HomeMy WebLinkAboutOrdinance No. 2023-31ORDINANCE NO. 2023-31
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF FRIENDSWOOD,
TEXAS, DESIGNATING A CONTIGUOUS GEOGRAPHIC AREA WITHIN THE
CITY AS A REINVESTMENT ZONE PURSUANT TO CHAPTER 311 OF THE
TEXAS TAX CODE, TO BE KNOWN AS REINVESTMENT ZONE NUMBER
ONE, CITY OF FRIENDSWOOD; 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 A
SEVERABILITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE.
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WHEREAS, the City of Friendswood, 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
or within the extraterritorial jurisdiction 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 of Friendswood (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"), which exhibits are incorporated herein for all intents and purposes; and
WHEREAS, pursuant to and as required by the Act, the City has prepared a Preliminary
Reinvestment Zone Project Plan and Financing Plan for Reinvestment Zone Number One, City of
Friendswood, dated December 4, 2023, attached as Exhibit "C" (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 November 22, 2023, which date is on or before the
seventh (7a') day before the public hearing held on December 4, 2023; and
WHEREAS, on December 4, 2023, 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
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 December 4, 2023; 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 Act 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 (30%); 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 FRIENDSWOOD, STATE
OF TEXAS:
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:
1. It is a geographic area located wholly within the City;
2. The area is predominately open, undeveloped or underdeveloped, and the lack
of necessary public improvements impairs sound growth of the City;
(d) That thirty percent (30%) or less of the property in the proposed reinvestment zone,
excluding property dedicated to public use, is currently used for residential purposes;
(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 fifty
percent (50%) 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 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;
(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;
(h) The City Council has prepared the Preliminary Project and Finance Plan prior to the
execution 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 One, City of Friendswood.
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.
Councilmembers and the Mayor may serve as Board Members.
(b) Persons appointed to the Board shall be eligible to serve on the Board if they are at
least eighteen (18) years of age, and are a resident of the county in which the Zone is
located or a county adjacent to that county.
(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 (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 the Board shall not take effect
unless and until adopted by City Council.
(d) Directors shall not receive any salary or other compensation for their services as
directors.
(e) Members of the Board shall be appointed for terms of two (2) 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. The tenure of the Mayor and City
Councilmembers serving as members of the Board shall be limited to the shorter of the
following:
1. The statutory two-year term; or
2. The date the Board member ceases to be a member of the City Council.
(f) The initial Board shall be seven (7) members and the following shall be members:
1.
City Councilmember, Place 1
2.
City Councilmember, Place 2
3.
City Councilmember, Place 3
4.
City Councilmember, Place 4
5.
City Councilmember, Place 5
6.
City Councilmember, Place 6
7.
Mayor
(g) 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 (1) 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, 2053; or (ii) 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.
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, 2023, 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"). Consistent with Section 311.012(a) of the Act, the
amount of the tax increment for a year is seventy percent (70%) 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 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 Friendswood 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. Effective Date. This ordinance shall take effect immediately upon its adoption
and publication in accordance with and as provided by law.
PASSED, APPROVED and ADOPTED on first and final reading by the affirmative vote of
the City Council of the City of Friendswood on this the 4 h day of December, 2023.
I ORE AN, Mayor
A
LETICIA BRYSCH, City Secr ary O i , O
APPROVED AS TO FORM: C
�TgTE OF
KAREN L. HORNER, City Attorney
HACity Council\Ordinances\2023\12-04-2023\Ordinance - Establishing TIRZ No. l.docx
Exhibit A
LEGAL DESCRIPTION OF BOUNDARIES
boundary
METES AND BOUNDS DESCRIPTION
124.612 ACRES (5,428,103 SQ. FT.)
SARAH MCKISSICK LEAGUE, A-549
CITY OF FRIENDSWOOD
HARRIS COUNTY, TEXAS
Being a tract or parcel containing 124.612 acres (5,428,103 square feet) of land situated
in the Sarah McKissick League, Abstract Number 549, Harris County, Texas; being all
of Restricted Reserves "A" and "C", CLEAR CREEK COMMUNITY CHURCH
FRIENDSWOOD, a subdivision plat of record at Film Code No. 691601, Harris County
Map Records (H.C.M.R.); being all of a called 106.472 acre tract of land conveyed to
Madison Development Corp., LLC as described by deed recorded under Harris County
Clerk's File (H.C.C.F.) No. RP-2023-65754: being all of a called 10.0000 acre tract of
land conveyed to Clear Creek Independent School District as described by deed
recorded under H.C.C.F. No. P598262; being out of and a part of a called 28.9270 acre
tract of land conveyed to Clear Creek Independent School District as described by deed
recorded under H.C.C.F. No. P598260; being all of a called 1.2603 acre tract of land
conveyed to City of Friendswood as described by deed recorded under H.C.C.F. No.
