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HomeMy WebLinkAboutRes 2025-05-1776 Creating the Landing Public Improvement District RECORDEDCERTIFICATE FOR RESOLUTION 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 May 13, 2025, at the regular designated meeting place, and the roll was called of the duly constituted officers and members of the Council, to wit: Pete Cain, Mayor Stan Carver II, Mayor Pro Tern Elden Baker, Deputy Mayor Pro-Tem Kevin Toten, Council Member Ryan Henderson, City Manager Lee Miller, Council Member Jody Bills, Council Member Kelly Patterson -Herndon, Council Member Carrie Land, City Secretary and all of said persons were present, except Kt,91P -n c.so - N c ncla n, thus constituting a quorum. Whereupon, among of r business the following was transacted at said meeting: a written A RESOLUTION REGARDING THE CREATION OF THE LANDING PUBLIC IMPROVEMENT DISTRICT AND ORDERING PUBLIC IMPROVEMENTS TO BE MADE FOR THE BENEFIT OF SUCH DISTRICT; PROVIDING FOR A SEVERABILITY CLAUSE; PROVIDING AN EFFECTIVE DATE; AND CONTAINING OTHER MATTERS RELATING TO THE SUBJECT. was duly introduced for the consideration of the Council. It was then duly moved and seconded that said Resolution be passed; and, after due discussion, said motion, carrying with it the passage of said Resolution, prevailed and carried, with all members of the Council shown present above voting "Aye," except as noted below: NAYS: ABSTENTIONS: 2. A true, full, and correct copy of the aforesaid Resolution passed at the meeting described in the above and foregoing paragraph is attached to and follows this Certificate; said Resolution 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 Resolution; 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 Resolution 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 Resolution; and the Mayor (or Mayor Pro Tem) and City Secretary hereby declare that their signing of this certificate shall constitute the signing of the attached and following copy of said Resolution for all purposes. SIGNED AND SEALED ON MAY 13, 2025. ATTEST: etw�) C�, ��Zz� Carrie L. Land, Ci Secr tart' Pete C in, Mayor 0 *( THE CITY OF*� SEAL manna ( ) Signature Page to a Certificate for A RESOLUTION REGARDING THE CREATION OF THE LANDING PUBLIC IMPROVEMENT DISTRICT AND ORDERING PUBLIC IMPROVEMENTS TO BE MADE FOR THE BENEFIT OF SUCH DISTRICT; PROVIDING FOR A SEVERABILITY CLAUSE; PROVIDING AN EFFECTIVE DATE; AND CONTAINING OTHER MATTERS RELATING TO THE SUBJECT. CITY OF ANNA, TEXAS RESOLUTION NO. 2025-05- j 11b A RESOLUTION REGARDING THE CREATION OF THE LANDING PUBLIC IMPROVEMENT DISTRICT AND ORDERING PUBLIC IMPROVEMENTS TO BE MADE FOR THE BENEFIT OF SUCH DISTRICT; PROVIDING FOR A SEVERABILITY CLAUSE; PROVIDING AN EFFECTIVE DATE; AND CONTAINING OTHER MATTERS RELATING TO THE SUBJECT. WHEREAS, the City of Anna, Texas (the "City") is authorized by Chapter 372, Texas Local Government Code, as amended (the "Act") to create a public improvement district and to levy special assessments against property within the district to pay the costs of public improvement projects that confer a special benefit on property within the district; WHEREAS, on March 3, 2025, there was submitted to and filed with the City Secretary of the City (the "City Secretary") pursuant to the Act that certain "Petition to Establish The Landing Public Improvement District" (the "Petition") requesting the establishment of a public improvement district covering approximately 82.55 acres located within the City as described in the Petition and Exhibit A attached hereto (the "Property"), and to be known as the "The Landing Public Improvement District" (the "District"); WHEREAS, the City Council of the City (the "City Council") received the Petition and determined that it satisfied the requirements of the Act; WHEREAS, after providing the notices required by the Act and by the Texas Open Meetings Act, Chapter 551, Texas Government Code, as amended, the City Council opened and conducted a public hearing on May 13, 2025, to determine the advisability of creating and establishing the District and undertaking the public improvement projects described in the Petition; WHEREAS, all owners of the Property located within the District and all other interested persons were given the opportunity at such public hearing to speak for or against the creation of the District and the proposed public improvements; and WHEREAS, the City Council has made findings based on the information contained in the Petition presented to the City Council and any comments received at the public hearing. NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ANNA, TEXAS: Section 1. The City Council hereby approves the statements contained in the preamble of this Resolution and finds that all statements are true and correct and incorporate the same in the body of this Resolution. Section 2. The City Council, after considering the Petition and the evidence and testimony presented at the public hearing, hereby finds and determines that: (a) the Petition was