HomeMy WebLinkAboutOrd 804-2019 Designating Tax Increment Reinvestment Zone #2 (TIRZ) Hurricane CreekCERTIFICATE FOR ORDINANCE
THE STATE OF TEXAS
COLLIN COUNTY
CITY OF ANNA
We, the undersigned officers of the City of Anna, Texas (the "City"), hereby certify as follows:
1. The City Council (the "Council") of the City convened in a regular meeting on March
12, 2019, at the regular designated meeting place, and the roll was called of the duly constituted officers
and members of the Council, to wit:
Nate Pike, Mayor
Lee Miller, Mayor Pro-Tem
Nathan Bryan, Deputy Mayor Pro-Tem
Kevin Toten, Council Member
Alonzo Tutson, Council Member
John Beazley, Council Member
Chris Reeves, Council Member
Jim Proce, City Manager
Carrie L. Smith, City Secretary
and all of said persons were present, except Nathan Bryan and Chris Reeves, thus constituting a
quorum. Whereupon, among other business the following was transacted at said meeting: a written
Ordinance entitled
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF ANNA,
TEXAS, DESIGNATING A CONTIGUOUS GEOGRAPHIC AREA WITHIN
THE CITY AS A TAX INCREMENT REINVESTMENT ZONE PURSUANT
TO CHAPTER 311 OF THE TEXAS TAX CODE, TO BE KNOWN AS TAX
INCREMENT REINVESTMENT ZONE NUMBER TWO, CITY OF ANNA;
DESCRIBING THE BOUNDARIES OF THE ZONE; CREATING A BOARD
OF DIRECTORS FOR THE ZONE; ESTABLISHING A TAX INCREMENT
FUND FOR THE ZONE; CONTAINING FINDINGS RELATED TO THE
CREATION OF THE ZONE; PROVIDING A DATE FOR THE
TERMINATION OF THE ZONE; PROVIDING THAT THE ZONE TAKE
EFFECT IMMEDIATELY UPON PASSAGE OF THE ORDINANCE;
PROVIDING A SEVERABILITY CLAUSE; AND PROVIDING AN
EFFECTIVE DATE.
was duly introduced for the consideration of the Council. It was then duly moved and seconded that
said Ordinance be passed; and, after due discussion, said motion, carrying with it the passage of said
Ordinance, prevailed and carried, with all members of the Council shown present above voting "Aye,"
except as noted below:
NAYS: 0 ABSTENTIONS: 0
2. A true, full, and correct copy of the aforesaid Ordinance passed at the meeting
described in the above and foregoing paragraph is attached to and follows this Certificate; said
Ordinance has been duly recorded in the Council's minutes of said meeting; the above and foregoing
paragraph is a true, full, and correct excerpt from the Council's minutes of said meeting pertaining to
the passage of said Ordinance; the persons named in the above and foregoing paragraph are the duly
chosen, qualified, and acting officers and members of the Council as indicated therein; that each of the
officers and members of the Council was duly and sufficiently notified officially and personally, in
advance, of the time, place, and purpose of the aforesaid meeting, and that said Ordinance would be
introduced and considered for passage at said meeting, and each of said officers and members
consented, in advance, to the holding of said meeting for such purpose; and that said meeting was open
to the public, and public notice of the time, place, and purpose of said meeting was given all as required
by the Texas Government Code, Chapter 551.
3. The Council has approved and hereby approves the Ordinance; and the Mayor and City
Secretary hereby declare that their signing of this Certificate shall constitute the signing of the attached
and following copy of said Ordinance for all purposes.
SIGNED AND SEALED ON MARCH 12, 2019.
&A,A�,F-,) 6q. 4 4 iz Wal,
Carrie L. Smith, City ecretary Nate Pike, Mayor
tit I I J l
(City Seal) �``,0`�1 OF .4
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.
CITY OF ANNA, TEXAS
ORDINANCE NO. 804-2019
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF ANNA,
TEXAS, DESIGNATING A CONTIGUOUS GEOGRAPHIC AREA
WITHIN THE CITY AS A TAX INCREMENT REINVESTMENT ZONE
PURSUANT TO CHAPTER 311 OF THE TEXAS TAX CODE, TO BE
KNOWN AS TAX INCREMENT REINVESTMENT ZONE NUMBER
TWO, CITY OF ANNA; DESCRIBING THE BOUNDARIES OF THE
ZONE; CREATING A BOARD OF DIRECTORS FOR THE ZONE;
ESTABLISHING A TAX INCREMENT FUND FOR THE ZONE;
CONTAINING FINDINGS RELATED TO THE CREATION OF THE
ZONE; PROVIDING A DATE FOR THE TERMINATION OF THE ZONE;
PROVIDING THAT THE ZONE TAKE EFFECT IMMEDIATELY UPON
PASSAGE OF THE ORDINANCE; PROVIDING A SEVERABILITY
CLAUSE; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City of Anna, Texas (the "City"), pursuant to Chapter 311 of the Texas
Tax Code, as amended (the "Act"), may designate a geographic area within the City as a tax
increment reinvestment zone if the area satisfies the requirements of the Act; and
WHEREAS, the Act provides that the governing body of a municipality by ordinance may
designate a contiguous or noncontiguous geographic area that is in the City limits of the
municipality to be a reinvestment zone if the governing body determines that development or
redevelopment would not occur solely through private investment in the reasonably foreseeable
future; and
WHEREAS, the City Council of the City (the "City Council") desires for the City to
consider the creation of a tax increment reinvestment zone with the boundaries described in the
metes and bounds attached hereto as Exhibit A and more generally depicted in Exhibit B attached
hereto (the "Zone"); and
WHEREAS, pursuant to and as required by the Act, the City has prepared a Reinvestment
Zone Number Two, City of Anna, Texas Preliminary Project and Financing Plan, dated March 12,
2019, attached as Exhibit C (hereinafter referred to as the "Preliminary Project and Finance Plan")
for a proposed tax increment reinvestment zone containing the real property within the Zone; and
WHEREAS, notice of the public hearing on the creation of the proposed zone was
published in the official newspaper of the City on or before March 5, 2019, which date is the
seventh (7ffi) day before the public hearing held on March 12, 2019; and
WHEREAS, on March 12, 2019, the City Council opened a public hearing in accordance
with Section 311.003(c) of the Act, and interested persons were allowed to speak for or against the
creation of the Zone, the boundaries of the Zone, and the concept of tax increment financing, and
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owners of property in the proposed Zone were given a reasonable opportunity to protest the
inclusion of their property in the Zone; and
WHEREAS, after all comments and evidence, both written and oral, were received by the
City Council, the public hearing was closed on March 12, 2019; and
WHEREAS, the public hearing was held in full accordance with Section 311.003(c) of the
Act; and
WHEREAS, the City has taken all actions required to create the Zone including, but not
limited to, all actions required by the home -rule Charter of the City, the Act, the Texas Open
Meetings Act (defined herein), and all other laws applicable to the creation of the Zone; and
WHEREAS, the percentage of the property in the proposed zone, excluding property that
is publicly owned, that is used for residential purposes is less than thirty percent; and
WHEREAS, a Preliminary Project and Finance plan has been prepared for the proposed
reinvestment zone.