20120071426, being out of and a part of Townes Road (80' right-of-way (R.O.W.));
being out of and a part of Blackhawk Boulevard (100' R.O.W.); being out of and a part
of F.M. 528 (120' R.O.W.); being out of and a part of West Bay Area Boulevard (100'
R.O.W.); being out of and a part of Harris County Flood Control District Unit No. A114-
00-00 (190' R.O.W.); said 124.612 acre tract of land being more particularly described
as follows (bearings are oriented to the Texas State Plane Coordinate System of 1983,
South Central Zone 4204, US Survey Feet, NAD83(NA2011):
BEGINNING at a 5/8-inch iron rod with cap stamped "GBI PARTNERS" found on the curved
southerly R.O.W. line of F.M. 528 and marking the northerly common corner of said
Restricted Reserves "A" and "B", CLEAR CREEK COMMUNITY CHURCH; said iron rod
also for the northwest comer of the herein described tract;
THENCE, Northeasterly, an arc distance of 311.32 feet along said southerly R.O.W. line
and a curve to the right, having a radius of 1,840.08 feet, a central angle of 09041'36", and a
chord which bears North 76021'49" East, 310.94 feet to a point of tangency, from which a
disturbed Texas Department of Transportation (TXDOT) aluminum disk found bears South
07156' East, 0.69 feet;
THENCE, North 08051'00" West, over and across said F.M. 528, a distance of 120.00 feet
to the southerly end of a cutback line at the northwest corner of the intersection of said F.M.
528 and Townes Road;
THENCE, North 36°33'39" East, along said cutback line, a distance of 21.34 feet to the
northerly end of said cutback line at the curved westerly R.O.W. line of said Townes Road;
150 W. Shadowbend Avenue, Suite 1#304 1 Friendswood, TX 77546
phone 281.648.3131 1 fax 281.648.3737 1 e-mail christianCboundaryone.com
T.B.P.L.S. Firm No. 10084800
boundary Awk
METES AND BOUNDS DESCRIPTION
124.612 ACRES (5,428,103 SQ. FT.)
PAGE 2 OF 8
THENCE, Northerly, an arc distance of 120.00 feet along said westerly R.O.W. line and a
curve to the left, having a radius of 543.00 feet, a central angle of 12039'44", and a chord
which bears North 1501240" West, 119.76 feet to an angle point;
THENCE, North 68027'28" East, over and across said Townes Road, a distance of 80.00
feet to the curved easterly R.O.W. line of Townes Road;
THENCE, Southerly, an arc distance of 138.66 feet along said easterly R.O.W. line and a
curve to the right, having a radius of 623.00 feet, a central angle of 12145'09", and a chord
which bears South 15°09'57" East, 138.38 feet to the northerly end of a cutback line at the
northeast corner of the intersection of said F.M. 528 and Townes Road;
THENCE, South 53047'23" East, along said cutback line, a distance of 20.00 feet to the
southerly end of said cutback line at the northerly R.O.W. line of said F.M. 528;
THENCE, South 08"51'00" East, over and across said F.M. 528, a distance of 120.00 feet
to the southerly R.O.W. line of F.M. 528;
THENCE, North 81012'37" East, along said southerly R.O.W. line, a distance of 1,131.34
feet to an angle point;
THENCE, North 08'47'23" West, over and across said F.M. 528, a distance of 120.00 feet
to the southerly end of a cutback line at the northwest comer of the intersection of said F.M.
528 and Blackhawk Boulevard;
THENCE, North 36012'37" East, along said cutback line, a distance of 20.00 feet to the
northerly end of said cutback line at the westerly R.O.W. line of said Blackhawk Boulevard;
THENCE, North 08047'23" West, along said westerly R.O.W. line, a distance of 180.00 feet
to an angle point;
THENCE, North 81°12'37" East, over and across said Blackhawk Boulevard, a distance of
100.00 feet to the easterly R.O.W. line of Blackhawk Boulevard;
THENCE, South 08047'23" East, along said easterly R.O.W. line, a distance of 180.00 feet
to the northerly end of a cutback line at the northeast corner of the intersection of said F.M.
528 and Blackhawk Boulevard;
150 W. Shadowbend Avenue, Suite #304 1 Friendswood, TX 77546
phone 281.648.3131 1 fax 281.648.3737 1 e-mail christian@boundaryone.com
T.B.P.L.S. Firm No. 10084800
boundary d
METES AND BOUNDS DESCRIPTION
124.612 ACRES (5,320,448 SQ. FT.)
PAGE 3 OF 8
THENCE, South 53047'23" East, along said cutback line, a distance of 20.00 feet to the
southerly end of said cutback line at the northerly R.O.W. line of said F.M. 528;
THENCE, South 08°47'23" East, over and across said F.M. 528, a distance of 120.00 feet
to the southerly R.O.W. line of F.M. 528;
THENCE, North 81012'37" East, along said southerly R.O.W. line, a distance of 403.47 feet
to a 5/8-inch iron rod found at the base of a concrete pad and marking the northwest corner
of said 28.9270 acre tract:
THENCE, South 08047'23" East, departing said southerly R.O.W. line and along the
common line of said 28.9270 acre tract and said 106.472 acre tract, a distance of 1,109.36
feet to an angle point;
THENCE, North 811,12'37" East, over and across said 28.9270 acre tract, a distance of
917.54 feet to an angle point;
THENCE, North 00056'05" West, continuing over and across said 28.9270 acre tract, a
distance of 18.06 feet to an angle point;
THENCE, North 08047'24" West, continuing over and across said 28.9270 acre tract, a
distance of 156.86 feet to an angle point;
THENCE, North 68047'23" West, continuing over and across said 28.9270 acre tract, a
distance of 30.04 feet to an angle point;
THENCE, North 46012'37" East, continuing over and across said 28.9270 acre tract, a
distance of 105.00 feet to the westerly R.O.W. line of said Harris County Flood Control
District Unit No. All14-00-00 (190' R.O.W.) as described by deeds recorded under
H.C.C.F. No(s). E449568 and X384682;
THENCE, South 08°47'24" East, along said westerly R.O.W. line, a distance of 236.23 feet
to an angle point;
THENCE, South 00056'05" East, continuing along said westerly R.O.W. line, a distance of
116.17 feet to an angle point;
THENCE, South 14°46'31" West, continuing along said westerly R.O.W. line, at 85.85 feet
passing the easterly common corner of said 28.9270 acre tract and said 10.0000 acre tract,
continuing in all for a total distance of 116.17 feet to an angle point:
