HomeMy WebLinkAboutOrd 708-2015 Designating Tax Increment Reinvestment Zone #1 (TIRZ) Villages of Hurricane CreekCITY OF ANNA
ORDINANCE NO. 708-2015
(Villages of Hurricane Creek TIRZ)
AN ORDINANCE DESIGNATING A CERTAIN AREA AS TAX INCREMENT REINVESTMENT
ZONE NUMBER ONE, CITY OF ANNA, TEXAS, ESTABLISHING A BOARD OF DIRECTORS
FOR SUCH REINVESTMENT ZONE, MAKING CERTAIN FINDINGS, AND OTHER MATTERS
RELATED THERETO.
WHEREAS, the City Council of the City of Anna, Texas, (the "City"), desires to promote
the development of a certain contiguous geographic area within its jurisdiction by the creation of
a reinvestment zone, as authorized by the Tax Increment Financing Act, Chapter 311 of the
Texas Tax Code (the "Act"); and
WHEREAS, in compliance with the Act, the City has called a public hearing to hear
public comments on the creation of the proposed reinvestment zone and its benefits to the City
and the property in the proposed reinvestment zone; and
WHEREAS, in compliance with the Act, notice of such public hearing was published on
October 29, 2015, in the Anna Melissa Tribune, the designated paper of general circulation for
City notices, such publication date being not later than seven (7) days prior to the date of the
public hearing; and
WHEREAS, such hearing was convened at the time and place mentioned in the
published notice, to wit, on November 10, 2015 at 7:30 p.m. in the City Hall of the City of Anna,
Texas, which hearing was then held open and continued to December 8, 2015 at 7:30 p.m. in
the City Hall of the City of Anna, Texas, which hearing was then closed; and
WHEREAS, the City, at said hearings, invited any interested person, or his attorney, to
appear and speak for or against the creation of the reinvestment zone, the boundaries of the
proposed reinvestment zone, whether all or part of the territory which is described and attached
hereto as Exhibit "A" and depicted on the map attached hereto as Exhibit "B" should be included
in such proposed reinvestment zone, the concept of tax increment financing and the
appointment of a board of directors of the proposed reinvestment zone; and
WHEREAS, all owners of property located within the proposed reinvestment zone and
all other taxing units and other interested persons were given a reasonable opportunity at such
public hearing to protest the creation of the proposed reinvestment zone and/or the inclusion of
their property in such reinvestment zone; 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 opponents, if any, of the reinvestment zone appeared to contest creation of the zone;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
ANNA, TEXAS:
SECTION 1: That the facts and recitations contained in the preamble of this ordinance
are hereby found and declared to be true and correct and are incorporated herein by reference.
SECTION 2: That the City Council, after conducting such hearing and having heard
such evidence and testimony, has made the following findings and determinations based on the
evidence and testimony presented to it:
a) That the public hearing on adoption of the reinvestment zone has been properly
called, held and conducted and that notice of such hearing has been published as
required by law.
b) That creation of the proposed reinvestment zone with boundaries as described in
Exhibits "A" and "B" will result in benefits to the City, its residents and property
owners, in general, and to the property, residents and property owners in the
reinvestment zone.
c) That the reinvestment zone, as defined in Exhibits "A" and "B", meets the criteria for
the creation of a reinvestment zone set forth in the Act in that:
1. It is a contiguous geographic area located wholly within the corporate limits of
the City.
2. The area is predominately open, undeveloped or underdeveloped, and lack of
necessary public improvements impairs growth.
d) That 30 percent or less of the property in the proposed reinvestment zone, excluding
property dedicated to public use, is used for residential purposes, which is defined in
the Act as any property occupied by a house which has less than five living units.
e) That the total appraised value of all taxable real property in the proposed
reinvestment zone according to the most recent appraisal rolls of the City, together
with the total appraised value of taxable real property in all other existing
reinvestment zones within the City, according to the most recent appraisal rolls of the
City, does not exceed 50 percent of the current total appraised value of taxable real
property in the City and in the industrial districts created by the City, if any.
f) That the proposed reinvestment zone does not contain more than 50 percent of the
total appraised value of real property taxable by a county or school district.
g) That the improvements in the reinvestment zone will significantly enhance the value
of all taxable real property in the reinvestment zone.
h) That the development or redevelopment of the property in the proposed
reinvestment zone will not occur solely through private investment in the reasonable
foreseeable future.
SECTION 3: That the City hereby creates a reinvestment zone over the area described
in Exhibit "A" attached hereto and depicted in the map attached hereto as Exhibit "B" and
such reinvestment zone shall hereafter be identified as Tax Increment Reinvestment
Zone Number One, City of Anna, Texas (the "Zone" or "Reinvestment Zone").
SECTION 4: That there is hereby established a board of directors for the Zone that shall
consist of seven members. The board of directors of the Reinvestment Zone shall be
appointed as follows:
a) Seven members shall be appointed by the City Council of the City of Anna and one
member may be appointed by the Collin County Commissioners Court at such time
as Collin County may duly act to participate in the zone. The initial board of directors
shall be appointed by resolution within sixty (60) days of the passage of this
ordinance or within a reasonable time thereafter. All members appointed to the
board shall meet the eligibility requirements set forth in the Act. At this time
governing bodies of other taxing units that levy taxes on real property in Tax
Increment Financing Reinvestment Zone Number One have chosen not to pay any of
their taxes into the Tax Increment Fund and have waived their right to appoint board
members.
b) The terms of the board members shall be two-year terms. The City Council shall
designate a member of the board to serve as chairman and other officers as it sees
fit.
c) The board of directors shall make recommendations to the City Council concerning
the administration of the Zone. It shall prepare and adopt a project plan and
reinvestment zone financing plan for the Zone and must submit such plans to the
City Council for its approval. The Board of directors shall possess all powers
necessary to prepare, implement and monitor such project plan and financing plan
for the reinvestment zone as the City Council considers advisable, including the
submission of an annual report on the status of the Zone.
SECTION 5: The termination of the Zone shall occur on December 31, 2046, or at an
earlier time designated by subsequent ordinance of the City Council in the event the City
determines that the Zone should be terminated due to insufficient private investment,
accelerated private investment or other good cause, or at such time as all project costs
and tax increment bonds, if any, and the interest thereon, have been paid in full. Any
statutory or equitable right to terminate the Zone at any earlier date or to extend the term
is hereby reserved. Notwithstanding the foregoing, the termination of the Zone shall
occur at the earlier of any of the times set forth above in this section or at the time when
the Maximum TIRZ Contribution has been satisfied. For purposes of this section, the
term "Maximum TIRZ Contribution" has the same meaning as set forth in Article II of the
Villages of Hurricane Creek Subdivision Improvement Agreement, an agreement
originally entered into between the City and Villages of Hurricane Creek, LP, a Texas
limited partnership, Don Collins, an individual, Ted. K. Tedford, and individual, and Steve
Cameron, an individual, and having an effective date of March 11, 2015.
SECTION 6: That the Tax Increment Base for the Zone, which is the total taxable value
of all real property located in the Zone, is to be determined as of January 1, 2015, the
year in which the Zone was designated a reinvestment zone.
SECTION 7: That there is hereby created and established a Tax Increment Fund for the
Zone which may be divided into such subaccounts as may be authorized by subsequent
resolution or ordinance, into which all Tax Increments, less any of the amounts not
required to be paid into the Tax Increment Fund pursuant to the Act, are to be deposited.
The Tax Increment Fund and any subaccounts are to be maintained in an account at the
City Treasurer's affiliated depository bank of the City and shall be secured in the manner
prescribed by law for funds of Texas cities. In addition, all revenues from the sale of any
tax increment bonds and notes hereafter issued by the City, revenues from the sale of
any property acquired as part of the tax increment financing plan and other revenues to
be dedicated to and used in the Zone shall be deposited into such fund or subaccount
from which monies will be disbursed to pay project costs for the Zone or to satisfy the
claims of holders of tax increment bonds or other bonds or obligations issued for the
Zone. The first priority for the expenditure of Tax Increments shall be to pay for
administrative costs incurred in the creation and operation of the zone, including but not
limited to reimbursement to the City and/or its development corporations for eligible
expenditures.
SECTION 8: That if any section, paragraph, clause or provision of this Ordinance shall
for any reason be held to be invalid or unenforceable, the invalidity or unenforceability of
such section, paragraph, clause or provision shall not affect any of the remaining
provisions of this Ordinance.
SECTION 9: This Ordinance shall take effect immediately from and after its passage
and the publication of the caption, as the law and charter in such cases provide.
SECTION 10: That it is hereby officially found and determined that the meeting at which
this ordinance was passed was open to the public as required by law, and that public
notice of the time, place, and purpose of said meeting was given all as required by
Section 551.041, Texas Government Code.
PASSED by the City Council of the City of Anna, Texas this 8th day of December 2015.
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ATTEST:
r
Carrie L. Smith, City Secretary
APPROVED
Mike Crist, Mayor
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CITY OF ANNA
TAX INCREMENT REINVESTMENT ZONE NO. _
PRELIMINARY PROJECT AND FINANCING PLAN
December 3, 2015
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CITY OF ANNA
TAX INCREMENT REINVESTMENT ZONE No. _
PRELIMINARY PROJECT AND FINANCING PLAN
Table of Contents
I Executive Summary 1
II Assessment and Tax Collection Procedures 3
III Historical Appreciation in Taxable Values 9
IV Project Plan 11
V Financing Plan 14
VI Assumptions and Limitations 22
List of Appendix
Appendix A - Maps
Appendix B — Estimated Project Costs
Appendix C - Bond Debt Service Schedule
Appendix D — Projected Absorption
Appendix E — Projected Assessed Values
Appendix F — Projected Incremental Real Estate Taxes
Appendix G — Development Standards
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I. Executive Summary
PURPOSE OF TIRZ PROJECT AND FINANCING PLAN
The purpose of this plan is to provide estimates of real property tax increment revenues resulting
from the proposed Villages of Hurricane Creek development (the "Development") and
available to offset assessments to be levied for repaying bonds to be issued by the City of
Anna, Texas (the "City"). In particular, the study provides estimates of future real property tax
increment revenues generated by the property within the City of Anna Tax Increment
Reinvestment Zone No. _ (the "TIRZ").
As real property taxes are generated on an ad valorem basis from assessed values, it is first
necessary to estimate the future assessed value resulting from the TIRZ. This plan provides
assessed value information based on the following:
• The development is completed as proposed by CADG Hurricane Creek, LLC (the
"Developer");
• The units are sold according to the development pace estimated by the Developer, as
summarized in subsequent sections of this report;
• Property values are projected to increase at 1.89 percent annual rate of inflation through
estimated build out in 2026 as calculated based on the ten-year average growth rate of annual
average single family home prices between 2006 and 2015; and
• The real property tax rate remains static at the fiscal year 2015 level in future years.
ORGANIZATION OF TIRZ PLAN
This plan begins with a discussion of the assessment and tax collection procedures within the
City. Following this discussion is an analysis of historic appreciation of taxable values within
the City. The report continues with a project plan that includes a narrative description of the
TIRZ. Next, an account of the proposed development within the TIRZ, including an estimate of
the projected market and assessed values for the proposed properties, is provided.
The report continues with a calculation of real property tax increment revenues based on the
estimated assessed values in preceding sections of the report. Finally, the report provides
comprehensive projections of all estimated available revenue created by the TIRZ and shows the
estimated debt service coverage generated by this revenue.
RESULTS
In summary, the TIRZ financing analysis indicates that, assuming 1.89 percent annual inflation
through estimated buildout in 2026, the TIRZ is estimated to have an incremental value of
$264,349,727 million at the time of completion of all phases in 2026.
Table I -A provides the projected total and incremental assessed value for the District after the
projected build -out in 2026. Refer to Appendices E and F, attached hereto, for more information
on the projected incremental value for each year.
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TABLE I -A
Projected Assessed Values
Year
Projected Value
Base Value'
Incremental Value
2026
$264,349,727
($2,455,530)
$261,894,197
1 - The base value of $2,455,530 represents the 2015market value shown in CAD records.
The assessed values displayed in Table I -A are the basis for estimating incremental real
property taxes. The projected incremental taxes are shown in Table I -B. The project is
anticipated to be fully built out in calendar year 2026 and the related incremental taxes will
become fully available starting 2027.
TABLE I -B
Projected Incremental Taxes
Annual Incremental
Taxes at Build -out
Total Incremental
Taxes through 2045
$1,673,504
$39,730,436
Refer to Appendix F for projected tax increment revenues for each year. Estimates of annual debt
service coverage are included in Appendix C of this report.
The financing plan for the public improvements contemplates the issuance of special revenue
bonds by the City secured by special assessments on property within the Villages of Hurricane
Creek Public Improvement District ("PID Assessments"). The bonds secured by the PID
Assessments are referred to as the "PID Bonds" and are estimated to total $17,000,000 in bond
par amounts.
The TIRZ Project Costs represent a portion of the total public improvements to be funded with
the PID Bonds. As a result, real property tax increment revenues are intended to pay an equivalent
portion the debt service on the PID Bonds and will be applied as discussed more fully in PID
Service and Assessment Plan.
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IL Assessment and Tax Collection Procedures
ASSESSMENT PROCEDURES
Overview
Pursuant to Texas Tax Code, all taxable property is appraised at its market value as of January 1
of each year. Each County in Texas is served by an appraisal district, which determines the value
of all of the county's taxable property. Generally, local governments that collect property taxes,
such as counties, cities and school districts, are members of the appraisal district.
Methodology
The appraisal districts use different valuation methods depending on property type and
circumstances. A brief description of these methods follows.
Cost Approach — As the name implies, the cost approach values property on the basis of the
costs of development. The value of a structure is determined by estimating the cost to replace
the building with a new structure and then subtracting depreciation. This method assumes the
cost of replacing the existing building plus the value of the land equals market value. The steps
in applying the cost approach include:
• Estimating the site value (land and site improvements) through review of comparable
sales;
• Estimating the cost of replacing the existing building with one of similar usefulness
(reflecting current building design and materials); and
• Deducting all sources of depreciation, including physical deterioration ("wear and tear"
on a building) and functional and economic obsolescence. Functional obsolescence is the
reduced ability of the building to perform the function it was originally designed and built
for. Economic obsolescence refers to external forces that affect the ability of the building
to continue to perform, such as changes in transportation corridors and new types of
building design demanded by the market.
The cost approach is relied upon most often when the property being appraised is new or nearly
new and income is not yet stabilized, where there are no comparable sales, or where the
improvements are relatively unique or specialized.
Market Data Comparison Approach — The market data comparison approach is based on the
premise that the value of a specific property is set by the price an informed purchaser would pay
for a comparable property, offering similar desirability and usefulness. For instance, if recent
sales of condominium units within the same building indicate an increase in market values, all
assessed values for condominiums in the building will be reassessed to reflect this increase in
market value. This requires an understanding and comparison of market variables, such as
location, property size, physical features and economic factors. The process of identifying and
analyzing comparable property sales is repeated until a satisfactory range of value indicators for
the subject property is established and a final estimate of value is possible. The limitations of the
sales comparison approach are that it requires recent sales data for similar properties. The
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sales comparison approach is relied upon most often for appraising the sale of residential property
and is most likely to be relevant for the proposed residential development in the TIRZ.
According to the Collin Central Appraisal District ("CAD"), properties developed in new
subdivisions are typically appraised based on the sales price of the new homes developed in the
subdivisions using a market comparison approach to value.
Income Approach — The income approach to value is based on the premise that the value of a
property is directly related to the income it will generate. The appraisal districts analyze both
the property's ability to produce future income and its expenses, and based on projected
new income, estimates the property's value. The appraiser develops a capitalization rate by
analyzing the sales of similar income properties and determining the relationship between the sale
price and net income.
The steps in applying the income capitalization approach are to determine the stabilized, net -
operating income by:
• Estimating potential gross income from all sources;
• Deducting an allowance for vacancy and bad debts; and
• Deducting all direct and indirect operating expenses.
The resulting net operating income is capitalized by a market rate, which reflects the property
type and effective date of valuation to produce an estimate of overall property value.
To determine the effective gross income, the appraiser estimates market rents by analyzing
rents, both within the property being assessed and in comparable properties in the neighborhood,
and making an allowance for vacancy and collection loss. Net operating income is estimated by
deducting operating expenses.
The appraiser typically determines the capitalization rate by analyzing sales (comparing net
operating income to sale price) in the same market for similar properties to determine
the ratio of net operating income to sales price. The capitalization rate will vary depending on
the attractiveness of a property as an investment, income risks and physical factors, among other
factors. In the absence of sufficient sales data, the appraisal districts may use standard industry
rates as generated by other sources to determine cap rates.
The income approach is relied upon most often when appraising properties that produce a rental
income from single or multiple tenants. The capitalized value of the income stream provides an
estimate of the market value of the property (land and improvements).
An appraisal district may use any of the three common methods to value property. The
legislature also authorizes appraisal districts to use a method called mass appraisal to calculate
the value of a large number of similar properties. According to Section 23.01(b) of the Texas
Property Tax Code:
if the appraisal district determines the appraised value of a property using mass appraisal
standards, the mass appraisal standards must comply with the Uniform Standards of
Professional Appraisal Practice. The same or similar appraisal methods and techniques shall
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be used in appraising the same or similar kinds of property. However, each property shall be
appraised based upon the individual characteristics that affect the property's market value,
and all available evidence that is specific to the value of the property shall be taken into
account in determining the property's market value.
Appeals
According to the CAD, property owners may utilize the CAD appeal procedures if they have a
concern about:
• the market or appraised value of the property;
• unequal appraisal of the property compared to other properties;
• the inclusion of the property on the appraisal roll;
• any exemptions that may apply to the property owner;
• the qualification for an agricultural or timber appraisal;
• the taxable status of the property;
• the local governments which should be taxing the property;
• the ownership of property;
• a change of use of land receiving special appraisal;
• any action taken by the chief appraiser, CAD or Appraisal Review Board ("ARB") that
applies to and adversely affects the property.
If property owners cannot resolve their concern informally with the CAD staff, they may have
their cases heard by the ARB. The ARB is an independent board of citizens that review problems
with appraisals or other concerns listed above. It has the power to order the CAD to make the
necessary changes to solve problems. If a property owner files a written request for an ARB
hearing (called a notice of protest) on or before May 31 (or 30 days after the notice of appraised
value was mailed to the property owner, whichever is later), the ARB will set the case for a
hearing. The property owner will receive written notice of the time, date, and place of the
hearing. After it decides the case, the ARB must send them a copy of its order by certified mail.
If the property owner is not satisfied with the decision, it has the right to appeal. If it chooses to
go to court, the property owner must start the process by filing a petition within 60 days of
the date it receives the ARB's order. In certain cases, as an alternative to filing an appeal in
district court, the property owner may file not later than the 45th day after it receives notice of
the ARB order a request for binding arbitration with the CAD. In certain cases originating in
certain counties, as an alternative to filing an appeal in district court, the property owner may
appeal to the State Office of Administrative Hearings (SOAH). An appeal to SOAH is initiated
by not later than the 30th day after the property owner receives notice of the ARB's order by
filing with the chief appraiser of the CAD a notice of appeal. CAD also takes a similar approach.
TAXATION PROCEDURES
Timeline
The assessment and property tax process for each tax year includes the following steps:
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Dates Event
January 1 CADS are required to appraise property on this date. A lien attaches to
each taxable property to ensure property tax payment.
January 1 - April 30 CAD completes appraisals and processes applications for exemptions.
April - May Appraisal districts send notices of appraised value.
May 1 Appraisal review board begins hearing protests from property owners.
July 1 Local taxing units may impose additional penalties for legal costs related
to collecting unpaid taxes.
August - September Local taxing units adopt tax rates.
October 1 Local taxing units (or county tax assessor -collector, acting on their
behalf) begin sending tax bills to property owners.
January 31 Taxes due to local taxing units (or county tax assessor -collector, if acting
on their behalf).
February 1 Local taxing units begin charging penalty and interest for unpaid tax
bills.
Penalties and Interest
According to the Collin County Tax Collector's offices, If taxes are not paid by January 31St,
penalties and interest will accrue are follows:
If tax paid in:
Penalty
_
Interest _
Total
February
6%
+
1%
= 7%
March
7%
+
2%
= 9%
April
8%
+
3%
= 11%
May
9%
+
4%
= 13%
June
10%
+
5%
= 15%
July
12%
+
6%
= 18%
Penalties reach a maximum of 12% and interest of 1% is added each month after the due date. All
real property accounts not paid in full by June 30th of the year in which they become delinquent
will be referred to the delinquent tax attorney for enforced collection and will incur an additional
penalty equal to 15% - 20% of the total taxes, penalties, and interest due.
Historical Levy and Collection Summary
According to City records, on average 97 percent of real property taxes were paid within the
fiscal year they were levied from 2006 to 2014, as shown below in Table II -A.
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TABLE II -A
Summary of Levy and collections
Year
Total Tax
Levy'
Collected within the
Fiscal Year of the Levy
Amount' Percentage
Collections
in
subsequent
Years2
2006
$1,186,370
$1,132,491
95.46%
$53,879
2007
$1,541,817
$1,494,560
96.93%
$47,257
2008
$2,038,288
$1,963,103
96.31%
$75,185
2009
$2,247,895
$2,189,575
97.41%
$58,320
2010
$2,407,914
$2,344,075
97.35%
$63,839
2011
$2,418,445
$2,340,959
96.80%
$77,486
2012
$2,346,442
$2,275,419
96.97%
$71,023
2013
$2,483,857
$2,436,406
98.09%
$47,451
2014
$2,807,140
$2,757,013
98.21%$50,127
Source: City of Anna audited financial statements
1— Amounts reported as property tax revenue in the city audited financial statements.
2 — Amounts reported as property taxes receivable as of the end of each year.
3 — Amounts calculated as the difference between property tax revenues and property taxes
receivable as of the end of each fiscal year.
Tax Sale
According to the Collin County Tax Collector's website, tax sales are held once orders of sale are
issued from the district courts in reference to tax judgments for delinquent taxes. Real property
being sold as a result of a foreclosure to satisfy delinquent taxes is required by Texas law to be
sold on the first Tuesday of the month. All counties have sales on the same day.
Tax Rates
Tax rates are set on an annual basis by the City. For fiscal year 2015, the real property tax rate in
the City is $0.639000 per $100 of assessed value.
City tax rates have fluctuated in past years. It is likely that the tax rate will continue to change
overtime; for purposes of this study, however, it is assumed that the tax rate will remain at its
current level in future years. The City intends to apply approximately 50 percent of the
incremental taxes generated from the development of the property in the PID, which property is
also contained in the TIRZ, for the repayment of a portion of the PID Bonds issued to finance the
improvements referenced in this Project and Finance Plan.
Table II -B provides historical tax rates in the City from fiscal years 2006 to 2015.
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TABLE II -B
City of Anna Historical Tax Rates 2006-2015
Tax Year
City Tax Rate Per $100
Assessed Value
2006
$0.525000
2007
$0.575000
2008
$0.575000
2009
$0.622733
2010
$0.650332
2011
$0.650332
2012
$0.650332
2013
$0.650332
2014
$0.649000
2015
$0.639000
Source: CAD historical tax rates summary
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III. Historical Appreciation in Taxable Values
Property values typically appreciate over time. The City total taxable assessed value (TAV)
information from 2006 to 2015, as shown in the CAD certified totals for tax years 2006 through
2015, indicate that the aggregate TAV for single family homes has increased from year to year
except in 2010 through 2012.
Table III -A shows the average annual appreciation of assessed values in the City from 2006 to
2015. The percentage growth in any given year indicates the appreciation over the prior year and is
not cumulative.
TABLE I11 -A
Historical Appreciation in Values
Year
Single
Family (SF)
Homes TAV
New
construction
SF Homes
TAV
Net Existing
SF Homes
TAV
Growth %
Total SF
Homes
Average
Home
Value
Growth %
2006
$199,527,259
$31,604,670
$167,922,589
1984
$100,568
2007
$263,024,626
$28,471,493
$234,553,133
18.19%
2287
$115,009
6.94%
2008
$296,002,445
$11,862,915
$284,139,530
10.06%
2488
$118,972
1.71%
2009
$295,837,682
$5,897,500
$289,940,182
1.02%
2584
$114,488
-1.90%
2010
$288,215,832
$979,167
$287,236,665
-0.47%
2615
$1109216
-1.88%
2011
$282,164,842
$899,486
$281,265,356
-1.04%
2653
$106,357
-1.77%
2012
$287,226,986
$6,014,449
$281,212,537
-0.01%
2859
$100,464
-2.81%
2013
$331,222,971
$21,688,228
$309,534,743
4.91%
3126
$105,957
2.70%
2014
$419,875,700
$30,278,959
$389,596,741
12.19%
3483
$120,550
6.66%
2015
$509,719,967
$36,441,651
$473,278,316
10.22%
3666
$139,040
7.40%
10 -Yr Averages
6.12%
1.89%
CAGR - 10 Yr
9.83%
10.92%
3.29%
CAGR -5Yr
12.56%
10.91%
5.51%
CAGR - 3 Yr
15.45%
15.20%
9.48%
Source — Collin CAD certified totals for tax years 2006 through 2015.
Based on the annual appreciation rates shown in Table III -A, the 10 -yr average annual growth
rate of average home values from 2006 to 2015 is approximately 1.89 percent, the compound
annual growth rate of average home values from 2006 to 2015 is approximately 3.29 percent, the
compound annual growth rate of average home values from 2011 to 2015 is approximately 5.51
percent and the compound growth rate of average home values from 2013 to 2015 is equal to 9.48
percent. A future annual appreciation rate of 1.89 percent for all property, representing the lowest
average growth rate computed using the three different value estimation bases shown in Table III-
A (total TAV of single family homes, total TAV of single family homes net of new construction
value and average home values) has been used for this study to project future appreciated assessed
values through estimated build out in 2026 and the estimated home values are held constant after
9
Draft
build out. Based on the historic trends outlined in this section, this rate is believed to be
conservative.
10
Draft
IV. Project Plan
Pursuant to Ordinance No. (the "TIRZ Ordinance"), the City created Reinvestment Zone
No. _, City of Anna, Texas as a TIRZ under the provisions of Chapter 311 of the Texas Tax
Code, as amended. The land within the TIRZ is comprised of approximately 368 acres and is
coterminous with the land within the PID.
As more fully described in subsequent sections of this report, approximately 654 residential
units are planned for the TIRZ. The City is planning to issue bonds for the purpose of
financing public improvements necessary for the improvements in the PID.
Tax increment financing is a redevelopment and financing tool by which governments can
provide financial assistance to fund infrastructure for eligible public and private redevelopment
efforts within an officially designated area of the development. Increases in property tax
revenues, which are generated primarily from new investment in the TIRZ, are allocated to pay
debt service on debt issued to pay for such infrastructure costs within the TIRZ.
LOCATION
The TIRZ is approximately 45 miles from Dallas, Texas, and approximately 70 miles from Fort
Worth, Texas. A map and metes and bounds of the TIRZ, as well as the corresponding proposed
development, are included as Appendix A to this Plan.
ECONOMIC AND DEMOGRAPHIC INFORMATION
According to the City website, the City is located on State Highway 5, Farm Road 455, and U.S.
Highway 75 eleven miles northeast of McKinney in north central Collin County.
According to City -Data, the population of the City has grown by approximately 27.6 percent
between 2010 and 2014 (US Census Bureau quick facts). According to City -Data, the average
unemployment rate of the City was 5 percent, compared to 5.5 percent for the State of Texas and
5.3 percent nationally (City-Data.com/city/Anna-Texas; Bureau of Labor Statistics) for June 2014.
The 2013 median household income for the City was $66,243 and the median home price
was $137,315, compared to the 2013 median household income of $51,704 and the median
home price of $132,000 for the State of Texas (City-Data.com/city/Anna-Texas).
EXISTING USES OF PROPERTY
According to the Developer and CAD records, the property within the TIRZ boundary is
classified as of January 1, 2015 under agricultural land use.
A site map showing the current uses of the property is included as Appendix A to this plan.
PROPOSED DEVELOPMENT
The TIRZ is proposed to be developed as a residential development with 654 residential units and
is proposed to include four types of single family residential lots. The property in the TIRZ is
11
Draft
anticipated to be developed into 49 100 -ft lots, 55 90 -foot lots, 185 80 -foot lots and 365 70 -foot
lots to be developed in approximately three phases. Table IV -A summarizes the projected
development of the TIRZ. Detailed estimation of absorption for the development as provided by
the Developer on an annual basis is shown in Appendix D attached hereto.
Appendix A at the end of this section provides a concept plan for the proposed development
within the TIRZ.
TABLE IV -A
Summary of Proposed Development
Proposed Lot Type
Quantity
100 Ft Lots
49 units
90 Ft Lots
55 units
80 Ft Lots
185 units
70 Ft Lots
365 units
Total
654 units
Table IV -B below shows the proposed residential development within Phase 1.