filed with the City Secretary and was signed by owners of taxable real property representing more than fifty percent (50%) of the appraised value of taxable real property liable for assessment under the proposal, as determined by the current appraisal roll of the appraisal district in which the property is located, and by the record owners of real property liable for assessment under the proposal who own taxable real property that constitutes more than fifty percent (50%) of the area of all real property that is liable for assessment under the proposal; (b) the proposed public improvements described in the Petition are of the nature of the public improvements described in Section 372.003 of the Act and are advisable and desirable improvements for the District; (c) the proposed public improvements will promote the interests of the City and are of the nature that will confer a special benefit on the Property within the District by enhancing the value of such Property located within the District; (d) the general nature of the proposed public improvements and estimated costs thereof are set forth and described in Exhibit B attached hereto and made a part hereof for all purposes; (e) the boundaries of the District include all of the Property that is set forth and described in Exhibit A attached hereto and made a part hereof for all purposes; (f) the assessment of costs of the proposed improvements will be levied on each parcel of property within the District in a manner that results in imposing equal shares of the costs on property similarly benefitted; (g) the costs of the improvements shall be apportioned between the District and City such that all such costs are paid from the assessments levied on the Property within the District and other sources available to the owners and developers of the Property within the District, as further described in Exhibit B; and (h) the District shall be managed without the creation of an advisory body. Section 3. Based on the foregoing, the District is hereby created as a public improvement district under the Act in accordance with the findings of the City Council as to the advisability of the public improvements described in Exhibit B, the nature and the estimated costs of the public improvements, the boundaries of the District, the method of assessment, and the apportionment of costs as described herein, which are authorized to be made in accordance with the service and assessment plan to be approved by the City Council. Section 4. The City Council hereby authorizes and directs the City Secretary, on or before May 20, 2025, in accordance with the Act, to file this Resolution with the County Clerk of Collin County, Texas. Section 5. If any section, article, paragraph, sentence, clause, phrase or word in this resolution or application thereof to any persons or circumstances is held invalid or unconstitutional by a court of competent jurisdiction, such holding shall not affect the validity of the remaining portions of this resolution; and the City Council hereby declares it would have passed such remaining portions of the resolution despite such invalidity, which remaining portions shall remain in full force and effect. Section 6. This Resolution has been approved by majority vote of all members of the City Council and constitutes the improvement order establishing and creating the District in accordance with the Act. Section 7. This Resolution shall take effect immediately from and after the date of its passage in accordance with law. PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF ANNA, TEXAS, THIS 13TH DAY OF MAY, 2025. 2Z, Pete(fain, Mayor ATTEST: Carrie L. Land, Cityecretary EXHIBIT A LEGAL DESCRIPTION OF THE TRACT Being an 82.55 acre tract of land out of the J.C. Brantley Survey, Abstract No. 114, situated in the City of Anna, Collin County, Texas, being a portion of a called 117.10 acre tract of land conveyed to 3 Monkeys, LLC by deed of record in Document Number 2023000058344 of the Official Public Records of Collin County, Texas, and being more particularly described by metes and bounds as follows: COMMENCING at a 5/8 inch iron rod with pink plastic cap stamped "TXDOT ROW' found in the West right-of-way line of State Highway 5 (right-of-way width varies), also being in the North line of Open Space #1 of Meadow Ridge Estates, Phase One, a subdivision of record in Cabinet P, Page 63 of the Plat Records of Collin County, Texas, being the Southwest coiner of a called Parcel 280 - 0.7575 acre tract of land conveyed to The State of Texas by deed of record in Document Number 20190508000513540 of said Official Public Records; THENCE, S89°48'52"W, leaving the West right-of-way line of State Highway 5, along the South line of said 117.10 acre tract, being in part, the common North line of said Meadow Ridge Estates, Phase One, and in part, the common North line of Meadow Ridge Estates, Phase Two, a subdivision of record in Cabinet R, Page 196 of said Plat Records, a distance of 1,517.49 feet to a 1/2 inch iron rod with green plastic