150 W. Shadowbend Avenue, Suite #304 1 Friendswood, TX 77546
phone 281.648.3131 1 fax 281.648.3737 1 e-mail christian@boundaryone.com
T. B. P. L. S. Firm No. 10084800
boundary
METES AND BOUNDS DESCRIPTION
124.612 ACRES (5,428,103 SQ. FT.)
PAGE 4 OF 8
THENCE, South 30"29'10" West, continuing along said westerly R.O.W. line, a distance of
116.17 feet to an angle point;
THENCE, South 38020'29" West, continuing along said northwesterly R.O.W. line, a
distance of 568.63 feet to an angle point, -
THENCE, South 58042'02" East, over and across said Harris County Flood Control District
Unit No. Al 14-00-00 (190' R.O.W.), a distance of 190.71 feet to the most northerly corner of
the aforesaid 1.2603 acre tract;
THENCE, South 58044'41" East, along a northeasterly line of said 1.2603 acre tract, a
distance of 308.78 feet to a 5/8-inch iron rod with cap stamped "SUN SURVEYING" found
marking an angle point;
THENCE, South 70"03'17" East, along a northeasterly line of said 1.2603 acre tract, a
distance of 101.98 feet to a 5/8-inch iron rod with cap stamped "SUN SURVEYING" found
marking an angle point;
THENCE, South 58"44'41" East, along a northeasterly line of said 1.2603 acre tract, a
distance of 200.02 feet to a 5/8-inch iron rod with cap stamped "SUN SURVEYING" found
on the northwesterly R.O.W. line of said West Bay Area Boulevard (100 feet wide) and
marking an angle point;
THENCE, North 22112'52" East, along said northwesterly R.O.W. line, a distance of 30.00
feet to an angle point;
THENCE, South 67047'08" East, over and across said West Bay Area Boulevard, a
distance of 100.00 feet to the southeasterly R.O.W. line of West Bay Area Boulevard;
THENCE. South 22°12'52" West, along said southeasterly R.O.W. line, a distance of
375.00 feet to an angle point;
THENCE, North 67147'08" West, over and across said West Bay Area Boulevard, a
distance of 100.00 feet to the northwesterly R.O.W. line of West Bay Area Boulevard;
THENCE, North 22°12'52" East, along said northwesterly R.O.W. line, a distance of 243.74
feet to a 5/8-inch iron rod with cap stamped "SUN SURVEYING" found marking the most
southerly corner of said 1.2603 acre tract and for the most easterly corner of Lots 10 and
11, Block 1, AUTUMN CREEK SECTION NINE, a subdivision plat of record at Film Code
No. 497014, H.C.M.R.;
150 W. Shadowbend Avenue, Suite #304 1 Friendswood, TX 77546
phone 281.648.3131 1 fax 281.648.3737 1 e-mail christian@boundaryone.com
T.B.P.L.S. Firm No. 10084800
METES AND BOUNDS DESCRIPTION
124.612 ACRES (5,428,103 S0. FT.)
PAGE 5 OF 8
THENCE, North 58°44'41" West, departing said northwesterly R.O.W. line and along the
common line of said 1.2603 acre tract and Lots 9 and 10, Block 1, AUTUMN CREEK
SECTION NINE, a distance of 634.66 feet to a 3/4-inch iron rod found marking the most
westerly corner of said 1.2603 acre tract;
THENCE, North 58'42'02" West, over and across said Harris County Flood Control District
Unit No. A114-00-00 (190' R.O.W.), a distance of 190.70 feet to the southeast line of the
aforesaid 10.0000 acre tract;
THENCE, South 38°20'29" West, along said southeast line and northwesterly R.O.W.
line of said Harris County Flood Control District Unit No. A114-00-00 (190' R.O.W.), at
502.52 feet passing a 5/8-inch iron rod with cap stamped "RPLS 3974" found marking the
southerly common corner of said 10.000 acre tract and said 106.472 acre tract, continuing
in all for a total distance of 1,380.50 feet to the call meander line of mean higher water for
Clear Creek as per survey prepared by Stephen Blaskey, LSLS, dated October 9, 2015
and for the most southerly corner of the herein described tract;
THENCE, along said mean higher water line of Clear Creek, the following courses and
distances:
North 21 "17'29" West, a distance of 80.86 feet to an angle point;
North 04022'12" West, a distance of 216.80 feet to an angle point;
North 32141'57" West, a distance of 184.39 feet to an angle point;
North 51 "06'03" West, a distance of 159.93 feet to an angle point;
North 74003'08" West, a distance of 164.71 feet to an angle point;
South 48"02'49" West, a distance of 44.69 feet to an angle point;
North 73`53'13" West, a distance of 47.50 feet to an angle point;
South 49024'27" West, a distance of 89.87 feet to an angle point;
North 7514'40" West, a distance of 40.66 feet to an angle point;
