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2015 07 14 Resolution CERTIFICATE FOR RESOLUTION THE STATE OF TEXAS § COUNTY OF HARRIS § 1, the undersigned officer of the Board of Directors of Tax Increment Reinvestment Zone Number One, City of Baytown,Texas, hereby certify as follows: 1. The Board of Directors of Tax Increment Reinvestment Zone Number One, City of Baytown,Texas, convened in special session on July 14,2015, at the regular meeting place thereof, and the roll was called of the members of the Board, and all of said persons were present, except Director(s),Yr thus constituting a quorum. Whereupon, among other business, the following was transacted at the meeting: a written RESOLUTION APPROVING AMENDMENT TO PROJECT PLAN AND REINVESTMENT ZONE FINANCING PLAN was introduced for the consideration of the Board. It was then duly moved and seconded that the resolution be adopted, and, after due discussion, the motion, carrying with it the adoption of the resolution,prevailed and carried. 2. A true, full and correct copy of the aforesaid Resolution adopted at the meeting described in the above and foregoing paragraph is attached to and follows this certificate; that the Resolution has been duly recorded in the Board's minutes of the meeting; that the persons named in the above and foregoing paragraph are the duly chosen, qualified and acting officers and members of the Board as indicated therein; that each of the officers and members of the Board was duly and sufficiently notified officially and personally, in advance, of the time, place and purpose of the aforesaid meeting, and that the Resolution would be introduced and considered for adoption at the meeting, and each of the officers and members consented,in advance, to the holding of the meeting for such purpose; that the meeting was open to the public as required by law; and that public notice of the time, place and subject of the meeting was given as required by Chapter 551,Texas Government Code. SIGNED July 14, 2015. ecretary, Board of Directors 550367 RESOLUTION APPROVING AMENDMENT TO PROJECT PLAN AND REINVESTMENT ZONE FINANCING PLAN WHEREAS, Tax Increment Reinvestment Zone Number One, City of Baytown, Texas (the "Zone'), was created by Ordinance No. 9197 of the City of Baytown, Texas (the "City") pursuant to Chapter 311 of the Texas Tax Code, as amended; and WHEREAS, the Board of Directors has requested the City Council of the City to add certain land to the Zone; and WHEREAS to implement such change it is necessary to amend the Zone's existing Restated and First Amended Project Plan and Reinvestment Zone Financing Plan (the"Plan"); WHEREAS, the Zone Board has caused an amendment to the Plan to be prepared to implement the addition of land,and is prepared to approve the amendment to the Plan and to recommend such amendment to the City Council for approval; NOW,THEREFORE BE IT RESOLVED BY THE BOARD OF DIRECTORS OF TAX INCREMENT REINVESTMENT ZONE NUMBER ONE,CITY OF BAYTOWN,TEXAS,THAT: Section 1: The Amendment to the Plan (the "Amendment"), as provided in Exhibit A attached hereto, is hereby determined to be feasible and is approved, and the Zone hereby requests that it be approved by the City Council of the City. Section 2: The officers and consultants of the Zone are hereby authorized and directed to do any and all things reasonably necessary for the implementation of this resolution and to assist the City in the consideration and approval of the Amendment. PASSED and APPROVED July 14,2015. &vf-h/ ti Chair, BoardMfbirectors ATTEST: Secretary, Board of Directors 550367 BAYTOIAN TAX INCREMENT REINVESTMENT ZONE, NUMBER ONE CITY OF BAYTOWN July 8, 2015 2015 AMENDMENT TO THE PROJECT PLAN AND REINVESTMENT ZONE FINANCING PLAN PROJECT PLAN Page I. Existing uses and conditions of real property within the area of the Zone 3 Map of original