NOW THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF ANNA, TEXAS, THAT:
SECTION 1. RECITALS INCORPORATED.
The facts and recitations contained in the preamble of this Ordinance are hereby found and
declared to be true and correct and are incorporated and adopted as part of this Ordinance for all
purposes.
SECTION 2. FINDINGS.
That the City Council, after conducting the above described hearing and having heard the evidence
and testimony presented at the hearing, has made the following findings and determined based on
the evidence and testimony presented to it:
(a) That the public hearing on the creation of the proposed reinvestment zone has been properly
called, held and conducted and that notice of such hearing has been published as required by
applicable law, including the Act; and
(b) That creation of the proposed reinvestment zone with boundaries as described and depicted 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; and
(c) That the proposed reinvestment zone, as described and depicted in Exhibits A and B, meets
the criteria for the creation of a reinvestment zone set forth in the Act in that:
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1. It is a geographic area located wholly within the City limits; and
2. The area is predominately open, undeveloped or underdeveloped, and the lack of necessary
public improvements impairs sound growth of the City; and
(d) That 30 percent or less of the property in the proposed reinvestment zone, excluding property
dedicated to public use, is currently used for residential purposes; and
(e) That the total appraised value of 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; and
(f) That the improvements in the proposed reinvestment zone will significantly enhance the value
of all taxable real property in the proposed reinvestment zone and will be of general benefit to
the City; and
(g) That the development or redevelopment of the Property in the proposed reinvestment zone
will not occur solely through private investment in the reasonably foreseeable future; and
(h) The City Council has prepared the Preliminary Project and Finance Plan prior to the adoption
of this Ordinance; and
(i) The City Council finds that the Preliminary Project and Finance Plan is feasible.
SECTION 3. DESIGNATION AND NAME OF THE ZONE.
Pursuant to the authority of, and in accordance with the requirements of the Act, the City Council
hereby designates the area described and depicted in Exhibits A and B hereto as a tax increment
reinvestment zone. The name assigned to the zone for identification is Reinvestment Zone
Number Two, City of Anna (hereinafter referred to as the "Zone").
SECTION 4. BOARD OF DIRECTORS.
(a) The City Council hereby creates a board of directors for the Zone (hereinafter referred to as
the "Board") consisting of seven (7) members all appointed by the City Council. Council
Members may serve as Board members.
(b) The Board members appointed to the Board shall be eligible to serve on the Board if that
person is at least 18 years of age, and is a resident of the county in which the Zone is located
or a county adjacent to that county.
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(c) The Board shall make recommendations to the City Council concerning the administration,
management, and operation of the Zone. The Board shall prepare or cause to be prepared and
adopt a project plan and a reinvestment zone financing plan for the Zone (hereinafter referred
to as the "Project and Finance Plan") as required by the Act, and shall submit the Project and
Finance Plan to the City Council for approval. The Board shall consider amendments to the
Project and Finance Plan on its own initiative or upon submission by the City Council, but
amendments considered by Board shall not take effect unless and until adopted by City
Council.
(e) Directors shall not receive any salary or other compensation for their services as directors.
(f) Members of the Board shall be appointed for terms of two years. The terms of the Board
members may be staggered. The City Council may remove and replace Board members at any
time during a term.
(g) The initial Board shall be seven members and the following shall be members:
1. Mayor
2. City Councilmember, Place 1
3. City Councilmember, Place 2
4. City Councilmember, Place 3
5. City Councilmember, Place 4
6. City Councilmember, Place 5
7. City Councilmember, Place 6
The City Council hereby appoints Mayor to serve as chairman of the Board during the time the
initial Board is serving. Each year the City shall appoint one member of the Board to serve as
chairman for a term of one year that begins on January 1 of the year. If City Council does not
appoint a chairman during that period, the Mayor is automatically appointed to serve as
chairperson for the term that begins on January 1 of the following year. The Board may elect a
vice-chairman to preside in the absence of the chairman or when there is a vacancy in the office of
chairman. The Board may elect other officers as it considers appropriate.
SECTION 5. DURATION OF THE ZONE.
That the Zone shall take effect immediately upon the passage and approval of this Ordinance,
consistent with Section 311.004(a)(3) of the Act, and termination of the Zone shall occur upon any
of the following: (i) on December 31, 2048; or (ii) the amount of the City's contribution of the
Tax Increment into the Tax Increment Fund since the effective date of the Zone equals an amount
estimated to be $7,953,133, which amount is subject to a TIRZ par amount of $7,400,000.00 plus
six and a half percent (6.5%) interest and TIRZ Administrative Expenses, as set forth in the Project
and Finance Plan; or (iii) at such time, subsequent to the issuance of tax increment bonds, if any,
that all project costs, tax increment bonds, notes and other obligations of the Zone, and the interest
thereon, have been paid in full, in accordance with Section 311.017 of the Act; or (iv) at a time
designated by subsequent ordinance.
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SECTION 6. TAX INCREMENT BASE AND TAX INCREMENT.
Pursuant to Section 311.012(c) of the Act, the tax increment base of the City, or any other taxing
unit participating in the Zone, is the total taxable value, as of January 1, 2019, of all real property
taxable by the City or other taxing unit participating in the Zone, and located in the Zone for the
year in which the Zone was designated as a reinvestment zone (the "Tax Increment Base"). That
consistent with Section 311.012(a) of the Act, the amount of the tax increment for a year is an
amount equal to sixty-four and 61/100 percent (64.61%), of real property taxes levied, assessed,
and collected by the City and all or a portion of property taxes of other taxing units participating
in the Zone and located in the Zone (as set forth in an agreement to participate in the Zone) for that
year on the Captured Appraised Value (defined below) of real property taxable by City or other
taxing unit participating in the Zone and located in the Zone (the "Tax Increment"). Consistent
with Section 311.012(b) of the Texas Tax Code, as amended, the Captured Appraised Value of
real property taxable by the City or other taxing unit participating in the Zone for a year is the total
appraised value of all real property taxable by the City or other taxing unit and located in the Zone
for that year less the Tax Increment Base (the "Captured Appraised Value").
SECTION 7. TAX INCREMENT FUND.
There is hereby created and established a "Tax Increment Fund" for the Zone that may be divided
into subaccounts as authorized by subsequent ordinances, into which the Tax Increment of the
City, as such increments are described in the Project and Finance Plan and includes administration
costs, 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 shall be maintained at the
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 to be dedicated to and used in the Zone shall be
deposited into the Tax Increment Fund from which money will be disbursed to pay project costs,
plus interest, for the Zone, however excess funds may be transferred to the City's general fund as
determined by the City.
SECTION 8. SEVERABILITY CLAUSE.