150 W. Shadowbend Avenue, Suite #304 1 Friendswood, TX 77546
phone 281.648.3131 1 fax 281.648.3737 1 e-mail christian@boundaryone.com
T.B.P.L.S. Firm No. 10084800
boundary
METES AND BOUNDS DESCRIPTION
124.612 ACRES (5,428,103 SQ. FT.)
PAGE 6 OF 8
South 431153'50" West, a distance of 146.10 feet to an angle point;
South 25105'22" West, a distance of 134.50 feet to an angle point;
South 83°33'17" West, a distance of 49.30 feet to an angle point;
South 21 °22'27" West, a distance of 73.69 feet to an angle point;
North 77009'16" West, a distance of 62.96 feet to an angle point;
South 59048'42" West, a distance of 48.72 feet to an angle point;
North 76°29'09" West, a distance of 56.65 feet to an angle point;
North 88056'38" West, a distance of 120.31 feet to an angle point;
North 781101'47" West, a distance of 221.29 feet to an angle point;
North 671113'30" West, a distance of 112.00 feet to an angle point;
North 50"46'11" West, a distance of 258.04 feet to an angle point;
North 16000'41" West, a distance of 99,00 feet to an angle point;
North 05032'33" West, a distance of 60.42 feet to an angle point;
North 23027'30" East, a distance of 67.18 feet to an angle point;
North 39020'14" East, a distance of 42.52 feet to an angle point;
North 59156'00" East, a distance of 35.59 feet to an angle point;
South 84003'09" East, a distance of 25.53 feet to an angle point;
South 63°21'49" East, a distance of 25.66 feet to an angle point;
North 23023'59" East, a distance of 84.42 feet to an angle point;
150 W. Shadowbend Avenue, Suite #304 1 Friendswood, TX 77546
phone 281.648.3131 I fax 281.648.3737 1 e-mail christian@boundaryone.com
T.B.P.L.S. Firm No. 10084800
boundary
METES AND BOUNDS DESCRIPTION
124.612 ACRES (5,428,103 SO. FT.)
PAGE 7 OF 8
North 27029'30" East, a distance of 63.48 feet to an angle point;
North 19°02'35' East, a distance of 103.93 feet to an angle point;
North 141138'12" East, a distance of 53.72 feet to an angle point;
North 13022'21" West, a distance of 9.00 feet to an angle point;
North 15004'35" East, a distance of 70.83 feet to an angle point;
North 31 °32'46" West, a distance of 52.49 feet to an angle point;
North 21 "40'27" West, a distance of 75,23 feet to an angle point;
North 29057'57" West, a distance of 10.93 feet to an angle point;
North 35'55'50" West, a distance of 91.39 feet to a southerly corner of Restricted
Reserve "D", CLEAR CREEK COMMUNITY CHURCH;
THENCE, North 20°09'13" East, departing said mean higher high water line of Clear Creek and
along the common line of said Restricted Reserves "C" and "D", CLEAR CREEK COMMUNITY
CHURCH, a distance of 208.95 feet to a 5/8-inch iron rod with cap stamped "BOUNDARY ONE-
RPLS 5489" set marking the most southerly corner of said Restricted Reserve "B" and for an
angle point;
THENCE, North 08°44'05" West, along the common line of said Restricted Reserves "B" and
"C", CLEAR CREEK COMMUNITY CHURCH, at 608.49 feet passing the westerly common
corner of said Restricted Reserves "A" and "C", continuing along a common line of said
Restricted Reserves "A" and "B" for a total distance of 854.44 feet to a 5/8-inch iron rod with cap
stamped "BOUNDARY ONE-RPLS 5489" set marking a common corner of said Restricted
Reserves "A" and "B" and for an angle point;
THENCE, South 81°13'21" West, continuing along a common line of said Restricted Reserves
"A" and "B", CLEAR CREEK COMMUNITY CHURCH, a distance of 185.80 feet to a 5/8-inch
iron rod with cap stamped "BOUNDARY ONE-RPLS 5489" set marking a common corner of
said Restricted Reserves "A" and "B" and for an angle point;
150 W. Shadowbend Avenue, Suite J#304 1 Friendswood, TX 77546
phone 281.648.3131 1 fax 281.648.3737 1 e-mail christianoXboundaryone.com
T.B.P.L.S. Firm No. 10084800
boundary @
METES AND BOUNDS DESCRIPTION
124.612 ACRES (5,428,103 SO. FT.)
PAGE 7 OF 8
THENCE, North 18 29'00" West. continuing along a common line of said Restricted Reserves
.A'. and "B". CLEAR CREEK COMMUNITY CHURCH, a distance of 211.51 feet to the POINT
OF BEGINNING and containing 124.612 acres (5,428,103 square feet) of land. This description
is based upon a Land Title Survey of 106.472 Acres cf land prepared by Boundary One. LLC.
Project Number 6767-2209-657G.
Compiled by: Christian Offenburger, R.P.L.S.
Boundary One, L.L.C.
T.B.P.L.S Firm No. 10084800
150 W. Shadowbend, Suite 304
Friendswood, TX 77546
(281) 648-3131
www.boundaryone.com
November 2. 2023
Mb124612.docx ) v
150 W. Shadowbend Avenue, Suite #304 1 Friendswood, TX 77546
phone 281.648.3131 1 fax 281.648.3737 i e-mail Christian 7-boundaryone.corn
T.B.P.L.S. Firm No. 10084800
OVERVIEW MAP: TIRZ #1 - 124.61 ACRES
`\
1 Inch equals 0.1 Miles
0 0.25 0.5
PKS
Exhibit "C"
REINVESTMENT ZONE NUMBER ONE,
CITY OF FRIENDSWOOD, TEXAS
PRELIMINARY PROJECT AND FINANCE PLAN
DECEMBER 4, 2023
i TABLE OF CONTENTS i
Tableof Contents..........................................................................................................................................1
Section1: Definitions....................................................................................................................................2
Section2: Introduction.................................................................................................................................4
Section3: Description and Maps..................................................................................................................6
Section 4: Proposed Changes to Ordinances, Plans, Codes, Rules, and Regulations ................................... 6
Section 5: Relocation of Displaced Persons..................................................................................................6
Section 6: Estimated Non -Project Costs.......................................................................................................