Table IV -B
Proposed Development —Phase 1
Proposed Lot Type
Quantity
90 Ft Lots
19 units
80 Ft Lots
103 units
70 Ft Lots
85 units
Total
207 units
Table IV -C on the following page shows the proposed residential lot types within the remaining
future phases.
Table IV -C
Proposed Development — Future Phases other than Phase 1
Proposed Lot Type
Quantity
100 Ft Lots
49 units
90 Ft Lots
36 units
80 Ft Lots
82 units
70 Ft Lots
280 units
Total
447 units
12
Draft
PROPOSED CHANGES
Details regarding the proposed zoning for the development, which are included in the Subdivision
Improvement Agreement between the Developer and the City (the "Subdivision Improvement
Agreement") dated as of March 11, 2015, are shown as Appendix G to this plan.
ESTIMATED NONPROJECT COSTS
According to the project engineer, the total estimated amount of improvements planned to be
constructed for the development is $45,407,244. As shown in Table V-A of this Project and
Finance Plan, the total estimated amount of Project Costs eligible for TIRZ incremental revenue
financing is $11,395,326. As a result, the total amount of public improvement costs that are not
eligible for TIRZ incremental revenue financing ("Nonproject Costs") is estimated to be
$34,011,918. Table IV -D shows a detailed list of these Nonproject Costs for public improvements
as provided by the project engineer.
Table IV -D
Estimated Nonproject Costs
1 — The Project Costs shown here include the estimated Developer funded portion of $485,663. See Table V-A for details.
METHOD OF RELOCATION
The proposed development is being developed on vacant land. Accordingly, there are no persons
to be relocated as a result of implementing the plan.
13
Total
Description
Estimated Costs
Improvements:
Road Improvements
$16,487,798
Water Distribution System Improvements
$2,579,602
Sanitary Sewer Collection System Improvements
$7,093,708
Storm Drainage Collection System Improvements
$1,520,401
Other Costs
$11,919,282
Subtotal: Estimated improvement costs
$39,600,791
Soft costs including engineering and testing
$337,515
estimated bond issuance costs details in Appendix B
$5,468,938
Subtotal: Estimated soft costs
$5,806,453
Grand Total Improvement + Soft Costs
$45,407,244
Less: Project Costs,
($11,395,326)
Total Nonproject Costs
$34,011,918
1 — The Project Costs shown here include the estimated Developer funded portion of $485,663. See Table V-A for details.
METHOD OF RELOCATION
The proposed development is being developed on vacant land. Accordingly, there are no persons
to be relocated as a result of implementing the plan.
13
Draft
V. Financing Plan
PROJECT COSTS
Section 311.002 of the Tax Increment Financing Act defines project costs as "the expenditures
made or estimated to be made and monetary obligations incurred or estimated to be incurred by the
municipality or county designating a reinvestment zone that are listed in the project plan as costs of
public works, public improvements, programs, or other projects benefiting the zone, plus other costs
incidental to those expenditures and obligations." Project costs include:
(A) capital costs, including the actual costs of the acquisition and construction of public works,
public improvements, new buildings, structures, and fixtures; the actual costs of the acquisition,
demolition, alteration, remodeling, repair, or reconstruction of existing buildings, structures, and
fixtures; the actual costs of the remediation of conditions that contaminate public or private
land or buildings; the actual costs of the preservation of the facade of a public or private
building; the actual costs of the demolition of public or private buildings; and the actual costs of
the acquisition of land and equipment and the clearing and grading of land;
(B) financing costs, including all interest paid to holders of evidences of indebtedness or other
obligations issued to pay for project costs and any premium paid over the principal amount of
the obligations because of the redemption of the obligations before maturity;
(C) real property assembly costs;
(D) professional service costs, including those incurred for architectural, planning, engineering, and
legal advice and services;
(E) imputed administrative costs, including reasonable charges for the time spent by employees of
the municipality or county in connection with the implementation of a project plan;
(F) relocation costs;
(G) organizational costs, including the costs of conducting environmental impact studies or other
studies, the cost of publicizing the creation of the zone, and the cost of implementing the project
plan for the zone;
(H) interest before and during construction and for one year after completion of construction,
whether or not capitalized;
(I) the cost of operating the reinvestment zone and project facilities;
(J) the amount of any contributions made by the municipality or county from general revenue
for the implementation of the project plan;
(K) the costs of school buildings, other educational buildings, other educational facilities,
or other buildings owned by or on behalf of a school district, community college district, or
other political subdivision of this state; and
(L) payments made at the discretion of the governing body of the municipality or county that the
14
Draft
governing body finds necessary or convenient to the creation of the zone or to the
implementation of the project plans for the zone.
The estimated project costs for the development are presented in Table V-A below. The detailed
project costs are presented in Appendix C of this plan.
Table V-A
Estimated TIRZ Project Costs
Project Costs
Total Estimated
Project Costs
Road Improvements
$5,567,504
Water Distribution System Improvements
$248,543
Sanitary Sewer Collection System Improvements
$2,069,616
Less: Developer funded portion
($485,663)
Subtotal:
$7,400,000
Other estimated bond issuance related costs (details in
Appendix B)
$3,509,663
Total Estimated Project Costs
$10,909,663
According to the Subdivision Improvement Agreement between the Developer and the City, the total
construction cost portion of the Project Costs to be funded with the TIRZ increments is limited to
$7,400,000. As a result, the total Project Costs eligible for TIRZ financing is equal to $10,909,663
($7,400,000 + $3,509,663). Appendix F shows the estimated net bond debt service obligation related
to the Project Costs is estimated to be $26,973,218. According to the Subdivision Improvement
Agreement, the maximum amount of City commitments as TIRZ contribution is set not to exceed
$21,048,883. See Appendix F for detailed calculations of these amounts.
DESCRIPTION OF TIRZ PROJECTS
The public improvements to be financed as TIRZ Projects include roadway, water and sewer
improvements along FM 455, roadway, water and sewer improvements related to four collector roads,
gravity mains, lift stations and trunk improvements detailed in Appendix B. The estimated costs of
the TIRZ Projects eligible for financing through TIRZ incremental revenues are shown in Table V-A.
The costs shown are estimates and may be revised in the future, including the addition of such other
improvements as deemed necessary to further improve the properties within the TIRZ.
METHOD OF FINANCING
On February 24, 2015, the City of Anna City Council passed and approved Resolution No. 2015-
02.13 approving and authorizing the creation of the PID to finance the costs of certain public
improvements for the benefit of property in the PID, all of which is within the City. The PID and
the TIRZ boundaries are coterminous.
The property in the PID is proposed to be developed in approximately three phases, and the PID will
finance improvements for each phase as each phase is developed. Assessments will be imposed on
15
Draft
the all property in the PID for the improvements that benefit the entire PID and on the property in
each phase for the public improvements to be provided for that phase. As described in the Service and
Assessment Plan of the PID (the "SAP"), the City will issue bonds (the "PID Bonds") in order to
finance the improvements. The PID Bonds will be issued to finance the project costs shown in Table
V-A.
The City intends to apply approximately 50 percent of the incremental taxes generated from the
development of the property in the PID, which property is also contained in the TIRZ, for the
repayment of a portion of the PID Bonds issued to finance the improvements referenced in this
Project and Finance Plan.
The City has agreed to use TIRZ Revenues generated from each Parcel within the TIRZ to offset a
portion of the PID Annual Installment on the parcel for the Project Costs (the "TIRZ Credit"). The
PID Annual Installment for each Parcel shall be calculated by taking into consideration any TIRZ
Credit applicable to each respective Parcel.
ESTIMATED BONDED INDEBTEDNESS
The project costs are anticipated to be financed with PID Bonds, which may be issued in multiple
series.
Table V -B below shows the estimated sources and uses of the PID Bonds. The detailed estimated
annual PID Bond debt service schedule and the prorated debt service schedule related to the Project
Costs are shown in Appendix C to this plan.
Table V -B
Estimated Sources and Uses — PID Bonds
16
PID Bonds
City Major
Other Major
Sources of Funds
Improvements
Improvements
Total
Estimated Bond paramount
$10,909,663
$6,090,337
$17,000,000
Total Sources
$10,909,663
$6,090,337
$17,000,000
Uses of Funds
Maior Improvements
Road improvements
$5,224,612
$1,982,947
$6,501,891
Water distribution system improvements
$233,236
$158,806
$248,543
Sanitary sewer improvements
$1,942,152
$246,399
$4,443,113
Storm drainage improvements
$0
$0
$0
Other soft and miscellaneous costs
$0
$395,933
$337,515
Subtotal
$7,400,000
$2,784,085
$11,531,062
Estimated Bond issue costs
$3,509,663
$1,959,275
$5,468,938
Total Uses
$10,909,663
$4,743,360
$17,000,000
16
Draft
ESTIMATED TIME OF EXPENDITURE
Total public improvement costs in the estimated amount of $45,407,244 including the total Project
Costs, are anticipated to be expended beginning 2016 through 2023.
CURRENT TOTAL APPRAISED VALUES
According to the Developer, there are five current parcels within the TIRZ boundary. According to
the Collin CAD records, the 2015 total market value for the three parcels is $2,455,530. The total
acreage of the three current parcels is 368 acres.
Table V -C
Current (2015) AUpraised Values
Parcel ID
Acreage
2015
Assessed Value'
Collin County
2719039
181.89
$0
1001356
32.90
$493,455
2719040
22.28
$0
1007412
58.00
$870,000
2518072
73.96
$1,092,075
Total
369.03
$2,455,530
1 —The 2015 assessed value represents the 2015 market value shown in the
Collin CAD records for the parcels, although the parcels are classified as
agricultural use.
DURATION OF THE TIRZ
The TIRZ will last for a total of 30 years or until the estimated maximum amount of $21,048,883
representing the prorated amount of total bond obligations related to the TIRZ Project Costs is
expended, whichever occurs earlier. See Appendix C for the detailed calculation of the prorated
amount of total bond obligations.
PROJECTED MARKET AND ASSESSED VALUE
As described in the discussion on assessment procedures in the appraisal district, assessed values are
based on values as appraised by CAD, which, in turn, are meant to represent fair market value of the
properties. Different property types may be appraised using different methods, as described in
Section II of this report. This section of the report includes the estimated assessed value and an
explanation of the methodology used for each of the proposed development types of the TIRZ.
Assumptions
The properties are first assumed to be on the tax roll as developed property based on estimates of
when the property will be substantially completed. No interim construction values are estimated in
this report. For each property type, this study estimates future absorption based on the projected
absorption as provided in the Developer's pro forma.
17
Draft
As stated in Section V, the development plan for the District includes approximately 654 residential
units. Based on the projected absorption from the developer's pro forma provided to the City, this
plan assumes that the residential development will be built -out beginning in 2017 and continuing
through 2026.
For purposes of this plan, it is assumed that the project is absorbed at the pace contemplated by the
Developer. According to the Developer, the sale of residential units is expected to start in 2017 and
continue until the units are fully absorbed by 2026. Accordingly, the residential units are assumed to
appear in the tax roll starting January 2018. Refer to Appendix D for detailed annual absorption
figures.
PROJECTED BASE SALES PRICES
The projected average base homes prices for the residential units in the development as estimated by
the developer are shown in Table V -D.
TABLE V -D
Base Asking Price Per Unit
Project/Building
Units
Price Per Unit
100 ft residential units
49
$475,000
90 ft residential units
85
$427,500
80 ft residential units
185
$380,000
70 ft residential units
365
$332,500
Total
654
Source: the lot type, estimated units and projected asking prices are provided by the Developer.
While it is possible that home buyers might negotiate the asking price, it is also believed that any
discount from the base price will be offset by charges for buyer options such as exterior and interior
finish upgrades, premium lot locations, and other potential upgrades. Therefore, this study
assumes that units at the subject site achieve the average base asking average prices per unit shown in
Table V -E.
PROJECTED MARKET AND ASSESSED VALUE
Based on the projected development and estimated home base asking price per unit outlined in Table
V -D, the total projected assessed value for the development is shown in Table V -E. The total values
shown in these tables assume full build -out and stabilized values using 2015 dollars. Detailed
calculations of values are shown in the attached Appendices G at completion in tax year 2026. This
study assumes an inflation rate of 1.89 percent based on the 10 -year average annual growth rate
of average home values calculated and shown in Table III -A in order to account for the effect of
market appreciation.
INCREMENTAL ASSESSED VALUES
18
Draft
As described in Section II of this Plan, the State of Texas mandates that property must be assessed
at its market value. Projected incremental assessed value at full build -out is shown in Table V -E.
TABLE V -E
Projected Incremental Values at Full Build -Out
Estimated Build out Year
Projected Value
Base Value
Incremental Value
2026
$264,349,727
($2,455,530)
$261,894,197
Detailed calculations of incremental values are included in Appendices E and F to this plan.
CALCULATION OF INCREMENTAL TAX REVENUE
The increase in property value created within the TIRZ will produce additional real property taxes.
In accordance with Texas statute, this incremental revenue is calculated by subtracting the base
value from the new total assessed value to get the net incremental value, which is then multiplied
by the applicable tax rate to determine the incremental tax revenue. Currently, the tax rate for the
City is $0.639000 per $100 assessed value, as described in Section II of this report.
The aggregate base value for properties located within the TIRZ is $2,455,530 based on the 2015
market values of the parcels in the TIRZ shown in the CAD records. At completion of the
development, the property in the TIRZ is estimated to have an assessed value of $264,349,727 in
2026 using an assumed inflation rate of 1.89 percent per year through 2026. Incremental value is,
therefore, estimated to be $261,894,197.
Total projected incremental taxes are as shown in the following calculations.
(Incremental Assessed Value) - 100 x (Tax Rate) = Incremental Real Property Tax
$261,894,197 - 100 x $0.639000 = $1,673,504
Appendices E and F include detailed calculations of projected incremental taxes.
Section II of this report describes various exemptions and credits that are available to certain
properties within the City. For the purposes of this report, no credits are assumed to pertain to the
property within the TIRZ. Therefore, total estimated tax increment revenues at full build -out of
Phase 1 are as shown in Table V -F.
TABLE V -F
Projected Incremental Taxes
Annual Incremental Taxes at Cumulative Total Through
Build out Build -Out 1 Calendar Year 2045
Year
2026 $1,673,504 $39,730,436
'Scenarios A and B assume full build -out in calendar year 2026-27.
19
Draft
Detailed calculations of these figures are included in the attached Appendices E and F.
Pursuant to the TIRZ ordinance, the City has committed to use 50 percent of the incremental taxes
for the payment of a portion of the debt service on the PID Bonds that have been issued to finance
the projects described in this Project and Finance Plan. As a result, the total estimated tax increment
revenues available for the payment of debt service at full build -out are as shown below in
Table V -G.
TABLE V -G
Proiected Incremental Taxes
Available for TIRZ Projects
Annual Annual Incremental Taxes
Incremental available for payment of
Build out Year Taxes at PID Bond
Build -Out debt service Payment
2026-27 $1,673,504 $19,865,218
PLAN FEASIBILITY
As explained in the previous sections of this plan, the development is proposed to be developed
on a vacant land. As shown in Table V -D, the current aggregate assessed value of the property in
the development is $2,455,530 (shown as market value in the CAD records).
Projected Absorption and Projected Build -out Total Home Values
The development is projected to be fully built -out by 2026-27 based on the preliminary
absorption estimated by the Developer. Phase 1 is anticipated to be fully built out by 2019. Phase
2 is anticipated to begin in the final previous Phase build -out year and is anticipated to be fully
built by 2023. Phase 3 is anticipated to begin in 2022 while Phase 2 is still underway and
anticipated to be fully built out by 2026-27 as shown in Table V -H.
Table V -H
Estimated Build -out by Current and Future Phases
Phase
Estimated Build
out year
No of
Units
Cumulative
No. of Units
1
2019
207
207
2 and 3
2023
447
654
Note: Phase 2 and 3 are shown together as Phase 3 is anticipated to commence in
2022 before Phase 2 is fully built out.
The detailed absorption is presented in Appendix D as estimated by the Developer for each Lot
Type.
The aggregate home value in the District is estimated to be $81.4 million based on the estimated
20
Draft
absorption and projected home values provided by the Developer once Phase 1 is fully built. The
aggregate home value in the District is estimated to be $264.3 million once Phase 2 and 3 are
fully built. Table IV -1 below shows the estimated total home values by Phase once each Phase is
fully built.
Table V -I
Estimated Build -out by Current and Future Phases
Assuming the development is completed as planned, the proposed development is projected to
generate an aggregate of $39.7 million in incremental taxes under a 1.89 estimated annual
appreciation through build out over 30 years as shown in Table V -F. 50 percent of such annual
TIRZ incremental revenues generated up to a maximum total amount of $21,048,883 are
committed to be used for the payment of debt service on the PID Bonds used to finance the TIRZ
Projects while the TIRZ is in existence As a result, the proposed plan of financing the project
costs appears feasible.
21
Projected
Taxable
Estimated Build
Values at
Phase No of Units
out year
Build out
1 207
2019
$81,410,037
2 and 3 447
2026
$182,939,690
Total 654
$264,349,727
Assuming the development is completed as planned, the proposed development is projected to
generate an aggregate of $39.7 million in incremental taxes under a 1.89 estimated annual
appreciation through build out over 30 years as shown in Table V -F. 50 percent of such annual
TIRZ incremental revenues generated up to a maximum total amount of $21,048,883 are
committed to be used for the payment of debt service on the PID Bonds used to finance the TIRZ
Projects while the TIRZ is in existence As a result, the proposed plan of financing the project
costs appears feasible.
21
Draft
VI. Assumptions & Limitations
The valuation of property for real property tax purposes is determined by the CAD. This plan
attempts to estimate how the CAD may estimate the value of the subject properties in the
future. The values estimated by the CAD will almost certainly differ from the estimates
included in this report. Values can change significantly over time, and these changes can be
significantly higher or lower than values in previous years. Determining property values for
tax purposes is not as straight forward or as simple as the analysis in this report. Many
factors not considered in this report may impact actual future values. Furthermore, property
values are not likely to be consistent from year to year.
The CAD often relies on market data to estimate the value of property. Property values can
be appealed, competition can be greater, national or local market conditions can change; in
short, there are many factors that can affect the valuation of property. These factors
make the projection of future values an imprecise exercise. The successful development of
the subject properties is critical to the values estimated in the report.
This report has assumed property taxes are paid as due. This study does not include an
analysis to determine if the owners of property within the TIRZ will be able or willing to
pay property taxes or if the tax collector will be able to collect unpaid taxes. The actual
delinquencies in the payment of real property taxes in the TIRZ will likely be different than
assumed in this report and a significant increase in the failure to pay property taxes would
materially affect the tax increment revenues available for debt service on the bonds.
This report estimates future tax increment revenues based on current real property tax rates.
Scenarios do not assume real property tax rates in the future will be different than tax rates
for fiscal year 2015. Real property tax rates have varied over the years and have declined
over the years. Real property tax rates will likely vary significantly in future years and be
different than assumed in this report and a significant decrease in real property tax rates could
materially affect the tax increment revenues available for debt on the bonds.
This report includes projections of tax increment revenues based on zero percent annual
appreciation for real property. Changes in values will not be consistent from year to year.
Future values are estimated based on values in 2015. Values in any future year may be less
than values in 2015.
This report assumes that the subject properties will be developed as projected in this report.
A delay in the development of properties or changes to the program of development would
reduce tax increment revenues during the years of the delay and could result in there being
inadequate tax increment revenues to pay debt service on the bonds. No analysis has been
conducted to determine if the subject properties are likely to be developed as projected.
22
Draft
Numerous sources of information were relied on in the preparation of this report. These
sources are believed to be reliable; however, no effort has been made to verify information
obtained from other sources.
In summary, this report necessarily incorporates numerous estimates and assumptions with
respect to property performance, general and local business and economic conditions, the
absence of material changes in the competitive environment and other matters. Some
estimates or assumptions will inevitably not materialize and unanticipated events and
circumstance will occur. As a result, actual results will vary from the estimates in this report
and the variations may be material.
Other assumptions made in the preparation of this report and limiting conditions to this report
are as follows:
1. There are no zoning, building, safety, environmental or other federal, state, or
local laws, regulations, or codes that would prohibit or impair the development,
marketing or operation of the subject properties in the manner contemplated in
this report, and the subject properties will be developed, marketed and operated in
compliance with all applicable laws, regulations, and codes.
2. No material changes will occur in (a) any federal, state or local law, regulation or
code affecting the subject properties or (b) any federal, state or local grant,
financing or other program to be utilized in connection with the subject
properties.
3. The local, national and international economies will not deteriorate and there will
be no significant changes in interest rates or in rates of inflation or deflation.
4. The subject properties will be served by adequate transportation, utilities and
governmental facilities.
5. The subject properties will not be subjected to any war, energy crises, embargo,
strike, earthquake, flood, fire or other casualty or act of God.
6. The subject properties will be developed, marketed, and operated in a highly
professional manner.
7. There are no existing, impending or threatened litigation that could hinder the
development, marketing, or operation of the subject properties.
8. MuniCap, Inc. does not have expertise in and has no responsibility for legal,
environmental, architectural, geologic, engineering, and other matters related to
the development and operation of the subject properties.
23
Draft
Appendix A
24
4'27"W
387.J1'
,=L==
PELOTON
N 89°52'55"E
LAND SOLUTIONS
10.975 JOHN W.
FLLIOTT DR. STE 4001 FMSCO, TX 150551469-213-1600
465.63'
N89°11'00"E
10'57"W
794.06'
2 32.18'
232.
N89°15'32"E, 742.56'
S90°00'00"E, 1755.97'
N89°56'12" 71184.36'
S01 °06'39" E
R=700.00' 55.96'
=205.39' —�
D=16°48'41"
M.
'D �?
CD=204.65
S 15°42'02"W, 121.60'
R=700.00'
Ld
=205.39'
D=16°48'41"
co
CB=S7°17'41" W
d
CD=204.65
CD
R=699.99'
N23°08'27"W
=116.43'
67.47'
D=9°31'48"
N88°26'26"W
CB=S3°39'15"W
365.15'
CD=116.30
R=700.03'
=101.69'
D=8'1 923"
C)
CB=S4°15'28"W
00
CD=101.60
co
R=700.00'
`-
=530.61'
Ld
D=43°25'52"
CB=S21 °48'40"W
co
CD=518.00
M
M
R=400.00'
S43°31'37"W, 310.13'
o
=25.41'
z
D=00°02'48"
CB=S43°40'02"W
N89°58'14"W 849.21'
CD=25.41
sc v
S00°56'1IT
265.80'
N89°44'50"
587.06'
4'27"W
387.J1'
,=L==
PELOTON
I I
LAND SOLUTIONS
10.975 JOHN W.
FLLIOTT DR. STE 4001 FMSCO, TX 150551469-213-1600
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EXHIBIT A - DEPICTION OF PROPERTY
VILLAGES OF
HURRICANE CREEK
l)
75
24
Appendix B
Estimated Improvement Costs
Description
Project Costs
Non-TIRZ Major
Improvement Costs
Other Costs
Total Costs
Road Improvements
$32,289
$0
$0
$32,289
FM 455 road improvements
$907,882
$0
$0
$907,882
Collector A road improvements
$286,387
$0
$0
$286,387
Collector B road improvements
$1,403,833
$181,671
$0
$1,585,504
Collector C road improvements
$2,654,816
$637,073
$0
$3,291,889
Collector D road improvements
$314,586
$115,643
$0
$430,229
Other road improvements
$0
$0
$9,985,907
$9,985,907
Subtotal
$5,567,504
$934,387
$9,985,907
$16,487,798
Water Distribution System Improvements
water improvements along FM 455
$20,897
$0
$0
$20,897
water improvements along Collector A
$32,289
$0
$0
$32,289
water improvements along Collector B
$15,375
$0
$0
$15,375
water improvements along Collector C
$179,982
$0
$0
$179,982
Other water improvements
$0
$0
$2,331,059
$2,331,059
Subtotal
$248,543
$0
$2,331,059
$2,579,602
Sanitary Sewer Collection System Improvements
Throckmorton LS to NTMWD sewer improvements
$1,583,741
$0
$0
$1,583,741
Lift station trunk sewer FM sewer'
$485,875
$0
$0
$485,875
Other sewer improvements
$0
$2,373,497
$2,650,595
$5,024,092
Subtotal
$2,069,616
$2,373,497
$2,650,595
$7,093,708
Storm Drainage Collection System Improvements
$3,645,399
$28,407,244
$39,938,306
($485,663)
Drainage improvements
$0
$0
$1,520,401
$1,520,401
Subtotal
$0
$0
$1,520,401
$1,520,401
Other Costs
Land costs
$0
$0
$8,000,000
$8,000,000
Amenity center
$0
$0
$2,000,000
$2,000,000
Trail system
$0
$0
$600,000
$600,000
Retaining walls
$0
$0
$784,800
$784,800
Miscellaneous costs
$0
$0
$534,482
$534,482
Subtotal
$0
$0
$11,919,282
$11,919,282
Soft Costs
Flood study
SWPPP and final platting fees
Engineering review
Geotechnical testing
Subtotal
Total Estimated Construction Costs
Less: Estimated Developer funded portion
Subtotal
Estimated Bond issuance related costs
Estimated capitalized interest
Estimated debt service reserve
Other estimated bond issuance related costs
Subtotal
$0
$25,000
$0
$25,000
$0
$12,595
$0
$12,595
$0
$5,000
$0
$5,000
$0
$294,920
$0
$294,920
$0
$337,515
$0
$337,515
$7,885,663
$3,645,399
$28,407,244
$39,938,306
($485,663)
$7,400,000
$1,527,353 $852,647 $0 $2,380,000
$872,773 $487,227 $0 $1,360,000
$1,109,537 $619,401 $0 $1,728,938
$3,509,663 $1,959,275
$0 $5,468,938
Total Estimated Costs $10,909,663 $5,604,674 $28,407,244 $45,407,244
Draft
Draft
Appendix C
MuniCap 126
CITY OF ANNA TAX INCREMENT REINVESTMENT ZONE No.
ANNA, TX
Schedule C: Estimated Bond Debt Service - PID Bonds
Total
Draft
Principal and
Prepayment
Delinquency
Total Bond
Year
Principal
Coupon
Interest
Interest
Reserve
Reserve
Debt Service
1
$0
7.000%
$1,190,000
$1,190,000
$34,000
$51,000
$1,275,000
2
$0
7.000%
$1,190,000
$1,190,000
$34,000
$51,000
$1,275,000
3
$194,000
7.000%
$1,190,000
$1,384,000
$34,000
$51,000
$1,469,000
4
$208,000
7.000%
$1,176,420
$1,384,420
$33,612
$50,418
$1,468,450
5
$224,000
7.000%
$1,161,860
$1,385,860
$33,196
$49,794
$1,468,850
6
$241,000
7.000%
$1,146,180
$1,387,180
$32,748
$49,122
$1,469,050
7
$259,000
7.000%
$1,129,310
$1,388,310
$32,266
$48,399
$1,468,975
8
$278,000
7.000%
$1,111,180
$1,389,180
$31,748
$47,622
$1,468,550
9
$299,000
7.000%
$1,091,720
$1,390,720
$31,192
$46,788
$1,468,700
10
$322,000
7.000%
$1,070,790
$1,392,790
$30,594
$45,891
$1,469,275
11
$346,000
7.000%
$1,048,250
$1,394,250
$29,950
$44,925
$1,469,125
12
$372,000
7.000%
$1,024,030
$1,396,030
$0
$73,145
$1,469,175
13
$400,000
7.000%
$997,990
$1,397,990
$0
$71,285
$1,469,275
14
$430,000
7.000%
$969,990
$1,399,990
$0
$69,285
$1,469,275
15
$462,000
7.000%
$939,890
$1,401,890
$0
$67,135
$1,469,025
16
$496,000
7.000%
$907,550
$1,403,550
$0
$64,825
$1,468,375
17
$534,000
7.000%
$872,830
$1,406,830
$0
$62,345
$1,469,175
18
$574,000
7.000%
$835,450
$1,409,450
$0
$59,675
$1,469,125
19
$617,000
7.000%
$795,270
$1,412,270
$0
$56,805
$1,469,075
20
$663,000
7.000%
$752,080
$1,415,080
$0
$53,720
$1,468,800
21
$713,000
7.000%
$705,670
$1,418,670
$0
$50,405
$1,469,075
22
$766,000
7.000%
$655,760
$1,421,760
$0
$46,840
$1,468,600
23
$824,000
7.000%
$602,140
$1,426,140
$0
$43,010
$1,469,150
24
$885,000
7.000%
$544,460
$1,429,460
$0
$38,890
$1,468,350
25
$952,000
7.000%
$482,510
$1,434,510
$0
$34,465
$1,468,975
26
$1,023,000
7.000%
$415,870
$1,438,870
$0
$29,705
$1,468,575
27
$1,100,000
7.000%
$344,260
$1,444,260
$0
$24,590
$1,468,850
28
$1,182,000
7.000%
$267,260
$1,449,260
$0
$19,090
$1,468,350
29
$1,271,000
7.000%
$184,520
$1,455,520
$0
$13,180
$1,468,700
30
$1,365,000
7.000%
$95,550
$1,460,550
$0
$6,825
$1,467,375
Total
$17,000,000
$24,898,790
$41,898,790
$357,306
$1,421,179
$43,677,275
Draft
Breakdown of Estimated Bond Debt Service Payments
City Major Improvements Portion
64.17% 35.83%
Major Improvement Bonds
1- The estimated principal and interest shares of the TIRZ Major Improvements are calculated as 64.17% based on the total TIRZ Project Costs cap of $7.4mm and
and the estimated total costs of $11.531mm for TIRZ and non-TIRZ major improvements. Bond interest is estimated at 7%.