Should any provision, section, subsection, sentence, clause or phrase of this Ordinance be declared
unconstitutional or invalid by a court of competent jurisdiction, it is expressly provided that any
and all remaining portions of this Ordinance shall remain in full force and effect. The City of
Anna hereby declares that it would have passed this Ordinance, and each provision, section,
subsection, sentence, clause or phrase thereof irrespective of the fact that any one or more
provisions, sections, subsections, sentences, clauses and phrases be declared unconstitutional or
invalid.
SECTION 9. OPEN MEETINGS.
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It is hereby found, determined, and declared that sufficient written notice of the date, hour, place
and subject of the meeting of the City Council at which this Ordinance was adopted was posted at
a place convenient and readily accessible at all times to the general public at the City Hall of the
City for the time required by law preceding its meeting, as required by the Texas Open Meetings
Act, Chapter 551 of the Texas Government Code, and that this meeting has been open to the public
as required by law at all times during which this Ordinance and the subject matter hereof has been
discussed, considered and formally acted upon. The City Council further ratifies, approves and
confirms such written notice and the contents and posting thereof.
SECTION 10. EFFECTIVE DATE.
This Ordinance shall take effect immediately upon its adoption in accordance with and as
provided by law and the City Charter.
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PASSED AND APPROVED BY THE CITY COUNC;Z7
NNA,
TEXAS, THIS THE 12TH DAY OF MARCH, 2019.
Nate Pike, Mayor
ATTEST:
( �Gth�►1� (l l . s��-virr fir_'
Carrie L. Smith, City Secretary
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Exhibit A
Metes and Bounds Description of the Zone
92.186 Acres (Hurricane Creek PID Improvement Area #1)
LEGAL DESCRIPTION
BEING a tract of land situated in the Joseph Boyle Survey, Abstract Number 105, W.S. Rattan
Survey, Abstract Number 752, T. Rattan Survey, Abstract Number 782, and the J. Coffman
Survey, Abstract Number 197, Collin County, Texas and being part of that tract of land
described in deed to CADG Hurricane Creek, LLC, recorded in Instrument Number
20150529000631020 of the Official Public Records of Collin County, Texas and being more
particularly described as follows:
BEGINNING at a 518" iron rod found for the northeast corner of a remainder tract WBK
Partners, LTD recorded in Volume 4292, Page 27 of said Official Public Records and the
easternmost southeast corner of said CADG Hurricane Creek, LLC tract;
THENCE S 88058'27" W, 1,910.63 feet with the south line of said CADG tract to a 5/8" iron rod
with plastic cap stamped "PELOTON" set;
THENCE departing said south line of the CADG Hurricane Creek, LLC tract, N 00° 15'27" E,
421.11 feet to a 5/8" iron rod with plastic cap stamped "PELOTON" set;
THENCE N 46018'49" E, 320.76 feet to a 5/8" iron rod with plastic cap stamped "PELOTON"
set;
THENCE N 4304l'11" W, 120.00 feet to a 5/8" iron rod with plastic cap stamped "PELOTON"
set;
THENCE S46018'49" W, 117.06 feet to a 5/8" iron rod with plastic cap stamped "PELOTON"
set;
THENCE N 43041'11" W, 50.00 feet to a 5/8" iron rod with plastic cap stamped "PELOTON"
set;
THENCE N 46018'49" E, 145.00 feet to a 5/8" iron rod with plastic cap stamped "PELOTON"
set;
THENCE N 43041'11" W, 120.00 feet to a 5/8" iron rod with plastic cap stamped "PELOTON"
set;
THENCE N 46018'49" E, 570.00 feet to a 5/8" iron rod with plastic cap stamped "PELOTON"
set;
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4848880v.2 3058/0044
THENCE N 43041'l 1" W, 170.00 feet to a 5/8" iron rod with plastic cap stamped "PELOTON"
set;
THENCE N 46018'49" E, 2.17 feet to a 5/8" iron rod with plastic cap stamped "PELOTON" set
to the beginning of a curve to the right;
THENCE, with said curve to the right, an arc distance of 47.91 feet, through a central angle of
05054'13", having a radius of 465.00 feet, the long chord bears N 49°15'56" E, 47.89 feet to a
5/8" iron rod with plastic cap stamped "PELOTON" set;
THENCE N 43041'11" W, 163.78 feet to a 5/8" iron rod with plastic cap stamped "PELOTON"
set;
THENCE N 46018'49" E, 259.23 feet to a 5/8" iron rod with plastic cap stamped "PELOTON"
set;
THENCE N 89013'07" E, 741.15 feet to a 518" iron rod with plastic cap stamped "PELOTON"
set;
THENCE S 23012'58" E, 16.58 feet to a 5/8" iron rod with plastic cap stamped "PELOTON" set;
THENCE N 89013'07" E, 140.84 feet to a 5/8" iron rod with plastic cap stamped "PELOTON"
set;
THENCE N 59026'33" E, 195.37 feet to a 5/8" iron rod with plastic cap stamped "PELOTON"
set;
THENCE N 89013'07" E, 731.48 feet to a 5/8" iron rod with plastic cap stamped "PELOTON"
set;
THENCE S 00046'53" E, 284.46 feet to a 5/8" iron rod with plastic cap stamped "PELOTON"
set;
THENCE N 89013'07" E, 525.00 feet to a 5/8" iron rod with plastic cap stamped "PELOTON"
set;
THENCE S 00046'53" E, 460.00 feet to a 5/8" iron rod with plastic cap stamped "PELOTON"
set;
THENCE S 89013'07" W, 170.00 feet to a 5/8" iron rod with plastic cap stamped "PELOTON"
set;
THENCE S 01032'35" W, 138.83 feet to a 5/8" iron rod with plastic cap stamped "PELOTON"
set;
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4848880v.2 3058/0044
THENCE S 03056'49" W, 63.28 feet to a 5/8" iron rod with plastic cap stamped "PELOTON"
set;
THENCE S 20040'36" W, 64.06 feet to a 5/8" iron rod with plastic cap stamped "PELOTON"
set;
THENCE S 34031'32" W, 64.92 feet to a 5/8" iron rod with plastic cap stamped "PELOTON"
set;
THENCE S 56029'24" W, 66.49 feet to a 5/8" iron rod with plastic cap stamped "PELOTON"
set;
THENCE S 5501 F09" W, 70.72 feet to a 5/8" iron rod with plastic cap stamped "PELOTON"
set;
THENCE S 33007'12" E, 131.90 feet to a 5/8" iron rod with plastic cap stamped "PELOTON"
set;
THENCE S 36016'47" E, 50.00 feet to a 5/8" iron rod with plastic cap stamped "PELOTON" set;
THENCE S 53043'13" W, 1.72 feet to a 5/8" iron rod with plastic cap stamped "PELOTON" set;
THENCE S 36016'47" E, 163.61 feet to a 5/8" iron rod with plastic cap stamped "PELOTON"
set in the east line of said CADG Hurricane Creek, LLC. Tract at the beginning of a curve to the
right;
THENCE with said curve to the right, an arc distance of 61.57 feet, through an angle of
05002'21", having a radius of 700.00 feet, and a long chord which bears S 56°44'35" W, 61.55
feet to a 5/8" iron rod with plastic cap stamped "PELOTON" set;
THENCE S 59001'02" W, 294.65 feet to a 5/8" iron rod with plastic cap stamped "PELOTON"
set;
THENCE S 89021'12" W, 420.50 feet to a 5/8" iron rod with plastic cap stamped "PELOTON"
set;
THENCE S 01031'l0" E, 184.67 feet to the POINT OF BEGINNING and containing 4,015,625
square feet or 92.186 acres of land, more or less.