cap stamped "EAGLE SURVEYING" set for the POINT OF BEGINNING; THENCE, continuing along the irregular South line of said 117.10 acre tract, being in part, the common North and West lines of said Meadow Ridge Estates, Phase Two, and in part, the common North line of Shadowbend, Phase 2, a subdivision of record in Volume 2022, Page 780 of said Plat Records, the following three (3) courses and distances: 1. S89°48'52"W, a distance of 238.22 feet to a 3 inch metal fence post found; 2. S09°22'08"E, a distance of 816.23 feet to a 1/2 inch iron rod with yellow plastic cap stamped "FORESIGHT" found; 3. N88°37'18"W, a distance of 1,726.94 feet to a 1/2 inch iron rod with yellow plastic cap stamped "PAPE DAWSON" found in the East line of a called 58.637 acre tract of land conveyed to MCI Exchange Anacapri A Series Depositor, LLC by deed of record in Document Number 2023000111060 of said Official Public Records, also being in County Road 369, also being the Southwest comer of said 117.10 acre tract and the Northwest comer of said Shadowbend, Phase 2; THENCE, NO1 °29'42"E, along County Road 369 and the East line of said 58.637 acre tract, being the common West line of said 117.10 acre tract, a distance of 2,035.03 feet to a mag nail set at the intersection of County Road 369 and County Road 371, being the Northeast corner of said 58.637 acre tract and the Northwest corner of said 117.10 acre tract; THENCE, S88023'05"E, along County Road 371 and the North line of said 117.10 acre tract, a distance of 2,813.64 feet to a mag nail set at the intersection of County Road 371 and the West right-of-way line of State Highway 5, being the Northwest corner of said Parcel 280; THENCE, S22-11'36"E, along the West right-of-way line of State Highway 5, being the common West line of said Parcel 280, a distance of 49.19 feet to a 1/2 inch iron rod with green plastic cap stamped "EAGLE SURVEYING" set; THENCE, leaving the West right-of-way line of State Highway 5, over and across said 117.10 acre tract, the following two (2) courses and distances: 1. N88°23'05"W, a distance of 1,019.64 feet to a 1/2 inch iron rod with green plastic cap stamped "EAGLE SURVEYING" set; 2. S01 °37'I1 "W, a distance of 1,174.11 feet to the POINT OF BEGINNING, and containing an area of 82.55 acres (3,596,090 square feet) of land, more or less. EXHIBIT B PROPOSED IMPROVEMENTS AND ESTIMATED COSTS Nature of the Authorized Improvements: The general nature of the proposed public improvements may include (a) acquisition, construction and improvements, and maintenance of the improvements, consisting of (i) street and roadway improvements, including related sidewalks, drainage, utility relocation, signalization, landscaping, lighting, signage, off-street parking and right-of-way; (ii) establishment or improvement of parks and open space, together with the design, construction of any ancillary structures, features or amenities such as trails, playgrounds, walkways, lighting and any similar items located therein; (iii) sidewalks and landscaping, including entry monuments and features, fountains, lighting and signage; (iv) acquisition, construction, and improvement of water, wastewater and drainage improvements and facilities and facilities related thereto; (v) acquisition of real property, interests in real property, or contract rights in connection with the Authorized Improvements (as defined below); (vi) payment of costs, including, without limitation, design, engineering, permitting, legal, required payment, performance and maintenance bonds, bidding, support, construction, construction management, administrative and inspection costs, associated with developing and financing the public improvements listed in (i) through (v) above; (vii) projects similar to those listed in subsections (i) - (v) above or authorized by the Act, including similar off -site projects that provide a benefit to the property within the District; (viii) any additional improvement projects authorized in the Act; (ix) payment of costs associated with special supplemental services for improvement and promotion of the District as approved by the City including services related to advertising, promotion, health and sanitation, water and wastewater, public safety, security, business recruitment, development, recreation, and cultural enhancement; and (x) payment of costs associated with developing and financing the public improvements listed in (i) - (ix) above, as well as the interest, costs of issuance, reserve funds, or credit enhancement of bonds issued for the purposes described in (i) through (ix) above, and costs of establishing, administering and operating the District (collectively, the "Authorized Improvements"); and (b) the payment of expenses incurred in the establishment, administration, and operation of the District, including maintenance costs, costs of issuance, funding debt service and capitalized interest reserves and credit enhancement fees of any bonds issued by or on behalf of the District, if necessary. These Authorized Improvements shall promote the interests of the City and confer a special benefit upon the Property. Estimated Costs of the Authorized Improvements and Apportionment of Costs: The estimated total costs of the Authorized Improvements is $25,000,000.00, which costs shall be paid by assessment of the property owners within the proposed District. The City will not be obligated to provide any funds to finance the Authorized Improvements, other than from assessments levied on the Property. The developer of the property (the "Developer") may also pay certain costs of the Authorized Improvements from other funds available to the Developer. 