The estimated interest amounts also include 0.5% for prepayment and delinquency reserves.
1- The estimated principal and interest shares of the Non-TIRZ Major Improvements are calculated as 35.83% based on the total TIRZ Project Costs cap of $7.4mm and
and the estimated total costs of $11.531mm for TIRZ and non-TIRZ major improvements. Bond interest is estimated at 7%.
The estimated interest amounts also include 0.5% for prepayment and delinquency reserves.
Draft
TIRZ Major Improvements
Other Major Improvements
Estimated
Total
TIRZ Admin
Combined
Year
Principal' Interest'
Principah Interest
Expenses
Obligations
1
$0
$818,225
$0
$456,775
$0
$1,275,000
2
$0
$818,225
$0
$456,775
$20,000
$1,295,000
3
$124,499
$818,225
$69,501
$456,775
$20,000
$1,489,000
4
$133,483
$808,887
$74,517
$451,563
$20,000
$1,488,450
5
$143,751
$798,876
$80,249
$445,974
$20,000
$1,488,850
6
$154,661
$788,095
$86,339
$439,955
$20,000
$1,489,050
7
$166,212
$776,495
$92,788
$433,480
$20,000
$1,488,975
8
$178,405
$764,029
$99,595
$426,521
$20,000
$1,488,550
9
$191,882
$750,649
$107,118
$419,051
$20,000
$1,488,700
10
$206,642
$736,258
$115,358
$411,017
$20,000
$1,489,275
11
$222,044
$720,760
$123,956
$402,365
$20,000
$1,489,125
12
$238,729
$704,106
$133,271
$393,069
$20,000
$1,489,175
13
$256,698
$686,202
$143,302
$383,073
$20,000
$1,489,275
14
$275,950
$666,949
$154,050
$372,326
$20,000
$1,489,275
15
$296,486
$646,253
$165,514
$360,772
$20,000
$1,489,025
16
$318,305
$624,017
$177,695
$348,358
$20,000
$1,488,375
17
$342,692
$600,144
$191,308
$335,031
$20,000
$1,489,175
18
$368,362
$574,442
$205,638
$320,683
$20,000
$1,489,125
19
$395,957
$546,815
$221,043
$305,260
$20,000
$1,489,075
20
$425,477
$517,118
$237,523
$288,682
$20,000
$1,488,800
21
$457,564
$485,207
$255,436
$270,868
$20,000
$1,489,075
22
$491,577
$450,890
$274,423
$251,710
$20,000
$1,488,600
23
$528,798
$414,022
$295,202
$231,128
$20,000
$1,489,150
24
$567,944
$374,362
$317,056
$208,988
$20,000
$1,488,350
25
$610,941
$331,766
$341,059
$185,209
$20,000
$1,488,975
26
$656,505
$285,945
$366,495
$159,630
$20,000
$1,488,575
27
$705,919
$236,708
$394,081
$132,142
$20,000
$1,488,850
28
$758,542
$183,764
$423,458
$102,586
$20,000
$1,488,350
29
$815,658
$126,873
$455,342
$70,827
$20,000
$1,488,700
30
$875,982
$65,699
$489,018
$36,676
$20,000
$1,487,375
31
$0
$0
$0
$0
$0
$0
Total
$10,909,663
$17,120,005
$6,090,337
$9,557,270
$580,000
$44,257,275
1- The estimated principal and interest shares of the TIRZ Major Improvements are calculated as 64.17% based on the total TIRZ Project Costs cap of $7.4mm and
and the estimated total costs of $11.531mm for TIRZ and non-TIRZ major improvements. Bond interest is estimated at 7%.
The estimated interest amounts also include 0.5% for prepayment and delinquency reserves.
1- The estimated principal and interest shares of the Non-TIRZ Major Improvements are calculated as 35.83% based on the total TIRZ Project Costs cap of $7.4mm and
and the estimated total costs of $11.531mm for TIRZ and non-TIRZ major improvements. Bond interest is estimated at 7%.
The estimated interest amounts also include 0.5% for prepayment and delinquency reserves.
Draft
Draft
Appendix D
MuniCap 127
CITY OF ANNA TAX INCREMENT REINVESTMENT ZONE No.
ANNA, TX
Schedule D: Projected Absorption - All Phases
Assessment
Year
Debt
Service
Year
Bond
Year
Ending
Lot Type
Annual
1 (100' Lot)
Cumulative
1 -Jan -16
1
1 -Sep -16
0
0
1 -Jan -17
2
1 -Sep -17
0
0
1 -Jan -18
3
1 -Sep -18
0
0
1 -Jan -19
4
1 -Sep -19
0
0
1 -Jan -20
5
1 -Sep -20
0
0
1 -Jan -21
6
1 -Sep -21
0
0
1 -Jan -22
7
1 -Sep -22
0
0
1 -Jan -23
8
1 -Sep -23
0
0
1 -Jan -24
9
1 -Sep -24
0
0
1 -Jan -25
10
1 -Sep -25
25
25
1 -Jan -26
11
1 -Sep -26
24
49
1 -Jan -27
12
1 -Sep -27
55
49
1 -Jan -28
13
1 -Sep -28
49
1 -Jan -29
14
1 -Sep -29
49
1 -Jan -30
15
1 -Sep -30
49
1 -Jan -31
16
1 -Sep -31
49
1 -Jan -32
17
1 -Sep -32
49
1 -Jan -33
18
1 -Sep -33
49
1 -Jan -34
19
1 -Sep -34
49
1 -Jan -35
20
1 -Sep -35
49
1 -Jan -36
21
1 -Sep -36
49
1 -Jan -37
22
1 -Sep -37
49
1 -Jan -38
23
1 -Sep -38
49
1 -Jan -39
24
1 -Sep -39
49
1 -Jan -40
25
1 -Sep -40
49
1 -Jan -41
26
1 -Sep -41
49
1 -Jan -42
27
1 -Sep -42
49
1 -Jan -43
28
1 -Sep -43
49
1 -Jan -44
29
1 -Sep -44
49
1 -Jan -45
30
1 -Sep -45
49
1 -Jan -46
31
1 -Sep -46
49
1 -Jan -47
32
1 -Sep -47
49
1 -Jan -48
33
1 -Sep -48
49
Lot Type 2 (90' Lot)
Annual
Cumulative
0
0
0
0
1
1
4
5
4
9
4
13
4
17
2
19
11
30
25
55
55
55
55
55
55
55
55
55
55
55
55
55
55
55
55
55
55
55
55
55
55
55
55
Lot Type 3 (80' Lot)
Annual Cumulative
0
0
0
0
22
22
44
66
37
103
24
127
13
140
24
164
21
185
64
185
29
185
185
185
185
185
185
185
185
185
185
185
185
185
185
185
185
185
185
185
185
185
185
185
Lot Type 4 (70' Lot)
Annual
Cumulative
0
0
0
0
24
24
48
72
13
85
64
149
64
213
59
272
64
336
29
365
365
365
365
365
365
365
365
365
365
365
365
365
365
365
365
365
365
365
365
365
365
365
365
Annual
0
0
47
96
54
92
81
85
96
79
24
0
0
0
0
Total
Cumulative
0
0
47
143
197
289
370
455
551
630
654
654
654
654
654
654
654
654
654
654
654
654
654
654
654
654
654
654
654
654
654
654
654
Total 49 365 654
Note: The projected absorption schedule is provided by the developer.
MuniCap, Inc.
Draft Draft
Draft
Appendix E
MuniCap 128
CITY OF ANNA TAX INCREMENT REINVESTMENT ZONE No. _
ANNA, TX
Schedule E: Projected Assessed Value - All Phases
MuniCap, Inc.
I The estimated annual growth rate is calculated as the ten-year average annual growth rate of average home values in the city.
2 Estimated value per unit based on information provided by the developer.
3 The projections assume that the assessed value is approximately 94 percent of the estimated sales price as reported by the developer with 1.89% annual inflation factor. The 6% reduction is based on the ten-year average total exemption to taxable value ratios.
Draft Draft
Total
Debt
Bond
1.89%
Lot Type 1 (100' Lot)
Lot Type 2 (90' Lot)
Lot Type 3 (80' Lot)
Lot Type 4 (70' Lot)
Estimated
Estimated
Estimated
Assessment
Service
Year
Inflation
Value Per
Market
Value Per
Market
Value Per
Market
Value Per
Market
Market
Assessment
Assessed
Year
Year
Ending
Factor'
Units
Unit`
Value
Units
Unit`
Value
Units
Unit
Value
Units
Unit
Value
Value
Rate'
Value
1 -Jan -16
I
1 -Sep -16
100.0%
0
$475,000
$0
0
$427,500
$0
0
$380,000
$0
0
$332,500
$0
$0
94%
$0
I -Jan -17
2
1 -Sep -17
100.0%
0
$475,000
$0
0
$427,500
$0
0
$380,000
$0
0
$332,500
$0
$0
94%
$0
1 -Jan -18
3
1 -Sep -18
100.0%
0
$483,994
$0
1
$435,595
$435,595
22
$387,196
$8,518,303
24
$338,796
$8,131,107
$17,085,005
94%
$15,998,358
1 -Jan -19
4
1 -Sep -19
101.9%
0
$493,159
$0
5
$443,843
$2,219,217
66
$394,527
$26,038,810
72
$345,212
$24,855,228
$53,113,255
94%
$49,735,126
1 -Jan -20
5
1 -Sep -20
103.8%
0
$502,498
$0
9
$452,248
$4,070,231
103
$401,998
$41,405,805
85
$351,748
$29,898,609
$75,374,645
94%
$70,580,639
1 -Jan -21
6
1 -Sep -21
105.8%
0
$512,013
$0
13
$460;812
$5,990,550
127
$409,610
$52,020,502
149
$358,409
$53,402,936
$111,413,987
94%
$104,327,793
1 -Jan -22
7
1 -Sep -22
107.8%
0
$521,708
$0
17
$469,537
$7,982,135
140
$417,367
$58,431,314
213
$365,196
$77,786,687
$144,200,136
94%
$135,028,664
1 -Jan -23
8
1 -Sep -23
109.8%
0
$531,587
$0
19
$478,428
$9,090,139
164
$425,270
$69,744,228
272
$372,111
$101,214,184
$180,048,552
94%
$168,597,035
1 -Jan -24
9
1 -Sep -24
111.9%
0
$541,653
$0
30
$487,488
$14,624,634
185
$433,322
$80,164,660
336
$379,157
$127,396,811
$222,186,105
94%
$208,054,540
I -Jan -25
10
1 -Sep -25
114.0%
25
$551,910
$13,797,743
55
$496,719
$27,319,531
185
$441,528
$81,682,639
365
$386,337
$141,012,934
$263,812,847
94%
$247,033,722
1 -Jan -26
11
1 -Sep -26
116.2%
49
$562,361
$27,555,667
55
$506,124
$27,836,847
185
$449,888
$83,229,362
365
$393,652
$143,683,121
$282,304,997
94%
$264,349,727
1 -Jan -27
12
1 -Sep -27
118.4%
49
$562,361
$27,555,667
55
$506,124
$27,836,847
185
$449,888
$83,229,362
365
$393,652
$143,683,121
$282,304,997
94%
$264,349,727
1 -Jan -28
13
1 -Sep -28
120.6%
49
$562,361
$27,555,667
55
$506,124
$27,836,847
185
$449,888
$83,229,362
365
$393,652
$143,683,121
$282,304,997
94%
$264,349,727
1 -Jan -29
14
1 -Sep -29
122.9%
49
$562,361
$27,555,667
55
$506,124
$27,836,847
185
$449,888
$83,229,362
365
$393,652
$143,683,121
$282,304,997
94%
$264,349,727
1 -Jan -30
15
1 -Sep -30
125.2%
49
$562,361
$27,555,667
55.
$506,124
$27,836,847
185
$449,888
$83,229,362
365
$393,652
$143,683,121
$282,304,997
94%
$264,349,727
1 -Jan -31
16
1 -Sep -31
127.6%
49
$562,361
$27,555,667
55
$506,124
$27,836,847
185
$449,888
$83,229,362
365
$393,652
$143,683,121
$282,304,997
94%
$264,349,727
1 -Jan -32
17
1 -Sep -32
130.0%
49
$562,361
$27,555,667
55
$506,124
$27,836,847
185
$449,888
$83,229,362
365
$393,652
$143,683,121
$282,304,997
94%
$264,349,727
1 -Jan -33
18
1 -Sep -33
132.5%
49
$562,361
$27,555,667
55
$506,124
$27,836,847
185
$449,888
$83,229,362
365
$393,652
$143,683,121
$282,304,997
94%
$264,349,727
1 -Jan -34
19
1 -Sep -34
135.0%
49
$562,361
$27,555,667
55
$506,124
$27,836,847
185
$449,888
$83,229,362
365
$393,652
$143,683,121
$282,304,997
94%
$264,349,727
I -Jan -35
20
1 -Sep -35
137.6%
49
$562,361
$27,555,667
55
$506,124
$27,836,847
185
$449,888
$83,229,362
365
$393,652
$143,683,121
$282,304,997
94%
$264,349,727
1 -Jan -36
21
1 -Sep -36
140.2%
49
$562,361
$27,555,667
55
$506,124
$27,836,847
185
$449,888
$83,229,362
365
$393,652
$143,683,121
$282,304,997
94%
$264,349,727
1 -Jan -37
22
1 -Sep -37
142.8%
49
$562,361
$27,555,667
55
$506,124
$27,836,847
185
$449,888
$83,229,362
365
$393,652
$143,683,121
$282,304,997
94%
$264,349,727
1 -Jan -38
23
1 -Sep -38
145.5%
49
$562,361
$27,555,667
55
$506,124
$27,836,847
185
$449,888
$83,229,362
365
$393,652
$143,683,121
$282,304,997
94%
$264,349,727
1 -Jan -39
24
1 -Sep -39
148.3%
49
$562,361
$27,555,667
55
$506,124
$27,836,847
185
$449,888
$83,229,362
365
$393,652
$143,683,121
$282,304,997
94%
$264,349,727
1 -Jan -40
25
1 -Sep -40
151.1%
49
$562,361
$27,555,667
55
$506,124
$27,836,847
185
$449,888
$83,229,362
365
$393,652
$143,683,121
$282,304,997
94%
$264,349,727
1 -Jan -41
26
1 -Sep -41
153.9%
49
$562,361
$27,555,667
55
$506,124
$27,836,847
185
$449,888
$83,229,362
365
$393,652
$143,683,121
$282,304,997
94%
$264,349,727
1 -Jan -42
27
1 -Sep -42
156.9%
49
$562,361
$27,555,667
55
$506,124
$27;836,847
185
$449,888
$83,229,362
365
$393,652
$143,683,121
$282,304,997
94%
$264,349,727
1 -Jan -43
28
1 -Sep -43
159.8%
49
$562,361
$27,555,667
55
$506,124
$27,836,847
185
$449,888
$83,229,362
365
$393,652
$143,683,121
$282,304,997
94%
$264,349,727
1 -Jan -44
29
1 -Sep -44
162.9%
49
$562,361
$27,555,667
55
$506,124
$27,836,847
185
$449,888
$83,229,362
365
$393,652
$143,683,121
$282,304,997
94%
$264,349,727
1 -Jan -45
30
1 -Sep -45
165.9%
49
$562,361
$27,555,667
55
$506,124
$27,836,847
185
$449,888
$83,229,362
365
$393,652
$143,683,121
$282,304,997
94%
$264,349,727
MuniCap, Inc.
I The estimated annual growth rate is calculated as the ten-year average annual growth rate of average home values in the city.
2 Estimated value per unit based on information provided by the developer.
3 The projections assume that the assessed value is approximately 94 percent of the estimated sales price as reported by the developer with 1.89% annual inflation factor. The 6% reduction is based on the ten-year average total exemption to taxable value ratios.
Draft Draft
Draft
Appendix F
MuniCap 129
CITY OF ANNA TAX INCREMENT REINVESTMENT ZONE No. _
ANNA, TX
Schedule F: Projected Incremental Real Property Tax - All Phases
$40,169,779 $39,730,436 $19,865,218 $26,973,218 $7,944,752
t The estimated annual growth rate is calculated as a 10 average annual growth rate of average home values in the city.
2 The projections assume that 50 percent of the incremental real property tax will be made availabel for the partial payment of debt service on the PID Bonds.
' The maximum amount of TIRZ related obligations is set not to exceed $21,048,883 per the Development Agreement.
Mu,iCup, 1-.
Draft Draft
Estimated
Debt
Bond
1.89%
Estimated
Base
Little
Estimated
Base
Estimated
Incremental Real
Estimated
Estimated
Assessment
Service
Year
Inflation
Assessed
Year
Elm Tax
Real Propert
Year
Incremental Real
TIRZ
Property Tax
TIRZ related
Developer Funded
Year
Year
Ending
Factor'
Value
Value
Rate
Tax
Tax
Property Tax
Percentage2
Available
Obligation93
Obligations Amount
1 -Jan -16
1
1 -Sep -16
100.0%
$0
($2,455,530)
$0.6390
$0
($15,691)
$0
50%
$0
$0
$0
1 -Jan -17
2
1 -Sep -17
100.0%
$0
($2,455,530)
$0.6390
$0
($15,691)
$0
50%
$0
$20,000
$20,000
1 -Jan -18
3
1 -Sep -18
101.9%
$15,998,358
($2,455,530)
$0.6390
$102,230
($15,691)
$86,539
50%
$43,269
$962,723
$962,723
1 -Jan -19
4
1 -Sep -19
103.8%
$49,735,126
($2,455,530)
$0.6390
$317,807
($15,691)
$302,117
50%
$151,058
$962,370
$919,101
1 -Jan -20
5
1 -Sep -20
105.8%
$70,580,639
($2,455,530)
$0.6390
$451,010
($15,691)
$435,319
50%
$217,660
$962,627
$811,569
1 -Jan -21
6
1 -Sep -21
107.8%
$104,327,793
($2,455,530)
$0.6390
$666,655
($15,691)
$650,964
50%
$325,482
$962,755
$745,096
1 -Jan -22
7
1 -Sep -22
109.8%
$135,028,664
($2,455,530)
$0.6390
$862,833
($15,691)
$847,142
50%
$423,571
$962,707
$637,225
1 -Jan -23
8
1 -Sep -23
111.9%
$168,597,035
($2,455,530)
$0.6390
$1,077,335
($15,691)
$1,061,644
50%
$530,822
$962,434
$538,863
1 -Jan -24
9
1 -Sep -24
114.0%
$208,054,540
($2,455,530)
$0.6390
$1,329,469
($15,691)
$1,313,778
50%
$656,889
$962,531
$431,709
1 -Jan -25
10
1 -Sep -25
116.2%
$247,033,722
($2,455,530)
$0.6390
$1,578,545
($15,691)
$1,562,855
50%
$781,427
$962,900
$306,011
1 -Jan -26
11
1 -Sep -26
118.4%
$264,349,727
($2,455,530)
$0.6390
$1,689,195
($15,691)
$1,673,504
50%
$836,752
$962,803
$181,376
1 -Jan -27
12
1 -Sep -27
118.4%
$264,349,727
($2,455,530)
$0.6390
$1,689,195
($15,691)
$1,673,504
50%
$836,752
$962,836
$126,084
1 -Jan -28
13
1 -Sep -28
118.4%
$264,349,727
($2,455,530)
$0.6390
$1,689,195
($15,691)
$1,673,504
50%
$836,752
$962,900
$126,148
1 -Jan -29
14
1 -Sep -29
118.4%
$264,349,727
($2,455,530)
$0.6390
$1,689,195
($15,691)
$1,673,504
50%
$836,752
$962,900
$126,148
1 -Jan -30
15
1 -Sep -30
118.4%
$264,349,727
($2,455,530)
$0.6390
$1,689,195
($15,691)
$1,673,504
50%
$836,752
$962,739
$125,987
1 -Jan -31
16
1 -Sep -31
118.4%
$264,349,727
($2,455,530)
$0.6390
$1,689,195
($15,691)
$1,673,504
50%
$836,752
$962,322
$125,570
1 -Jan -32
17
1 -Sep -32
118.4%
$264,349,727
($2,455,530)
$0.6390
$1,689,195
($15,691)
$1,673,504
50%
$836,752
$962,836
$126,084
1 -Jan -33
18
1 -Sep -33
118.4%
$264,349,727
($2,455,530)
$0.6390
$1,689,195
($15,691)
$1,673,504
50%
$836,752
$962,803
$126,051
1 -Jan -34
19
1 -Sep -34
118.4%
$264,349,727
($2,455,530)
$0.6390
$1,689,195
($15,691)
$1,673,504
50%
$836,752
$962,771
$126,019
1 -Jan -35
20
1 -Sep -35
118.4%
$264,349,727
($2,455,530)
$0.6390
$1,689,195
($15,691)
$1,673,504
50%
$836,752
$962,595
$125,843
1 -Jan -36
21
1 -Sep -36
118.4%
$264,349,727
($2,455,530)
$0.6390
$1,689,195
($15,691)
$1,673,504
50%
$836,752
$962,771
$126,019
1 -Jan -37
22
1 -Sep -37
118.4%
$264,349,727
($2,455,530)
$0.6390
$1,689,195
($15,691)
$1,673,504
50%
$836,752
$962,467
$125,715
1 -Jan -38
23
1 -Sep -38
118.4%
$264,349,727
($2,455,530)
$0.6390
$1,689,195
($15,691)
$1,673,504
50%
$836,752
$962,819
$126,068
1 -Jan -39
24
1 -Sep -39
118.4%
$264,349,727
($2,455,530)
$0.6390
$1,689,195
($15,691)
$1,673,504
50%
$836,752
$962,306
$125,554
1 -Jan -40
25
1 -Sep -40
118.4%
$264,349,727
($2,455,530)
$0.6390
$1,689,195
($15,691)
$1,673,504
50%
$836,752
$962,707
$125,955
1 -Jan -41
26
1 -Sep -41
118.4%
$264,349,727
($2,455,530)
$0.6390
$1,689,195
($15,691)
$1,673,504
50%
$836,752
$962,450
$125,699
1 -Jan -42
27
1 -Sep -42
118.4%
$264,349,727
($2,455,530)
$0.6390
$1,689,195
($15,691)
$1,673,504
50%
$836,752
$962,627
$125,875
1 -Jan -43
28
1 -Sep -43
118.4%
$264,349,727
($2,455,530)
$0.6390
$1,689,195
($15,691)
$1,673,504
50%
$836,752
$962,306
$125,554
1 -Jan -44
29
1 -Sep -44
118.4%
$264,349,727
($2,455,530)
$0.6390
$1,689,195
($15,691)
$1,673,504
50%
$836,752
$962,531
$125,779
1 -Jan -45
30
1 -Sep -45
118.4%
$264,349,727
($2,455,530)
$0.6390
$1,689,195
($15,691)
$1,673,504
50%
$836,752
$961,680
$124,928
$40,169,779 $39,730,436 $19,865,218 $26,973,218 $7,944,752
t The estimated annual growth rate is calculated as a 10 average annual growth rate of average home values in the city.
2 The projections assume that 50 percent of the incremental real property tax will be made availabel for the partial payment of debt service on the PID Bonds.
' The maximum amount of TIRZ related obligations is set not to exceed $21,048,883 per the Development Agreement.
Mu,iCup, 1-.
Draft Draft
Draft
Appendix G
iMuniCap 1.30
CITY OF ANNA, TEXAS
(Property rezoned under this ordinance is generally located on the north side
of FM 455 and west of U.S. 75)
ORDINANCE NO.
AN ORDINANCE OF THE CITY OF ANNA, TEXAS AMENDING THE CITY'S
COMPREHENSIVE PLAN, ZONING MAP, AND ZONING ORDINANCE AND
CHANGING THE ZONING OF CERTAIN PROPERTY AS DESCRIBED HEREIN;
PROVIDING FOR SAVINGS, REPEALING AND SEVERABILITY CLAUSES;
PROVIDING FOR AN EFFECTIVE DATE; PROVIDING FOR A PENALTY CLAUSE
NOT TO EXCEED $2,000 OR THE HIGHEST PENALTY AMOUNT ALLOWED BY
LAW, WHICHEVER IS LESS; AND, PROVIDING FOR THE PUBLICATION OF THE
CAPTION HEREOF.
WHEREAS, the City of Anna, Texas ("City") has previously adopted ordinances, rules and
regulations governing the zoning in the City; and
WHEREAS, the City has received a requested zoning change on Property described in Exhibit
A and Exhibit B ("Property") attached hereto and incorporated herein for all purposes as if set
forth in full; and
WHEREAS, said Property generally located on the north side of FM 455 and west of U.S. 75
being rezoned from "PD - Single Family Residential" zoning district to "PD- Single Family
Residential (PD) zoning; and
WHEREAS, the Planning and Zoning Commission of the City and the City Council of the City
of Anna ("City Council") have given the requisite notices by publication and otherwise and have
held the public hearings as required by law and afforded a full and fair hearing to all property
owners and generally to all persons interested in and situated in the affected area and in the
vicinity thereof, the City Council has concluded that the Zoning Ordinance of the City should be
amended as set forth below.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
ANNA, TEXAS THAT:
Section 1. Recitals Incorporated
The above recitals are incorporated herein by reference for all purposes.
Section 2. Zoning Change
The Comprehensive Plan of the City and City of Anna Ordinance No. 116-2003 as amended and
codified as Part III -C of The Anna City Code of Ordinances are hereby amended by changing the
zoning of the Property described in Exhibit A from PD - Single Family Residential to PD —
Single Family Residential zoning.
PURPOSE AND INTENT
A. Purpose and Intent: This zoning submittal addresses the disposition of approximately
368 total acres of land within the City of Anna more fully described on the legal
description attached as Exhibit A (the "Property") and depicted on Exhibit B. The uses
proposed for the Property follow the intent of the City of Anna Comprehensive Plan
dated March 2010. It is the intent of the Planned Development (PD) to offer greater
flexibility for residential development. The purpose of the district is to create a master
planned community featuring a mixture of housing types in a manner that will
encourage sustainable neighborhoods and attract investment to the area.
The purpose of this district is:
a. To provide development and land use flexibility within the framework of
a Planned Development zoning district.
2. The intent of this district is:
a. To design streets and buildings which will contribute to creating safe
neighborhoods.
b. To provide an attractive environment for pedestrians which includes
such things as buildings framing public space, street trees, lighting and
canopies that will attract pedestrians.
C. To contribute to the definition and use of public parks, ball fields and
walking trails.
d. Integrated parks and open space to preserve areas designated within
the 100 -year floodplain. This will protect existing stream corridors and
other physical assets as amenities.
The Villages of Hurricane Creek PD is intended to provide the community with a
mixture of housing types in a pattern and amount that will encourage
sustainable neighborhoods and development.
4. The Villages of Hurricane Creek Concept Plan delineates the boundaries of the
respective neighborhood areas (Exhibit B). The Development Standards shall
apply to the entire Villages of Hurricane Creek District unless indicated
otherwise. Housing mix, street types, building types and frontage standards for
any particular area shall be controlled by the neighborhood areas delineated on
the plan.
B. Applicability: This Ordinance shall apply to all development within the PD boundaries.
Unless otherwise stated herein, all ordinances of the City shall apply to The Villages of
Hurricane Creek.
II. DEFINITIONS
Accessory Building or Use: (a) is subordinate to and serves a principal Building or principal Use;
(b) is subordinate in area, extent, or purpose to the principal Building or principal Use served
and is not physically connected to the principal Building; (c) contributes to the comfort,
convenience and necessity of occupants of the principal Building or principal Use served; and (d)
2
is located on the same Building Lot as the principal Use served. If connected to the principal
Building, a structure becomes part of the principal Building.
Block: Property abutting on one side of the Street and lying between the nearest intersecting or
intercepting Streets or nearest intercepting Street and railroad right-of-way, waterway, or other
barrier to or gap in the continuity of development along such Street.
Building: Any structure built for the support, shelter, or enclosure of persons, chattels, or
movable property of any kind. When such structure is divided into separate parts by one or
more unpierced walls extending from the ground up, each part is deemed a separate Building,
except as regards minimum side yards.