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Exhibit B
Depiction of Zone
0 TIR;' 2 TIRZ No. 2 MAP
VILLAGES OF
PELOTQN
HURRICANE CREEK !1
PHASE #1 °I
GgWHIC EG7-E IN FEET
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Exhibit C
Preliminary Project Plan and Finance Plan
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REINVESTMENT ZONE NUMBER TWO,
CITY OF ANNA, TEXAS
PRELIMINARY PROJECT AND FINANCING PLAN
MARCH 12, 2019
TABLE OF CONTENTS
Tableof Contents..........................................................................................................................................1
Section1: Introduction.................................................................................................................................
2
Section 2: Description and Maps.................................................................................................................4
Section 3: Proposed Changes to Ordinances, Plans, Codes, Rules, and Regulations...................................4
Section 4: Relocation of Displaced Persons..................................................................................................5
Section 5: Estimated Non -Project Costs.......................................................................................................
5
Section 6: Proposed Public Improvements...................................................................................................5
Section 7: Estimated Project Costs...............................................................................................................
5
Section 8: Economic Feasibility.....................................................................................................................6
Section 9: Estimated Bonded Indebtedness.................................................................................................7
Section10: Appraised Value.........................................................................................................................7
Section 11: Method of Financing..................................................................................................................7
Section 12: Duration of the Zone, Termination............................................................................................
8
Listof Exhibits...............................................................................................................................................8
AppendixA —Legal Description....................................................................................................................9
AppendixB — Map.......................................................................................................................................11
Appendix C — List of Non -Project Costs.......................................................................................................12
Appendix D — List of Project Costs..............................................................................................................13
Appendix E — Estimated Timeline of Incurred Costs...................................................................................14
AppendixF — Feasibility Study....................................................................................................................15
REINVESTMENT ZONE NO. 2, CITY OF ANNA, TEXAS 1
PRELIMINARY PROJECT AND FINANCE PLAN
SECTION 1: INTRODUCTION
1.1 Authority and Purpose
The City of Anna, Texas, a Texas home -rule municipality (the "City') has the authority under
Chapter 311, Texas Tax Code, Tax Increment Financing Act, as amended (the "Act") to designate
a contiguous or noncontiguous geographic area within the corporate limits or extraterritorial
jurisdiction ("ETJ") of the City as a tax increment reinvestment zone to promote development or
redevelopment of the area because the governing body of the City (the "City Council") has
determined that development or redevelopment would not occur solely through private
investment in the reasonably foreseeable future, that the zone is feasible, and that creation of
the zone is in the best interest of the City and the property in the zone. The purpose of the zone
is to facilitate such development or redevelopment by financing the costs of public works, public
improvements, programs, and other projects benefiting the zone, plus other costs incidental to
those expenditures, all of which costs are authorized by the Act.
1.2 Eligibility Requirements
An area is eligible under the Act to be designated as a tax increment reinvestment zone if it is
predominantly open or undeveloped and, because of obsolete platting, deterioration of
structures or site improvements, or other factors, substantially impairs or arrests the sound
growth of the City. The City cannot, however, designate a zone if more than thirty percent (30%)
of the property in the proposed zone, excluding property that is publicly owned, is used for
residential purposes, or if the total appraised value of taxable real property in the proposed zone
and in existing reinvestment zones exceeds fifty percent (50%) of the total appraised value of
taxable real property in the City and in industrial districts created by the City.
1.3 Proposed Zone
The City Council intends to create a tax increment reinvestment zone to be known as
"Reinvestment Zone Number Two, City of Anna, Texas" (the "Zone") that includes approximately
92.186 acres of land as described on by metes and bounds on Appendix A and depicted on
Appendix B (the "Property"). The Property is owned by CADG Hurricane Creek, LLC, a Texas
limited liability company (the "Owner"). The Property is currently zoned planned development
district for residential uses. The Property is undeveloped, and due to its size, location, and
physical characteristics, development will not occur solely through private investment in the
foreseeable future. The Property substantially impairs and arrests the sound growth of the City
because it is predominately open and undeveloped due to factors such as the lack of public
infrastructure and the need for economic incentive to attract development to the Zone for the
purpose of providing long-term economic benefits including, but not limited to, increased real
property tax base for all taxing units in the Zone. If the public improvements, and other projects
REINVESTMENT ZONE NO. 2, CITY OF ANNA, TEXAS 2
PRELIMINARY PROJECT AND FINANCE PLAN
are financed as contemplated by this Preliminary Plan (hereinafter defined), the City envisions
that the Property will be developed to take full advantage of the opportunity to bring to the City,
Collin County, Texas (the "County"), the initial phase of a quality master planned residential
development.
1.4 Preliminary Plan and Hearing
Before the City Council adopts the ordinance designating the Zone, the City Council must prepare
a preliminary reinvestment zone financing plan in accordance with the Act and hold a public
hearing on the creation of the proposed Zone and its benefits to the City and to the Property, at
which public hearing interested persons are given the opportunity to speak for and against the
creation of the proposed Zone, the boundaries of the proposed Zone and the concept of tax
increment financing, and at which hearing the owners of the Property will be given a reasonable
opportunity to protest the inclusion of their Property in the proposed Zone. The requirement of
the Act for a preliminary reinvestment zone financing plan is satisfied by this Preliminary Plan
dated March 12, 2019 (the "Preliminary Plan"), the purpose of which is to describe, in general
terms, the public improvements that will be undertaken and financed by the Zone. A description
of how such public improvements and projects will be undertaken and financed will be
determined by the Final Plan and by the TIRZ Agreement (both hereinafter defined), which
require approval by the Board (hereinafter defined) and by the City Council.
1.5 Creation of the Zone
Upon the closing of the above referenced public hearing, the City Council may adopt an ordinance
in accordance with the Act creating the Zone if (1) the City Council finds that development or
redevelopment of the Property would not occur solely through private investment in the
reasonably foreseeable future, (2) that the Zone is feasible, and (3) that improvements in the
Zone will significantly enhance the value of all the taxable real property in the Zone and will be
of general benefit to the City. Among other provisions required by the Act, the ordinance creating
the Zone will appoint a Board of Directors for the Zone (the "Board").
