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G-93-04-08-8A - 4/8/1993ORDINANCE NO. `-3 -0 a- 8/9 AN ORDINANCE DESIGNATING A CERTAIN AREA AS REINVESTMENT ZONE NO. FIVE FOR COMMERCIAL/INDUSTRIAL TAX ABATEMENT, CITY OF ROUND ROCK, TEXAS, ESTABLISHING THE BOUNDARIES THEREOF AND OTHER MATTERS RELATING THERETO. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF ROUND ROCK, TEXAS: WHEREAS, the City Council of the City of Round Rock, Texas (the "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 Chapter 312, Tax Code, V.A.T.S. (the "Code"); and WHEREAS, the City Council called a public hearing for 7:00 P.M. on the 8th day of April, 1993, to consider establishment of a reinvestment zone, such date being at least seven (7) days after the date of publication of the notice of such public hearing and the notification of other taxing jurisdictions as required by the Code; WHEREAS, the City held such public hearing after publishing notice of such public hearing, and giving written notice to all taxing units overlapping the territory inside the proposed reinvestment zone; and WHEREAS, the City at such hearing invited any interested persons to appear and contend for or against the creation of the reinvestment zone, the boundaries of the proposed reinvestment zone, whether all or part of the territory described in the Ordinance calling such hearing should be included in such proposed reinvestment zone, the concept of tax abatement; and WHEREAS, the proponents of the reinvestment zone offered evidence, both oral and documentary, in favor of all of the foregoing matters relating to the creation of the reinvestment zone, and 0 opponents of the reinvestment zone appeared to contest creation of the reinvestment zone; 1 NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF ROUND ROCK, TEXAS,THAT: SECTION 1: The facts and recitations contained in the preamble of this Ordinance are hereby found and declared to be true and correct. SECTION 2: The City Council, after conducting such hearings 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 hearings have been published as required by law and mailed to all taxing units overlapping the territory inside the proposed reinvestment zone; and (b) That the boundaries of the reinvestment zone should be the area as described as in Exhibit A, and (c) That creation of the reinvestment zone for commercial/industrial tax abatement with boundaries as described above will result in benefits to the City and to the land included in the zone and the improvements sought are feasible and practical; and (d) That the reinvestment zone as defined above meets the criteria for the creation of a reinvestment zone as set forth in Section 312.202 of the Code 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"; and 2 (e) That the reinvestment zone as defined above meets the criteria for the creation of a reinvestment zone as set forth in the City of Round Rock criteria and guidelines adopted by Ordinance No. 2556, on December 12th, 1991. SECTION 3: Pursuant to Section 312.201 of the Tax Code, V.A.T.S., the City hereby creates a reinvestment zone for commercial/industrial tax abatement encompassing only the area described in section 2 of this ordinance and such reinvestment zone is hereby designated as Reinvestment Zone No. Five, City of Round Rock, Texas. SECTION 4: The reinvestment zone shall take effect on January 1, 1994 and shall expire ten years after such date. SECTION 5: If any portion of this Ordinance shall, for any reason, be declared invalid by any court or competent jurisdiction, such invalidity shall not affect the remaining provisions hereof. Alternative 1. By motion duly made, seconded and passed with an affirmative vote of all the Council members present, the requirement for reading this Ordinance on two separate days was dispensed with. uv READ, PASSED, and ADOPTED on first reading this g day of � ,199 3 . Alternative 2. READ and APPROVED on first reading this the day of 199 READ, PASSED, and ADOPTED on second reading this the day of ,199 . 3 ATTEST: NNE LAND, City Secretary 714 MIKE ROBINSON, Mayor City of Round Rock, Texas 35.392 ACRES CORRIDOR PARK I ExHIBrr A DESCRIPTION FN NO. 93-056 (LRS) MARCH 25, 1993 BPI JOB NO. 551-01.92 PAGE 1 OF 2 OF A 35.392 ACRE TRACT OR PARCEL OF LAND OUT OF THE A. SPREECHER SURVEY NO. 101, ABSTRACT NO. 719, AND THE WILLIAM BRATTON SURVEY NO. 103, ABSTRACT NO. 100, SITUATED IN TRAVIS COUNTY, TEXAS, BEING A PORTION OF THE REMAINDER OF LOT 1, CORRIDOR PARK I, A SUBDIVISION OF RECORD IN BOOK 85, PAGES 65D -66B OF THE PLAT RECORDS OF TRAVIS COUNTY, TEXAS, THE SAID 35.392 ACRES BEING MORE PARTICULARLY DESCRIBED BY METES AND BOUNDS AS FOLLOWS: BEGINNING at a 1/2 inch iron rod found in the southerly right-of- way line of Jarrett Way, a dedicated public roadway (right-of-way 60 feet wide), for the most easterly, northeast corner of Lot 2 of the Resubdivision of Lot 1, Corridor Park I, a subdivision of record in Book 85, Pages 185C - 185D of the said Plat Records, same being the northwest corner of the easterly remainder of the said Lot 1, Corridor Park I; THENCE, along the south line of said Jarrett Way, same being the north line of the said easterly remainder of Lot 1, Corridor Park I, the following five (5) courses and distances: 1) S62°02'26"E, 554.18 feet to a 1/2 inch iron rod found for the point of curvature of a curve to the right; 2) along the said curve to the right having a radius of 270.00 feet, a central angle of 27°34'56", a chord distance of 128.73 