zone with 79 acre addition 4 II Proposed changes in zoning ordinance, master plan of the municipality, building codes 5 and other municipal ordinances III. List of estimated non-project cost items 5 REINVESTMENT ZONE FINANCING PLAN I. A detailed list describing the estimated projects of the Zone, including administrative 5 expenses II A statement listing the kind, number and location of all proposed public works or 5 public improvements in the Zone III. Economic Feasibility Study 5 IV. The estimated amount of bonded indebtedness to be incurred 5 V. The time when related costs or monetary obligations are to be incurred 6 VI. A description of the methods of financing all estimated project costs and the expected 6 sources of revenue to finance or pay project costs, including the percentage of tax increment to be derived from the property taxes of each taxing unit that levies taxes on real property in the Zone VII. The current total appraised value of taxable real property in the Zone 6 VI II. The estimated captured appraised value of the Zone during each year of its existence 6 IX. Duration of the Zone 6 X. Appendix A(boundary description and map of area to be included) 7-8 XI. Schedule A: Residential Buildout 9 XII. Schedule B: Projected Assessed Valuations and Tax Increment 10 2 of 10 City of Baytown TIRZ No.1 2015 Amendment 2015 AMENDMENT PROJECT PLAN This is an amendment to the Amended and Restated Project Plan and Reinvestment Zone Financing Plan as amended (the "Plan") for Reinvestment Zone No. One, City of Baytown, Texas ("Zone"). Except as amended hereby,the Plan remains in full force and effect. I. EXISTING USES AND CONDITIONS OF REAL PROPERTY WITHIN THE AREA OF THE ZONE The Zone consists of property located in the general vicinity of the intersection of Interstate 10 and Garth Road. Existing development within the Zone originally consisted of residential and commercial/retail development including the San Jacinto Mall. The Zone was enlarged in 2012 under the 2012 Amendment to the Plan to include land located east of Sjolander Road and north of Interstate 10. The enlargement area was developed as a Chevron Phillips chemical plant including improvements to Sjolander Road. In addition,the Zone was reduced by 112 acres in 2014 (representing the entirety of the San Jacinto Mall)and simultaneously enlarged to include an additional 45 acres. The below map shows existing conditions of the Zone. fir ' r jA •.l,Cx - S^ J. /�r,/ � i pr 2L+tee[:F.•yron i•,Ivnon.:,>i Jry 'IL aq a5 .. Original Zone A•� �p r IN e I f rw [' I Map 1 3 of 10 City of Baytown TIRZ No.l 2015 Amendment The purpose of this 2015 Plan Amendment is to include a 79 acre tract of land along Wallisville Road that is intended to be used for residential development. The 79 acres of undeveloped land will be added to the Zone as shown below. Map 2 CITY OF BAYTOWN TIRZ 1 2015 Annex 79 Acres ra.eaw. .eta w TA n E rruttr ffJ : MY on*G• • - x rq d 9 fnt»MaU IW g A t.aig5t nmtPr 79 ACM Ttacl-N4lfisynEO Ro0d TIRZ No.1 cnsa�^ San Jadnto Blvd -, r - 0t 0S5 osr tMkt t x 4 of 10 City of Baytown TIRZ No.1 2015 Amendment II. PROPOSED CHANGES IN ZONING ORDINANCES,THE MASTER PLAN OF THE MUNICIPALITY, BUILDING CODES AND OTHER MUNICIPAL ORDINANCES There are no proposed changes to any city ordinance,master plan or building codes. III. LIST OF ESTIMATED NON-PROJECT COSTS The non-project costs are shown in Table A below. REINVESTMENT ZONE FINANCING PLAN I. A DETAILED LIST DESCRIBING THE ESTIMATED PROJECT COSTS OF THE ZONE,INCLUDING ADMINISTRATIVE EXPENSES Table A: Estimated Zone Project and Non-Project Costs for 79 acre Annexation Public Infrastructure Zone Project Non-Project. Costs Costs Costs Internal(Site Specific)Water,Sanitary Sewer,Drainage Costs(1) $2,715,016 $1,163,578 Detention Facilities(1) $1,337,651 $573,279 Offsite Utilities and Paving(2) $1,835,294 $0 Internal(Site Specific)Paving(3) $0 $3,025,928 Total Zone Project Costs $5,887,961 $4,762,785. (1) Per City TIRZ policy,internal utilities and drainage costs are eligible for TIRZ reimbursement at 70% (2) Per City TIRZ policy,offsite utilities and paving costs are eligible for TIRZ reimbursement at 100% (3) Per City TIRZ policy,internal paving costs are not eligible for TIRZ reimbursement There are no additional administrative expenses associated with the Plan Amendment. II. STATEMENT LISTING KIND, NUMBER AND LOCATION OF ALL PROPOSED PUBLIC WORKS OR PUBLIC IMPROVEMENTS IN THE ZONE Table A and Map 2 detail the location and kind of public works and improvements for the 79 acre annexation. III. ECONOMIC FEASIBILITY STUDY By adding the 79 acres,the Zone will be able to finance a portion of the water,wastewater, and drainage improvements for the planned residential development. Schedule A attached to this plan demonstrates economic feasibility(which constitutes an economic feasibility study). IV. THE ESTIMATED AMOUNT OF BONDED INDEBTEDNESS TO BE INCURRED The amount of bonds and bonded indebtedness will be a function of the availability of Zone revenues as estimated by Schedule A attached hereto. S of 10 City of Baytown TIRZ No.1 2015 Amendment V. THE TIME WHEN RELATED COSTS OR MONETARY OBLIGATIONS ARE TO BE INCURRED It is estimated that the water, wastewater, and drainage improvements will begin construction in 2015 and at which point the Zone would have incurred a monetary obligation associated with this plan amendment. VI. A DESCRIPTION OF THE METHODS OF FINANCING ALL ESTIMATED PROJECT COSTS AND THE EXPECTED SOURCES OF REVENUE TO FINANCE OR PAY PROJECT COSTS, INCLUDING THE PERCENTAGE OF TAX INCREMENT TO BE DERIVED FROM THE PROPERTY TAXES OF EACH TAXING UNIT THAT LEVIES TAXES ON REAL PROPERTY IN THE ZONE Description of the Methods of Financing Financing will come through tax increment revenues from the City of Baytown as a participant in the enlargement area of the Zone. Tax increment bonds will be issued as determined by the City and the Zone based on anticipated tax increment revenues. Sources of Tax Increment Revenue: The City of Baytown and will be a participant in the Zone enlargement and will participate according to the following table. INCREMENT DEDICATED TO THE ZONE Taxing Unit Tax Rate Dedicated City of Baytown 60%of Tax Rate Vill. THE CURRENT TOTAL APPRAISED VALUE OFTAXABLE REAL PROPERTY IN THE ZONE The total preliminary 2015 taxable value within the Zone is $183,163,746. This total excludes property values de-annexed in 2014. Additionally, a 2015 Base Value of the 79 acre tract of $197,080 will be added. IX. THE ESTIMATED CAPTURED APPRAISED VALUE OF THE ZONE DURING EACH YEAR OF ITS EXISTENCE The estimated captured appraised value of the Zone attributable to this plan amendment is shown in Schedule A attached to the rear of this document. X. DURATION OF THE ZONE The Zone exists through year 2044. 6 of 10 City of Baytown TIRZ No.1 2015 Amendment Appendix A Boundary Description TIRZ No.1—Addition of 79 acre tract City of Baytown, Harris County The area to be included in the City of Baytown Tax Increment Reinvestment Zone No. 1 is approximately 79 acres in size and is situated approx. 2,600 feet east northeast of the intersection of N. Main Street and E. Wallisville Road. A 79.090 acre, or 3,445,177 square feat more or less, tract of land, out of the George Ellis Survey, Abstract 21, Harris County, Texas and being the all of the remaining portion of the property described as the west 112 of Lot 9, out of the subdivision of the George Ellis League, recorded in Volume 72 Page 459 of the Deed Records of Harris County, Texas, and conveyed to South Houston Realty Company In Clerk's File No. Z053768 of the Harris County Official Public Records of Real Property. Sold 79.090 acre tract