1.6 Board Recommendations
After the creation of the Zone, the Board will review the Preliminary Plan and approve and
recommend to the City Council a "Reinvestment Zone Number Two, City of Anna, Texas, Final
Project and Financing Plan" (the "Final Plan"), and an agreement between the Owner, Board, and
City (the "TIRZ Agreement") pursuant to which the City will contribute a portion of its ad valorem
tax increment attributable to new development in the Zone (the "Tax Increment") into a tax
increment fund created by the City and segregated from all other funds of the City (the "TIRZ
Fund") to pay to the Owner or its assigns, in accordance with the TIRZ Agreement, the costs of
public improvements and other projects benefiting the Zone.
REINVESTMENT ZONE NO. 2, CITY OF ANNA, TEXAS 3
PRELIMINARY PROJECT AND FINANCE PLAN
1.7 Council Action
The City Council will take into consideration the recommendations of the Board and will consider
approval of the Final Plan and the TIRZ Agreement. If the TIRZ Agreement is approved, the City
Council will authorize and direct its execution.
SECTION 2: DESCRIPTION AND MAPS
2.1 Existing Uses and Conditions
The Property is currently located in the County and within the corporate limits of the City and is
zoned planned development district for residential uses per Ordinance No. 689-2015. The
Property is undeveloped, and there is no public infrastructure to support development.
Development will require extensive public infrastructure that: (1) the City cannot provide, and
(2) will not be provided solely through private investment in the foreseeable future. A map of
the Property and the proposed Zone is shown on Appendix B.
2.2 Proposed Uses
The proposed use of the Property is the first phase of a residential master planned community
expected to contain 215 single family residential lots pursuant to that certain First Amended and
Restated Villages of Hurricane Creek Subdivision Improvement Agreement between the City and
the Developer effective as August 28, 2018, as amended by that Second Amended Villages of
Hurricane Creek Subdivision Improvement Agreement effective as of November 13, 2018, as
further amended by the Third Amended Villages of Hurricane Creek Subdivision Improvement
Agreement effective as of February 12, 2019 (collectively the "Subdivision Improvement
Agreement"), as amended.
SECTION 3: PROPOSED CHANGES TO ORDINANCES, PLANS, CODES, RULES, AND
REGULATIONS
The Property is wholly located in the corporate limits of the City and is subject to the City's zoning
regulation. The City has exclusive jurisdiction over the subdivision and platting of the property
within the Property and the design, construction, installation, and inspection of water, sewer,
drainage, roadway, and other public infrastructure. No proposed changes to zoning ordinances,
comprehensive plan, building codes, subdivision rules, or other municipal ordinances are
planned.
REINVESTMENT ZONE NO. 2, CITY OF ANNA, TEXAS `a
PRELIMINARY PROJECT AND FINANCE PLAN
SECTION 4: RELOCATION OF DISPLACED PERSONS
No persons will be displaced and in need of relocation due to the creation of the Zone or
implementation of the Final Plan.
SECTION 5: ESTIMATED NON -PROJECT COSTS
Non -project costs are private funds that will be spent to develop in the Zone but will not be
financed by the Zone. The list of non -project costs is shown on Appendix C. The total non -project
costs are estimated to be approximately $3,744,926.
SECTION 6: PROPOSED PUBLIC IMPROVEMENTS
6.1 Categories of Public Improvements
The proposed public improvements to be financed by the Zone include street, water, sanitary
sewer, storm drainage, street lights/hike and bike trails, as further described in Appendix D (the
"Public Improvements"). All Public Improvements shall be designed and constructed in
accordance with all applicable City standards and shall otherwise be inspected, approved, and
accepted by the City. At the City's option, the Public Improvements may be expanded to include
any other category of improvements authorized by the Act.
6.2 Locations of Public Improvements
The estimated locations of the proposed Public Improvements are described in the Subdivision
Improvement Agreement. These locations may be revised, with the approval of the City, from
time to time without amending the Final Plan.
SECTION 7: ESTIMATED PROJECT COSTS
7.1 Project Costs
The total costs for projects in the Zone include the costs of the Public Improvements and the cost
of administering the Zone (the "Project Costs"), are estimated to be $5,569,453, as shown on
Appendix D.
7.2 Estimated Costs of Public Improvements
The estimated costs of the Public Improvements (the "Public Improvement Costs") within the
Zone are $5,366,613, as shown on Appendix D.
1
REINVESTMENT ZONE NO. 2, CITY OF ANNA, TEXAS 5
PRELIMINARY PROJECT AND FINANCE PLAN
7.3 Estimated Administrative Costs
The estimated costs for administration of the Zone shall be the actual, direct costs paid or
incurred by or on behalf of the City to administer the Zone (the "Administrative Costs"). The
Administrative Costs include the costs of professional services, including those for planning,
engineering, and legal services paid by or on behalf of the City. The Administrative Costs also
include organizational costs, the cost of publicizing the creation of the Zone, and the cost of
implementing the project plan for the Zone paid by or on behalf of the City that are directly
related to the administration of the Zone. The Administrative Costs shall be paid each year from
the TIRZ Fund before any other Project Costs are paid. The Administrative Costs are estimated
to be $5,000 per year beginning 2019 and escalating at two percent (2%) thereafter.
7.4 Estimated Timeline of Incurred Costs
The Administrative Costs will be incurred annually beginning at the time the Zone is created and
through the duration of the Zone. It is estimated the Project Costs will be incurred during calendar
years 2019 and 2020, as shown on Appendix E.
SECTION 8: ECONOMIC FEASIBILITY
8.1 Feasibility Study
For purposes of this Preliminary Plan, economic feasibility has been evaluated over the term of
the Zone, as shown on Appendix F (the "Feasibility Study"). This evaluation focuses on only direct
financial benefits (i.e. ad valorem tax revenues from the development of Public Improvements in
the Zone). Based on the Feasibility Study, during the term of the Zone, new development (which
would not have occurred but for the Zone) will generate approximately $14,791,929 in total new
City real property tax revenue. The City, as a participant, will benefit from the new development
within the Zone and will retain approximately $5,415,063 in net additional real property tax
revenue. The remaining additional revenue will be deposited in the TIRZ Fund to pay Project
Costs.
The Feasibility Study shows a portion of the new real property tax revenue generated by the Zone
will be retained by the City. The remainder of the new real property tax revenue generated
within the Zone will be available to pay Project Costs, up to the maximum contribution which is
estimated at $7,803,289 (the "Maximum Contribution") to be further defined in the Final Plan
and TIRZ Agreement, until the term expires or is otherwise terminated. One hundred percent
(100%) of all taxing revenues generated for other taxing entities by the new development within
the Zone will be retained by the respective taxing entities. Upon expiration or termination of the
Zone, one hundred percent (100%) of all tax revenue generated within the Zone will be retained
REINVESTMENT ZONE NO. 2, CITY OF ANNA, TEXAS 6
PRELIMINARY PROJECT AND FINANCE PLAN
by the respective taxing entities. Based on the foregoing, the feasibility of the Zone has been
demonstrated.