7
Section 7: Proposed Public Improvements...................................................................................................7
Section 8: Estimated Project Costs...............................................................................................................
7
Section 9: Economic Feasibility.....................................................................................................................
8
Section 10: Estimated Bonded Indebtedness...............................................................................................8
Section11: Appraised Value.........................................................................................................................8
Section 12: Method of Financing..................................................................................................................9
Section 13: Duration of the Zone, Termination............................................................................................ 9
Listof Exhibits.............................................................................................................................................11
ExhibitA-1— Map of the Zone....................................................................................................................12
ExhibitB — Non -Project Costs.....................................................................................................................13
ExhibitC — Project Costs..............................................................................................................................14
Exhibit D — Estimated Timeline of Incurred Costs.......................................................................................15
Exhibit E — Feasibility Study.........................................................................................................................16
Exhibit F-1— Legal Description of the Zone................................................................................................17
Exhibit G — Proposed Uses of the Property.................................................................................................
25
Exhibit H — Map of the Public Improvements.............................................................................................26
REINVESTMENT ZONE NUMBER ONE, CITY OF FRIENDSWOOD, TEXAS 1
PRELIMINARY PROJECT AND FINANCE PLAN
SECTION 1: DEFINITIONS
Capitalized terms used in this Preliminary Plan shall have the meanings given to them in Section
below unless otherwise defined in this Preliminary Plan or unless the context in which a term is
used clearly requires a different meaning. Unless otherwise defined, a reference to a "Section,"
or an "Exhibit," shall be a reference to a Section of this Preliminary Plan or an Exhibit or Appendix
attached to and made a part of this Preliminary Plan for all purposes.
"Act" means Chapter 311, Texas Tax Code, Tax Increment Financing Act
"Administrative Costs" means the actual, direct costs paid or incurred by or on behalf of the City
to administer the Zone, including planning, engineering, legal services, organizational costs,
publicizing costs, or implementations costs paid by or on behalf of the City that are directly
related to the administration of the Zone.
"Appraisal District" means the Harris Central Appraisal District.
"Board" means the Board of Directors for the Zone.
"Captured Appraised Value" means the new taxable value generated in addition to the Tax
Increment Base on a parcel -by -parcel basis for each year during the term of the Zone, as
calculated and confirmed annually by the Appraisal District.
"City" means the City of Friendswood, Texas.
"City Center PID Service and Assessment Plan" means that certain City Center Public
Improvement District Service and Assessment Plan, to be adopted by the City in calendar year
2024 and amended from time to time.
"City Center Public Improvement District" means the City Center Public Improvement District,
which includes certain of the Property within its boundaries, created by Resolution No. XXX of
the City passed on December 4, 2023.
"City Council" means the governing body of the City.
"City TIRZ Increment" means seventy percent (70%) of the City's ad valorem real property taxes
collected and received by the City on the Captured Appraised Value in the Zone, and deposited
into the TIRZ Fund.
"Creation Ordinance" means Ordinance No. adopted by the City Council on December 4,
2023.
"Developer" means Madison Development Corporation, LLC and its successors or assigns.
REINVESTMENT ZONE NUMBER ONE, CITY OF FRIENDSWOOD, TEXAS Z
PRELIMINARY PROJECT AND FINANCE PLAN
"Development Agreement" means the City Center Development Agreement, effective as of
December 4, 2023.
"Feasibility Study" means the economic feasibility study as evaluated over the term of the Zone
and focused only on direct financial benefits, as shown on Exhibit E.
"Final Plan" means the future Reinvestment Zone Number One, City of Friendswood Final Project
and Finance Plan.
"Non -Project Costs" means those certain costs that will be spent to develop in the Zone, but will
not be financed by the Zone, and will be financed by private funds, as described in Section 6, and
shown on Exhibit B.
"Preliminary Plan" means this Reinvestment Zone Number One, City of Friendswood Preliminary
Project and Finance Plan.
"Project Costs" means the total costs for projects in the Zone, including the actual costs of the
Public Improvements, and the Administrative Costs.
"Property" means 124.612 acres of land as depicted on Exhibit A and identified on Exhibit F.
"Public Improvements" means the proposed public improvements to be financed by the Zone,
which includes streets, detention, water, sanitary sewer, sanitary lift station, clearing & grubbing,
earthwork, paving & grading, landscaping, amenities & parks, professional services, and
associated financing and interest costs related thereto, as depicted on Exhibit H, and detailed on
Exhibit C.
"TIRZ Agreement" means the Tax Increment Reinvestment Zone Number One, City of
Friendswood (TIRZ) Agreement, effective as of December 4, 2023.
"TIRZ Credit" means the TIRZ Number One Maximum Annual Credit Amount designated towards
the principal and interest portion of the Annual Installment for the Assessed Property, as will be
further defined and described in the City Center PID Service and Assessment Plan.