Building Line: A line parallel or approximately parallel to the Street line at a specific distance
there from marking the minimum distance from the Street line that a Building may be erected.
Court: An open, unoccupied space on the same Lot with a Building and bounded on two sides
by such Building, or the Open Space provided for access to a dwelling group.
District: A portion of the territory of the city within which certain uniform regulations and
requirements or various combinations thereof apply under the provisions of this Part of the
Code. The term "residential District" means any SF -E, SF -1, SF -84, SF -72, SF -60, SF -2, SF -Z, SF-
TH, MH, or MF District; the term "commercial District" means any C-1, NC, C-2, C-3 or 0-1
District.
Dwelling Unit: A room or a group of rooms including cooking accommodations, occupied by one
Family, and in which not more than two persons, other than members of the Family, are lodged
or boarded for compensation at any one time.
Dwelling Unit, Single -Family: Detached means located on a Lot or separate Building tract and
having no physical connection to a Building on any other Lot.
Flood Plain: The land adjoining the channel of a river, stream, or watercourse that has been or
may be covered by floodwater. Any land covered by the water of a 100 year frequency storm is
considered in the Flood Plain and must comply with the engineering criteria found in the
subdivision regulations and other relevant regulations of the City.
Frontage: All the property abutting on one side of a Street between intersecting or intercepting
Streets, or between a Street and a right-of-way, waterway, end of a dead-end Street, or village
boundary measured along the Street line. An intercepting Street shall determine only the
boundary of the Frontage on the side of the Street which it shall determine only the boundary of
the Frontage on the side of the Street which it intercepts. Where a Lot abuts more than one
Street, the planning and zoning commission shall determine the Frontage for purposes of the
Part of the Code.
Land Use Plan: The long-range plan for the desirable use of land in the City of Anna as officially
adopted and as amended from time to time by the City Council, the purpose of such plan being,
among other things, to serve as a guide in the zoning and progressive changes in the zoning of
land to meet the changing needs, in the subdivision and Use of undeveloped land, and in the
acquisition of rights-of-way or sites for public purposes such as Streets, parks, schools and public
Buildings.
Lot: The entire parcel of land occupied or to be occupied by a main Building and its Accessory
Buildings, or by a group such as a dwelling group or automobile Court and their Accessory
Buildings, including the yards and Open Spaces required therefore by this title and other
applicable law.
Lot, Corner: A Lot abutting on two intercepting or intersecting Streets where the interior angle
of intersection or interception does not exceed 135°.
Lot Coverage: The percentage of the total area of a Lot occupied by the base (first Story or
floor) of Buildings located on the Lot.
Lot, Interior: A Lot other than a corner Lot.
Lot, Lines: The property lines bounding the Lot as defined herein.
Lot, Through: A Lot having its front and rear on different Streets, or having its front or rear line
on a Street and the other line on a river, lake, creek or other permanent body of water.
Lot Depth: The average depth from the front line of the Lot to the rear line of the Lot.
Lot Width: The width measured at a distance back from the front line equal to the minimum
depth required for a Front Yard.
Lot of Record: A Lot, which is part of a subdivision, the plat of which has been recorded in the
office of the County Clerk of Collin County, or a parcel of land, the deed for which was recorded
in the Office of the County Clerk, Collin County, prior to January 1, 1986.
Main Building: A Building in which is conducted principal Use of the Lot on which it is situated.
Open Space: That part of any Lot or tract that is used for recreational purposes, both passive
and active, but not including areas used for parking or maneuvering of automobiles, or drives or
approaches to and from parking areas, Floodplains, or 100% of any standing surface water, may
be considered as Open Space, provided such Open Space is contiguous and part of the platted
Lot and is maintained and utilized in the same manner and to the same degree as all other Open
Space areas as is designated on the site plan as filed with the building permit application.
Planned Development: Land under unified control, including developed as a whole; in a single
development operation or a definitely programmed series of development operations, including
all lands and Buildings; for principal and accessory structures and uses substantially related to
the character of the District; according to comprehensive and detailed plans which include not
only Streets, utilities, and Lots or Buildings sites, but also site plans, floor plans, and elevations
of all Buildings as intended be located, constructed, used and related to each other, and detailed
plans for other uses and improvements on the land as related to the Buildings; and with a
program for provision, operation and maintenance of such areas, improvements, facilities, and
11
services as will be for common Use by some or all of the occupants of the District, but will not be
provided, operated, or maintained at general public expense.
Planned Development is both a concept and a zoning classification which may include, in
addition to planned unit development, commercial, shopping center, and industrial uses or
combination thereof, which may be intended to serve areas within the District and areas
without the District.
Rear Yard: The required Rear Yard is an Open Space unoccupied and unobstructed except for
Accessory Uses extending across the rear of a Lot from one side Lot line to the other side Lot
line, the depth of which is dependent upon the zoning District in which the Lot is located.
Screening Element (Device): A barrier of permanent material of sufficient heights and density so
that the objects being screened are not visible from any point on the Lot line when viewed from
any height between ground level and seven feet above ground level and shall mean any of the
following:
(a) Any solid material constructed of brick, Masonry, or of a concrete or metal frame, or
wood or base which supports a permanent type material, the vertical surface of
which is not more than 30% open;
(b) Any dense evergreen hedge or plant material suitable for providing a visual barrier,
for which such material shall be maintained in a healthy growing condition; or
(c) Landscaped earth berms may, when appropriate in scale, be considered and used as
a Screening Element in lieu of a fence, wall, hedge, or other dense planting material.
Street: A public or private thoroughfare which affords the principal means of access to abutting
property.
The Villages of Hurricane Creek Concept Plan (Exhibit B): The graphic plan for The Villages of
Hurricane Creek that establishes and delineates the respective PD sub -districts such as the
Village Center and other Neighborhoods.
Thoroughfare: An officially designated federal or state numbered highway or county or other
road or Street designated as a primary thoroughfare on the official Thoroughfare Plan of the City
of Anna.
Thoroughfare Plan: The official Thoroughfare Plan of the City of Anna adopted by the City
Council establishing the location and official right-of-way width of principal highways and
Streets in the city, together with all amendments thereto subsequently adopted.
Use: The purpose for which land or a Building or structure thereon is designed, arranged
intended or maintained or for which it is or may be used or occupied. This definition does not
alter or affect the definition of Nonconforming Use as set forth in Section 39.01 of the Part.
(Ord. No. 457-2009, adopted 08/25/09)
Use, Accessory: A subordinate Use on the same Lot with the principal Use and incidental and
accessory thereto.
Yard: An Open Space, other than a Court, on the same Lot with a Building.
W1
Yard, Front: A yard extending across the full width of a Lot and having a depth equal to the
shortest distance between the front line of the Lot and the nearest portion of the main Buildings
including an enclosed or covered porch, provided that the Front Yard depth shall be measured
from the future Street line for a Street on which a Lot fronts, when such line is shown on the
official map or is otherwise established.
Yard, Rear: A yard extending across the full width of a Lot and having a depth equal to the
shortest distance between the rear line of the Lot and the main Building.
Yard, Side: A yard between the side line of the Lot and the main Building extending from the
Front Yard to the Rear Yard and leaving a width equal to the shortest distance between said side
line and the main Building.
Zoning Map: The official Zoning Map of the City of Anna together with all amendments
subsequently adopted.
*Rules for Words and Phrases: For the purposes of the City of Anna Zoning Ordinance, words
used in the present tense include the future tense; words in the singular number include the
plural number, and words in the plural number include the singular number; the word "shall" is
mandatory, not directory; the word "may" is permissive; the word "person" includes a firm,
association, organization, partnership, trust, foundation, company, or corporation as well as an
individual; the word "used" includes designed and intended or arranged to be used; the word
"Building" includes the word "structure"; the word "Lot" includes "Building Lot" or parcel.
Wherever the City of Anna Zoning Ordinance imposes a greater restriction than imposed by
other ordinances, laws, or regulations, the provisions of the City of Anna Zoning Ordinance shall
govern.
III. LOT TYPE REGULATIONS
The Villages of Hurricane Creek will include a specific lot type in order to achieve the goals
established for the district. The lot type and requirement shall be as follows:
A. Lot Type SF -84 (70' x 120'):
1. Purpose: The SF -84 Single Family Residential District is designed to
accommodate Single Family Residential development on relatively ample Lots.
The District can be appropriately located in proximity to agricultural and Single
Family Residential Uses.
2. Permitted Uses: A Building or premise in a SF -84 District shall be used only for
the purposes as listed in Appendix 2 of the City of Anna Zoning Ordinance. The
Permitted Uses are as follows:
a. Single family dwelling, detached;
b. Community center (public and private);
0
c. Park, playground, or recreational center (public and private);
d. School, public (primary and/or secondary); and
e. Swimming pool (private)
3. Specific Use Permit: The following specific uses shall be permitted in a SF -84
District, when granted in accordance with Section 37 of the City of Anna Zoning
Ordinance:
a. Public, parochial, and private schools and colleges offering courses of
general instruction and including convents, monasteries, dormitories,
and other related living structures when located on the same site as the
school or college.
b. Churches, synagogues, chapels, and similar places of religions worship
and instruction of a quiet nature when located in a substantial
structure.
c. Utility substations necessary to the functioning of the utility, but not
including general business offices, maintenance facilities and other
general system facilities, when located according to the yard space rules
set forth in this part for dwellings and have a landscaped or masonry
barrier on all sides. Building shall conform to all space limits of this zone
and shall be of such exterior designs to harmonize with nearby
properties.
d. Public and quasi -public buildings for cultural use.
e. Country clubs as defined herein.
f. Uses as listed in Appendix 2 of the City of Anna Zoning Ordinance.
4. Plan Requirements: Except as otherwise specifically authorized in the City of
Anna Subdivision Regulations, no building permit or Floodplain Development
Permit shall be issued by the City for any parcel of land until a Final Plat — or
Development Plat, as applicable —of the land has been recorded.
5. Height Regulations: No building shall exceed thirty-five feet (35').
6. Area Regulations: The following minimum standards shall be required as
measured from property lines:
Lot Size: 8,400 square feet
7
B.
Lot Coverage: The combined area covered by all main
buildings and accessory structures shall not
exceed fifty percent (50%) of the total lot area.
Building Size: The minimum square footage of a dwelling unit,
shall be two thousand (2,000) sf.
Front Yard: 20 feet minimum
Rear Yard: 15 feet minimum (the required Rear Yard shall
be open and unobstructed to the sky from a
point 30 inches above the average elevation of
the Graded Rear Yard, except for Accessory
Buildings as permitted herein. Eaves, covered
porches, and roof extensions without structural
support in the Rear Yard may extend into the
rear yard a distance not to exceed four feet.
Balconies shall not project into the required
Rear Yard.)
Side Yard, Interior: 5 feet minimum
Side Yard, Corner Lot,
Street Side: 15 feet minimum (45 feet where adjacent to
single Family or duplex residential District)
Lot Width: 70 feet minimum; (measured at the front
building line)
Lot Depth: 120 feet minimum
Masonry (Brick or rock veneer): 80%
7. Parking Regulations: Two enclosed spaces behind the Front Yard line for single-
family Dwelling Units and HUD Code manufactured homes. Other off -Street
parking regulations are set forth in Section 38 of the City of Anna Zoning
Ordinance.
8. Signs: Signs in this District shall comply with the requirements of the City of
Anna Sign Ordinance (as amended).
Lot Type SF -84 (80'x 120'):
1. Purpose: The SF -84 Single Family Residential District is designed to
accommodate Single Family Residential development on relatively ample Lots.
The District can be appropriately located in proximity to agricultural and Single
Family Residential Uses.
2. Permitted Uses: A Building or premise in a SF -84 District shall be used only for
the purposes as listed in Appendix 2 of the City of Anna Zoning Ordinance. The
Permitted Uses are as follows:
a. Single family dwelling, detached;
b. Community center (public and private);
c. Park, playground, or recreational center (public and private);
d. School, public (primary and/or secondary); and
e. Swimming pool (private)
3. Specific Use Permit: The following specific uses shall be permitted in a SF -84
District, when granted in accordance with Section 37 of the City of Anna Zoning
Ordinance:
a. Public, parochial, and private schools and colleges offering courses of
general instruction and including convents, monasteries, dormitories,
and other related living structures when located on the same site as the
school or college.
b. Churches, synagogues, chapels, and similar places of religions worship
and instruction of a quiet nature when located in a substantial
structure.
c. Utility substations necessary to the functioning of the utility, but not
including general business offices, maintenance facilities and other
general system facilities, when located according to the yard space rules
set forth in this part for dwellings and have a landscaped or masonry
barrier on all sides. Building shall conform to all space limits of this zone
and shall be of such exterior designs to harmonize with nearby
properties.
d. Public and quasi -public buildings for cultural use.
e. Country clubs as defined herein.
f. Uses as listed in Appendix 2 of the City of Anna Zoning Ordinance.
4. Plan Requirements: Except as otherwise specifically authorized in the City of
Anna Subdivision Regulations, no building permit or Floodplain Development
Permit shall be issued by the City for any parcel of land until a Final Plat — or
Development Plat, as applicable —of the land has been recorded.
5. Height Regulations: No building shall exceed thirty-five feet (35').
E
6. Area Regulations: The following minimum standards shall be required as
measured from property lines:
Lot Size: 9,600 square feet
Lot Coverage: The combined area covered by all main
buildings and accessory structures shall not
exceed fifty percent (50%) of the total lot area.
Building Size: The minimum square footage of a dwelling unit,
shall be two thousand (2,000) sf.
Front Yard: 20 feet minimum
Rear Yard: 15 feet minimum (the required Rear Yard shall
be open and unobstructed to the sky from a
point 30 inches above the average elevation of
the Graded Rear Yard, except for Accessory
Buildings as permitted herein. Eaves, covered
porches, and roof extensions without structural
support in the Rear Yard may extend into the
rear yard a distance not to exceed four feet.
Balconies shall not project into the required
Rear Yard.)
Side Yard, Interior: 5 feet minimum
Side Yard, Corner Lot,
Street Side: 15 feet minimum (45 feet where adjacent to
single Family or duplex residential District)
Lot Width: 80 feet minimum; (measured at the front
building line)
Lot Depth: 120 feet minimum
Masonry (Brick or rock veneer): 80%
7. Parking Regulations: Two enclosed spaces behind the Front Yard line for single-
family Dwelling Units and HUD Code manufactured homes. Other off -Street
parking regulations are set forth in Section 38 of the City of Anna Zoning
Ordinance.
8. Signs: Signs in this District shall comply with the requirements of the City of
Anna Sign Ordinance (as amended).
10
C. Lot Type SF -84 (90' x 120'):
1. Purpose: The SF -84 Single Family Residential District is designed to
accommodate Single Family Residential development on relatively ample Lots.
The District can be appropriately located in proximity to agricultural and Single
Family Residential Uses.
2. Permitted Uses: A Building or premise in a SF -84 District shall be used only for
the purposes as listed in Appendix 2 of the City of Anna Zoning Ordinance. The
Permitted Uses are as follows:
a. Single family dwelling, detached;
b. Community center (public and private);
c. Park, playground, or recreational center (public and private);
d. School, public (primary and/or secondary); and
e. Swimming pool (private)
3. Specific Use Permit: The following specific uses shall be permitted in a SF -84
District, when granted in accordance with Section 37 of the City of Anna Zoning
Ordinance:
a. Public, parochial, and private schools and colleges offering courses of
general instruction and including convents, monasteries, dormitories,
and other related living structures when located on the same site as the
school or college.
b. Churches, synagogues, chapels, and similar places of religions worship
and instruction of a quiet nature when located in a substantial
structure.
c. Utility substations necessary to the functioning of the utility, but not
including general business offices, maintenance facilities and other
general system facilities, when located according to the yard space rules
set forth in this part for dwellings and have a landscaped or masonry
barrier on all sides. Building shall conform to all space limits of this zone
and shall be of such exterior designs to harmonize with nearby
properties.
d. Public and quasi -public buildings for cultural use.
e. Country clubs as defined herein.
f. Uses as listed in Appendix 2 of the City of Anna Zoning Ordinance.
11
4. Plan Requirements: Except as otherwise specifically authorized in the City of
Anna Subdivision Regulations, no building permit or Floodplain Development
Permit shall be issued by the City for any parcel of land until a Final Plat — or
Development Plat, as applicable —of the land has been recorded.
5
7
Height Regulations: No building shall exceed thirty-five feet (35').
Area Regulations: The following minimum standards shall be required as
measured from property lines:
Lot Size:
10,800 square feet
Lot Coverage: The combined area covered by all main
buildings and accessory structures shall not
exceed fifty percent (50%) of the total lot area.
Building Size: The minimum square footage of a dwelling unit,
shall be two thousand (2,000) sf.
Front Yard: 20 feet minimum
Rear Yard: 15 feet minimum (the required Rear Yard shall
be open and unobstructed to the sky from a
point 30 inches above the average elevation of
the Graded Rear Yard, except for Accessory
Buildings as permitted herein. Eaves, covered
porches, and roof extensions without structural
support in the Rear Yard may extend into the
rear yard a distance not to exceed four feet.
Balconies shall not project into the required
Rear Yard.)
Side Yard, Interior: 5 feet minimum
Side Yard, Corner Lot,
Street Side: 15 feet minimum (45 feet where adjacent to
single Family or duplex residential District)
Lot Width: 90 feet minimum; (measured at the front
building line)
Lot Depth: 120 feet minimum
Masonry (Brick or rock veneer): 80%
Parking Regulations: Two enclosed spaces behind the Front Yard line for single-
family Dwelling Units and HUD Code manufactured homes. Other off -Street
12
parking regulations are set forth in Section 38 of the City of Anna Zoning
Ordinance.
8. Signs: Signs in this District shall comply with the requirements of the City of
Anna Sign Ordinance (as amended).
D. Lot Type SF -84 (100' x 150'):
1. Purpose: The SF -84 Single Family Residential District is designed to
accommodate Single Family Residential development on relatively ample Lots.
The District can be appropriately located in proximity to agricultural and Single
Family Residential Uses.
2. Permitted Uses: A Building or premise in a SF -84 District shall be used only for
the purposes as listed in Appendix 2 of the City of Anna Zoning Ordinance. The
Permitted Uses are as follows:
a. Single family dwelling, detached;
b. Community center (public and private);
c. Park, playground, or recreational center (public and private);
d. School, public (primary and/or secondary); and
e. Swimming pool (private)
3. Specific Use Permit: The following specific uses shall be permitted in a SF -84
District, when granted in accordance with Section 37 of the City of Anna Zoning
Ordinance:
a. Public, parochial, and private schools and colleges offering courses of
general instruction and including convents, monasteries, dormitories,
and other related living structures when located on the same site as the
school or college.
b. Churches, synagogues, chapels, and similar places of religions worship
and instruction of a quiet nature when located in a substantial
structure.
c. Utility substations necessary to the functioning of the utility, but not
including general business offices, maintenance facilities and other
general system facilities, when located according to the yard space rules
set forth in this part for dwellings and have a landscaped or masonry
barrier on all sides. Building shall conform to all space limits of this zone
and shall be of such exterior designs to harmonize with nearby
properties.
13
d. Public and quasi -public buildings for cultural use.
e. Country clubs as defined herein.
f. Uses as listed in Appendix 2 of the City of Anna Zoning Ordinance.
4. Plan Requirements: Except as otherwise specifically authorized in the City of
Anna Subdivision Regulations, no building permit or Floodplain Development
Permit shall be issued by the City for any parcel of land until a Final Plat — or
Development Plat, as applicable — of the land has been recorded.
5. Height Regulations: No building shall exceed thirty-five feet (35').
6. Area Regulations: The following minimum standards shall be required as
measured from property lines:
Lot Size:
15,000 square feet
Lot Coverage: The combined area covered by all main
buildings and accessory structures shall not
exceed fifty percent (50%) of the total lot area.
Building Size: The minimum square footage of a dwelling unit,
shall be two thousand (2,000) sf.
Front Yard: 20 feet minimum
Rear Yard: 15 feet minimum (the required Rear Yard shall
be open and unobstructed to the sky from a
point 30 inches above the average elevation of
the Graded Rear Yard, except for Accessory
Buildings as permitted herein. Eaves, covered
porches, and roof extensions without structural
support in the Rear Yard may extend into the
rear yard a distance not to exceed four feet.
Balconies shall not project into the required
Rear Yard.)
Side Yard, Interior: 5 feet minimum
Side Yard, Corner Lot,
Street Side: 15 feet minimum (45 feet where adjacent to
single Family or duplex residential District)
Lot Width: 100 feet minimum; (measured at the front
building line)
14
Lot Depth: 150 feet minimum
Masonry (Brick or rock veneer): 80%
7. Parking Regulations: Two enclosed spaces behind the Front Yard line for single-
family Dwelling Units and HUD Code manufactured homes. Other off -Street
parking regulations are set forth in Section 38 of the City of Anna Zoning
Ordinance.
8. Suns: Signs in this District shall comply with the requirements of the City of
Anna Sign Ordinance (as amended).
TABLE NO. 3-1
Land Use Summary
LAND USE SUMMARY
USE
ACREAGE +/-
SF LOTS
SF DENSITY
(UNITS/ACRE)
PERCENTAGE
SINGLE FAMILY RESIDENTIAL'PD-XX' - 50% MAXIMUM LOT COVERAGE
70'x 120' LOTS 84.07
365
4.34
51.4%
80'x 120' LOTS 45.32
185
4.08
27.7%
90' x 120' LOTS 14.61
55
3.76
8.9%
100' x 150' LOTS 19.70
49
2.49
12.0%
TOTAL 163.7
654
4.00
44.5%
OPEN SPACE 148.7
40.4%
FIRE STATION 2.5
0.7%
AMENITY CENTER 2.0
0.5%
ROW DEDICATION 51.3
13.9%
TOTAL 368.2
654
1.76 GROSS
100.0%
IV. DEVELOPMENT AND DESIGN STANDARDS
A. Accessory Buildings: All development within The Villages of Hurricane Creek Planned
Development District shall comply with Section 35 of the City of Anna Zoning Ordinance
in effect at the time of City Council approval of this ordinance.
Nothing in this ordinance shall be construed as preventing any Architectural Control
Committee with jurisdiction over any neighborhood from further restricting permission,
location, and type of any accessory structure.
15
B. Screening and Fences: All development within The Villages of Hurricane Creek Planned
Development District shall comply with Section 40 of the City of Anna Zoning Ordinance
in effect at the time of City Council approval of this ordinance
C. Landscape Standards: All development within The Villages of Hurricane Creek Planned
Development District shall comply with the City of Anna Code of Ordinance Part I11 -E
(Landscape Regulations) in effect at the time of City Council approval of this ordinance.
1. Tree Requirements:
For all single-family and duplex parcels, builders shall be required to plant two
large trees (minimum of three-inch caliper and seven feet high at time of
planting) per lot prior to obtaining a certificate of occupancy. At least one of the
trees shall be located in the front yard. Existing quality trees of at least three-
inch caliper size located on the lot shall count to meet this standard if
appropriate tree protection measures have been followed. (Ord. No. 56-2003,
adopted 2/11/2003)
Requirements for single family residential and duplex lots three-inch caliper
trees selected from the Large Tree list in the City of Anna Landscape Regulations
shall be planted on all single family residential, duplex, and town home lots. At
least one of the trees must be placed in the front yard of the lot. Single Family
Residential (SF -84) requires 3 trees. The following are approved large trees:
Caddo Maple
Pecan
Shagbark Hickory
DeodarCedar
Texas Persimmon
Black Walnut
Eastern Black Walnut
Red Cedar
Eastern Red Cedar
Sweetgum
Southern Magnolia
Chinese Pistachio
Texas Pistache
Bur Oak
Chinquapin Oak
Shumard Oak
Texas Red Oak
Live Oak
Western Soapberry
Bald Cypress
Winged Elm
American Elm
Cedar Elm
Chinese Elm
Lace Bark Elm
Siberian Elm
16
D. Off -Street Parking Requirements: All development within The Villages of Hurricane
Creek Planned Development District shall comply with Section 38 of the City of Anna
Zoning Ordinance.
E. Residential Architectural Standards:
1) House repetition.
a. Within residential developments, single family homes with substantially
identical exterior elevations can only repeat every four (4) lots when
fronting the same right-of-way including both sides of the street.
b. Homes side by side or across the street within one house (directly
across the street or "caddy corner" across the street) shall not have
substantially identical exterior elevations.
2) Building Articulation. At least four facade articulation techniques are required on
each single family home to add architectural variety and interest to a building. The
following features shall be acceptable techniques of exterior articulation.
a. A base course or plinth course; banding, moldings, or stringcourses;
quoins; oriels; cornices; arches; balconies; brackets; shutters; keystones;
dormers; louvers as part of the exterior wall construction. (Quoins and
banding shall wrap around the corners of the structure for at least two
feet.
b. Horizontal banding continuing the length of the wall that faces a street,
or other similar highly visible areas.
c. The use of both stone and brick on the front elevations with a minimum
of ten percent coverage of one of the elements.
d. Front porch of at least 50 square feet.
e. The installation of at least two (2) coach lights.
f. Other techniques for Building Articulation can be substituted if
administratively approved by the Administrative Official.
3) Roofs.
a. Except for porch roofs and shed roofs, pitched roofs shall have a
minimum slope of 6" x 12" (six inches vertical rise for every 12 inches
horizontal run) and shall have an overhang at least 1' (one foot) beyond
the building wall; however, the overhang shall not encroach into a
setback more than one foot. Porch roofs and shed roofs must have a
minimum pitch of 4" x 12".
b. Roofing materials in all residential districts may only consist of
architectural asphalt shingles (including laminated dimensional
shingles), clay and concrete tile, metal shingles, mineral -surfaced row
roofing, slate and slate -type shingles, wood shingles, wood shakes or an
equivalent or better product as compared with said materials. Should
architectural shingles be used as roofing material, said shingles shall be
accompanied with a minimum 25 year warranty. Under no
circumstances shall three -tab shingles be used as roofing material.
4) Garages. Garages maybe front facing orJ Swing type.
17
5) Fenestration.
a. Windowless exterior walls, excluding garage doors that face a public
right-of-way, or other similar highly visible areas are prohibited. On two
story structures, windows are required on the first and second story
facing a public right-of-way.
b. Windows shall be in harmony with and proportionate to the rest of the
structure.
c. The use of reflective glass on residential structures is prohibited.
Reflective glass will be defined as having a visible light reflectance rating
of 15% or greater
6) Masonry Content.
a. Except as noted below, the exterior walls (excluding windows and
doors) on the First Floor Front Elevation of any single family home shall
be 90 percent masonry and 80 percent on the second floor front
elevation. The total cumulative surface area of the remaining exterior
walls (excluding windows and doors) shall be 80% masonry.
b. Except as noted below, the exterior walls (excluding windows and
doors) on the Front Elevation of any multi -family structure shall be 100
percent masonry. The total surface area of the remaining exterior walls
(excluding windows and doors) shall be 90% masonry.
c. Second floor Dutch Gable Roof elements are not required to be
masonry if setback at least 3 feet from the first floor front elevation
vertical plane.
7) Exceptions to the Residential Architectural Standards in this section may be only
occur after application and review by the Planning and Zoning Commission and
approval by the City Council by Specific Use Permit.
(Ord. No. 597-2012, adopted 10/23/2012)
18
V. DEVELOPMENT SCHEDULE
Date
Total Lots
2015
150
2016
250
2017
300
2018
375
2019
450
2020
550
2021
654
Home construction anticipated through the end of 2021.
Section 3. Official Zoning Map
The official Zoning Map of the City shall be corrected to reflect the change in zoning described
herein.
Section 4. Savings, Repealing and Severability Clauses
It is hereby declared to be the intention of the City Council that the words, sentences, paragraphs,
subdivisions, clauses, phrases, and provisions of this ordinance are severable and, if any phrase,
sentence, paragraph, subdivision, clause, or provision of this ordinance shall be declared
unconstitutional or otherwise invalid or inapplicable by the valid judgment or decree of any court
of competent jurisdiction, such unconstitutionality, invalidity or inapplicability shall not affect
any of the remaining words, sentences, paragraphs, subdivisions, clauses, phrases, or provisions
of this ordinance, since the same would have been enacted by the City Council without the
incorporation in this ordinance of any such unconstitutional, invalid or inapplicable words,
sentences, paragraphs, subdivisions, clauses, phrases, or provisions. Further, all ordinances or
parts of ordinances in force when the provisions of this ordinance become effective that are
consistent and do not conflict with the terms and provisions of this ordinance are hereby ratified
to the extent of such consistency and lack of conflict, and all ordinances or parts of ordinances in
force when the provisions of this ordinance become effective that are inconsistent or in conflict
with the terms and provisions contained in this ordinance are hereby repealed only to the extent
of any such conflict.
19
Section 5. Penalty
Any violation of any of the terms of this ordinance, whether denominated in this ordinance as
unlawful or not, shall be deemed a misdemeanor. Any person convicted of any such violation
shall be fined in an amount not to exceed $2,000 for each incidence of violation. Each day a
violation exists is considered a separate offense and will be punished separately.