SECTION 9: ESTIMATED BONDED INDEBTEDNESS
No bonded indebtedness issued by the City pursuant to the Act is contemplated.
SECTION 10: APPRAISED VALUE
10.1 Current Appraised Value
The current total appraised value of taxable real property in the Zone is $, which represents
the Tax Increment Base, (the "Tax Increment Base") of the Property and is determined by the
Collin Central Appraisal District in accordance with Section 311.012(c) of the Act.
10.2 Estimated Captured Appraised Value
The amount of the Tax Increment for a year during the term of the Zone is the amount of property
taxes levied and collected by the City for that year on the captured appraised value of the
Property less the Tax Increment Base of the Property, (the "Captured Appraised Value"). The Tax
Increment Base of the Property is the total taxable value of the Property for the year in which
the Zone was designated, as described in Section 10.1 above. It is estimated that upon expiration
of the term of the Zone, the total Captured Appraised Value of taxable real property in the Zone
will be $120,814,893, as shown on Appendix F. The actual Captured Appraised Value, as certified
bythe Collin Central Appraisal District will, for each year, will be used to calculate annual payment
by the City into the TIRZ Fund pursuant to the Final Plan.
SECTION 11: METHOD OF FINANCING
Pursuant to the Subdivision Improvement Agreement, the Owner has paid, and will in the future
pay, those Project Costs attributable to the Public Improvements and will construct or cause to
be constructed the Public Improvements. The Final Plan shall obligate the City to deposit into
the TIRZ Fund each year for the duration of the Zone an amount equal to $0.375 per $100 of
Captured Appraised Value in the Zone levied and collected that constitutes the Tax Increment for
that year. The 2018 City tax rate is $0.5913 per $100 of assessed value, therefore the
contribution rate is sixty-three and thirty-nine percent (63.39%). Funds deposited into the TIRZ
Fund shall always first be applied to pay the Administrative Costs. After the Administrative Costs
have been paid, funds in the TIRZ Fund shall next be used as described above. All payments of
Project Costs shall be made solely from the TIRZ Fund and from no other funds of the City unless
otherwise approved by the governing body, and the TIRZ Fund shall only be used to pay the
Project Costs in accordance with the Final Plan and the TIRZ Agreement. The City may amend
REINVESTMENT ZONE NO. 2, CITY OF ANNA, TEXAS d
PRELIMINARY PROJECT AND FINANCE PLAN
the Final Plan in compliance with the TIRZ Agreement, including but not limited to what is
considered a Project Cost.
SECTION 12: DURATION OF THE ZONE, TERMINATION
12.1 Duration
The stated term of the Zone shall commence on the creation of the Zone, and shall continue for
thirty (30) years, with the last payment being received by September 1, 2048 unless otherwise
terminated in accordance with the TIRZ Creation Ordinance.
12.2 Termination
The Zone will terminate prior to the expiration of its stated term if the Maximum Contribution of
TIRZ revenues has been collected into the TIRZ Fund and has been distributed according to the
Final Plan. If upon expiration of the stated term of the Zone, the Maximum Contribution of TIRZ
revenues, has not been collected into the TIRZ Fund, the City shall have no obligation to pay the
shortfall and the term shall not be extended. The provisions of this section shall be included in
the TIRZ Agreement. Nothing in this section is intended to prevent the City from extending the
term of the Zone in accordance with the Act.
LIST OF EXHIBITS
Appendix A
Legal Description
Appendix B
Map
Appendix C
List of Non -Project Costs
Appendix D
List of Project Costs
Appendix E
Estimated Timeline of Incurred Costs
Appendix F
Feasibility Study
[Remainder of page intentionally left blank.]
REINVESTMENT ZONE NO. 2, CITY OF ANNA, TEXAS
PRELIMINARY PROJECT AND FINANCE PLAN
APPENDIX A - LEGAL DESCRIPTION
LEGAL DE:SCRI ON
BELNG a tract of land utmtedm the JosephBol-le Sun-ey abstract Nunber 105. W- S. Rattm S.n -ey.
Abstract lumber 752, T. Rattan Sl nvy, abstract Number 792, and the J. Coff= Sunff.:abstract
Ntmber 19 7, Collin Gamt5. Texas and being panof that tract of land descrZed in deed to CAE
Hraricane Creek, LLC, recorded in Iustmm lent Number 20150529000631020 of the Official Public
Records ofCollm Cotter, Tewas and being more particularly described as follows:
BEGMING at a 5M" iron rod found for the northeast comer of a remainder tract WBK Partners. LTD
recorders m Voh Ew 4292, Page 27 of said Official Public Records and the easternawst southeast corner
of said CADG Huincane Cre&, LLC tract;
THENCE S 88°58'27" W,1,910.63 feet with the south line of said CADG [met to a 5.'Y- iron rod with
plastic cap stmiped"PELOTW seta
THENCE departing said s uth line of the CADG Hu incane Creek, LLC tract, N 00°15'2 ' E, 42 1. 11 feet
to a 5r'8" iron rod kvith plastic cap stamped -PELOTON' set;
THENCE N 46° 1 S'49' E, 320.76 feet to a SIT' iron rod with plastic cap stamped `PELCTON' set
THENCE N 43-4l'11' W-, 120-00 feet to a 5+'8" iron rod withplastic cap stamped 'PELATO'Y' set;
THENCE S46°1 S'49" W, 117.06 feet to a ST' inm rod with plastic cap stamped "PELOTON' set
THENCE N 43.41.1. F W, 50-00 feet to a 5 - iron rod with plastic cap stamped ` PELOTON' set
THENCE N 46°1 T49" E,145_DO feet to a W iron rod with plastic cap stamped "PELOTCIIN' .set.
THENCE N 43"41.1 P W,120.00 feet to a 51r iron rood with plastic cap stamped -PELOTW' set;
THENCE N 46'1 8'49" E, 570.00 feet to a 5 T- iron rod with plastic cap stamped "PELOTON' set
THENCE N 43.4l'l 1- W,170.00 feet to a 5?S" iron rod withplastic cap staBnped --PELOTO'Y' set
THENCE N 4601 T49" E, 3.17 feet to a 518" iron rod v%ith plastic cap stamped "PEZOTON' set to the
be4ginn� of a cm7e to the right;
THENCE, vnth said ciuve to the right an are distance of 47.91 feK ihrouagh a central angle of 05°5413";
ha .iug a radnis of 465.00 feet, the long chard bears N 49° 1 T56' E, 47.89 feet to a 51'° iron rod wilh
plastic cap stamped "PELOTON : set;
THENCE N 43.41-1 I- W,1t63-79 feet to a 5/" iron rod with plastic cap stamped -PELOTCIN' set
THENCE N 46-18'49" E, 259.23 feet to a SPA' iron rod with plastic cap stamped "PELOTON' set_
THENCE N Sal' ° 1 Y07" E, 741.15 feet to a 5-W iron rod with plastic cap stampeai `PELOTON' seC.