2025 - 2025000060283 05/15/2025 09.36 AM Page 1 of 7 CITY OF ANNA, TEXAS RESOLUTION NO.2025-05-1776 A RESOLUTION REGARDING THE CREATION OF THE LANDING PUBLIC IMPROVEMENT DISTRICT AND ORDERING PUBLIC IMPROVEMENTS TO BE MADE FOR THE BENEFIT OF SUCH DISTRICT; PROVIDING FOR A SEVERABILITY CLAUSE; PROVIDING AN EFFECTIVE DATE; AND CONTAINING OTHER MATTERS RELATING TO THE SUBJECT. WHEREAS, the City of Anna, Texas (the "City") is authorized by Chapter 372, Texas Local Government Code, as amended (the "Act") to create a public improvement district and to levy special assessments against property within the district to pay the costs of public improvement projects that confer a special benefit on property within the district; WHEREAS, on March 3, 2025, there was submitted to and filed with the City Secretary of the City (the "City Secretary") pursuant to the Act that certain "Petition to Establish The Landing Public Improvement District" (the "Petition") requesting the establishment of a public improvement district covering approximately 82.55 acres located within the City as described in the Petition and Exhibit A attached hereto (the "Property"), and to be known as the "The Landing Public Improvement District" (the "District"); WHEREAS, the City Council of the City (the "City Council") received the Petition and determined that it satisfied the requirements of the Act; WHEREAS, after providing the notices required by the Act and by the Texas Open Meetings Act, Chapter 551, Texas Government Code, as amended, the City Council opened and conducted a public hearing on May 13, 2025, to determine the advisability of creating and establishing the District and undertaking the public improvement projects described in the Petition; WHEREAS, all owners of the Property located within the District and all other interested persons were given the opportunity at such public hearing to speak for or against the creation of the District and the proposed public improvements; and WHEREAS, the City Council has made findings based on the information contained in the Petition presented to the City Council and any comments received at the public hearing. NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ANNA, TEXAS: Section 1. The City Council hereby approves the statements contained in the preamble of this Resolution and finds that all statements are true and correct and incorporate the same in the body of this Resolution. Section 2. The City Council, after considering the Petition and the evidence and testimony presented at the public hearing, hereby finds and determines that: (a) the Petition was filed with the City Secretary and was signed by owners of taxable real property representing more than fifty percent (50%) of the appraised value of taxable real property liable for assessment under the proposal, as determined by the current appraisal roll of the appraisal district in which the property is located, and by the record owners of real property liable for assessment under the proposal who own taxable real property that constitutes 2025 - 2025000060283 05/15/2025 09.36 AM Page 2 of 7 more than fifty percent (50%) of the area of all real property that is liable for assessment under the proposal; (b) the proposed public improvements described in the Petition are of the nature of the public improvements described in Section 372.003 of the Act and are advisable and desirable improvements for the District; (c) the proposed public improvements will promote the interests of the City and are of the nature that will confer a special benefit on the Property within the District by enhancing the value of such Property located within the District; (d) the general nature of the proposed public improvements and estimated costs thereof are set forth and described in Exhibit B attached hereto and made a part hereof for all purposes; (e) the boundaries of the District include all of the Property that is set forth and described in Exhibit A attached hereto and made a part hereof for all purposes; (f) the assessment of costs of the proposed improvements will be levied on each parcel of property within the District in a manner that results in imposing equal shares of the costs on property similarly benefitted; (g) the costs of the improvements shall be apportioned between the District and City such that all such costs are paid from the assessments levied on the Property within the District and other sources