Section 6. Publication of the Caption and Effective Date
This ordinance shall be effective upon its passage by the City Council, approval by the Mayor,
and posting and/or publication, if required by law, of its caption. The City Secretary is hereby
authorized and directed to implement such posting and/or publication.
PASSED by the City Council of the City of Anna, Texas this day of
2014.
ATTESTED:
APPROVED:
Natha Wilkison, City Secretary Mike Crist, Mayor
20
EXHIBIT "A"
LEGAL DESCRIPTION
BEING all that certain tract of land situated in then Joseph Boyle Survey, Abstract Number 105, the John
Coffman Survey, Abstract Number 197 the J. M. Kincade Survey, Abstract Number 509 J. W. Mitchel
Survey, Abstract Number 565 the W. Rattan Survey, Abstract Number 752 and the T. Rattan Survey,
Abstract Number 785, Collin County, Texas and being all of a called 262.41 acre tract as described by
deed to Villages of Hurricane Creek, LP recorded in Volume 5430, Page 9864 of County Records, Collin
County, Texas and being part of a called 114.252 acre of land described by deed to Don Collins, et al
recorded in Volume 5257, Page 4877 of said County Records and being more particularly described by
metes and bounds as follows:
BEGINNING at the southeast corner of said 262.41 acre tract, in the west line of said 114.252 acre tract:
THENCE S 89°54'24"W, 2687.84 feet;
THENCE N 00°04'27"W, 387.21 feet;
THENCE N 89°58'14"W, 849.21 feet;
THENCE N 03°33'44"E, 1188.00 feet;
THENCE N 88°26'26"W, 365.15 feet;
THENCE N 23°08'27"W, 67.47 feet;
THENCE N 02°48'15"E, 1930.31 feet;
THENCE N 89°5255"E, 465.63 feet;
THENCE N 89°15'32"E, 742.56 feet;
THENCE S 90°00'00"E, 1755.97 feet to the northeast corner of said 262.41 acre tract of land and being
the northwest corner of said 114.252 acre tract;
THENCE N 89°11'00"E, 794.06 feet;
THENCE S 00°10'57"W, 232.18 feet;
THENCE N 89°56'12"E, 1184.36 feet;
THENCE S 01°06'39"E, 55.96 feet to the beginning of a curve to the right;
THENCE with said curve to the right, an arc distance of 205.39 feet, through a central angle of 16°48'41",
having a radius of 700.00 feet, the long chord which bears S 07°17'41"W, 204.65 feet;
21
THENCE S 15°42'02"W, 121.60 feet;
THENCE with said curve to the left, an arc distance of 205.39 feet, through a central angle of 16°48'41",
having a radius of 700.00 feet, the long chord which bears S 07°1741"W, 204.65 feet;
THENCE S 01°06'39"E, 201.55 feet;
THENCE with said curve to the right, an arc distance of 116.43 feet, through a central angle of 09°31'48",
having a radius of 699.99 feet, the long chord which bears S 03°39'15"W, 116.30 feet;
THENCE S 08°25'09"W, 393.86 feet;
THENCE with said curve to the left, an arc distance of 101.69 feet, through a central angle of 08°19'23",
having a radius of 700.03 feet, the long chord which bears S 04°15'28"W, 101.60 feet;
THENCE S 00°0544"W, 1035.62 feet;
THENCE with said curve to the right, an arc distance of 530.61 feet, through a central angle of 43°25'52",
having a radius of 700.00 feet, the long chord which bears S 21°48'40"W, 518.00 feet;
THENCE S 43°31'37"W, 241.38 feet;
THENCE with said curve to the right, an arc distance of 25.41 feet, through a central angle of 00°02'48",
having a radius of 400.00 feet, the long chord which bears S 43°40'02"W, 25.41 feet;
THENCE N 89°44'50"W, 655.06 feet;
THENCE S 00°56'11"E, 265.80 feet to the Point of Beginning and containing 16,037,378 square feet or
368.2 acres of land more or less.
22
EXHIBIT "B"
CONCEPT PLAN
23
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CITY OF ANNA
TAX INCREMENT REINVESTMENT ZONE NO. _
PRELIMINARY PROJECT AND FINANCING PLAN
December 3, 2015
MuniCap, Inc V1.3
Draft
CITY OF ANNA
TAX INCREMENT REINVESTMENT ZONE No. _
PRELIMINARY PROJECT AND FINANCING PLAN
Table of Contents
I Executive Summary 1
II Assessment and Tax Collection Procedures 3
III Historical Appreciation in Taxable Values 9
IV Project Plan 11
V Financing Plan 14
VI Assumptions and Limitations 22
List of Appendix
Appendix A - Maps
Appendix B — Estimated Project Costs
Appendix C - Bond Debt Service Schedule
Appendix D — Projected Absorption
Appendix E — Projected Assessed Values
Appendix F — Projected Incremental Real Estate Taxes
Appendix G — Development Standards
MuniCap, Inc V1.3
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I. Executive Summary
PURPOSE OF TIRZ PROJECT AND FINANCING PLAN
The purpose of this plan is to provide estimates of real property tax increment revenues resulting
from the proposed Villages of Hurricane Creek development (the "Development") and
available to offset assessments to be levied for repaying bonds to be issued by the City of
Anna, Texas (the "City"). In particular, the study provides estimates of future real property tax
increment revenues generated by the property within the City of Anna Tax Increment
Reinvestment Zone No. _ (the "TIRZ").
As real property taxes are generated on an ad valorem basis from assessed values, it is first
necessary to estimate the future assessed value resulting from the TIRZ. This plan provides
assessed value information based on the following:
• The development is completed as proposed by CADG Hurricane Creek, LLC (the
"Developer");
• The units are sold according to the development pace estimated by the Developer, as
summarized in subsequent sections of this report;
• Property values are projected to increase at 1.89 percent annual rate of inflation through
estimated build -out in calendar year 2025 as calculated based on the ten-year average growth
rate of annual average single family home prices between 2006 and 2015; and
• The real property tax rate remains static at the tax year 2015 level in future years.
ORGANIZATION OF TIRZ PLAN
This plan begins with a discussion of the assessment and tax collection procedures within the
City. Following this discussion is an analysis of historic appreciation of taxable values within
the City. The report continues with a project plan that includes a narrative description of the
TIRZ. Next, an account of the proposed development within the TIRZ, including an estimate of
the projected market and assessed values for the proposed properties, is provided.
The report continues with a calculation of real property tax increment revenues based on the
estimated assessed values in preceding sections of the report. Finally, the report provides
comprehensive projections of all estimated available revenue created by the TIRZ and shows the
estimated debt service coverage generated by this revenue.
RESULTS
In summary, the TIRZ financing analysis indicates that, assuming 1.89 percent annual inflation
through estimated build -out in calendar year 2025, the TIRZ is estimated to have an incremental
value of $264,349,727 million at the time of completion of all phases in calendar year 2025.
Table I -A provides the projected total and incremental assessed value for the District after the
projected build -out in calendar year 2025. Refer to Appendices E and F, attached hereto, for more
information on the projected incremental value for each year.
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TABLE I -A
Projected Assessed Values
Year
Projected Value
Base Value'
Incremental Value
2026
$264,349,727
($2,455,530)
$261,894,197
1 - The base value of $2,455,530 represents the 2015 market value shown in CAD records.
The assessed values displayed in Table I -A are the basis for estimating incremental real
property taxes. The projected incremental taxes are shown in Table I -B. The project is
anticipated to be fully built out in calendar year 2025. Accordingly, the property in the TRIZ is
anticipated to be assessed in full starting January 2026 and the related incremental taxes will
become fully available starting 2027.
TABLE I -B
Projected Incremental Taxes
Annual Incremental
Taxes at Build -out
Total Incremental Taxes
through tax year 2045
$1,673,504
$39,730,436
Refer to Appendix F for projected tax increment revenues for each year. Estimates of annual debt
service coverage are included in Appendix C of this report.
The financing plan for the public improvements contemplates the issuance of special revenue
bonds by the City secured by special assessments on property within the Villages of Hurricane
Creek Public Improvement District ("PID Assessments"). The bonds secured by the PID
Assessments are referred to as the "PID Bonds" and are estimated to total $30,000,000,
$17,000,000 in bond par amounts of which is anticipated to be used to finance the major
improvements including the Project Costs.
The TIRZ Project Costs represent a portion of the total public improvements to be funded with
the PID Bonds. As a result, real property tax increment revenues are intended to pay an equivalent
portion the debt service on the PID Bonds and will be applied as discussed more fully in PID
Service and Assessment Plan.
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IL Assessment and Tax Collection Procedures
ASSESSMENT PROCEDURES
Overview
Pursuant to Texas Tax Code, all taxable property is appraised at its market value as of January 1
of each year. Each county in Texas is served by an appraisal district, which determines the value
of all of the county's taxable property. Generally, local governments that collect property taxes,
such as counties, cities and school districts, are members of the appraisal district.
Methodology
The appraisal districts use different valuation methods depending on property type and
circumstances. A brief description of these methods follows.
Cost Approach — As the name implies, the cost approach values property on the basis of the
costs of development. The value of a structure is determined by estimating the cost to replace
the building with a new structure and then subtracting depreciation. This method assumes the
cost of replacing the existing building plus the value of the land equals market value. The steps
in applying the cost approach include:
• Estimating the site value (land and site improvements) through review of comparable
sales;
• Estimating the cost of replacing the existing building with one of similar usefulness
(reflecting current building design and materials); and
• Deducting all sources of depreciation, including physical deterioration ("wear and tear"
on a building) and functional and economic obsolescence. Functional obsolescence is the
reduced ability of the building to perform the function it was originally designed and built
for. Economic obsolescence refers to external forces that affect the ability of the building
to continue to perform, such as changes in transportation corridors and new types of
building design demanded by the market.
The cost approach is relied upon most often when the property being appraised is new or nearly
new and income is not yet stabilized, where there are no comparable sales, or where the
improvements are relatively unique or specialized.
Market Data Comparison Approach — The market data comparison approach is based on the
premise that the value of a specific property is set by the price an informed purchaser would pay
for a comparable property, offering similar desirability and usefulness. For instance, if recent
sales of condominium units within the same building indicate an increase in market values, all
assessed values for condominiums in the building will be reassessed to reflect this increase in
market value. This requires an understanding and comparison of market variables, such as
location, property size, physical features and economic factors. The process of identifying and
analyzing comparable property sales is repeated until a satisfactory range of value indicators for
the subject property is established and a final estimate of value is possible. The limitations of the
sales comparison approach are that it requires recent sales data for similar properties. The
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sales comparison approach is relied upon most often for appraising the sale of residential property
and is most likely to be relevant for the proposed residential development in the TIRZ.
According to the Collin Central Appraisal District ("CAD"), properties developed in new
subdivisions are typically appraised based on the sales price of the new homes developed in the
subdivisions using a market comparison approach to value.
Income Approach — The income approach to value is based on the premise that the value of a
property is directly related to the income it will generate. The appraisal districts analyze both
the property's ability to produce future income and its expenses, and based on projected
new income, estimates the property's value. The appraiser develops a capitalization rate by
analyzing the sales of similar income properties and determining the relationship between the sale
price and net income.
The steps in applying the income capitalization approach are to determine the stabilized, net -
operating income by:
• Estimating potential gross income from all sources;
• Deducting an allowance for vacancy and bad debts; and
• Deducting all direct and indirect operating expenses.
The resulting net operating income is capitalized by a market rate, which reflects the property
type and effective date of valuation to produce an estimate of overall property value.
To determine the effective gross income, the appraiser estimates market rents by analyzing
rents, both within the property being assessed and in comparable properties in the neighborhood,
and making an allowance for vacancy and collection loss. Net operating income is estimated by
deducting operating expenses.
The appraiser typically determines the capitalization rate by analyzing sales (comparing net
operating income to sale price) in the same market for similar properties to determine
the ratio of net operating income to sales price. The capitalization rate will vary depending on
the attractiveness of a property as an investment, income risks and physical factors, among other
factors. In the absence of sufficient sales data, the appraisal districts may use standard industry
rates as generated by other sources to determine cap rates.
The income approach is relied upon most often when appraising properties that produce a rental
income from single or multiple tenants. The capitalized value of the income stream provides an
estimate of the market value of the property (land and improvements).
An appraisal district may use any of the three common methods to value property. The
legislature also authorizes appraisal districts to use a method called mass appraisal to calculate
the value of a large number of similar properties. According to Section 23.01(b) of the Texas
Property Tax Code:
if the appraisal district determines the appraised value of a property using mass appraisal
standards, the mass appraisal standards must comply with the Uniform Standards of
Professional Appraisal Practice. The same or similar appraisal methods and techniques shall
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be used in appraising the same or similar kinds of property. However, each property shall be
appraised based upon the individual characteristics that affect the property's market value,
and all available evidence that is specific to the value of the property shall be taken into
account in determining the property's market value.
Appeals
According to the CAD, property owners may utilize the CAD appeal procedures if they have a
concern about:
• the market or appraised value of the property;
• unequal appraisal of the property compared to other properties;
• the inclusion of the property on the appraisal roll;
• any exemptions that may apply to the property owner;
• the qualification for an agricultural or timber appraisal;
• the taxable status of the property;
• the local governments which should be taxing the property;
• the ownership of property;
• a change of use of land receiving special appraisal;
• any action taken by the chief appraiser, CAD or Appraisal Review Board ("ARB") that
applies to and adversely affects the property.
If property owners cannot resolve their concern informally with the CAD staff, they may have
their cases heard by the ARB. The ARB is an independent board of citizens that review problems
with appraisals or other concerns listed above. It has the power to order the CAD to make the
necessary changes to solve problems. If a property owner files a written request for an ARB
hearing (called a notice of protest) on or before May 31 (or 30 days after the notice of appraised
value was mailed to the property owner, whichever is later), the ARB will set the case for a
hearing. The property owner will receive written notice of the time, date, and place of the
hearing. After it decides the case, the ARB must send them a copy of its order by certified mail.
If the property owner is not satisfied with the decision, it has the right to appeal. If it chooses to
go to court, the property owner must start the process by filing a petition within 60 days of
the date it receives the ARB's order. In certain cases, as an alternative to filing an appeal in
district court, the property owner may file not later than the 45th day after it receives notice of
the ARB order a request for binding arbitration with the CAD. In certain cases originating in
certain counties, as an alternative to filing an appeal in district court, the property owner may
appeal to the State Office of Administrative Hearings (SOAH). An appeal to SOAH is initiated
by not later than the 30th day after the property owner receives notice of the ARB's order by
filing with the chief appraiser of the CAD a notice of appeal. CAD also takes a similar approach.
TAXATION PROCEDURES
Timeline
The assessment and property tax process for each tax year includes the following steps:
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Dates Event
January 1 CADS are required to appraise property on this date. A lien attaches to
each taxable property to ensure property tax payment.
January 1 - April 30 CAD completes appraisals and processes applications for exemptions.
April - May Appraisal districts send notices of appraised value.
May 1 Appraisal review board begins hearing protests from property owners.
July 1 Local taxing units may impose additional penalties for legal costs related
to collecting unpaid taxes.
August - September Local taxing units adopt tax rates.
October 1 Local taxing units (or county tax assessor -collector, acting on their
behalf) begin sending tax bills to property owners.
January 31 Taxes due to local taxing units (or county tax assessor -collector, if acting
on their behalf).
February 1 Local taxing units begin charging penalty and interest for unpaid tax
bills.
Penalties and Interest
According to the Collin County Tax Collector's offices, If taxes are not paid by January 31St,
penalties and interest will accrue are follows:
If tax paid in:
Penalty
_
Interest _
Total
February
6%
+
1%
= 7%
March
7%
+
2%
= 9%
April
8%
+
3%
= 11%
May
9%
+
4%
= 13%
June
10%
+
5%
= 15%
July
12%
+
6%
= 18%
Penalties reach a maximum of 12% and interest of 1% is added each month after the due date. All
real property accounts not paid in full by June 30th of the year in which they become delinquent
will be referred to the delinquent tax attorney for enforced collection and will incur an additional
penalty equal to 15% - 20% of the total taxes, penalties, and interest due.
Historical Levy and Collection Summary
According to City records, on average 97 percent of real property taxes were paid within the
fiscal year they were levied from 2006 to 2014, as shown below in Table II -A.
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TABLE II -A
Summary of Levy and collections
Year
Total Tax
Levy'
Collected within the
Fiscal Year of the Levy
Amount2 Percentage
Collections
in
subsequent
Years3
2006
$1,186,370
$1,132,491
95.46%
$53,879
2007
$1,541,817
$1,494,560
96.93%
$47,257
2008
$2,038,288
$1,963,103
96.31%
$75,185
2009
$2,247,895
$2,189,575
97.41%
$58,320
2010
$2,407,914
$2,344,075
97.35%
$63,839
2011
$2,418,445
$2,340,959
96.80%
$77,486
2012
$2,346,442
$2,275,419
96.97%
$71,023
2013
$2,483,857
$2,436,406
98.09%
$47,451
2014
$2,807,140
$2,757,013
98.21%$50,127
Source: City of Anna audited financial statements
1— Amounts reported as property tax revenue in the city audited financial statements.
2 — Amounts calculated as the difference between property tax revenues and property taxes
receivable as of the end of each fiscal year..
3 — Amounts reported as property taxes receivable as of the end of each year.
Tax Sale
According to the Collin County Tax Collector's website, tax sales are held once orders of sale are
issued from the district courts in reference to tax judgments for delinquent taxes. Real property
being sold as a result of a foreclosure to satisfy delinquent taxes is required by Texas law to be
sold on the first Tuesday of the month. All counties have sales on the same day.
Tax Rates
Tax rates are set on an annual basis by the City. For tax year 2015, the real property tax rate in
the City is $0.639000 per $100 of assessed value.
City tax rates have fluctuated in past years. It is likely that the tax rate will continue to change
overtime; for purposes of this study, however, it is assumed that the tax rate will remain at its
current level in future years. The City intends to apply approximately 50 percent of the
incremental taxes generated from the development of the property in the PID, which property is
also contained in the TIRZ, for the repayment of a portion of the PID Bonds issued to finance the
improvements referenced in this Project and Finance Plan.
Table II -B provides historical tax rates in the City from tax years 2006 to 2015.
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TABLE II -B
City of Anna Historical Tax Rates 2006-2015
Tax Year
City Tax Rate Per $100
Assessed Value
2006
$0.525000
2007
$0.575000
2008
$0.575000
2009
$0.622733
2010
$0.650332
2011
$0.650332
2012
$0.650332
2013
$0.650332
2014
$0.649000
2015
$0.639000
Source: CAD historical tax rates summary
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III. Historical Appreciation in Taxable Values
Property values typically appreciate over time. The City total taxable assessed value (TAV)
information from 2006 to 2015, as shown in the CAD certified totals for tax years 2006 through
2015, indicate that the aggregate TAV for single family homes has increased from year to year
except in 2010 through 2012.
Table III -A shows the average annual appreciation of assessed values in the City from 2006 to
2015. The percentage growth in any given year indicates the appreciation over the prior year and is
not cumulative.
TABLE I11 -A
Historical Appreciation in Values
Year
Single
Family (SF)
Homes TAV
New
construction
SF Homes
TAV
Net Existing
SF Homes
TAV
Growth %
Total SF
Homes
Average
Home
Value
Growth %
2006
$199,527,259
$31,604,670
$167,922,589
1984
$100,568
2007
$263,024,626
$28,471,493
$234,553,133
18.19%
2287
$115,009
6.94%
2008
$296,002,445
$11,862,915
$284,139,530
10.06%
2488
$118,972
1.71%
2009
$295,837,682
$5,897,500
$289,940,182
1.02%
2584
$114,488
-1.90%
2010
$288,215,832
$979,167
$287,236,665
-0.47%
2615
$1109216
-1.88%
2011
$282,164,842
$899,486
$281,265,356
-1.04%
2653
$106,357
-1.77%
2012
$287,226,986
$6,014,449
$281,212,537
-0.01%
2859
$100,464
-2.81%
2013
$331,222,971
$21,688,228
$309,534,743
4.91%
3126
$105,957
2.70%
2014
$419,875,700
$30,278,959
$389,596,741
12.19%
3483
$120,550
6.66%
2015
$509,719,967
$36,441,651
$473,278,316
10.22%
3666
$139,040
7.40%
10 -Yr Averages
6.12%
1.89%
CAGR - 10 Yr
9.83%
10.92%
3.29%
CAGR -5Yr
12.56%
10.91%
5.51%
CAGR - 3 Yr
15.45%
15.20%
9.48%
Source — Collin CAD certified totals for tax years 2006 through 2015.
Based on the annual appreciation rates shown in Table III -A, the 10 -yr average annual growth
rate of average home values from 2006 to 2015 is approximately 1.89 percent, the compound
annual growth rate of average home values from 2006 to 2015 is approximately 3.29 percent, the
compound annual growth rate of average home values from 2011 to 2015 is approximately 5.51
percent and the compound growth rate of average home values from 2013 to 2015 is equal to 9.48
percent. A future annual appreciation rate of 1.89 percent for all property, representing the lowest
average growth rate computed using the three different value estimation bases shown in Table III-
A (total TAV of single family homes, total TAV of single family homes net of new construction
value and average home values) has been used for this study to project future appreciated assessed
values through estimated build out in calendar year 2025 and the estimated home values are held
9
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constant after build out. Based on the historic trends outlined in this section, this rate is believed
to be conservative.
(The remainder of this page is intentionally left blank)
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IV. Project Plan
Pursuant to Ordinance No. (the "TIRZ Ordinance"), the City created Reinvestment Zone
No. _, City of Anna, Texas as a TIRZ under the provisions of Chapter 311 of the Texas Tax
Code, as amended. The land within the TIRZ is comprised of approximately 368 acres and is
coterminous with the land within the PID.
As more fully described in subsequent sections of this report, approximately 654 residential
units are planned for the TIRZ. The City is planning to issue bonds for the purpose of
financing public improvements necessary for the improvements in the PID.
Tax increment financing is a redevelopment and financing tool by which governments can
provide financial assistance to fund infrastructure for eligible public and private redevelopment
efforts within an officially designated area of the development. Increases in property tax
revenues, which are generated primarily from new investment in the TIRZ, are allocated to pay
debt service on debt issued to pay for such infrastructure costs within the TIRZ.
LOCATION
The TIRZ is approximately 45 miles from Dallas, Texas, and approximately 70 miles from Fort
Worth, Texas. A map and metes and bounds of the TIRZ, as well as the corresponding proposed
development, are included as Appendix A to this Plan.
ECONOMIC AND DEMOGRAPHIC INFORMATION
According to the City website, the City is located on State Highway 5, Farm Road 455, and U.S.
Highway 75 eleven miles northeast of McKinney in north central Collin County.
According to City -Data, the population of the City has grown by approximately 27.6 percent
between 2010 and 2014 (US Census Bureau quick facts). According to City -Data, the average
unemployment rate of the City was 5 percent, compared to 5.5 percent for the State of Texas and
5.3 percent nationally (City-Data.com/city/Anna-Texas; Bureau of Labor Statistics) for June 2014.
The 2013 median household income for the City was $66,243 and the median home price
was $137,315, compared to the 2013 median household income of $51,704 and the median
home price of $132,000 for the State of Texas (City-Data.com/city/Anna-Texas).
EXISTING USES OF PROPERTY
According to the Developer and CAD records, the property within the TIRZ boundary is
classified as of January 1, 2015 under agricultural land use.
A site map showing the current uses of the property is included as Appendix A to this plan.
PROPOSED DEVELOPMENT
The TIRZ is proposed to be developed as a residential development with 654 residential units and
is proposed to include four types of single family residential lots. The property in the TIRZ is
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anticipated to be developed into 49 100 -ft lots, 55 90 -foot lots, 185 80 -foot lots and 365 70 -foot
lots to be developed in approximately three phases. Table IV -A summarizes the projected
development of the TIRZ. Detailed estimation of absorption for the development as provided by
the Developer on an annual basis is shown in Appendix D attached hereto.
Appendix A at the end of this section provides a concept plan for the proposed development
within the TIRZ.
TABLE IV -A
Summary of Proposed Development
Proposed Lot Type
Quantity
100 Ft Lots
49 units
90 Ft Lots
55 units
80 Ft Lots
185 units
70 Ft Lots
365 units
Total
654 units
Table IV -B below shows the proposed residential development within Phase 1.
Table IV -B
Proposed Development —Phase 1
Proposed Lot Type
Quantity
90 Ft Lots
19 units
80 Ft Lots
103 units
70 Ft Lots
85 units
Total
207 units
Table IV -C on the following page shows the proposed residential lot types within the remaining
future phases.
Table IV -C
Proposed Development — Future Phases other than Phase 1
Proposed Lot Type
Quantity
100 Ft Lots
49 units
90 Ft Lots
36 units
80 Ft Lots
82 units
70 Ft Lots
280 units
Total
447 units
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PROPOSED CHANGES
Details regarding the proposed zoning for the development, which are included in the Subdivision
Improvement Agreement between the Developer and the City (the "Subdivision Improvement
Agreement") dated as of March 11, 2015, are shown as Appendix G to this plan.
ESTIMATED NONPROJECT COSTS
According to the project engineer, the total estimated amount of improvements planned to be
constructed for the development is $45,407,244. As shown in Table V-A of this Project and
Finance Plan, the total estimated amount of Project Costs eligible for TIRZ incremental revenue
financing is $11,395,326. As a result, the total amount of public improvement costs that are not
eligible for TIRZ incremental revenue financing ("Nonproject Costs") is estimated to be
$34,011,918. Table IV -D shows a detailed list of these Nonproject Costs for public improvements
as provided by the project engineer.
Table IV -D
Estimated Nonproject Costs
1 — The Project Costs shown here include the estimated Developer funded portion of $485,663. See Table V-A for details.
METHOD OF RELOCATION
The proposed development is being developed on vacant land. Accordingly, there are no persons
to be relocated as a result of implementing the plan.
13
Total
Description
Estimated Costs
Improvements:
Road Improvements
$16,487,798
Water Distribution System Improvements
$2,579,602
Sanitary Sewer Collection System Improvements
$7,093,708
Storm Drainage Collection System Improvements
$1,520,401
Other Costs
$11,919,282
Subtotal: Estimated improvement costs
$39,600,791
Soft costs including engineering and testing
$337,515
estimated bond issuance costs details in Appendix B
$5,468,938
Subtotal: Estimated soft costs
$5,806,453
Grand Total Improvement + Soft Costs
$45,407,244
Less: Project Costs,
($11,395,326)
Total Nonproject Costs
$34,011,918
1 — The Project Costs shown here include the estimated Developer funded portion of $485,663. See Table V-A for details.
METHOD OF RELOCATION
The proposed development is being developed on vacant land. Accordingly, there are no persons
to be relocated as a result of implementing the plan.
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V. Financing Plan
PROJECT COSTS
Section 311.002 of the Tax Increment Financing Act defines project costs as "the expenditures
made or estimated to be made and monetary obligations incurred or estimated to be incurred by the
municipality or county designating a reinvestment zone that are listed in the project plan as costs of
public works, public improvements, programs, or other projects benefiting the zone, plus other costs
incidental to those expenditures and obligations." Project costs include:
(A) capital costs, including the actual costs of the acquisition and construction of public works,
public improvements, new buildings, structures, and fixtures; the actual costs of the acquisition,
demolition, alteration, remodeling, repair, or reconstruction of existing buildings, structures, and
fixtures; the actual costs of the remediation of conditions that contaminate public or private
land or buildings; the actual costs of the preservation of the facade of a public or private
building; the actual costs of the demolition of public or private buildings; and the actual costs of
the acquisition of land and equipment and the clearing and grading of land;
(B) financing costs, including all interest paid to holders of evidences of indebtedness or other
obligations issued to pay for project costs and any premium paid over the principal amount of
the obligations because of the redemption of the obligations before maturity;
(C) real property assembly costs;
(D) professional service costs, including those incurred for architectural, planning, engineering, and
legal advice and services;
(E) imputed administrative costs, including reasonable charges for the time spent by employees of
the municipality or county in connection with the implementation of a project plan;
(F) relocation costs;
(G) organizational costs, including the costs of conducting environmental impact studies or other
studies, the cost of publicizing the creation of the zone, and the cost of implementing the project
plan for the zone;
(H) interest before and during construction and for one year after completion of construction,
whether or not capitalized;
(1) the cost of operating the reinvestment zone and project facilities;
(J) the amount of any contributions made by the municipality or county from general revenue
for the implementation of the project plan;
(K) the costs of school buildings, other educational buildings, other educational facilities,
or other buildings owned by or on behalf of a school district, community college district, or
other political subdivision of this state; and
(L) payments made at the discretion of the governing body of the municipality or county that the
14
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governing body finds necessary or convenient to the creation of the zone or to the
implementation of the project plans for the zone.