THENCE S 23-1758"E, 16.58 feet to a 5+Y' iron rod with plastic cap stamped' PE.OTON" set;
THENCE N 89'13D7 E,140-94 feet to a 51g' iron rod with plastic cap stamped '-PELOTON' set
REINVESTMENT ZONE NO. 2, CITY OF ANNA, TEXAS
PRELIMINARY PROJECT AND FINANCE PLAN
THENCE 59°2633" E,195.37 fleet to a S.PB" iron rod whith plastic cap stamaped `PELOTON" set
THENCE N 89° 13)D7" E, 7 31-48 fleet to a 5.+'8" iron rod with plastic rap stamped -PELOTON' set
THENCE S W4653" E, 294.4.6 feet to a 5,18" iron rod i;dth plastic cap stamped ' TUOTON" set.
THENCE'N 89°13'07" E, 525-DO feetto a Y W iron rod with plastic cap stamped `PELOTON" set
THENCE. S W4653" E, 4 0 .Dit feet to a 5.18" iron rod x;,ith phmfic cap stamped ` PELOTON' set
THENCE S 89° 13YiTW,170-DO feet to a S'V iron rod vAth plastic cap stamped "PELOTON' set;
THENCE S 01°3235" W,138-83 fleet to a fK4r iron rod vithplastic cap stamped "PELOTCN' set
THENCE. S 03°5649" W, 63.28 feet to a 54" nxm and iNith plastic flap stamped TELOTON' set,
THENCE S 21MC 36" W, 64.06 feet to a 51-iron rod mth plastic cap stamped `PEL0TON' set;
THENCE S W31'32" W, fi 1.92 feet to a 51—iron mdA,ith plastic cap stud-TEL=N' set;
THENCE S 5629')4" W, 66-49 feet to a 5.1" irom rodad ihith plastic cap stamped--PELOTON-'set;
THENCE S 55° 11'09" Fd, 70-72 feet to a 54B" iron rodihith plastic cap stamped "PELOTON' set;
THENCE S 33°0712" E, 131.90 feet to a 5.1' iron rod t;,ith plasrde cap stamped "PELOTON' set;
THENCE. S 36° 16"47" E, 50.00 feet to a 50'iron rod with plastic cap gtmped ` PEL.OTON' set;
THENCE S 53°43'13' W-,1.72 feet to a Sig" iron rod mAth plastic cap stamped '`PELOTON" seta
THENCE S 363164T' E, 163.61 feet to a A' Tram rod x;ith plastic cap stamped ` TUOTON' set in the
east line of said C.ADG Hsaricane Cte&, LLC. Tract at the begmni of a canine to the ri*,
THENCE with said mmT to the right m arc distance of 61-57 feet through an angle of 05°02'21", hal mg
a radius of 700.00 feet. and a long chord which bears S 504435"'A 6L55 feet to -a 5Y, iron rod r2th
plastic cap stamped`PEL.OTW set
THE'_\CE S 59-015 Y W, 294-65 fleet to a +8 iron rod with plastic cap stamped -TELOTON' set:
THENCE S 8T21'12- W, 420-50 feet to a 5,'&" iron rod Aith plastic cap stamped -PELOTON' set
THENCE S 0103110" E, 184.67 feet to the PONT OF BEOLNNING and combining 4,015,625 square
feet or 92.186 acres ofland-more or less.
REINVESTMENT ZONE NO. 2, CITY OF ANNA, TEXAS 10
PRELIMINARY PROJECT AND FINANCE PLAN
APPENDIX ■ - MAP
Mmoll ig - ,
E I ; I IN,
TIRZ No. 2
l'ir!ll PELOTON
1 I LAND &OLI1TION&
TIRZ No. 2 MAP
VILLAGES CAE
HURRICANE CREEK
PHASE #�1 1 6
GRAPHIC SCALE �N FEET
REINVESTMENT ZONE NO. 2, CITY OF ANNA, TEXAS 11
PRELIMINARY PROJECT AND FINANCE PLAN
APPENDIX C - LIST OF NON -PROJECT COSTS
Major Improvements(')
Street
Water
Sanitary Sewer
Developer District Formation Expenses
Geotechnical testing, SWPPP, Flood Study
Total Non -Project Costs
Footnotes:
$
1,400,925
$
380,448
$
1,217,219
$
597,350
$
148,984
$
3,744,926
$ 3,744,926
(')Major Improvements will provide benefit to Property within the Zone as well
as property outside of the Zone.
REINVESTMENT ZONE NO. 2, CITY OF ANNA, TEXAS 12
PRELIMINARY PROJECT AND FINANCE PLAN
APPENDIX D - LIST OF PROJECT COSTS
Public Improvements
Street
Water
Sanitary Sewer
Storm Drainage
Street Lights/Hike & Bike Trail
Administrative Costs
$
2,701,765
838,296
714,688
647,921
463,943
(1) $
5,366,613
$
202,840
(2) $
202,840
Total Project Costs (3) = (1) + (2) $ 5,569,453
Footnotes:
(')Cost per the Engineer's Estimate of Probable Cost provided by Peloton Land Solutions as of
December 3, 2018.
REINVESTMENT ZONE NO. 2, CITY OF ANNA, TEXAS
PRELIMINARY PROJECT AND FINANCE PLAN
13
APPENDIX E - ESTIMATED TIMELINE OF INCURRED COSTS
Public Improvement Costs
$ 2,683,307
$ 2,683,307
$
- $
- $
- $ -
Administrative Costs
$ 5,000
$ 5,100
$
5,202 $
5,306 $
5,412 $ 5,520
Total
$ 2,688,307
$ 2,688,407
$
5,202 $
5,306 $
5,412 $ 5,520
REINVESTMENT ZONE NO. 2, CITY OF ANNA, TEXAS
14
PRELIMINARY PROJECT AND FINANCE PLAN
APPENDIX F - FEASIBILITY STUDY
Sim ple
Gross Base Value: $
Exempt Property Value: Net Base Value:
-
Tax Increment
City
701w%
Allocation
TI RZ
Year
No.