"Tax Increment Base" means total appraised value of taxable real property in the Zone at the
time of creation of the Zone, as calculated and certified by the Appraisal District.
"TIRZ Fund" means the tax increment fund created by the City and segregated from all other
funds of the City.
"Zone" means Reinvestment Zone Number One, City of Friendswood, as depicted on Exhibit A,
and described on Exhibit F.
REINVESTMENT ZONE NUMBER ONE, CITY OF FRIENDSWOOD, TEXAS 3
PRELIMINARY PROJECT AND FINANCE PLAN
SECTION 2: INTRODUCTION
2.1 Authority and Purpose
The City has the authority under the Act to designate a contiguous or noncontiguous geographic
area within the corporate limits or extraterritorial jurisdiction of the City as a tax increment
reinvestment zone to promote development or redevelopment of the area because the City
Council determined that development or redevelopment would not occur solely through private
investment in the reasonably foreseeable future, that the Zone is economically 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.
2.2 Eligibility Requirements
An area is eligible under the Act to be designated as a tax increment reinvestment zone if the
area:
1) substantially arrests or impairs the sound growth of the municipality designating the
Zone, retard the provision of housing accommodations, or constitutes an economic or
social liability and is a menace to the public health, safety, morals, or welfare in its present
condition; or
2) 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; or
3) is in a federally assisted new community located in the City or in an area immediately
adjacent to a federally assisted new community; or
4) is in an area described in a petition requesting that the area be designated as a
reinvestment zone, if the petition is submitted to the governing body of the City by the
owners of property constituting at least fifty percent (50%) of the appraised value of the
property in the area according to the most recent certified appraisal roll for the county in
which the area is located.
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.
REINVESTMENT ZONE NUMBER ONE, CITY OF FRIENDSWOOD, TEXAS 4
PRELIMINARY PROJECT AND FINANCE PLAN
2.3 Proposed Zone
The Property within the proposed Zone is currently located within the corporate limits of the
City. The Property is predominantly open, undeveloped or underdeveloped, and substantially
impairs and arrests the sound growth of the City. Due to its size, location, and physical
characteristics development would not occur solely through private investment in the
foreseeable future. The Property lacks public infrastructure and requires economic incentive to
attract development 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 are financed as contemplated by this Preliminary Plan, the City envisions that the
Property will be developed to take full advantage of the opportunity to bring to the City a quality
development.
2.4 Preliminary Plan and Hearing
Before the City Council adopts the Creation Ordinance, the City Council must prepare a
preliminary reinvestment zone project and finance plan in accordance with the Act and hold a
public hearing on the creation of the Zone and its benefits to the City and to the Property, at
which public hearing interested persons shall be given the opportunity to speak for and against
the creation of the Zone, the boundaries of the Zone and the concept of tax increment financing,
and at which hearing the owners of the Property shall be given a reasonable opportunity to
protest the inclusion of their Property in the Zone. The requirement of the Act for a preliminary
reinvestment zone project and finance plan was satisfied by this Preliminary Plan, the purpose of
which was 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 shall be determined by the Final Plan, which requires approval by the
Board and City Council.
2.5 Creation of the Zone
Upon the closing of the above referenced public hearing, the City Council shall consider the
Creation Ordinance and the following findings:
1) that development or redevelopment of the Property would not occur solely through
private investment in the reasonably foreseeable future,
2) that the Zone was feasible,
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, and
4) that the Zone meets the eligibility requirements of the Act.
Among other provisions required by the Act, the Creation Ordinance shall appoint the Board.
REINVESTMENT ZONE NUMBER ONE, CITY OF FRIENDSWOOD, TEXAS 5
PRELIMINARY PROJECT AND FINANCE PLAN
2.6 Board Recommendations
After the creation of the Zone, the Board shall review the Final Plan and recommend its approval
to the City Council. Additionally, the Board shall consider a TIRZ Agreement among the City, the
Board and the Developer and recommend its approval to the City Council.
2.7 Council Action
On December 4, 2023, the City Council approved the Creation Ordinance and a development
agreement with the Developer. It is anticipated that the Final Plan shall be updated in the future
to identify additional improvements within the Zone.
SECTION 3: DESCRIPTION AND MAPS
3.1 Existing Uses and Conditions
The Property is currently zoned Planned Unit Development, Single Family Residential, and Single
Family Residential with a Specific Use Permit and is intended to be developed with commercial
and residential uses. The Property is undeveloped or underdeveloped, and there is limited public
infrastructure to support development. Development requires extensive public infrastructure
that: (1) the City could not provide, and (2) would not be provided solely through private
investment in the foreseeable future.
3.2 Proposed Uses
The proposed uses of the Property in the City include a retail, mixed -use commercial areas, multi-
family, office/medical and hotel as shown on Exhibit G.
SECTION 4: PROPOSED CHANGES TO ORDINANCES, PLANS, CODES, RULES, AND
REGULATIONS
The Property is wholly located in the corporate limits of the City and shall be subject to the City's
zoning regulations. The property is currently zoned as Planned Unit Development, Single Family
Residential, and Single Family Residential with a Specific Use Permit. 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.
SECTION 5: RELOCATION OF DISPLACED PERSONS
No person shall be displaced and in need of relocation due to the creation of the Zone or shall be
due to the implementation of the Final Plan.