available to the owners and developers of the Property within the District, as further described in Exhibit B; and (h) the District shall be managed without the creation of an advisory body. Section 3. Based on the foregoing, the District is hereby created as a public improvement district under the Act in accordance with the findings of the City Council as to the advisability of the public improvements described in Exhibit B, the nature and the estimated costs of the public improvements, the boundaries of the District, the method of assessment, and the apportionment of costs as described herein, which are authorized to be made in accordance with the service and assessment plan to be approved by the City Council. Section 4. The City Council hereby authorizes and directs the City Secretary, on or before May 20, 2025, in accordance with the Act, to file this Resolution with the County Clerk of Collin County, Texas. Section 5. If any section, article, paragraph, sentence, clause, phrase or word in this resolution or application thereof to any persons or circumstances is held invalid or unconstitutional by a court of competent jurisdiction, such holding shall not affect the validity of the remaining portions of this resolution; and the City Council hereby declares it would have passed such remaining portions of the resolution despite such invalidity, which remaining portions shall remain in full force and effect. Section 6. This Resolution has been approved by majority vote of all members of the City Council and constitutes the improvement order establishing and creating the District in accordance with the Act. Section 7. This Resolution shall take effect immediately from and after the date of its passage in accordance with law. 2025 - 2025000060283 05/15/2025 09.36 AM Page 3 of 7 PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF ANNA, TEXAS, THIS 13TH DAY OF MAY, 2025. Pete Gain, Mayor ATTEST: Carrie L. Land, City ecretary 2025 - 2025000060283 05/15/2025 09.36 AM Page 4 of 7 EXHIBIT A LEGAL DESCRIPTION OF THE TRACT Being an 82.55 acre tract of land out of the J.C. Brantley Survey, Abstract No. 114, situated in the City of Anna, Collin County, Texas, being a portion of a called 117.10 acre tract of land conveyed to 3 Monkeys, LLC by deed of record in Document Number 2023000058344 of the Official Public Records of Collin County, Texas, and being more particularly described by metes and bounds as follows: COMMENCING at a 5/8 inch iron rod with pink plastic cap stamped "TXDOT ROW' found in the West right-of-way line of State Highway 5 (right-of-way width varies), also being in the North line of Open Space #1 of Meadow Ridge Estates, Phase One, a subdivision of record in Cabinet P, Page 63 of the Plat Records of Collin County, Texas, being the Southwest comer of a called Parcel 280 - 0.7575 acre tract of land conveyed to The State of Texas by deed of record in Document Number 20190508000513540 of said Official Public Records; THENCE, S89°48'52"W, leaving the West right-of-way line of State Highway 5, along the South line of said 117.10 acre tract, being in part, the common North line of said Meadow Ridge Estates, Phase One, and in part, the common North line of Meadow Ridge Estates, Phase Two, a subdivision of record in Cabinet R, Page 196 of said Plat Records, a distance of 1,517.49 feet to a 1/2 inch iron rod with green plastic cap stamped "EAGLE SURVEYING" set for the POINT OF BEGINNING; THENCE, continuing along the irregular South line of said 117.10 acre tract, being in part, the common North and West lines of said Meadow Ridge Estates, Phase Two, and in part, the common North line of Shadowbend, Phase 2, a subdivision of record in Volume 2022, Page 780 of said Plat Records, the following three (3) courses and distances: 1. S89°48'52"W, a distance of 238.22 feet to a 3 inch metal fence post found; 2. S09°22'08"E, a distance of 816.23 feet to a 1/2 inch iron rod with yellow plastic cap stamped "FORESIGHT" found; 3. N88°37'18"W, a distance of 1,726.94 feet to a 1/2 inch iron rod with yellow plastic cap stamped "PAPE DAWSON" found in the East line of a called 58.637 acre tract of land conveyed to MCI Exchange Anacapri A Series Depositor, LLC by deed of record in Document Number 2023000111060 of said Official Public Records, also being in County Road 369, also being the Southwest comer of said 117.10 acre tract and the Northwest comer of said Shadowbend, Phase 2; THENCE, NO1°29'42"E, along County Road 369 and the East line of said 58.637 acre tract, being the common West line of said 117.10 acre tract, a distance of 2,035.03 feet to a mag nail set at the intersection of County Road 369 and County Road 371, being the Northeast corner of 2025 - 2025000060283 05/15/2025 09.36 AM Page 5 of 7 said 5 8.63 7 acre tract and the Northwest corner of said 117.10 acre tract; THENCE, S88°23'05"E, along County Road 371 and the North line of said 117.10 acre tract, a distance of 2,813.64 feet to a mag nail set at the intersection of County Road 371 and the West right-of-way line of State