feet (chord bears S48°14'27"E), an arc distance of 129.98 feet to a 1/2 inch iron rod found at the point of non -tangency; 3) S34°25'20"M passing 44.48 feet, a 1/2 inch iron rod found for the end of a curve return and the point of intersection with the westerly right-of-way line of Corridor Place, a dedicated public roadway (right-of-way 60 feet wide), the southerly portion of which is to be vacated, continuing across the said Corridor Place right-of-way, along the south line of said Jarrett Way, same being the north line of that portion of said Corridor Place which is to be vacated, for a total distance of 144.47 feet to a 1/2 inch iron rod found for the end of a curve return and the point of intersection with the east right-of-way line of said Corridor Place; 4) S34°27'45"E, 247.20 feet to a 1/2 inch iron rod found for the point of curvature of a curve to the left; 5) along the said curve to the left, having a radius of 330.00 feet, a central angle of 24°57'47", a chord distance of 142.64 feet (chord bears S46°56'36"E), an arc distance of 143.78 feet to a 1/2 inch iron rod found for the northwest corner Lot 1A of the Resubdivision of Lot 1, Corridor Park I, a subdivision of record in Book 85, Page 180B of the said Plat Records; THENCE, leaving the south line of said Jarrett Way, along the west and south lines of the said Lot 1A, the following two (2) courses and distances: 1) S28°22'08"W, 256.94 feet to a 1/2 inch iron rod found for the southwest corner of the said Lot 1A; 2) S54°15'54"E, 151.52 feet to a 1/2 inch iron rod found in the west right-of-way line of Bratton Lane, a public roadway (right-of-way varies), same being the east line of the said Lot 1, Corridor Park I, for the southeast corner of the said Lot 1A, same being the most easterly, northeast corner of the herein described tract; FN NO. 93-056 (LRS) MARCH 25, 1993 PAGE 2 THENCE, S28°22'32"W, along the west line of said Bratton Lane, same being the east line of the said Lot 1, a distance of 849.68 feet to a 5/8 inch iron rod found for the southeast corner of the said Lot 1, same being the northeast corner of that tract conveyed to Austin Raceway Development Co., by deed of record in Volume 5272, Page 1194 of the said Real Property Records; THENCE, N59°09'20"W, leaving the west line of said Bratton Lane, along the common line between the said Lot 1 and the said Austin Raceway Development Co. tracts, a distance of 1253.86 feet to a 5/8 inch iron rod found in the east line of Lot 20 of Northridge Acres No. 2, a subdivision of record in Book 4, Page 84, of the said Plat Records, for the most southerly, southwest corner of the said Lot 1 and the tract herein described; THENCE, N29°55'50"E, along the common line between the said Lot 1, Corridor Park I, and the said Lot 20, Northridge Acres No. 2, a distance of 271.36 feet to a 1/2 inch iron rod found for an angle point, same being the northeast corner of the said Lot 20, same being the southeast corner of Lot 7, Nichols Addition, a subdivision of record in book 60, Page 12 of the said Plat Records; THENCE, N30°10'29"E, continuing along the most southerly, west line of the said Lot 1, same being the east line of the said Lot 7, and the east line of the eastern terminus of Prairie Lane, and the east line of Lot 6 of the said Northridge Acres No. 2, a distance of 664.39 feet to a 1/2 inch iron rod found for an interior ell corner of the said Lot 1 and the herein described tract, same being the northeast corner of the said Lot 6, Northridge Acres No. 2; THENCE, N59°55'35"W, along the northwesterly, south line of the said Lot 1, Corridor Park I, same being the north line of Lot 6 of the said Northridge Acres No. 2, a distance of 90.32 feet, to a 1/2 inch iron rod set for the most southeasterly corner of the above mentioned Lot 2, Resubdivision of Lot 1, Corridor Park I; and an exterior ell corner of the herein described tract; THENCE, N28°09'59"E, leaving the north line of the said Lot 6, along the east line of the said Lot 2, Resubdivision of Lot 1, Corridor Park I, and across the said Lot 1, Corridor Park I, a distance of 374.84 feet to the POINT OF BEGINNING, containing 35.392 acres of land area, more or less, within these metes and bounds. STATE OF TEXAS COUNTY OF TRAVIS § § KNOW ALL BY THESE PRESENTS THAT I, LYNN R. SAVORY, A REGISTERED PROFESSIONAL LAND SURVEYOR, DO HEREBY CERTIFY THAT THE ABOVE DESCRIPTION IS, TRUE AND CORRECT TO THE BEST OF MY KNOWLEDGE AND BELIEF AND THAT THE PROPERTY DESCRIBED HEREIN WAS DETERMINED BY A SURVEY MADE ON THE GROUND UNDER MY DIRECTION AND SUPERVISION. WITNESS MY HAND AND SEAL AT AUSTIN, TRAVIS COUNTY, TEXAS THIS 25TH DAY OF MARCH, 1993 A.D. BURY & PITTMAN, INC. ENGINEERS -SURVEYORS LYNN R. SAVOY, R. 3345 BEE CAVES ROAD, SUITE 200 NO. 4598 AUSTIN, TEXAS 78746 STATE OF TEXAS DATE: April 6, 1993 SUBJECT: City Council Meeting, April 8, 1993 ITEM: 8.A. Consider an ordinance designating 35.392 acres of land out of the A. Spreecher Survey No. 101, Abstract 719 and the William Bratton Survey No. 103, Abstract 100, situated in Travis County being a portion of the remainder of Lot 1, Corridor Park I as Reinvestment Zone No. Five for commercial/industrial tax abatement. (First Reading) STAFF RESOURCE PERSON: STAFF RECOMMENDATION: ECONOMIC IMPACT: Joe Vining Approval None. However, any tax abatement agreement negotiated following the adoption of a reinvestment zone will have an economic impact. This impact will be outlined in detail when such tax abatement agreement is presented to Council.