REINVESTMENT ZONE NUMBER ONE, CITY OF FRIENDSWOOD, TEXAS 6
PRELIMINARY PROJECT AND FINANCE PLAN
SECTION 6: ESTIMATED NON -PROJECT COSTS
Non -project costs are costs that will be spent to develop in the Zone but will not be financed by
the Zone, and will be financed by private funds. The list of non -project costs is shown on Exhibit
B and are estimated to be approximately $710,724,032.
SECTION 7: PROPOSED PUBLIC IMPROVEMENTS
7.1 Categories of 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.
7.2 Locations of Public Improvements
The estimated locations of the proposed Public Improvements are depicted on Exhibit H. These
locations may be revised, with the approval of the City, from time to time without amending the
Final Plan.
SECTION 8: ESTIMATED PROJECT COSTS
8.1 Project Costs
The total costs are estimated to be $69,085,379, as shown below and detailed on Exhibit C. The
costs of Public Improvements are estimated to be $68,679,698, and the Administrative Costs are
estimated to be $405,681.
8.2 Administrative Costs
The Administrative Costs are estimated to be $10,000 per year beginning 2024 and escalating at
two percent (2%) thereafter. The Administrative Costs shall be paid each year from the TIRZ Fund
before any other Project Costs are paid.
8.3 Estimated Timeline of Incurred Costs
The Administrative Costs will be incurred annually through the remaining duration of the Zone.
It is estimated the costs for constructing the Public Improvements will be incurred between 2026
and 2027, as shown on Exhibit D.
REINVESTMENT ZONE NUMBER ONE, CITY OF FRIENDSWOOD, TEXAS 7
PRELIMINARY PROJECT AND FINANCE PLAN
SECTION 9: ECONOMIC FEASIBILITY
9.1 Feasibility Study
The Feasibillity Study, as shown on Exhibit E, 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 $125,556,141 in total new real property tax
revenue for the City over the remaining term of the Zone. Approximately $87,889,298 will be
deposited into the TIRZ Fund to pay for Project Costs over the remaining term of the Zone. The
remaining real property tax revenue over that period, estimated at $37,666,842 shall be retained
by the City.
The Feasibility Study shows the cumulative City TIRZ Increment is estimated to be $125,556,141,
which will be available to pay a portion of the Project Costs, until the term expires or is otherwise
terminated. The remainder of the new City real property tax revenue generated within the Zone
and retained by the City is estimated to be $37,666,842 over the remaining term.
The City shall participate at 70% for the life of the Zone. Based on the foregoing, the feasibility of
the Zone has been demonstrated.
It is anticipated that the Final Plan shall be amended in the future to reflect additional
development within the Zone.
SECTION 10: ESTIMATED BONDED INDEBTEDNESS
No TIRZ bonds are anticipated to be issued by the City pursuant to the Act. However, it is
anticipated that the Zone may fund all or a portion of city debt service issued to support the
Project Costs.
SECTION 11: APPRAISED VALUE
11.1 Tax Increment Base
The Tax Increment Base is estimated to be $1,780,871 and shall be confirmed by the Appraisal
District. Each year, the Appraisal District shall confirm the Captured Appraised Value of the Zone.
11.2 Estimated Captured Appraised Value
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 approximately $1,149,779,651 as shown on Exhibit E.
The actual Captured Appraised Value, as certified by the Appraisal District each year, will be used
to calculate annual payment by the City into the TIRZ Fund pursuant to the Final Plan. IT is
REINVESTMENT ZONE NUMBER ONE, CITY OF FRIENDSWOOD, TEXAS 8
PRELIMINARY PROJECT AND FINANCE PLAN
anticipated that the Final Plan shall be amended in the future to reflect additional development
within the Zone, which would increase the estimated total Captured Appraised Value.
SECTION 12: METHOD OF FINANCING
12.1 TIRZ Fund Contributions
The Final Plan shall obligate the City to deposit into the TIRZ Fund each year the City Property Tax
Increment. For example, in FY 2024, the City's ad valorem tax rate is $0.500728 per $100 of
taxable value, therefore the City would contribute $0.3505096 per $100 of the Captured
Appraised Value in the Zone levied and collected, to the TIRZ Fund.
The funds deposited into the TIRZ Fund shall be prioritized and allocated on a parcel by parcel as
follows:
1. For the reasonable Administrative Costs of the Residential Property portion of the
Zone; then
2. For the payment of Public Improvement Costs through an annual reduction of a
portion of the principal and interest of the Annual Installment of Assessments (as
each defined in the City Center PID Service and Assessment Plan), as further
described in the City Center PID Service and Assessment Plan, on a parcel by parcel
basis, in an amount not to exceed the TIRZ Maximum Annual Credit Amount (as
defined in the City Center PID Service and Assessment Plan); then
3. To the extent there are TIRZ Fund revenues remaining after such TIRZ Credit, any
excess TIRZ Fund revenue may be utilized in any other manner as authorized by
the City Council and allowed pursuant to the Act.
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 City. The City may amend the Final Plan in
compliance with the Development Agreement and TIRZ Agreement, including but not limited to
what is considered a Project Cost.
SECTION 13: DURATION OF THE ZONE, TERMINATION
13.1 Duration
The stated term of the Zone shall commence upon the execution of the Creation Ordinance and
shall continue until December 31, 2053, with the last payment being due by January 31, 2054,
unless otherwise terminated in accordance with the Creation Ordinance.
REINVESTMENT ZONE NUMBER ONE, CITY OF FRIENDSWOOD, TEXAS 9
PRELIMINARY PROJECT AND FINANCE PLAN
13.2 Termination
The Zone shall terminate on the earlier of (i) December 31, 2053, or (ii) at such time that the
obligations of the Zone, including all Project Costs, have been paid in full. If upon expiration of
the stated term of the Zone, the obligations of the Zone have not been fully funded by the TIRZ
Fund, the City shall have no obligation to pay the shortfall and the term shall not be extended.