The estimated project costs for the development are presented in Table V-A below. The detailed
project costs are presented in Appendix C of this plan.
Table V-A
Estimated TIRZ Project Costs
Project Costs
Total Estimated
Project Costs
Road Improvements
$5,567,504
Water Distribution System Improvements
$248,543
Sanitary Sewer Collection System Improvements
$2,069,616
Less: Developer funded portion
($485,663)
Subtotal:
$7,400,000
Other estimated bond issuance related costs (details in
Appendix B)
$3,509,663
Total Estimated Project Costs
$10,909,663
According to the Subdivision Improvement Agreement between the Developer and the City, the total
construction cost portion of the Project Costs to be funded with the TIRZ increments is limited to
$7,400,000. As a result, the total Project Costs eligible for TIRZ financing is equal to $10,909,663
($7,400,000 + $3,509,663). Appendix F shows the estimated net bond debt service obligation related
to the Project Costs is estimated to be $27,263,218. According to the Subdivision Improvement
Agreement, the maximum amount of City commitments as TIRZ contribution is set not to exceed
$21,048,883. See Appendix F for detailed calculations of these amounts.
DESCRIPTION OF TIRZ PROJECTS
The public improvements to be financed as TIRZ Projects include roadway, water and sewer
improvements along FM 455, roadway, water and sewer improvements related to four collector roads,
gravity mains, lift stations and trunk improvements (the "TIRZ Projects") detailed in Appendix B.
The estimated costs of the TIRZ Projects eligible for financing through TIRZ incremental revenues
are shown in Table V-A. The costs shown are estimates and may be revised in the future, including
the addition of such other improvements as deemed necessary to further improve the properties within
the TIRZ.
METHOD OF FINANCING
On February 24, 2015, the City of Anna City Council passed and approved Resolution No. 2015-
02.13 approving and authorizing the creation of the PID to finance the costs of certain public
improvements for the benefit of property in the PID, all of which is within the City. The PID and
the TIRZ boundaries are coterminous.
The property in the PID is proposed to be developed in approximately three phases, and the PID will
finance improvements for each phase as each phase is developed. Assessments will be imposed on
the all property in the PID for the improvements that benefit the entire PID and on the property in
15
Draft
each phase for the public improvements to be provided for that phase. As described in the Service and
Assessment Plan of the PID (the "SAP"), the City will issue bonds (the "PID Bonds") in order to
finance the improvements. The PID Bonds will be issued to finance the project costs shown in Table
V-A and other project improvement costs not covered by the TIRZ.
The City intends to apply 50 percent of the incremental taxes generated and collected from the
development of the property in the PID (the "TIRZ Revenues"), which property is also contained in
the TIRZ, for the repayment of a portion of the PID Bonds issued to finance the improvements
referenced in this Project and Finance Plan.
The City has agreed to use TIRZ Revenues generated from each parcel within the TIRZ to offset a
portion of the annual installments of the PID Assessment (the "Annual Installments") on the parcel
for the Project Costs (the "TIRZ Credit"). The PID Annual Installment for each Parcel shall be
calculated by taking into consideration any TIRZ Credit collected from each parcel in the
immediately preceding year applicable to each respective parcel.
ESTIMATED BONDED INDEBTEDNESS
The project costs are anticipated to be financed with PID Bonds, which may be issued in multiple
series.
Table V -B below shows the estimated sources and uses of the PID Bonds anticipated to be issued to
finance the major improvements including the Project Costs. The detailed estimated annual PID Bond
debt service schedule and the prorated debt service schedule related to the Project Costs are shown in
Appendix C to this plan.
Table V -B
Estimated Sources and Uses — PID Bonds
16
PID Bonds
City Major
Other Major
Sources of Funds
Improvements
Improvements
Total
Estimated Bond par amount
$10,909,663
$6,090,337
$17,000,000
Total Sources
$10,909,663
$6,090,337
$17,000,000
Uses of Funds
Major Improvements
Road improvements
$5,224,612
$1,982,947
$6,501,891
Water distribution system improvements
$233,236
$158,806
$248,543
Sanitary sewer improvements
$1,942,152
$246,399
$4,443,113
Storm drainage improvements
$0
$0
$0
Other soft and miscellaneous costs
$0
$395,933
$337,515
Subtotal
$7,400,000
$2,784,085
$11,531,062
Estimated Bond issue costs
$3,509,663
$1,959,275
$5,468,938
Total Uses
$10,909,663
$4,743,360
$17,000,000
16
Draft
ESTIMATED TIME OF EXPENDITURE
Total public improvement costs in the estimated amount of $45,407,244 including the total Project
Costs, are anticipated to be expended beginning 2016 through 2023.
CURRENT TOTAL APPRAISED VALUES
According to the Developer, there are five current parcels within the TIRZ boundary. According to
the Collin CAD records, the 2015 total market value for the three parcels is $2,455,530. The total
acreage of the three current parcels is 368 acres.
Table V -C
Current (2015) Appraised Values
Parcel ID
Acreage
2015
Assessed Value'
Collin County
2719039
181.89
$0
1001356
32.90
$493,455
2719040
22.28
$0
1007412
58.00
$870,000
2518072
73.96
$1,092,075
Total
369.03
$2,455,530
1 —The 2015 assessed value represents the 2015 market value shown in the
Collin CAD records for the parcels, although the parcels are classified as
agricultural use.
DURATION OF THE TIRZ
The TIRZ will last for a total of 30 years or until the estimated maximum amount of $21,048,883
representing the prorated amount of total bond obligations related to the TIRZ Project Costs is
expended, whichever occurs earlier. The TIRZ duration covers the tax years 2016 through tax year
2045. Pursuant to the Subdivision Improvement Agreement, the TIRZ Revenues may be used to offset
PID Annual Installments through December 31, 2047. See Appendix C for the detailed calculation of
the prorated amount of total bond obligations.
PROJECTED MARKET AND ASSESSED VALUE
As described in the discussion on assessment procedures in the appraisal district, assessed values are
based on values as appraised by CAD, which, in turn, are meant to represent fair market value of the
properties. Different property types may be appraised using different methods, as described in
Section II of this report. This section of the report includes the estimated assessed value and an
explanation of the methodology used for each of the proposed development types of the TIRZ.
17
Draft
Assumptions
The properties are first assumed to be on the tax roll as developed property based on estimates of
when the property will be substantially completed. No interim construction values are estimated in
this report. For each property type, this study estimates future absorption based on the projected
absorption as provided in the Developer's pro forma.
As stated in Section V, the development plan for the District includes approximately 654 residential
units. Based on the projected absorption from the developer's pro forma provided to the City, this
plan assumes that the residential development will be built -out beginning in calendar year 2017 and
continuing through calendar year 2025.
For purposes of this plan, it is assumed that the project is absorbed at the pace contemplated by the
Developer. According to the Developer, the sale of residential units is expected to start in 2017 and
continue until the units are fully absorbed by calendar year 2025. Accordingly, the residential units
are assumed to appear in the tax roll starting January 2018. Refer to Appendix D for detailed annual
absorption figures.
PROJECTED BASE SALES PRICES
The projected average base homes prices for the residential units in the development as estimated by
the developer are shown in Table V -D.
TABLE V -D
Base Asking Price Per Unit
Project/Building
Units
Price Per Unit
100 ft residential units
49
$475,000
90 ft residential units
85
$427,500
80 ft residential units
185
$380,000
70 ft residential units
365
$332,500
Total
654
Source: the lot type, estimated units and projected asking prices are provided by the Developer.
While it is possible that home buyers might negotiate the asking price, it is also believed that any
discount from the base price will be offset by charges for buyer options such as exterior and interior
finish upgrades, premium lot locations, and other potential upgrades. Therefore, this study
assumes that units at the subject site achieve the average base asking average prices per unit shown in
Table V -E.
PROJECTED MARKET AND ASSESSED VALUE
Based on the projected development and estimated home base asking price per unit outlined in Table
V -D, the total projected assessed value for the development is shown in Table V -E. The total values
shown in these tables assume full build -out and stabilized values using 2015 dollars. Detailed
calculations of values are shown in the attached Appendices G at completion in tax year 2026. This
18
Draft
study assumes an inflation rate of 1.89 percent based on the 10 -year average annual growth rate
of average home values calculated and shown in Table III -A in order to account for the effect of
market appreciation.
INCREMENTAL ASSESSED VALUES
As described in Section II of this Plan, the State of Texas mandates that property must be assessed
at its market value. Projected incremental assessed value at full build -out is shown in Table V -E.
TABLE V -E
Projected Incremental Values at Full Build -Out
Estimated Build -out Tax Year
Pro'ected Value
Base Value
Incremental Value
2026
$264,349,727
($2,455,530)
$261,894,197
Detailed calculations of incremental values are included in Appendices E and F to this plan.
CALCULATION OF INCREMENTAL TAX REVENUE
The increase in property value created within the TIRZ will produce additional real property taxes.
In accordance with Texas statute, this incremental revenue is calculated by subtracting the base
value from the new total assessed value to get the net incremental value, which is then multiplied
by the applicable tax rate to determine the incremental tax revenue. Currently, the tax rate for the
City is $0.639000 per $100 assessed value, as described in Section II of this report.
The aggregate base value for properties located within the TIRZ is $2,455,530 based on the 2015
market values of the parcels in the TIRZ shown in the CAD records. At completion of the
development, the property in the TIRZ is estimated to have an assessed value of $264,349,727 in
tax year 2026 using an assumed inflation rate of 1.89 percent per year through tax year 2026.
Incremental value is, therefore, estimated to be $261,894,197.
Total projected incremental taxes are as shown in the following calculations.
(Incremental Assessed Value) - 100 x (Tax Rate) = Incremental Real Property Tax
$261,894,197 - 100 x $0.639000 = $1,673,504
Appendices E and F include detailed calculations of projected incremental taxes.
Section II of this report describes various exemptions and credits that are available to certain
properties within the City. For the purposes of this report, no credits are assumed to pertain to the
property within the TIRZ. Therefore, total estimated tax increment revenues at full build -out of
Phase 1 are as shown in Table V -F.
19
Draft
TABLE V -F
Projected Incremental Taxes
Cumulative Total Through
Estimated Build -out Annual Incremental Taxes at Calendar Year Tax
Tax Year Build -Out I Year 2045
2026 $1,673,504 $39,730,436
'The analyses assume full build -out in calendar year 2025.
Detailed calculations of these figures are included in the attached Appendices E and F.
Pursuant to the TIRZ ordinance, the City has committed to use 50 percent of the incremental taxes
collected for the payment of a portion of the debt service on the PID Bonds that have been issued to
finance the projects described in this Project and Finance Plan. As a result, the total estimated tax
increment revenues available for the payment of debt service at full build -out are as shown
below in Table V -G.
TABLE V -G
Projected Incremental Taxes
Available for TIRZ Proiects
Annual Annual Incremental Taxes
Incremental available for payment of
Build -out Taxes at PID Bond
Tax Year Build -Out debt service Daywent
2026 $1,673,504 $19,865,218
PLAN FEASIBILITY
As explained in the previous sections of this plan, the development is proposed to be developed
on a vacant land. As shown in Table V -D, the current aggregate assessed value of the property in
the development is $2,455,530 (shown as market value in the CAD records).
Projected Absorption and Projected Build -out Total Home Values
The development is projected to be fully built -out by tax year 2026 based on the preliminary
absorption estimated by the Developer. Phase 1 is anticipated to be fully built out by calendar
year 2019. Phase 2 is anticipated to begin in the final previous Phase build -out year and is
anticipated to be fully built by calendar year 2023. Phase 3 is anticipated to begin in calendar year
2022 while Phase 2 is still underway and anticipated to be fully built out by calendar year 2025 as
shown in Table V -H.
20
Draft
Table V -H
Estimated Build -out by Current and Future Phases
Phase
Estimated Build
out year
No of
Units
Cumulative
No. of Units
1
2019
207
207
2 and 3
2025
447
654
Note: Phase 2 and 3 are shown together as Phase 3 is anticipated to commence in
2022 before Phase 2 is fully built out.
The detailed absorption is presented in Appendix D as estimated by the Developer for each Lot
Type.
The aggregate home value in the TIRZ is estimated to be $81.4 million based on the estimated
absorption and projected home values provided by the Developer once Phase 1 is fully built. The
aggregate home value in the District is estimated to be $264.3 million once Phase 2 and 3 are
fully built. Table IV -I below shows the estimated total home values by Phase once each Phase is
fully built.
Table V -I
Estimated Build -out by Current and Future Phases
Assuming the development is completed as planned, the proposed development is projected to
generate an aggregate of $39.7 million in incremental taxes under a 1.89 estimated annual
appreciation through build out over 30 years as shown in Table V -F. 50 percent of such annual
TIRZ incremental revenues generated up to a maximum total amount of $21,048,883 are
committed to be used for the payment of debt service on the PID Bonds used to finance the TIRZ
Projects while the TIRZ is in existence As a result, the proposed plan of financing the project
costs appears feasible.
21
Projected
Taxable
Estimated Build
Values at
Phase
No of Units
out year
Build out
1
207
2019
$81,410,037
2 and 3
447
2026
$182,939,690
Total
654
$264,349,727
Assuming the development is completed as planned, the proposed development is projected to
generate an aggregate of $39.7 million in incremental taxes under a 1.89 estimated annual
appreciation through build out over 30 years as shown in Table V -F. 50 percent of such annual
TIRZ incremental revenues generated up to a maximum total amount of $21,048,883 are
committed to be used for the payment of debt service on the PID Bonds used to finance the TIRZ
Projects while the TIRZ is in existence As a result, the proposed plan of financing the project
costs appears feasible.
21
Draft
VI. Assumptions & Limitations
The valuation of property for real property tax purposes is determined by the CAD. This plan
attempts to estimate how the CAD may estimate the value of the subject properties in the
future. The values estimated by the CAD will almost certainly differ from the estimates
included in this report. Values can change significantly over time, and these changes can be
significantly higher or lower than values in previous years. Determining property values for
tax purposes is not as straight forward or as simple as the analysis in this report. Many
factors not considered in this report may impact actual future values. Furthermore, property
values are not likely to be consistent from year to year.
The CAD often relies on market data to estimate the value of property. Property values can
be appealed, competition can be greater, national or local market conditions can change; in
short, there are many factors that can affect the valuation of property. These factors make
the projection of future values an imprecise exercise. The successful development of the
subject properties is critical to the values estimated in the report.
This report has assumed property taxes are paid as due. This study does not include an
analysis to determine if the owners of property within the TIRZ will be able or willing to
pay property taxes or if the tax collector will be able to collect unpaid taxes. The actual
delinquencies in the payment of real property taxes in the TIRZ will likely be different than
assumed in this report and a significant increase in the failure to pay property taxes would
materially affect the tax increment revenues available for debt service on the bonds.
This report estimates future tax increment revenues based on current real property tax rates.
Scenarios do not assume real property tax rates in the future will be different than tax rates
for tax year 2015. Real property tax rates have varied over the years and have declined over
the years. Real property tax rates will likely vary significantly in future years and be
different than assumed in this report and a significant decrease in real property tax rates could
materially affect the tax increment revenues available for debt on the bonds.
This report includes projections of tax increment revenues based on 1.89 percent annual
appreciation for real property. Changes in values may not be consistent from year to year.
Future values are estimated based on estimated values in 2015. Values in any future year may
be less than the estimated values in 2015.
This report assumes that the subject properties will be developed as projected in this report.
A delay in the development of properties or changes to the program of development would
reduce tax increment revenues during the years of the delay and could result in there being
inadequate tax increment revenues to pay debt service on the bonds. No analysis has been
conducted to determine if the subject properties are likely to be developed as projected.
22
Draft
Numerous sources of information were relied on in the preparation of this report. These
sources are believed to be reliable; however, no effort has been made to verify information
obtained from other sources.
In summary, this report necessarily incorporates numerous estimates and assumptions with
respect to property performance, general and local business and economic conditions, the
absence of material changes in the competitive environment and other matters. Some
estimates or assumptions will inevitably not materialize and unanticipated events and
circumstance will occur. As a result, actual results will vary from the estimates in this report
and the variations may be material.
Other assumptions made in the preparation of this report and limiting conditions to this report
are as follows:
1. There are no zoning, building, safety, environmental or other federal, state, or
local laws, regulations, or codes that would prohibit or impair the development,
marketing or operation of the subject properties in the manner contemplated in
this report, and the subject properties will be developed, marketed and operated in
compliance with all applicable laws, regulations, and codes.
2. No material changes will occur in (a) any federal, state or local law, regulation or
code affecting the subject properties or (b) any federal, state or local grant,
financing or other program to be utilized in connection with the subject
properties.
3. The local, national and international economies will not deteriorate and there will
be no significant changes in interest rates or in rates of inflation or deflation.
4. The subject properties will be served by adequate transportation, utilities and
governmental facilities.
5. The subject properties will not be subjected to any war, energy crises, embargo,
strike, earthquake, flood, fire or other casualty or act of God.
6. The subject properties will be developed, marketed, and operated in a highly
professional manner.
7. There are no existing, impending or threatened litigation that could hinder the
development, marketing, or operation of the subject properties.
8. MuniCap, Inc. does not have expertise in and has no responsibility for legal,
environmental, architectural, geologic, engineering, and other matters related to
the development and operation of the subject properties.
23
Draft
Appendix A
24
4'27"W
387.J1'
,=L==
PELOTON
N 89°52'55"E
LAND SOLUTIONS
10.975 JOHN W.
FLLIOTT DR. STE 4001 FMSCO, TX 150551469-213-1600
465.63'
N89°11'00"E
10'57"W
794.06'
2 32.18'
232.
N89°15'32"E, 742.56'
S90°00'00"E, 1755.97'
N89°56'12" 71184.36'
S01 °06'39" E
R=700.00' 55.96'
=205.39' —�
D=16°48'41"
M.
'D �?
CD=204.65
S 15°42'02"W, 121.60'
R=700.00'
Ld
=205.39'
D=16°48'41"
co
CB=S7°17'41" W
d
CD=204.65
CD
R=699.99'
N23°08'27"W
=116.43'
67.47'
D=9°31'48"
N88°26'26"W
CB=S3°39'15"W
365.15'
CD=116.30
R=700.03'
=101.69'
D=8'1 923"
C)
CB=S4°15'28"W
00
CD=101.60
co
R=700.00'
`-
=530.61'
Ld
D=43°25'52"
CB=S21 °48'40"W
co
CD=518.00
M
M
R=400.00'
S43°31'37"W, 310.13'
o
=25.41'
z
D=00°02'48"
CB=S43°40'02"W
N89°58'14"W 849.21'
CD=25.41
sc v
S00°56'1IT
265.80'
N89°44'50"
587.06'
4'27"W
387.J1'
,=L==
PELOTON
I I
LAND SOLUTIONS
10.975 JOHN W.
FLLIOTT DR. STE 4001 FMSCO, TX 150551469-213-1600
w
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EXHIBIT A - DEPICTION OF PROPERTY
VILLAGES OF
HURRICANE CREEK
l)
75
24
Appendix B
Estimated Improvement Costs
Description
Project Costs
Non-TIRZ Major
Improvement Costs
Other Costs
Total Costs
Road Improvements
$32,289
$0
$0
$32,289
FM 455 road improvements
$907,882
$0
$0
$907,882
Collector A road improvements
$286,387
$0
$0
$286,387
Collector B road improvements
$1,403,833
$181,671
$0
$1,585,504
Collector C road improvements
$2,654,816
$637,073
$0
$3,291,889
Collector D road improvements
$314,586
$115,643
$0
$430,229
Other road improvements
$0
$0
$9,985,907
$9,985,907
Subtotal
$5,567,504
$934,387
$9,985,907
$16,487,798
Water Distribution System Improvements
water improvements along FM 455
$20,897
$0
$0
$20,897
water improvements along Collector A
$32,289
$0
$0
$32,289
water improvements along Collector B
$15,375
$0
$0
$15,375
water improvements along Collector C
$179,982
$0
$0
$179,982
Other water improvements
$0
$0
$2,331,059
$2,331,059
Subtotal
$248,543
$0
$2,331,059
$2,579,602
Sanitary Sewer Collection System Improvements
Throckmorton LS to NTMWD sewer improvements
$1,583,741
$0
$0
$1,583,741
Lift station trunk sewer FM sewer'
$485,875
$0
$0
$485,875
Other sewer improvements
$0
$2,373,497
$2,650,595
$5,024,092
Subtotal
$2,069,616
$2,373,497
$2,650,595
$7,093,708
Storm Drainage Collection System Improvements
$3,645,399
$28,407,244
$39,938,306
($485,663)
Drainage improvements
$0
$0
$1,520,401
$1,520,401
Subtotal
$0
$0
$1,520,401
$1,520,401
Other Costs
Land costs
$0
$0
$8,000,000
$8,000,000
Amenity center
$0
$0
$2,000,000
$2,000,000
Trail system
$0
$0
$600,000
$600,000
Retaining walls
$0
$0
$784,800
$784,800
Miscellaneous costs
$0
$0
$534,482
$534,482
Subtotal
$0
$0
$11,919,282
$11,919,282
Soft Costs
Flood study
SWPPP and final platting fees
Engineering review
Geotechnical testing
Subtotal
Total Estimated Construction Costs
Less: Estimated Developer funded portion
Subtotal
Estimated Bond issuance related costs
Estimated capitalized interest
Estimated debt service reserve
Other estimated bond issuance related costs
Subtotal
$0
$25,000
$0
$25,000
$0
$12,595
$0
$12,595
$0
$5,000
$0
$5,000
$0
$294,920
$0
$294,920
$0
$337,515
$0
$337,515
$7,885,663
$3,645,399
$28,407,244
$39,938,306
($485,663)
$7,400,000
$1,527,353 $852,647 $0 $2,380,000
$872,773 $487,227 $0 $1,360,000
$1,109,537 $619,401 $0 $1,728,938
$3,509,663 $1,959,275
$0 $5,468,938
Total Estimated Costs $10,909,663 $5,604,674 $28,407,244 $45,407,244
Draft
Draft
Appendix C
MuniCap 126
CITY OF ANNA TAX INCREMENT REINVESTMENT ZONE No.
ANNA, TX
Schedule C: Estimated Bond Debt Service - PID Bonds
Total
Draft
Principal and
Prepayment
Delinquency
Total Bond
Year
Principal
Coupon
Interest
Interest
Reserve
Reserve
Debt Service
1
$0
7.000%
$1,190,000
$1,190,000
$34,000
$51,000
$1,275,000
2
$0
7.000%
$1,190,000
$1,190,000
$34,000
$51,000
$1,275,000
3
$194,000
7.000%
$1,190,000
$1,384,000
$34,000
$51,000
$1,469,000
4
$208,000
7.000%
$1,176,420
$1,384,420
$33,612
$50,418
$1,468,450
5
$224,000
7.000%
$1,161,860
$1,385,860
$33,196
$49,794
$1,468,850
6
$241,000
7.000%
$1,146,180
$1,387,180
$32,748
$49,122
$1,469,050
7
$259,000
7.000%
$1,129,310
$1,388,310
$32,266
$48,399
$1,468,975
8
$278,000
7.000%
$1,111,180
$1,389,180
$31,748
$47,622
$1,468,550
9
$299,000
7.000%
$1,091,720
$1,390,720
$31,192
$46,788
$1,468,700
10
$322,000
7.000%
$1,070,790
$1,392,790
$30,594
$45,891
$1,469,275
11
$346,000
7.000%
$1,048,250
$1,394,250
$29,950
$44,925
$1,469,125
12
$372,000
7.000%
$1,024,030
$1,396,030
$0
$73,145
$1,469,175
13
$400,000
7.000%
$997,990
$1,397,990
$0
$71,285
$1,469,275
14
$430,000
7.000%
$969,990
$1,399,990
$0
$69,285
$1,469,275
15
$462,000
7.000%
$939,890
$1,401,890
$0
$67,135
$1,469,025
16
$496,000
7.000%
$907,550
$1,403,550
$0
$64,825
$1,468,375
17
$534,000
7.000%
$872,830
$1,406,830
$0
$62,345
$1,469,175
18
$574,000
7.000%
$835,450
$1,409,450
$0
$59,675
$1,469,125
19
$617,000
7.000%
$795,270
$1,412,270
$0
$56,805
$1,469,075
20
$663,000
7.000%
$752,080
$1,415,080
$0
$53,720
$1,468,800
21
$713,000
7.000%
$705,670
$1,418,670
$0
$50,405
$1,469,075
22
$766,000
7.000%
$655,760
$1,421,760
$0
$46,840
$1,468,600
23
$824,000
7.000%
$602,140
$1,426,140
$0
$43,010
$1,469,150
24
$885,000
7.000%
$544,460
$1,429,460
$0
$38,890
$1,468,350
25
$952,000
7.000%
$482,510
$1,434,510
$0
$34,465
$1,468,975
26
$1,023,000
7.000%
$415,870
$1,438,870
$0
$29,705
$1,468,575
27
$1,100,000
7.000%
$344,260
$1,444,260
$0
$24,590
$1,468,850
28
$1,182,000
7.000%
$267,260
$1,449,260
$0
$19,090
$1,468,350
29
$1,271,000
7.000%
$184,520
$1,455,520
$0
$13,180
$1,468,700
30
$1,365,000
7.000%
$95,550
$1,460,550
$0
$6,825
$1,467,375
Total
$17,000,000
$24,898,790
$41,898,790
$357,306
$1,421,179
$43,677,275
Draft
Breakdown of Estimated Bond Debt Service Payments
City Major Improvements Portion
64.17% 35.83%
Major Improvement Bonds
1- The estimated principal and interest shares of the TIRZ Major Improvements are calculated as 64.17% based on the total TIRZ Project Costs cap of $7.4mm and
and the estimated total costs of $11.531mm for TIRZ and non-TIRZ major improvements. Bond interest is estimated at 7%.
The estimated interest amounts also include 0.5% for prepayment and delinquency reserves.
1 -The estimated principal and interest shares of the Non-TIRZ Major Improvements are calculated as 35.83% based on the total TIRZ Project Costs cap of $7.4mm and
and the estimated total costs of $11.531mm for TIRZ and non-TIRZ major improvements. Bond interest is estimated at 7%.
The estimated interest amounts also include 0.5% for prepayment and delinquency reserves.
Draft
TIRZ Major Improvements
Other Major Improvements
Estimated
Total
TIRZ Admin
Combined
Year
Principal' Interest'
Principah Interest
Expenses
Obligations
1
$0
$818,225
$0
$456,775
$0
$1,275,000
2
$0
$818,225
$0
$456,775
$30,000
$1,305,000
3
$124,499
$818,225
$69,501
$456,775
$30,000
$1,499,000
4
$133,483
$808,887
$74,517
$451,563
$30,000
$1,498,450
5
$143,751
$798,876
$80,249
$445,974
$30,000
$1,498,850
6
$154,661
$788,095
$86,339
$439,955
$30,000
$1,499,050
7
$166,212
$776,495
$92,788
$433,480
$30,000
$1,498,975
8
$178,405
$764,029
$99,595
$426,521
$30,000
$1,498,550
9
$191,882
$750,649
$107,118
$419,051
$30,000
$1,498,700
10
$206,642
$736,258
$115,358
$411,017
$30,000
$1,499,275
11
$222,044
$720,760
$123,956
$402,365
$30,000
$1,499,125
12
$238,729
$704,106
$133,271
$393,069
$30,000
$1,499,175
13
$256,698
$686,202
$143,302
$383,073
$30,000
$1,499,275
14
$275,950
$666,949
$154,050
$372,326
$30,000
$1,499,275
15
$296,486
$646,253
$165,514
$360,772
$30,000
$1,499,025
16
$318,305
$624,017
$177,695
$348,358
$30,000
$1,498,375
17
$342,692
$600,144
$191,308
$335,031
$30,000
$1,499,175
18
$368,362
$574,442
$205,638
$320,683
$30,000
$1,499,125
19
$395,957
$546,815
$221,043
$305,260
$30,000
$1,499,075
20
$425,477
$517,118
$237,523
$288,682
$30,000
$1,498,800
21
$457,564
$485,207
$255,436
$270,868
$30,000
$1,499,075
22
$491,577
$450,890
$274,423
$251,710
$30,000
$1,498,600
23
$528,798
$414,022
$295,202
$231,128
$30,000
$1,499,150
24
$567,944
$374,362
$317,056
$208,988
$30,000
$1,498,350
25
$610,941
$331,766
$341,059
$185,209
$30,000
$1,498,975
26
$656,505
$285,945
$366,495
$159,630
$30,000
$1,498,575
27
$705,919
$236,708
$394,081
$132,142
$30,000
$1,498,850
28
$758,542
$183,764
$423,458
$102,586
$30,000
$1,498,350
29
$815,658
$126,873
$455,342
$70,827
$30,000
$1,498,700
30
$875,982
$65,699
$489,018
$36,676
$30,000
$1,497,375
31
$0
$0
$0
$0
$0
$0
Total
$10,909,663
$17,120,005
$6,090,337
$9,557,270
$870,000
$44,547,275
1- The estimated principal and interest shares of the TIRZ Major Improvements are calculated as 64.17% based on the total TIRZ Project Costs cap of $7.4mm and
and the estimated total costs of $11.531mm for TIRZ and non-TIRZ major improvements. Bond interest is estimated at 7%.
