining of the Ordinance despite such invalidity, which remaining portions shall remain in full force and effect. SECTION 8. ENGROSSMENT AND ENROLLMENT The Town Secretary of the Town of Trophy Club is hereby directed to engross and enroll this Ordinance by copying the exact Caption and Effective Date clause in the minutes of the Town Council of the Town of Trophy Club and by filing this Ordinance in the Ordinance records of the Town and by amending the Code of Ordinances to reflect the changes adopted herein by Council. SECTION 9. EFFECTIVE DATE This Ordinance shall take effect from and after its date of passage in accordance with law. and it is so ordained. PASSED AND APPROVED by the Town Council of the Town of Trophy Club, Texas, this the 19th day of February, 2007. ATTEST: ') toC Town Secretary' Town of Trophy Club, Texas [SEAL] APPROVED AS TO FORM: Q' LAA e�_,lc�r�Alu, Town Attorney Town of Trophy Club, Texas y/ Mayor Town of Trophy Club, Texas .Y \q` - EXHIBIT A 1 I 1 1' t Reinvestment Zone No. 4 Reinvestment Zone No. 4 is comprised of 11 contiguous parcels described as follows: 1. Generally described as Trophy Club Medical Plaza, Block 1, Lot 1, being 7.9384 acres situated in the John Henry Survey, Abstract No. 528 and the W.H. Pea Survey, Abstract No.1045, in the Town of Trophy Club, Denton County, Texas, and further described as 2800 and 2850 SH 114, Trophy Club, Texas. 2. Generally described as being 8.3912 acres in the J. Henry Survey, Abstract No. 528A, Old DCAD Tr 3B, in the Town of Trophy Club, Denton County, Texas, and further described as being located generally to the north of SH 114 and to the west of Trophy Wood Dr., Trophy Club, Texas. 3. Generally described as Trophy Wood Business Center, Block A, Lot 2, being 1.05 acres situated in the J. Henry Survey, Abstract No. 528 (Denton County) and Abstract No. 742 (Tarrant County) and the W. Medlin Survey, Abstract No. 1588 (Denton Co.) and Abstract No. 1958 (Tarrant Co.), in the Town of Trophy Club, Denton and Tarrant County, Texas and further described as being located generally to the north of SH 114 and to the west of Trophy Wood Dr., Trophy Club, Texas. 4. Generally described as Trophy Wood Business Center, Block A, Lot 1, being 0.88 acres situated in the J. Henry Survey, Abstract No. 528 (Denton County) and Abstract No. 742 (Tarrant County) and the W. Medlin Survey, Abstract No. 1588 (Denton Co.) and Abstract No. 1958 (Tarrant Co.), in the Town of Trophy Club, Denton and Tarrant County, Texas and further described as being located generally being located at the northwest corner of SH 114 and Trophy Wood Dr., Trophy Club, Texas. 5. Generally described as Trophy Wood Business Center, Block A, Lot 3, being 2.61 acres situated in the J. Henry Survey, Abstract No. 528 (Denton County) and Abstract No. 742 (Tarrant County) and the W. Medlin Survey, Abstract No. 1588 (Denton Co.) and Abstract No. 1958 (Tarrant Co.), in the Town of Trophy Club, Denton and Tarrant County, Texas and further described as being located generally to the north of SH 114 and to the west of Trophy Wood Dr. in Trophy Club, Texas. 6. Generally described as Trophy Wood Business Center, Block B, Lot 2 (Denton Co. portion), being 1.75 acres situated in the J. Henry Survey, Abstract No. 528 (Denton Co.) and Abstract No. 742 (Tarrant County) and the W. Medlin Survey, Abstract No. 1588 (Denton Co.) and Abstract No. 1958 (Tarrant Co.), in the Town of Trophy Club, Denton and Tarrant County, Texas and further described as being generally located at the northeast corner of Trophy Wood Dr. and SH 114 in Trophy Club, Texas. 