being more fully described as follows, with bearings bused on the exos Coordinate System established for the South Central Zone from the North American Datum of 19W NAD 83 (NA2011) epoch 2010.00, COMMENCING At a found 2 inch Iron pipe in the south right—of—way lime of Wallisvre Rood, a 60—foot wide county right—of—way as shown on the right—of—way map prepared April, 1940 under W.P.A. Official Project No. 65-1-66-2749, at the northwest comer of an 18.3105 acre portion of Lot 8 of sold subdivision of the George Ellis League, described in a deed recorded in Clerk's File Na 20140059056 of the Official Public Retards of Real Property of Harris County, Texcs; THENCE N 7746'48' E along and with the south right—of—way line of said Wallisville Road, o distance of 132d05 feet to a found 1 inch kon pipe on the common line between sold Lot 9 and said Lot 8, of the northeast comer of a 10.00 acre tract described in a dead recorded in Clerk's Fde Na 047360 of the Harris County Official Public Records of Real Property, for the northwest caner and POINT OF BEGINNING of the herein described 79.090 acres; THENCE N 77'46'48' & over and across said Lot 9, clang and with the south right—of—way fine of said Wallisville road c distance of 1320.00 feet to a set 3/4 inch iron rod with yellow cop marked 'Papa—Dawson". on the west line of a 40,14 acre portion of Lot 9, described in a deed recorded In Clerk's File No. 20070261884 of the Harris County Official Publics Records of Rea Property, from which a found 518 inch lion rod bears N 1639'59" E, a distance of 10.80 feet; THENCE., S 120957` E continuing over and across sold Lot 9, along and with the west line of sold 40.14 =a portion of Lot 9, passing a set 3/4 inch 'von rod with yellow cap marked 'Pop*—Dawson" at the northeast comer of a 2.74 acre Son Jacinto River Authority right—of--way easement, described in Clerk's File Na C341590 of the Harris County Dead Records at a distance of 2549.99 feet continuing along said west line, an additional distance of 60 fact, for o total distance of Z609.99 feet to a set 314 Inch iron rod with yrdlow cop marked 'Papa--Dowson" on the north line of a 116.00 acre tract of land described in a deed recorded in Clerk's File No. K185239 of the Harris County Deed Records, at the southwest comer of the sold 40.14 acre portion of Lot 9, the southeast comer of sold west- 1/2 of Lot 9, THENCE: S 77�4648' W, along and with the common line between sold 116.00 acre tract and said Lot 9, a distance of 1320.00 fact to a set 3/4 inch iron rod with yellow cap marked 'Pape—Dawson" at the common comer between said Lot 9, sold Lot 8, said 116.00 acre tract and a 4,13084 acre trod described in a deed recorded in Clerk's File Na TO86O62 of the Harris County Official Public Retards of Real Property, from which a set 314 inch iron red with yellow cop marked 'Pope—Dowsm" at the northwest toner of said San Jacinto River Authority right—of—way easement bears N 12V9'5Y W, a distance of 120.00 feet; THENCE N 120957" W, along and with the common line between said Lot 8 and sold Lot 9, passing a found 518 inch Iron rod at the southeast corner of a 13.5043 acre potion of sold Lot 8, described in a deed recorded In Clerk's File Na 20140049797 of the Harris County Official Publk; Records of Real Property, at a distance of 1OZ49 feel continuing along sold common llnq on additionot distance of 75ZO2 feat to a fond i inch iron pipe at the southeast comer of saki 10 ocre portion of Lot 8, continuing along said common line, on additional distance of 1750.48 feet, for a total distance of 2609.99 feet to the POINT OF BEGINNING of the herein described tract and containing 79.090 acres In Harris County, Texas. 7 of 10 City of Baytown TIRZ No.1 2015 Amendment BAYTOWN TIRZ � � ,1 � t 2015 EXPANSION - l% e r� Appendix A, cont. 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