The estimated interest amounts also include 0.5% for prepayment and delinquency reserves.
1 -The estimated principal and interest shares of the Non-TIRZ Major Improvements are calculated as 35.83% based on the total TIRZ Project Costs cap of $7.4mm and
and the estimated total costs of $11.531mm for TIRZ and non-TIRZ major improvements. Bond interest is estimated at 7%.
The estimated interest amounts also include 0.5% for prepayment and delinquency reserves.
Draft
Draft
Appendix D
MuniCap 127
CITY OF ANNA TAX INCREMENT REINVESTMENT ZONE No.
ANNA, TX
Schedule D: Projected Absorption - All Phases
Assessment
Year
Year
TIRZ Fiscal
Year
Ending
1 -Jan -16
1
30 -Sep -17
1 -Jan -17
2
30 -Sep -18
1 -Jan -18
3
30 -Sep -19
1 -Jan -19
4
30 -Sep -20
1 -Jan -20
5
30 -Sep -21
1 -Jan -21
6
30 -Sep -22
1 -Jan -22
7
30 -Sep -23
1 -Jan -23
8
30 -Sep -24
1 -Jan -24
9
30 -Sep -25
1 -Jan -25
10
30 -Sep -26
1 -Jan -26
11
30 -Sep -27
1 -Jan -27
12
30 -Sep -28
1 -Jan -28
13
30 -Sep -29
1 -Jan -29
14
30 -Sep -30
1 -Jan -30
15
30 -Sep -31
1 -Jan -31
16
30 -Sep -32
1 -Jan -32
17
30 -Sep -33
1 -Jan -33
18
30 -Sep -34
1 -Jan -34
19
30 -Sep -35
1 -Jan -35
20
30 -Sep -36
1 -Jan -36
21
30 -Sep -37
1 -Jan -37
22
30 -Sep -38
1 -Jan -38
23
30 -Sep -39
1 -Jan -39
24
30 -Sep -40
1 -Jan -40
25
30 -Sep -41
1 -Jan -41
26
30 -Sep -42
1 -Jan -42
27
30 -Sep -43
1 -Jan -43
28
30 -Sep -44
1 -Jan -44
29
30 -Sep -45
1 -Jan -45
30
30 -Sep -46
1 -Jan -46
31
30 -Sep -47
1 -Jan -47
32
30 -Sep -48
1 -Jan -48
33
30 -Sep -49
Lot Type 1 (100' Lot)
Annual Cumulative
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
25
25
24
49
49
49
49
49
49
49
49
49
49
49
49
49
49
49
49
49
49
49
49
49
49
49
Lot Type 2 (90' Lot)
Annual
Cumulative
0
0
0
0
1
1
4
5
4
9
4
13
4
17
2
19
11
30
25
55
55
55
55
55
55
55
55
55
55
55
55
55
55
55
55
55
55
55
55
55
55
55
55
Lot Type 3 (80' Lot)
Annual Cumulative
0
0
0
0
22
22
44
66
37
103
24
127
13
140
24
164
21
185
64
185
29
185
185
185
185
185
185
185
185
185
185
185
185
185
185
185
185
185
185
185
185
185
185
185
Lot Type 4 (70' Lot)
Annual
Cumulative
0
0
0
0
24
24
48
72
13
85
64
149
64
213
59
272
64
336
29
365
365
365
365
365
365
365
365
365
365
365
365
365
365
365
365
365
365
365
365
365
365
365
365
Annual
0
0
47
96
54
92
81
85
96
79
24
0
0
0
0
Total
Cumulative
0
0
47
143
197
289
370
455
551
630
654
654
654
654
654
654
654
654
654
654
654
654
654
654
654
654
654
654
654
654
654
654
654
Total 49 365 654
Note: The projected absorption schedule is provided by the developer.
MuniCap, Inc.
Draft Draft
Draft
Appendix E
MuniCap 128
CITY OF ANNA TAX INCREMENT REINVESTMENT ZONE No. _
ANNA, TX
Schedule E: Projected Assessed Value - All Phases
MuniCap, Inc.
I The estimated annual growth rate is calculated as the ten-year average annual growth rate of average home values in the city.
2 Estimated value per unit based on information provided by the developer.
3 The projections assume that the assessed value is approximately 94 percent of the estimated sales price as reported by the developer with 1.89% annual inflation factor. The 6% reduction is based on the ten-year average total exemption to taxable value ratios.
Draft Draft
Total
TIRZ Fiscal
1.89%
Lot Type 1 (100' Lot)
Lot Type 2 (90' Lot)
Lot Type 3 (80' Lot)
Lot Type 4 (70' Lot)
Estimated
Estimated
Estimated
Assessment
Year
Inflation
Value Per
Market
Value Per
Market
Value Per
Market
Value Per
Market
Market
Assessment
Assessed
Year
Year
Ending
Factor'
Units
Unit`
Value
Units
Unit`
Value
Units
Unit'
Value
Units
Unit
Value
Value
Rate'
Value
1 -Jan -16
I
30 -Sep -17
100.0%
0
$475,000
$0
0
$427,500
$0
0
$380,000
$0
0
$332,500
$0
$0
94%
$0
I -Jan -17
2
30 -Sep -18
100.0%
0
$475,000
$0
0
$427,500
$0
0
$380,000
$0
0
$332,500
$0
$0
94%
$0
1 -Jan -18
3
30 -Sep -19
100.0%
0
$483,994
$0
1
$435,595
$435,595
22
$387,196
$8,518,303
24
$338,796
$8,131,107
$17,085,005
94%
$15,998358
IJan- 19
4
30 -Sep -20
101.9%
0
$493,159
$0
5
$443,843
$2,219;217
66
$394,527
$26,038,810
72
$345,212
$24,855,228
$53,113,255
94%
$49,735,126
1 -Ian -20
5
30 -Sep -21
103.8%
0
$502,498
$0
9
$452,248
$4,070,231
103
$401,998
$41,405,805
85
$351,748
$29,898,609
$75,374,645
94%
$70,580,639
I -Jan -21
6
30 -Sep -22
105.8%
0
$512,013
$0
13
$460,812
$5,990,550
127
$409,610
$52,020,502
149
$358,409
$53,402,936
$111,413,987
94%
$104,327,793
1 -Jan -22
7
30 -Sep -23
107.8%
0
$521,708
$0
17
$469,537
$7,982,135
140
$417,367
$58,431,314
213
$365,196
$77,786,687
$144,200,136
94%
$135,028,664
1 -Jan -23
8
30 -Sep -24
109.8%
0
$531,587
$0
19
$478,428
$9,090,139
164
$425,270
$69,744,228
272
$372,111
$101,214,184
$180,048,552
94%
$168,597,035
1 -Jan -24
9
30 -Sep -25
111.9%
0
$541,653
$0
30
$487,488
$14,624,634
185
$433,322
$80,164,660
336
$379,157
$127,396,811
$222,186,105
94%
$208,054,540
I -Jan -25
10
30 -Sep -26
114.0%
25
$551,910
$13,797,743
55
$496,719
$27,319,531
185
$441,528
$81,682,639
365
$386,337
$141,012,934
$263,812,847
94%
$247,033,722
1 -Jan -26
11
30 -Sep -27
116.2%
49
$562,361
$27,555,667
55
$506,124
$27,836,847
185
$449,888
$83,229,362
365
$393,652
$143,683,121
$282,304,997
94%
$264,349,727
I -Jan -27
12
30 -Sep -28
118.4%
49
$562,361
$27,555,667
55
$506,124
$27,836,847
185
$449,888
$83,229,362
365
$393,652
$143,683,121
$282,304,997
94%
$264,349,727
1 -Jan -28
13
30 -Sep -29
118.4%
49
$562,361
$27,555,667
55
$506,124
$27,836,847
185
$449,888
$83,229,362
365
$393,652
$143,683,121
$282,304,997
94%
$264,349,727
1 -Jan -29
14
30 -Sep -30
118.4%
49
$562,361
$27,555,667
55
$506,124
$27,836,847
185
$449,888
$83,229,362
365
$393,652
$143,683,121
$282,304,997
94%
$264,349,727
1 -Jan -30
15
30 -Sep -31
118.4%
49
$562,361
$27,555,667
55
$506,124
$27,836,847
185
$449,888
$83,229,362
365
$393,652
$143,683,121
$282,304,997
94%
$264,349,727
1 -Jan -31
16
30 -Sep -32
118.4%
49
$562,361
$27,555,667
55
$506,124
$27,836,847
185
$449,888
$83,229,362
365
$393,652
$143,683,121
$282,304,997
94%
$264,349,727
1 -Jan -32
17
30 -Sep -33
118.4%
49
$562,361
$27,555,667
55
$506,124
$27,836,847
185
$449,888
$83,229,362
365
$393,652
$143,683,121
$282,304,997
94%
$264,349,727
I -Jan -33
18
30 -Sep -34
118.4%
49
$562,361
$27,555,667
55
$506,124
$27,836,847
185
$449,888
$83,229,362
365
$393,652
$143,683,121
$282,304,997
94%
$264,349,727
1 -Jan -34
19
30 -Sep -35
118.4%
49
$562,361
$27,555,667
55
$506,124
$27,836,847
185
$449,888
$83,229,362
365
$393,652
$143,683,121
$282,304,997
94%
$264,349,727
I -Jan -35
20
30 -Sep -36
118.4%
49
$562,361
$27,555,667
55
$506,124
$27,836,847
185
$449,888
$83,229,362
365
$393,652
$143,683,121
$282,304,997
94%
$264,349,727
1 -Jan -36
21
30 -Sep -37
118,4%
49
$562,361
$27,555,667
55
$506,124
$27,836,847
185
$449,888
$83,229,362
365
$393,652
$143,683,121
$282,304,997
94%
$264,349,727
I -Jan -37
22
30 -Sep -38
118.4%
49
$562,361
$27,555,667
55
$506,124
$27,836,847
185
$449,888
$83,229,362
365
$393,652
$143,683,121
$282,304,997
94%
$264,349,727
1 -Jan -38
23
30 -Sep -39
118.4%
49
$562,361
$27,555,667
55
$506,124
$27,836,847
185
$449,888
$83,229,362
365
$393,652
$143,683,121
$282,304,997
94%
$264,349,727
1 -Jan -39
24
30 -Sep -40
118.4%
49
$562,361
$27,555,667
55
$506,124
$27,836,847
185
$449,888
$83,229,362
365
$393,652
$143,683,121
$282,304,997
94%
$264,349,727
1 -Jan -40
25
30 -Sep -41
118.4%
49
$562,361
$27,555,667
55
$506,124
$27,836,847
185
$449,888
$83,229,362
365
$393,652
$143,683,121
$282,304,997
94%
$264,349,727
1 -Jan -41
26
30 -Sep -42
118.4%
49
$562,361
$27,555,667
55
$506,124
$27,836,847
185
$449,888
$83,229,362
365
$393,652
$143,683,121
$282,304,997
94%
$264,349,727
1 -Jan -42
27
30 -Sep -43
118.4%
49
$562,361
$27,555,667
55
$506,124
$27,836,847
185
$449,888
$83,229,362
365
$393,652
$143,683,121
$282,304,997
94%
$264,349,727
I -Jan -43
28
30 -Sep -44
118.4%
49
$562,361
$27,555,667
55
$506,124
$27,836,847
185
$449,888
$83,229,362
365
$393,652.
$143,683,121
$282,304,997
94%
$264,349,727
1 -Jan -44
29
30 -Sep -45
118.4%
49
$562,361
$27,555,667
55
$506,124
$27,836,847
185
$449,888
$83,229,362
365
$393,652
$143,683,121
$282,304,997
94%
$264,349,727
1 -Jan -45
30
30 -Sep -46
118.4%
49
$562,361
$27,555,667
55
$506,124
$27,836,847
185
$449,888
$83,229,362
365
$393,652
$143,683,121
$282,304,997
94%
$264,349,727
MuniCap, Inc.
I The estimated annual growth rate is calculated as the ten-year average annual growth rate of average home values in the city.
2 Estimated value per unit based on information provided by the developer.
3 The projections assume that the assessed value is approximately 94 percent of the estimated sales price as reported by the developer with 1.89% annual inflation factor. The 6% reduction is based on the ten-year average total exemption to taxable value ratios.
Draft Draft
Draft
Appendix F
MuniCap 129
CITY OF ANNA TAX INCREMENT REINVESTMENT ZONE No. _
ANNA, TX
Schedule F: Projected Incremental Real Property Tax - All Phases
$40,169,779 $39,730,436 $19,865,218 $27,263,218 $8,234,752
t The estimated annual growth rate is calculated as a 10 average annual growth rate of average home values in the city.
2 The projections assume that 50 percent of the incremental real property tax will be made availabel for the partial payment of debt service on the PID Bonds.
' The maximum amount of TIRZ related obligations is set not to exceed $21,048,883 per the Subdivision Improvement Agreement.
M-iCap. /»c.
Draft Draft
Estimated
TIRZ Fiscal
1.89%
Estimated
Base
Anna
Estimated
Base
Estimated
Incremental Real
Estimated
Estimated
Assessment
Year
Inflation
Assessed
Year
Tax
Real Propert
Year
Incremental Real
TIRZ
Property Tax
TIRZ related
Developer Funded
Year
Year
Ending
Factor'
Value
Value
Rate
Tax
Tax
Property Tax
Percentage2
Available
Obligation93
Obligations Amount
1 -Jan -16
1
30 -Sep -17
100.0%
$0
($2,455,530)
$0.6390
$0
($15,691)
$0
50%
$0
$0
$0
1 -Jan -17
2
30 -Sep -18
100.0%
$0
($2,455,530)
$0.6390
$0
($15,691)
$0
50%
$0
$30,000
$30,000
1 -Jan -18
3
30 -Sep -19
101.9%
$15,998,358
($2,455,530)
$0.6390
$102,230
($15,691)
$86,539
50%
$43,269
$972,723
$972,723
1 -Jan -19
4
30 -Sep -20
103.8%
$49,735,126
($2,455,530)
$0.6390
$317,807
($15,691)
$302,117
50%
$151,058
$972,370
$929,101
1 -Jan -20
5
30 -Sep -21
105.8%
$70,580,639
($2,455,530)
$0.6390
$451,010
($15,691)
$435,319
50%
$217,660
$972,627
$821,569
1 -Jan -21
6
30 -Sep -22
107.8%
$104,327,793
($2,455,530)
$0.6390
$666,655
($15,691)
$650,964
50%
$325,482
$972,755
$755,096
1 -Jan -22
7
30 -Sep -23
109.8%
$135,028,664
($2,455,530)
$0.6390
$862,833
($15,691)
$847,142
50%
$423,571
$972,707
$647,225
1 -Jan -23
8
30 -Sep -24
111.9%
$168,597,035
($2,455,530)
$0.6390
$1,077,335
($15,691)
$1,061,644
50%
$530,822
$972,434
$548,863
1 -Jan -24
9
30 -Sep -25
114.0%
$208,054,540
($2,455,530)
$0.6390
$1,329,469
($15,691)
$1,313,778
50%
$656,889
$972,531
$441,709
1 -Jan -25
10
30 -Sep -26
116.2%
$247,033,722
($2,455,530)
$0.6390
$1,578,545
($15,691)
$1,562,855
50%
$781,427
$972,900
$316,011
1 -Jan -26
11
30 -Sep -27
118.4%
$264,349,727
($2,455,530)
$0.6390
$1,689,195
($15,691)
$1,673,504
50%
$836,752
$972,803
$191,376
1 -Jan -27
12
30 -Sep -28
118.4%
$264,349,727
($2,455,530)
$0.6390
$1,689,195
($15,691)
$1,673,504
50%
$836,752
$972,836
$136,084
1 -Jan -28
13
30 -Sep -29
118.4%
$264,349,727
($2,455,530)
$0.6390
$1,689,195
($15,691)
$1,673,504
50%
$836,752
$972,900
$136,148
1 -Jan -29
14
30 -Sep -30
118.4%
$264,349,727
($2,455,530)
$0.6390
$1,689,195
($15,691)
$1,673,504
50%
$836,752
$972,900
$136,148
1 -Jan -30
15
30 -Sep -31
118.4%
$264,349,727
($2,455,530)
$0.6390
$1,689,195
($15,691)
$1,673,504
50%
$836,752
$972,739
$135,987
1 -Jan -31
16
30 -Sep -32
118.4%
$264,349,727
($2,455,530)
$0.6390
$1,689,195
($15,691)
$1,673,504
50%
$836,752
$972,322
$135,570
1 -Jan -32
17
30 -Sep -33
118.4%
$264,349,727
($2,455,530)
$0.6390
$1,689,195
($15,691)
$1,673,504
50%
$836,752
$972,836
$136,084
1 -Jan -33
18
30 -Sep -34
118.4%
$264,349,727
($2,455,530)
$0.6390
$1,689,195
($15,691)
$1,673,504
50%
$836,752
$972,803
$136,051
1 -Jan -34
19
30 -Sep -35
118.4%
$264,349,727
($2,455,530)
$0.6390
$1,689,195
($15,691)
$1,673,504
50%
$836,752
$972,771
$136,019
1 -Jan -35
20
30 -Sep -36
118.4%
$264,349,727
($2,455,530)
$0.6390
$1,689,195
($15,691)
$1,673,504
50%
$836,752
$972,595
$135,843
1 -Jan -36
21
30 -Sep -37
118.4%
$264,349,727
($2,455,530)
$0.6390
$1,689,195
($15,691)
$1,673,504
50%
$836,752
$972,771
$136,019
1 -Jan -37
22
30 -Sep -38
118.4%
$264,349,727
($2,455,530)
$0.6390
$1,689,195
($15,691)
$1,673,504
50%
$836,752
$972,467
$135,715
1 -Jan -38
23
30 -Sep -39
118.4%
$264,349,727
($2,455,530)
$0.6390
$1,689,195
($15,691)
$1,673,504
50%
$836,752
$972,819
$136,068
1 -Jan -39
24
30 -Sep -40
118.4%
$264,349,727
($2,455,530)
$0.6390
$1,689,195
($15,691)
$1,673,504
50%
$836,752
$972,306
$135,554
1 -Jan -40
25
30 -Sep -41
118.4%
$264,349,727
($2,455,530)
$0.6390
$1,689,195
($15,691)
$1,673,504
50%
$836,752
$972,707
$135,955
1 -Jan -41
26
30 -Sep -42
118.4%
$264,349,727
($2,455,530)
$0.6390
$1,689,195
($15,691)
$1,673,504
50%
$836,752
$972,450
$135,699
1 -Jan -42
27
30 -Sep -43
118.4%
$264,349,727
($2,455,530)
$0.6390
$1,689,195
($15,691)
$1,673,504
50%
$836,752
$972,627
$135,875
1 -Jan -43
28
30 -Sep -44
118.4%
$264,349,727
($2,455,530)
$0.6390
$1,689,195
($15,691)
$1,673,504
50%
$836,752
$972,306
$135,554
1 -Jan -44
29
30 -Sep -45
118.4%
$264,349,727
($2,455,530)
$0.6390
$1,689,195
($15,691)
$1,673,504
50%
$836,752
$972,531
$135,779
1 -Jan -45
30
30 -Sep -46
118.4%
$264,349,727
($2,455,530)
$0.6390
$1,689,195
($15,691)
$1,673,504
50%
$836,752
$971,680
$134,928
$40,169,779 $39,730,436 $19,865,218 $27,263,218 $8,234,752
t The estimated annual growth rate is calculated as a 10 average annual growth rate of average home values in the city.
2 The projections assume that 50 percent of the incremental real property tax will be made availabel for the partial payment of debt service on the PID Bonds.
' The maximum amount of TIRZ related obligations is set not to exceed $21,048,883 per the Subdivision Improvement Agreement.
M-iCap. /»c.
Draft Draft
Draft
Appendix G
iMuniCap 1.30
CITY OF ANNA, TEXAS
(Property rezoned under this ordinance is generally located on the north side
of FM 455 and west of U.S. 75)
ORDINANCE NO.
AN ORDINANCE OF THE CITY OF ANNA, TEXAS AMENDING THE CITY'S
COMPREHENSIVE PLAN, ZONING MAP, AND ZONING ORDINANCE AND
CHANGING THE ZONING OF CERTAIN PROPERTY AS DESCRIBED HEREIN;
PROVIDING FOR SAVINGS, REPEALING AND SEVERABILITY CLAUSES;
PROVIDING FOR AN EFFECTIVE DATE; PROVIDING FOR A PENALTY CLAUSE
NOT TO EXCEED $2,000 OR THE HIGHEST PENALTY AMOUNT ALLOWED BY
LAW, WHICHEVER IS LESS; AND, PROVIDING FOR THE PUBLICATION OF THE
CAPTION HEREOF.
WHEREAS, the City of Anna, Texas ("City") has previously adopted ordinances, rules and
regulations governing the zoning in the City; and
WHEREAS, the City has received a requested zoning change on Property described in Exhibit
A and Exhibit B ("Property") attached hereto and incorporated herein for all purposes as if set
forth in full; and
WHEREAS, said Property generally located on the north side of FM 455 and west of U.S. 75
being rezoned from "PD - Single Family Residential" zoning district to "PD- Single Family
Residential (PD) zoning; and
WHEREAS, the Planning and Zoning Commission of the City and the City Council of the City
of Anna ("City Council") have given the requisite notices by publication and otherwise and have
held the public hearings as required by law and afforded a full and fair hearing to all property
owners and generally to all persons interested in and situated in the affected area and in the
vicinity thereof, the City Council has concluded that the Zoning Ordinance of the City should be
amended as set forth below.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
ANNA, TEXAS THAT:
Section 1. Recitals Incorporated
The above recitals are incorporated herein by reference for all purposes.
Section 2. Zoning Change
The Comprehensive Plan of the City and City of Anna Ordinance No. 116-2003 as amended and
codified as Part III -C of The Anna City Code of Ordinances are hereby amended by changing the
zoning of the Property described in Exhibit A from PD - Single Family Residential to PD —
Single Family Residential zoning.
PURPOSE AND INTENT
A. Purpose and Intent: This zoning submittal addresses the disposition of approximately
368 total acres of land within the City of Anna more fully described on the legal
description attached as Exhibit A (the "Property") and depicted on Exhibit B. The uses
proposed for the Property follow the intent of the City of Anna Comprehensive Plan
dated March 2010. It is the intent of the Planned Development (PD) to offer greater
flexibility for residential development. The purpose of the district is to create a master
planned community featuring a mixture of housing types in a manner that will
encourage sustainable neighborhoods and attract investment to the area.
The purpose of this district is:
a. To provide development and land use flexibility within the framework of
a Planned Development zoning district.
2. The intent of this district is:
a. To design streets and buildings which will contribute to creating safe
neighborhoods.
b. To provide an attractive environment for pedestrians which includes
such things as buildings framing public space, street trees, lighting and
canopies that will attract pedestrians.
C. To contribute to the definition and use of public parks, ball fields and
walking trails.
d. Integrated parks and open space to preserve areas designated within
the 100 -year floodplain. This will protect existing stream corridors and
other physical assets as amenities.
The Villages of Hurricane Creek PD is intended to provide the community with a
mixture of housing types in a pattern and amount that will encourage
sustainable neighborhoods and development.
4. The Villages of Hurricane Creek Concept Plan delineates the boundaries of the
respective neighborhood areas (Exhibit B). The Development Standards shall
apply to the entire Villages of Hurricane Creek District unless indicated
otherwise. Housing mix, street types, building types and frontage standards for
any particular area shall be controlled by the neighborhood areas delineated on
the plan.
B. Applicability: This Ordinance shall apply to all development within the PD boundaries.
Unless otherwise stated herein, all ordinances of the City shall apply to The Villages of
Hurricane Creek.
II. DEFINITIONS
Accessory Building or Use: (a) is subordinate to and serves a principal Building or principal Use;
(b) is subordinate in area, extent, or purpose to the principal Building or principal Use served
and is not physically connected to the principal Building; (c) contributes to the comfort,
convenience and necessity of occupants of the principal Building or principal Use served; and (d)
2
is located on the same Building Lot as the principal Use served. If connected to the principal
Building, a structure becomes part of the principal Building.
Block: Property abutting on one side of the Street and lying between the nearest intersecting or
intercepting Streets or nearest intercepting Street and railroad right-of-way, waterway, or other
barrier to or gap in the continuity of development along such Street.
Building: Any structure built for the support, shelter, or enclosure of persons, chattels, or
movable property of any kind. When such structure is divided into separate parts by one or
more unpierced walls extending from the ground up, each part is deemed a separate Building,
except as regards minimum side yards.
Building Line: A line parallel or approximately parallel to the Street line at a specific distance
there from marking the minimum distance from the Street line that a Building may be erected.
Court: An open, unoccupied space on the same Lot with a Building and bounded on two sides
by such Building, or the Open Space provided for access to a dwelling group.
District: A portion of the territory of the city within which certain uniform regulations and
requirements or various combinations thereof apply under the provisions of this Part of the
Code. The term "residential District" means any SF -E, SF -1, SF -84, SF -72, SF -60, SF -2, SF -Z, SF-
TH, MH, or MF District; the term "commercial District" means any C-1, NC, C-2, C-3 or 0-1
District.
Dwelling Unit: A room or a group of rooms including cooking accommodations, occupied by one
Family, and in which not more than two persons, other than members of the Family, are lodged
or boarded for compensation at any one time.
Dwelling Unit, Single -Family: Detached means located on a Lot or separate Building tract and
having no physical connection to a Building on any other Lot.
Flood Plain: The land adjoining the channel of a river, stream, or watercourse that has been or
may be covered by floodwater. Any land covered by the water of a 100 year frequency storm is
considered in the Flood Plain and must comply with the engineering criteria found in the
subdivision regulations and other relevant regulations of the City.
Frontage: All the property abutting on one side of a Street between intersecting or intercepting
Streets, or between a Street and a right-of-way, waterway, end of a dead-end Street, or village
boundary measured along the Street line. An intercepting Street shall determine only the
boundary of the Frontage on the side of the Street which it shall determine only the boundary of
the Frontage on the side of the Street which it intercepts. Where a Lot abuts more than one
Street, the planning and zoning commission shall determine the Frontage for purposes of the
Part of the Code.
Land Use Plan: The long-range plan for the desirable use of land in the City of Anna as officially
adopted and as amended from time to time by the City Council, the purpose of such plan being,
among other things, to serve as a guide in the zoning and progressive changes in the zoning of
land to meet the changing needs, in the subdivision and Use of undeveloped land, and in the
acquisition of rights-of-way or sites for public purposes such as Streets, parks, schools and public
Buildings.
Lot: The entire parcel of land occupied or to be occupied by a main Building and its Accessory
Buildings, or by a group such as a dwelling group or automobile Court and their Accessory
Buildings, including the yards and Open Spaces required therefore by this title and other
applicable law.
Lot, Corner: A Lot abutting on two intercepting or intersecting Streets where the interior angle
of intersection or interception does not exceed 135°.
Lot Coverage: The percentage of the total area of a Lot occupied by the base (first Story or
floor) of Buildings located on the Lot.
Lot, Interior: A Lot other than a corner Lot.
Lot, Lines: The property lines bounding the Lot as defined herein.
Lot, Through: A Lot having its front and rear on different Streets, or having its front or rear line
on a Street and the other line on a river, lake, creek or other permanent body of water.
Lot Depth: The average depth from the front line of the Lot to the rear line of the Lot.
Lot Width: The width measured at a distance back from the front line equal to the minimum
depth required for a Front Yard.
Lot of Record: A Lot, which is part of a subdivision, the plat of which has been recorded in the
office of the County Clerk of Collin County, or a parcel of land, the deed for which was recorded
in the Office of the County Clerk, Collin County, prior to January 1, 1986.
Main Building: A Building in which is conducted principal Use of the Lot on which it is situated.
Open Space: That part of any Lot or tract that is used for recreational purposes, both passive
and active, but not including areas used for parking or maneuvering of automobiles, or drives or
approaches to and from parking areas, Floodplains, or 100% of any standing surface water, may
be considered as Open Space, provided such Open Space is contiguous and part of the platted
Lot and is maintained and utilized in the same manner and to the same degree as all other Open
Space areas as is designated on the site plan as filed with the building permit application.
Planned Development: Land under unified control, including developed as a whole; in a single
development operation or a definitely programmed series of development operations, including
all lands and Buildings; for principal and accessory structures and uses substantially related to
the character of the District; according to comprehensive and detailed plans which include not
only Streets, utilities, and Lots or Buildings sites, but also site plans, floor plans, and elevations
of all Buildings as intended be located, constructed, used and related to each other, and detailed
plans for other uses and improvements on the land as related to the Buildings; and with a
program for provision, operation and maintenance of such areas, improvements, facilities, and
11
services as will be for common Use by some or all of the occupants of the District, but will not be
provided, operated, or maintained at general public expense.