1
Year
2019
New
Growth/ Assessed
Year Value
2.0% -
Net Taxable
Value
-
Incremental
Value
-
Annual
City Tax Incremental
Rate City
0.591300
Incremental
Taxes
-
Cumulative
City Taxes
-
%
Retained
36.6%
Annual
-
Cumulative
-
%
Retained
63.4%
Annual
-
Cumulative
-
Unreimbursed
Project Admin
Costs Costs
2,683,307 5,000
Project Costs
@ 6.96%
186,758
Project Costs,
Admin Costs,
and Interest
2,875,065
Project Costs, plusinterest
including Reimbursed
interest
-
[a]
-
2
2020
2.0% 23,248,000
23,248,000
23,248,000
0.591300
-
-
36.6%
-
-
63.4%
-
-
2,683,307 5,100
373,516
5,936,987
5,926,887
-
3
2021
2.0% 23,712,960
47,425,920
47,425,920
0.591300
137,465
137,465
36.6%
50,324
50,324
63.4%
87,142
87,142
- 5,202
367,451
6,309,641
6,207,197
87,142
4
2022
2.0% 23,822,039
72,196,477
72,196,477
0.591300
280,429
417,895
36.6%
102,660
152,984
63.451
177,769
264,911
- 5,306
355,078
6,670,025
6,384,506
177,769
5
2023
2.091 -
73,640,407
73,640,407
0.591300
426,898
844,793
36.6%
156,280
309,264
63.4%
270,618
535,529
- 5,412
336,975
7,012,412
6,461,371
260,110
6
2024
2.0% -
75,113,215
75,113,215
0.591300
435,436
1,280,228
36.691
159,405
468,669
63.4%
276,030
811,559
- 5,520
318,871
7,336,804
6,520,133
260,110
7
2025
2.01% -
76,615,479
76,615,479
0.591300
444,144
1,724,373
36.6%
162,593
631,262
63.451
281,551
1,093,110
- 5,631
300,768
7,643,202
6,560,791
260,110
8
2026
2.0% -
78,147,789
78,147,789
0.591300
453,027
2,177,400
36.6%
165,845
797,108
63.4%
287,182
1,380,293
- 5,743
282,664
7,931,609
6,583,345
260,110
9
2027
2.091 -
79,710,745
79,710,745
0.591300
462,088
2,639,488
36.691
169,162
966,270
63.491
292,926
1,673,218
- 5,858
264,560
8,202,028
6,587,796
260,110
10
2028
2.01/6 -
81,304,959
81,304,959
0.591300
471,330
3,110,818
36.6%
172,545
1,138,815
63.4%
298,794
1,972,002
- 5,975
246,457
8,454,460
6,574,143
260,110
11
2029
2.01% -
82,931,059
82,931,059
0.591300
480,756
3,591,574
36.6%
175,996
1,314,812
63.4%
304,760
2,276,762
- 6,095
228,353
8,688,908
6,542,386
260,110
12
2030
2.0% -
84,589,680
84,589,680
0.591300
490,371
4,081,945
36.6%
179,516
1,494,328
63.451
310,855
2,587,617
- 6,217
210,249
8,905,375
6,492,526
260,110
13
2031
2.0% -
86,281,473
86,281,473
0.591300
500,179
4,582,124
36.6%
183,107
1,677,434
63.4%
317,072
2,904,690
- 6,341
192,146
9,103,862
6,424,562
260,110
14
2032
2.01/6 -
88,007,103
98,007,103
0.591300
510,182
5,092,306
36.691
186,769
1,864,203
63.4%
323,414
3,228,103
- 6,469
174,042
9,284,372
6,338,495
260,110
15
2033
2.0% -
89,767,245
89,767,245
0.591300
520,386
5,612,692
36.6%
190,504
2,054,707
63.4%
329,882
3,557,985
- 6,597
155,939
9,446,908
6,234,324
260,110
16
2034
2.0% -
91,562,590
91,562,590
0.591300
530,794
6,143,486
36.6%
194,314
2,249,021
63.491
336,480
3,894,465
- 6,729
137,835
9,591,472
6,112,049
260,110
17
2035
2.0% -
93,393,942
93,393,842
0.591300
541,410
6,684,896
36.6%
198,200
2,447,222
63.491
343,209
4,237,674
- 6,864
119,731
9,718,067
5,971,671
260,110
18
2036
2.091 -
95,261,718
95,261,718
0.591300
552,238
7,237,133
36.6%
202,164
2,649,386
63.4%
350,073
4,587,747
- 7,001
101,628
9,826,696
5,813,189
260,110
19
2037
2.01% -
97,166,953
97,166,953
0.591300
563,283
7,800,416
36.6%
206,208
2,855,594
63.45.
357,075
4,944,822
- 7,141
83,524
9,917,361
5,636,603
260,110
20
2038
2.0% -
99,110,292
99,110,292
0.591300
574,548
8,374,964
36.6%
210,332
3,065,926
63.4%
364,216
5,309,038
- 7,284
65,420
9,990,066
5,441,914
260,110
21
2039
2.0% -
101,092,498
101,092,498
0.591300
586,039
8,961,003
36.6%
214,539
3,280,465
63.4%
371,501
5,690,539
- 7,430
47,317
10,044,812
5,229,121
260,110
22
2040
2.091 -
103,114,348
103,114,348
0.591300
597,760
9,558,763
36.6%
218,829
3,499,294
63.4%
378,931
6,059,469
- 7,578
29,213
10,081,604
4,998,224
260,110
23
2041
2.09/ -
105,176,635
105,176,635
0.591300
609,715
10,168,478
36.6%
223,206
3,722,500
63.451
386,509
6,445,979
- 7,730
11,109
10,100,443
4,749,224
260,110
24
2042
2.0% -
107,280,167
107,280,167
0.591300
621,909
10,790,388
36.691
227,670
3,950,170
63.451
394,239
6,840,218
- 7,884
-
10,108,327
4,489,115
260,110
25
2043
2.0% -
109,425,771
109,425,771
0.591300
634,348
11,424,735
36.6%
232,223
4,182,393
63.4%
402,124
7,242,342
- 8,042
-
10,116,370
4,229,005
260,110
26
2044
2.091 -
111,614,286
111,614,286
0.591300
647,035
12,071,770
36.6%
236,868
4,419,261
63.4%
410,167
7,652,509
- 8,203
-
10,124,573
3,968,895
260,110
27
2045
2.091 -
113,846,572
113,846,572
0.591300
659,975
12,731,745
36.6%
241,605
4,660,867
63.45/
418,370
8,070,879
- 8,367
-
10,132,940
3,708,786
260,110
28
2046
2.0% -
116,123,503
116,123,503
0.591300
673,175
13,404,920
36.6%
246,437
4,907,304
63.4%
426,737
8,497,616
- 8,534
-
10,141,474
3,448,676
260,110
29
2047
2.0% -
118,445,973
118,445,973
0.591300
686,638
14,091,558
36.6%
251,366
5,158,670
63.451
435,272
8,932,888
- 8,705
-
10,150,179
3,188,566
260,110
30
2048
2.0%
120,814,893
120,814,893
10.591300
700,371
14,791,929
1 36.6%
256,393
5,415,063
1 63.4%
443,978
9,376,866
8,879
-
10,159,059
2,928,457
260, 110
5,366,613 202,940
4,589,605
7,027,761
[a] Annual
rei mbu rsement from the Zone is capped
pursuant to the
terms of the TI RZ Agreement.
r�
REINVESTMENT
ZONE NO.
2, CITY OF ANNA,
TEXAS
15
PRELIMINARY PROJECT
AND FINANCE PLAN