7. Generally described as Trophy Wood Business Center, Block B, Lot 2 (MUD 1 portion), being 1.08 acres situated in the J. Henry Survey, Abstract No. 528 (Denton Co.) and Abstract No. 742 (Tarrant County) and the W. Medlin Survey, Abstract No. 1588 (Denton Co.) and Abstract No. 1958 (Tarrant Co.), in the Town of Trophy Club, Denton and Tarrant County, Texas and further described as being generally located at the southwest corner of SH 114 and Plaza Dr. in Trophy Club, Texas. 8. Generally described as Trophy Wood Business Center, Block B, Lot 1 (MUD 1 portion), being 1.219 acres situated in the J. Henry Survey, Abstract No. 528 (Denton County) and Abstract No. 742 (Tarrant County) and the W. Medlin Survey, Abstract No. 1588 (Denton Co.) and Abstract No. 1958 (Tarrant Co.), in the Town of Trophy Club, Denton and Tarrant County, Texas and further described as being generally located to the north of SH 114 and east of Trophy Branch in Trophy Club, Texas. 9. Generally described as Trophy Wood Business Center, Block B, Lot 1 (Denton Co. portion), being 0.9 acres situated in the J. Henry Survey, Abstract No. 528 (Denton County) and Abstract No. 742 (Tarrant County) and the W. Medlin Survey, Abstract No. 1588 (Denton Co.) and Abstract No. 1958 (Tarrant Co.), in the Town of Trophy Club, Denton and Tarrant County, Texas and further described as being generally located at the southeast corner of Plaza Dr. and Trophy Branch, and to the north of SH 114 in Trophy Club, Texas. 10. Generally described as Trophy Wood Business Center, Block B, Lot 3, being 3.38 acres situated in the J. Henry Survey, Abstract No. 528 (Denton County) and Abstract No. 742 (Tarrant County) and the W. Medlin Survey, Abstract No. 1588 (Denton Co.) and Abstract No. 1958 (Tarrant Co.), in the Town of Trophy Club, Denton and Tarrant County, Texas and further described as being generally located to the west of T.W. King Dr., east of Trophy Wood Dr. and north of Plaza Dr., Trophy Club, Texas. 11. Generally described as Trophy Wood Business Center, Block B, Lot 4, being 5.819 acres situated in the J. Henry Survey, Abstract No. 528 (Denton County) and Abstract No. 742 (Tarrant County) and the W. Medlin Survey, Abstract No. 1588 (Denton Co.) and Abstract No. 1958 (Tarrant Co.), in the Town of Trophy Club, Denton and Tarrant County, Texas and further described as being generally located to the west of T.W. King Dr., east of Trophy Wood Dr. and north of Plaza Dr., Trophy Club, Texas. Reinvestment Zone No. 4 ... .� .. i .c PV*_0 _-tghL� o4c- a+l pq I ,x *Boundaries of Zone are highlighted in yellow. j y � 7 =ix ie :y /lA GfPrCpp .� 3 , c Property ID Legal Description Acres R272967 TROPHY CLUB MEDICAL PLAZA, BLOCK 1, LOT 1 (IMP ONLY) R109926 TROPHY CLUB MEDICAL PLAZA, BLOCK 1, LOT 1, ACRES 7.9384 7.9384 R98627 A0528A J. HENRY, TRACT 13, ACRES 8.3912, OLD DCAD TR 313 8.3912 R263258 TROPHY WOOD BUSINESS CENTER, BLOCK A, LOT 2 R263257 TROPHY WOOD BUSINESS CENTER, BLOCK A, LOT 1 R263259 TROPHY WOOD BUSINESS CENTER, BLOCK A, LOT 3 TROPHY WOOD BUSINESS CENTER, BLOCK B, LOT 2(DENTON CO R263255 PORTION) R263256 TROPHY WOOD BUSINESS CENTER, BLOCK B, Lot 2, (MUD #1) R263254 TROPHY WOOD BUSINESS CENTER, BLOCK B, Lot 1, ( MUD #1) TROPHY WOOD BUSINESS CENTER, BLOCK B, LOT 1(DENTON CO R263253 PORTION) R263260 TROPHY WOOD BUSINESS CENTER, BLOCK B, LOT 3 R263261 TROPHY WOOD BUSINESS CENTER, BLOCK B, LOT 4 22.417 *Boundaries of Zone are highlighted in yellow.