Planned Development is both a concept and a zoning classification which may include, in
addition to planned unit development, commercial, shopping center, and industrial uses or
combination thereof, which may be intended to serve areas within the District and areas
without the District.
Rear Yard: The required Rear Yard is an Open Space unoccupied and unobstructed except for
Accessory Uses extending across the rear of a Lot from one side Lot line to the other side Lot
line, the depth of which is dependent upon the zoning District in which the Lot is located.
Screening Element (Device): A barrier of permanent material of sufficient heights and density so
that the objects being screened are not visible from any point on the Lot line when viewed from
any height between ground level and seven feet above ground level and shall mean any of the
following:
(a) Any solid material constructed of brick, Masonry, or of a concrete or metal frame, or
wood or base which supports a permanent type material, the vertical surface of
which is not more than 30% open;
(b) Any dense evergreen hedge or plant material suitable for providing a visual barrier,
for which such material shall be maintained in a healthy growing condition; or
(c) Landscaped earth berms may, when appropriate in scale, be considered and used as
a Screening Element in lieu of a fence, wall, hedge, or other dense planting material.
Street: A public or private thoroughfare which affords the principal means of access to abutting
property.
The Villages of Hurricane Creek Concept Plan (Exhibit B): The graphic plan for The Villages of
Hurricane Creek that establishes and delineates the respective PD sub -districts such as the
Village Center and other Neighborhoods.
Thoroughfare: An officially designated federal or state numbered highway or county or other
road or Street designated as a primary thoroughfare on the official Thoroughfare Plan of the City
of Anna.
Thoroughfare Plan: The official Thoroughfare Plan of the City of Anna adopted by the City
Council establishing the location and official right-of-way width of principal highways and
Streets in the city, together with all amendments thereto subsequently adopted.
Use: The purpose for which land or a Building or structure thereon is designed, arranged
intended or maintained or for which it is or may be used or occupied. This definition does not
alter or affect the definition of Nonconforming Use as set forth in Section 39.01 of the Part.
(Ord. No. 457-2009, adopted 08/25/09)
Use, Accessory: A subordinate Use on the same Lot with the principal Use and incidental and
accessory thereto.
Yard: An Open Space, other than a Court, on the same Lot with a Building.
W1
Yard, Front: A yard extending across the full width of a Lot and having a depth equal to the
shortest distance between the front line of the Lot and the nearest portion of the main Buildings
including an enclosed or covered porch, provided that the Front Yard depth shall be measured
from the future Street line for a Street on which a Lot fronts, when such line is shown on the
official map or is otherwise established.
Yard, Rear: A yard extending across the full width of a Lot and having a depth equal to the
shortest distance between the rear line of the Lot and the main Building.
Yard, Side: A yard between the side line of the Lot and the main Building extending from the
Front Yard to the Rear Yard and leaving a width equal to the shortest distance between said side
line and the main Building.
Zoning Map: The official Zoning Map of the City of Anna together with all amendments
subsequently adopted.
*Rules for Words and Phrases: For the purposes of the City of Anna Zoning Ordinance, words
used in the present tense include the future tense; words in the singular number include the
plural number, and words in the plural number include the singular number; the word "shall" is
mandatory, not directory; the word "may" is permissive; the word "person" includes a firm,
association, organization, partnership, trust, foundation, company, or corporation as well as an
individual; the word "used" includes designed and intended or arranged to be used; the word
"Building" includes the word "structure"; the word "Lot" includes "Building Lot" or parcel.
Wherever the City of Anna Zoning Ordinance imposes a greater restriction than imposed by
other ordinances, laws, or regulations, the provisions of the City of Anna Zoning Ordinance shall
govern.
III. LOT TYPE REGULATIONS
The Villages of Hurricane Creek will include a specific lot type in order to achieve the goals
established for the district. The lot type and requirement shall be as follows:
A. Lot Type SF -84 (70' x 120'):
1. Purpose: The SF -84 Single Family Residential District is designed to
accommodate Single Family Residential development on relatively ample Lots.
The District can be appropriately located in proximity to agricultural and Single
Family Residential Uses.
2. Permitted Uses: A Building or premise in a SF -84 District shall be used only for
the purposes as listed in Appendix 2 of the City of Anna Zoning Ordinance. The
Permitted Uses are as follows:
a. Single family dwelling, detached;
b. Community center (public and private);
0
c. Park, playground, or recreational center (public and private);
d. School, public (primary and/or secondary); and
e. Swimming pool (private)
3. Specific Use Permit: The following specific uses shall be permitted in a SF -84
District, when granted in accordance with Section 37 of the City of Anna Zoning
Ordinance:
a. Public, parochial, and private schools and colleges offering courses of
general instruction and including convents, monasteries, dormitories,
and other related living structures when located on the same site as the
school or college.
b. Churches, synagogues, chapels, and similar places of religions worship
and instruction of a quiet nature when located in a substantial
structure.
c. Utility substations necessary to the functioning of the utility, but not
including general business offices, maintenance facilities and other
general system facilities, when located according to the yard space rules
set forth in this part for dwellings and have a landscaped or masonry
barrier on all sides. Building shall conform to all space limits of this zone
and shall be of such exterior designs to harmonize with nearby
properties.
d. Public and quasi -public buildings for cultural use.
e. Country clubs as defined herein.
f. Uses as listed in Appendix 2 of the City of Anna Zoning Ordinance.
4. Plan Requirements: Except as otherwise specifically authorized in the City of
Anna Subdivision Regulations, no building permit or Floodplain Development
Permit shall be issued by the City for any parcel of land until a Final Plat — or
Development Plat, as applicable —of the land has been recorded.
5. Height Regulations: No building shall exceed thirty-five feet (35').
6. Area Regulations: The following minimum standards shall be required as
measured from property lines:
Lot Size: 8,400 square feet
7
B.
Lot Coverage: The combined area covered by all main
buildings and accessory structures shall not
exceed fifty percent (50%) of the total lot area.
Building Size: The minimum square footage of a dwelling unit,
shall be two thousand (2,000) sf.
Front Yard: 20 feet minimum
Rear Yard: 15 feet minimum (the required Rear Yard shall
be open and unobstructed to the sky from a
point 30 inches above the average elevation of
the Graded Rear Yard, except for Accessory
Buildings as permitted herein. Eaves, covered
porches, and roof extensions without structural
support in the Rear Yard may extend into the
rear yard a distance not to exceed four feet.
Balconies shall not project into the required
Rear Yard.)
Side Yard, Interior: 5 feet minimum
Side Yard, Corner Lot,
Street Side: 15 feet minimum (45 feet where adjacent to
single Family or duplex residential District)
Lot Width: 70 feet minimum; (measured at the front
building line)
Lot Depth: 120 feet minimum
Masonry (Brick or rock veneer): 80%
7. Parking Regulations: Two enclosed spaces behind the Front Yard line for single-
family Dwelling Units and HUD Code manufactured homes. Other off -Street
parking regulations are set forth in Section 38 of the City of Anna Zoning
Ordinance.
8. Signs: Signs in this District shall comply with the requirements of the City of
Anna Sign Ordinance (as amended).
Lot Type SF -84 (80'x 120'):
1. Purpose: The SF -84 Single Family Residential District is designed to
accommodate Single Family Residential development on relatively ample Lots.
The District can be appropriately located in proximity to agricultural and Single
Family Residential Uses.
2. Permitted Uses: A Building or premise in a SF -84 District shall be used only for
the purposes as listed in Appendix 2 of the City of Anna Zoning Ordinance. The
Permitted Uses are as follows:
a. Single family dwelling, detached;
b. Community center (public and private);
c. Park, playground, or recreational center (public and private);
d. School, public (primary and/or secondary); and
e. Swimming pool (private)
3. Specific Use Permit: The following specific uses shall be permitted in a SF -84
District, when granted in accordance with Section 37 of the City of Anna Zoning
Ordinance:
a. Public, parochial, and private schools and colleges offering courses of
general instruction and including convents, monasteries, dormitories,
and other related living structures when located on the same site as the
school or college.
b. Churches, synagogues, chapels, and similar places of religions worship
and instruction of a quiet nature when located in a substantial
structure.
c. Utility substations necessary to the functioning of the utility, but not
including general business offices, maintenance facilities and other
general system facilities, when located according to the yard space rules
set forth in this part for dwellings and have a landscaped or masonry
barrier on all sides. Building shall conform to all space limits of this zone
and shall be of such exterior designs to harmonize with nearby
properties.
d. Public and quasi -public buildings for cultural use.
e. Country clubs as defined herein.
f. Uses as listed in Appendix 2 of the City of Anna Zoning Ordinance.
4. Plan Requirements: Except as otherwise specifically authorized in the City of
Anna Subdivision Regulations, no building permit or Floodplain Development
Permit shall be issued by the City for any parcel of land until a Final Plat — or
Development Plat, as applicable —of the land has been recorded.
5. Height Regulations: No building shall exceed thirty-five feet (35').
E
6. Area Regulations: The following minimum standards shall be required as
measured from property lines:
Lot Size: 9,600 square feet
Lot Coverage: The combined area covered by all main
buildings and accessory structures shall not
exceed fifty percent (50%) of the total lot area.
Building Size: The minimum square footage of a dwelling unit,
shall be two thousand (2,000) sf.
Front Yard: 20 feet minimum
Rear Yard: 15 feet minimum (the required Rear Yard shall
be open and unobstructed to the sky from a
point 30 inches above the average elevation of
the Graded Rear Yard, except for Accessory
Buildings as permitted herein. Eaves, covered
porches, and roof extensions without structural
support in the Rear Yard may extend into the
rear yard a distance not to exceed four feet.
Balconies shall not project into the required
Rear Yard.)
Side Yard, Interior: 5 feet minimum
Side Yard, Corner Lot,
Street Side: 15 feet minimum (45 feet where adjacent to
single Family or duplex residential District)
Lot Width: 80 feet minimum; (measured at the front
building line)
Lot Depth: 120 feet minimum
Masonry (Brick or rock veneer): 80%
7. Parking Regulations: Two enclosed spaces behind the Front Yard line for single-
family Dwelling Units and HUD Code manufactured homes. Other off -Street
parking regulations are set forth in Section 38 of the City of Anna Zoning
Ordinance.
8. Signs: Signs in this District shall comply with the requirements of the City of
Anna Sign Ordinance (as amended).
10
C. Lot Type SF -84 (90' x 120'):
1. Purpose: The SF -84 Single Family Residential District is designed to
accommodate Single Family Residential development on relatively ample Lots.
The District can be appropriately located in proximity to agricultural and Single
Family Residential Uses.
2. Permitted Uses: A Building or premise in a SF -84 District shall be used only for
the purposes as listed in Appendix 2 of the City of Anna Zoning Ordinance. The
Permitted Uses are as follows:
a. Single family dwelling, detached;
b. Community center (public and private);
c. Park, playground, or recreational center (public and private);
d. School, public (primary and/or secondary); and
e. Swimming pool (private)
3. Specific Use Permit: The following specific uses shall be permitted in a SF -84
District, when granted in accordance with Section 37 of the City of Anna Zoning
Ordinance:
a. Public, parochial, and private schools and colleges offering courses of
general instruction and including convents, monasteries, dormitories,
and other related living structures when located on the same site as the
school or college.
b. Churches, synagogues, chapels, and similar places of religions worship
and instruction of a quiet nature when located in a substantial
structure.
c. Utility substations necessary to the functioning of the utility, but not
including general business offices, maintenance facilities and other
general system facilities, when located according to the yard space rules
set forth in this part for dwellings and have a landscaped or masonry
barrier on all sides. Building shall conform to all space limits of this zone
and shall be of such exterior designs to harmonize with nearby
properties.
d. Public and quasi -public buildings for cultural use.
e. Country clubs as defined herein.
f. Uses as listed in Appendix 2 of the City of Anna Zoning Ordinance.
11
4. Plan Requirements: Except as otherwise specifically authorized in the City of
Anna Subdivision Regulations, no building permit or Floodplain Development
Permit shall be issued by the City for any parcel of land until a Final Plat — or
Development Plat, as applicable —of the land has been recorded.
5
7
Height Regulations: No building shall exceed thirty-five feet (35').
Area Regulations: The following minimum standards shall be required as
measured from property lines:
Lot Size:
10,800 square feet
Lot Coverage: The combined area covered by all main
buildings and accessory structures shall not
exceed fifty percent (50%) of the total lot area.
Building Size: The minimum square footage of a dwelling unit,
shall be two thousand (2,000) sf.
Front Yard: 20 feet minimum
Rear Yard: 15 feet minimum (the required Rear Yard shall
be open and unobstructed to the sky from a
point 30 inches above the average elevation of
the Graded Rear Yard, except for Accessory
Buildings as permitted herein. Eaves, covered
porches, and roof extensions without structural
support in the Rear Yard may extend into the
rear yard a distance not to exceed four feet.
Balconies shall not project into the required
Rear Yard.)
Side Yard, Interior: 5 feet minimum
Side Yard, Corner Lot,
Street Side: 15 feet minimum (45 feet where adjacent to
single Family or duplex residential District)
Lot Width: 90 feet minimum; (measured at the front
building line)
Lot Depth: 120 feet minimum
Masonry (Brick or rock veneer): 80%
Parking Regulations: Two enclosed spaces behind the Front Yard line for single-
family Dwelling Units and HUD Code manufactured homes. Other off -Street
12
parking regulations are set forth in Section 38 of the City of Anna Zoning
Ordinance.
8. Signs: Signs in this District shall comply with the requirements of the City of
Anna Sign Ordinance (as amended).
D. Lot Type SF -84 (100' x 150'):
1. Purpose: The SF -84 Single Family Residential District is designed to
accommodate Single Family Residential development on relatively ample Lots.
The District can be appropriately located in proximity to agricultural and Single
Family Residential Uses.
2. Permitted Uses: A Building or premise in a SF -84 District shall be used only for
the purposes as listed in Appendix 2 of the City of Anna Zoning Ordinance. The
Permitted Uses are as follows:
a. Single family dwelling, detached;
b. Community center (public and private);
c. Park, playground, or recreational center (public and private);
d. School, public (primary and/or secondary); and
e. Swimming pool (private)
3. Specific Use Permit: The following specific uses shall be permitted in a SF -84
District, when granted in accordance with Section 37 of the City of Anna Zoning
Ordinance:
a. Public, parochial, and private schools and colleges offering courses of
general instruction and including convents, monasteries, dormitories,
and other related living structures when located on the same site as the
school or college.
b. Churches, synagogues, chapels, and similar places of religions worship
and instruction of a quiet nature when located in a substantial
structure.
c. Utility substations necessary to the functioning of the utility, but not
including general business offices, maintenance facilities and other
general system facilities, when located according to the yard space rules
set forth in this part for dwellings and have a landscaped or masonry
barrier on all sides. Building shall conform to all space limits of this zone
and shall be of such exterior designs to harmonize with nearby
properties.
13
d. Public and quasi -public buildings for cultural use.
e. Country clubs as defined herein.
f. Uses as listed in Appendix 2 of the City of Anna Zoning Ordinance.
4. Plan Requirements: Except as otherwise specifically authorized in the City of
Anna Subdivision Regulations, no building permit or Floodplain Development
Permit shall be issued by the City for any parcel of land until a Final Plat — or
Development Plat, as applicable — of the land has been recorded.
5. Height Regulations: No building shall exceed thirty-five feet (35').
6. Area Regulations: The following minimum standards shall be required as
measured from property lines:
Lot Size:
15,000 square feet
Lot Coverage: The combined area covered by all main
buildings and accessory structures shall not
exceed fifty percent (50%) of the total lot area.
Building Size: The minimum square footage of a dwelling unit,
shall be two thousand (2,000) sf.
Front Yard: 20 feet minimum
Rear Yard: 15 feet minimum (the required Rear Yard shall
be open and unobstructed to the sky from a
point 30 inches above the average elevation of
the Graded Rear Yard, except for Accessory
Buildings as permitted herein. Eaves, covered
porches, and roof extensions without structural
support in the Rear Yard may extend into the
rear yard a distance not to exceed four feet.
Balconies shall not project into the required
Rear Yard.)
Side Yard, Interior: 5 feet minimum
Side Yard, Corner Lot,
Street Side: 15 feet minimum (45 feet where adjacent to
single Family or duplex residential District)
Lot Width: 100 feet minimum; (measured at the front
building line)
14
Lot Depth: 150 feet minimum
Masonry (Brick or rock veneer): 80%
7. Parking Regulations: Two enclosed spaces behind the Front Yard line for single-
family Dwelling Units and HUD Code manufactured homes. Other off -Street
parking regulations are set forth in Section 38 of the City of Anna Zoning
Ordinance.
8. Suns: Signs in this District shall comply with the requirements of the City of
Anna Sign Ordinance (as amended).
TABLE NO. 3-1
Land Use Summary
LAND USE SUMMARY
USE
ACREAGE +/-
SF LOTS
SF DENSITY
(UNITS/ACRE)
PERCENTAGE
SINGLE FAMILY RESIDENTIAL'PD-XX' - 50% MAXIMUM LOT COVERAGE
70'x 120' LOTS 84.07
365
4.34
51.4%
80'x 120' LOTS 45.32
185
4.08
27.7%
90' x 120' LOTS 14.61
55
3.76
8.9%
100' x 150' LOTS 19.70
49
2.49
12.0%
TOTAL 163.7
654
4.00
44.5%
OPEN SPACE 148.7
40.4%
FIRE STATION 2.5
0.7%
AMENITY CENTER 2.0
0.5%
ROW DEDICATION 51.3
13.9%
TOTAL 368.2
654
1.76 GROSS
100.0%
IV. DEVELOPMENT AND DESIGN STANDARDS
A. Accessory Buildings: All development within The Villages of Hurricane Creek Planned
Development District shall comply with Section 35 of the City of Anna Zoning Ordinance
in effect at the time of City Council approval of this ordinance.
Nothing in this ordinance shall be construed as preventing any Architectural Control
Committee with jurisdiction over any neighborhood from further restricting permission,
location, and type of any accessory structure.
15
B. Screening and Fences: All development within The Villages of Hurricane Creek Planned
Development District shall comply with Section 40 of the City of Anna Zoning Ordinance
in effect at the time of City Council approval of this ordinance
C. Landscape Standards: All development within The Villages of Hurricane Creek Planned
Development District shall comply with the City of Anna Code of Ordinance Part I11 -E
(Landscape Regulations) in effect at the time of City Council approval of this ordinance.
1. Tree Requirements:
For all single-family and duplex parcels, builders shall be required to plant two
large trees (minimum of three-inch caliper and seven feet high at time of
planting) per lot prior to obtaining a certificate of occupancy. At least one of the
trees shall be located in the front yard. Existing quality trees of at least three-
inch caliper size located on the lot shall count to meet this standard if
appropriate tree protection measures have been followed. (Ord. No. 56-2003,
adopted 2/11/2003)
Requirements for single family residential and duplex lots three-inch caliper
trees selected from the Large Tree list in the City of Anna Landscape Regulations
shall be planted on all single family residential, duplex, and town home lots. At
least one of the trees must be placed in the front yard of the lot. Single Family
Residential (SF -84) requires 3 trees. The following are approved large trees:
Caddo Maple
Pecan
Shagbark Hickory
DeodarCedar
Texas Persimmon
Black Walnut
Eastern Black Walnut
Red Cedar
Eastern Red Cedar
Sweetgum
Southern Magnolia
Chinese Pistachio
Texas Pistache
Bur Oak
Chinquapin Oak
Shumard Oak
Texas Red Oak
Live Oak
Western Soapberry
Bald Cypress
Winged Elm
American Elm
Cedar Elm
Chinese Elm
Lace Bark Elm
Siberian Elm
16
D. Off -Street Parking Requirements: All development within The Villages of Hurricane
Creek Planned Development District shall comply with Section 38 of the City of Anna
Zoning Ordinance.
E. Residential Architectural Standards:
1) House repetition.
a. Within residential developments, single family homes with substantially
identical exterior elevations can only repeat every four (4) lots when
fronting the same right-of-way including both sides of the street.
b. Homes side by side or across the street within one house (directly
across the street or "caddy corner" across the street) shall not have
substantially identical exterior elevations.
2) Building Articulation. At least four facade articulation techniques are required on
each single family home to add architectural variety and interest to a building. The
following features shall be acceptable techniques of exterior articulation.
a. A base course or plinth course; banding, moldings, or stringcourses;
quoins; oriels; cornices; arches; balconies; brackets; shutters; keystones;
dormers; louvers as part of the exterior wall construction. (Quoins and
banding shall wrap around the corners of the structure for at least two
feet.
b. Horizontal banding continuing the length of the wall that faces a street,
or other similar highly visible areas.
c. The use of both stone and brick on the front elevations with a minimum
of ten percent coverage of one of the elements.
d. Front porch of at least 50 square feet.
e. The installation of at least two (2) coach lights.
f. Other techniques for Building Articulation can be substituted if
administratively approved by the Administrative Official.
3) Roofs.
a. Except for porch roofs and shed roofs, pitched roofs shall have a
minimum slope of 6" x 12" (six inches vertical rise for every 12 inches
horizontal run) and shall have an overhang at least 1' (one foot) beyond
the building wall; however, the overhang shall not encroach into a
setback more than one foot. Porch roofs and shed roofs must have a
minimum pitch of 4" x 12".
b. Roofing materials in all residential districts may only consist of
architectural asphalt shingles (including laminated dimensional
shingles), clay and concrete tile, metal shingles, mineral -surfaced row
roofing, slate and slate -type shingles, wood shingles, wood shakes or an
equivalent or better product as compared with said materials. Should
architectural shingles be used as roofing material, said shingles shall be
accompanied with a minimum 25 year warranty. Under no
circumstances shall three -tab shingles be used as roofing material.
4) Garages. Garages maybe front facing orJ Swing type.
17
5) Fenestration.
a. Windowless exterior walls, excluding garage doors that face a public
right-of-way, or other similar highly visible areas are prohibited. On two
story structures, windows are required on the first and second story
facing a public right-of-way.
b. Windows shall be in harmony with and proportionate to the rest of the
structure.
c. The use of reflective glass on residential structures is prohibited.
Reflective glass will be defined as having a visible light reflectance rating
of 15% or greater
6) Masonry Content.
a. Except as noted below, the exterior walls (excluding windows and
doors) on the First Floor Front Elevation of any single family home shall
be 90 percent masonry and 80 percent on the second floor front
elevation. The total cumulative surface area of the remaining exterior
walls (excluding windows and doors) shall be 80% masonry.
b. Except as noted below, the exterior walls (excluding windows and
doors) on the Front Elevation of any multi -family structure shall be 100
percent masonry. The total surface area of the remaining exterior walls
(excluding windows and doors) shall be 90% masonry.
c. Second floor Dutch Gable Roof elements are not required to be
masonry if setback at least 3 feet from the first floor front elevation
vertical plane.
7) Exceptions to the Residential Architectural Standards in this section may be only
occur after application and review by the Planning and Zoning Commission and
approval by the City Council by Specific Use Permit.
(Ord. No. 597-2012, adopted 10/23/2012)
18
V. DEVELOPMENT SCHEDULE
Date
Total Lots
2015
150
2016
250
2017
300
2018
375
2019
450
2020
550
2021
654
Home construction anticipated through the end of 2021.
Section 3. Official Zoning Map
The official Zoning Map of the City shall be corrected to reflect the change in zoning described
herein.
Section 4. Savings, Repealing and Severability Clauses
It is hereby declared to be the intention of the City Council that the words, sentences, paragraphs,
subdivisions, clauses, phrases, and provisions of this ordinance are severable and, if any phrase,
sentence, paragraph, subdivision, clause, or provision of this ordinance shall be declared
unconstitutional or otherwise invalid or inapplicable by the valid judgment or decree of any court
of competent jurisdiction, such unconstitutionality, invalidity or inapplicability shall not affect
any of the remaining words, sentences, paragraphs, subdivisions, clauses, phrases, or provisions
of this ordinance, since the same would have been enacted by the City Council without the
incorporation in this ordinance of any such unconstitutional, invalid or inapplicable words,
sentences, paragraphs, subdivisions, clauses, phrases, or provisions. Further, all ordinances or
parts of ordinances in force when the provisions of this ordinance become effective that are
consistent and do not conflict with the terms and provisions of this ordinance are hereby ratified
to the extent of such consistency and lack of conflict, and all ordinances or parts of ordinances in
force when the provisions of this ordinance become effective that are inconsistent or in conflict
with the terms and provisions contained in this ordinance are hereby repealed only to the extent
of any such conflict.
19
Section 5. Penalty
Any violation of any of the terms of this ordinance, whether denominated in this ordinance as
unlawful or not, shall be deemed a misdemeanor. Any person convicted of any such violation
shall be fined in an amount not to exceed $2,000 for each incidence of violation. Each day a
violation exists is considered a separate offense and will be punished separately.
Section 6. Publication of the Caption and Effective Date
This ordinance shall be effective upon its passage by the City Council, approval by the Mayor,
and posting and/or publication, if required by law, of its caption. The City Secretary is hereby
authorized and directed to implement such posting and/or publication.
PASSED by the City Council of the City of Anna, Texas this day of
2014.
ATTESTED:
APPROVED:
Natha Wilkison, City Secretary Mike Crist, Mayor
20
EXHIBIT "A"
LEGAL DESCRIPTION
BEING all that certain tract of land situated in then Joseph Boyle Survey, Abstract Number 105, the John
Coffman Survey, Abstract Number 197 the J. M. Kincade Survey, Abstract Number 509 J. W. Mitchel
Survey, Abstract Number 565 the W. Rattan Survey, Abstract Number 752 and the T. Rattan Survey,
Abstract Number 785, Collin County, Texas and being all of a called 262.41 acre tract as described by
deed to Villages of Hurricane Creek, LP recorded in Volume 5430, Page 9864 of County Records, Collin
County, Texas and being part of a called 114.252 acre of land described by deed to Don Collins, et al
recorded in Volume 5257, Page 4877 of said County Records and being more particularly described by
metes and bounds as follows:
BEGINNING at the southeast corner of said 262.41 acre tract, in the west line of said 114.252 acre tract:
THENCE S 89°54'24"W, 2687.84 feet;
THENCE N 00°04'27"W, 387.21 feet;
THENCE N 89°58'14"W, 849.21 feet;
THENCE N 03°33'44"E, 1188.00 feet;
THENCE N 88°26'26"W, 365.15 feet;
THENCE N 23°08'27"W, 67.47 feet;
THENCE N 02°48'15"E, 1930.31 feet;
THENCE N 89°5255"E, 465.63 feet;
THENCE N 89°15'32"E, 742.56 feet;
THENCE S 90°00'00"E, 1755.97 feet to the northeast corner of said 262.41 acre tract of land and being
the northwest corner of said 114.252 acre tract;
THENCE N 89°11'00"E, 794.06 feet;
THENCE S 00°10'57"W, 232.18 feet;
THENCE N 89°56'12"E, 1184.36 feet;
THENCE S 01°06'39"E, 55.96 feet to the beginning of a curve to the right;
THENCE with said curve to the right, an arc distance of 205.39 feet, through a central angle of 16°48'41",
having a radius of 700.00 feet, the long chord which bears S 07°17'41"W, 204.65 feet;
21
THENCE S 15°42'02"W, 121.60 feet;
THENCE with said curve to the left, an arc distance of 205.39 feet, through a central angle of 16°48'41",
having a radius of 700.00 feet, the long chord which bears S 07°1741"W, 204.65 feet;
THENCE S 01°06'39"E, 201.55 feet;
THENCE with said curve to the right, an arc distance of 116.43 feet, through a central angle of 09°31'48",
having a radius of 699.99 feet, the long chord which bears S 03°39'15"W, 116.30 feet;
THENCE S 08°25'09"W, 393.86 feet;
THENCE with said curve to the left, an arc distance of 101.69 feet, through a central angle of 08°19'23",
having a radius of 700.03 feet, the long chord which bears S 04°15'28"W, 101.60 feet;
THENCE S 00°0544"W, 1035.62 feet;
THENCE with said curve to the right, an arc distance of 530.61 feet, through a central angle of 43°25'52",
having a radius of 700.00 feet, the long chord which bears S 21°48'40"W, 518.00 feet;
THENCE S 43°31'37"W, 241.38 feet;
THENCE with said curve to the right, an arc distance of 25.41 feet, through a central angle of 00°02'48",
having a radius of 400.00 feet, the long chord which bears S 43°40'02"W, 25.41 feet;
THENCE N 89°44'50"W, 655.06 feet;
THENCE S 00°56'11"E, 265.80 feet to the Point of Beginning and containing 16,037,378 square feet or
368.2 acres of land more or less.
22
EXHIBIT "B"
CONCEPT PLAN
23
N