Highway 5, being the Northwest corner of said Parcel 280; THENCE, S22-11'36"E, along the West right-of-way line of State Highway 5, being the common West line of said Parcel 280, a distance of 49.19 feet to a 1/2 inch iron rod with green plastic cap stamped "EAGLE SURVEYING" set; THENCE, leaving the West right-of-way line of State Highway 5, over and across said 117.10 acre tract, the following two (2) courses and distances: 1. N88°23'05"W, a distance of 1,019.64 feet to a 1/2 inch iron rod with green plastic cap stamped "EAGLE SURVEYING" set; 2. SO1 °37'I1 "W, a distance of 1,174.11 feet to the POINT OF BEGINNING, and containing an area of 82.55 acres (3,596,090 square feet) of land, more or less. 2025 - 2025000060283 05/15/2025 09.36 AM Page 6 of 7 EXHIBIT B PROPOSED IMPROVEMENTS AND ESTIMATED COSTS Nature of the Authorized Improvements: The general nature of the proposed public improvements may include (a) acquisition, construction and improvements, and maintenance of the improvements, consisting of (i) street and roadway improvements, including related sidewalks, drainage, utility relocation, signalization, landscaping, lighting, signage, off-street parking and right-of-way; (ii) establishment or improvement of parks and open space, together with the design, construction of any ancillary structures, features or amenities such as trails, playgrounds, walkways, lighting and any similar items located therein; (iii) sidewalks and landscaping, including entry monuments and features, fountains, lighting and signage; (iv) acquisition, construction, and improvement of water, wastewater and drainage improvements and facilities and facilities related thereto; (v) acquisition of real property, interests in real property, or contract rights in connection with the Authorized Improvements (as defined below); (vi) payment of costs, including, without limitation, design, engineering, permitting, legal, required payment, performance and maintenance bonds, bidding, support, construction, construction management, administrative and inspection costs, associated with developing and financing the public improvements listed in (i) through (v) above; (vii) projects similar to those listed in subsections (i) - (v) above or authorized by the Act, including similar off -site projects that provide a benefit to the property within the District; (viii) any additional improvement projects authorized in the Act; (ix) payment of costs associated with special supplemental services for improvement and promotion of the District as approved by the City including services related to advertising, promotion, health and sanitation, water and wastewater, public safety, security, business recruitment, development, recreation, and cultural enhancement; and (x) payment of costs associated with developing and financing the public improvements listed in (i) - (ix) above, as well as the interest, costs of issuance, reserve funds, or credit enhancement of bonds issued for the purposes described in (i) through (ix) above, and costs of establishing, administering and operating the District (collectively, the "Authorized Improvements"); and (b) the payment of expenses incurred in the establishment, administration, and operation of the District, including maintenance costs, costs of issuance, funding debt service and capitalized interest reserves and credit enhancement fees of any bonds issued by or on behalf of the District, if necessary. These Authorized Improvements shall promote the interests of the City and confer a special benefit upon the Property. Estimated Costs of the Authorized Improvements and Apportionment of Costs: The estimated total costs of the Authorized Improvements is $25,000,000.00, which costs shall be paid by assessment of the property owners within the proposed District. The City will not be obligated to provide any funds to finance the Authorized Improvements, other than from assessments levied on the Property. The developer of the property (the "Developer") may also pay certain costs of the Authorized Improvements from other funds available to the Developer. 05/15/2025 9:39 AM Page 7 of 7 Collin County Honorable Stacey Kemp Collin County Clerk Instrument Number: 2025000060283 eRecording - Real Property 1:7�Y�A4INLI Recorded On: May 15, 2025 09:36 AM Number of Pages: 7 " Examined and Charged as Follows: " Total Recording: $45.00 *********** THIS PAGE IS PART OF THE INSTRUMENT *********** Any provision herein which restricts the Sale, Rental or use of the described REAL PROPERTY because of color or race is invalid and unenforceable under federal law. File Information: Document Number: Receipt Number: 2025000060283 20250515000228 Recorded Date/Time: May 15, 2025 0936 AM User: Kacy M Station: cck074 STATE OF TEXAS COUNTY OF COLLIN Record and Return To: CSC I hereby certify that this Instrument was FILED In the File Number sequence on the date/time printed hereon, and was duly RECORDED in the Official Public Records of Collin County, Texas. Honorable Stacey Kemp Collin County Clerk Collin County, TX