Nothing in this Section is intended to prevent the City from extending the term of the Zone in
accordance with the Act.
REINVESTMENT ZONE NUMBER ONE, CITY OF FRIENDSWOOD, TEXAS 10
PRELIMINARY PROJECT AND FINANCE PLAN
LIST OF EXHIBITS
Unless otherwise stated, all references to "Exhibits" contained in this Preliminary Plan shall mean
and refer to the following exhibits, all of which are attached to and made a part of this Preliminary
Plan for all purposes.
Exhibit A
Map of the Zone
Exhibit B
Non -Project Costs
Exhibit C
Project Costs
Exhibit D
Estimated Timeline of Incurred Costs
Exhibit E
Feasibility Study
Exhibit F
Legal Description of the Zone
Exhibit G
Proposed Uses of the Property
Exhibit H
Map of the Public Improvements
REINVESTMENT ZONE NUMBER ONE, CITY OF FRIENDSWOOD, TEXAS 11
PRELIMINARY PROJECT AND FINANCE PLAN
EXHIBIT A - MAP OF THE ZONE
FRIENDSWOOD.
OVERVIEW MAP TIRZ 91 124.61 ACRES
aws
1 Inch e". 0.1 Miles
0 0 95 0.5
REINVESTMENT ZONE NUMBER ONE, CITY OF FRIENDSWOOD, TEXAS
PRELIMINARY PROJECT AND FINANCE PLAN
12
---------- ___.__.a. --_-_w _- ----------------------- EXHIBIT B - NON -PROJECT COSTS
Lot Value' Buildout Valuer
Per Unit
Total
Per Unit
Total
Retail #1
10,700
$ 163
$
1,742,400
$
550
$
5,885,000
$
4,142,600
Retail #2
14,000
$ 124
$
1,731,510
$
550
$
7,700,000
$
5,968,490
Retail #3
15,000
$ 118
$
1,775,070
$
550
$
8,250,000
$
6,474,930
Retail #4
12,000
$ 146
$
1,753,290
$
550
$
6,600,000
$
4,846,710
Retail #5
12,000
$ 143
$
1,720,620
$
550
$
6,600,000
$
4,879,380
Mixed Use #1
100,000
$ 30
$
2,994,750
$
505
$
50,500,000
$
47,505,250
Mixed Use #2
100,000
$ 34
$
3,354,120
$
505
$
50,500,000
$
47,145,880
Mixed Use #3
120,000
$ 23
$
2,761,704
$
505
$
60,600,000
$
57,838,296
Medical/Office #1
115,000
$ 28
$
3,206,016
$
618
$
71,070,000
$
67,863,984
Medical/Office #2
76,000
$ 20
$
1,533,312
$
618
$
46,968,000
$
45,434,688
Multi -Family
750,000
$ 29
$
21,640,608
$
490
$
367,500,000
$
345,859,392
Hotel
167,300
$ 16
$
2,735,568
$
451
$
75,500,000
$
72,764,432
Total
$
710,724,032
Footnotes:
'Values based on Developer's model dated 11/16/2023.
Z It is anticipated that the Final Plan shall be amended in the future to identify additional Non -Project Costs within the Zone.
REINVESTMENT ZONE NUMBER ONE, CITY OF FRIENDSWOOD, TEXAS 13
PRELIMINARY PROJECT AND FINANCE PLAN
EXHIBIT C - PROJECT COSTS
,
City Center PID Projects'
Site Preparation
$ 235,000
Clearing, Grubbing & Demolition
$ 876,660
Earthwork, Paving & Grading
$ 13,931,727
Water Distribution System
$ 993,312
Detention
$ 6,880,375
Sanitary Sewer System
$ 1,227,454
Sanitary Lift Station
$ 1,330,700
Blackhawk Road Improvements
$ 3,050,000
Townes Road Improvements
$ 550,000
Bay Area Blvd Improvements
$ 150,000
Street Lights
$ 600,000
Right of Way
$ 2,463,600
Park Improvements
$ 4,629,208
Contingency
$ 5,067,963
Soft Costs
$ 1,852,195
Interest & Financing Costs
$ 16,020,820
Subtotal
$ 59,859,014
City Center Non-PID Projects
Fire Station
$ 8,300,000
Storm Drainage System3
$ -
Road Improvements
$ 520,684
Subtotal
$ 8,820,684
Administrative Costs
$ 405,681
Total Project Costs
$ 69,085,379
Footnotes:
1 As identified in the City Center PID SAP, based on Engineer's Opinion of
Probable Cost prepared by Ward, Getz and Associates, PLLC in November 2023.
2 Partial funding may be provided by the City Center PID.
3 Funded by previously issused bonds of the City.
° It is anticipated that the Final Plan shall be amended in the future to identify
additional Project Costs.
REINVESTMENT ZONE NUMBER ONE, CITY OF FRIENDSWOOD, TEXAS 14
PRELIMINARY PROJECT AND FINANCE PLAN
EXHIBIT D - ESTIMATED TIMELINE OF INCURRED COSTS
REINVESTMENT ZONE NUMBER ONE, CITY OF FRIENDSWOOD, TEXAS 15
PRELIMINARY PROJECT AND FINANCE PLAN
EXHIBIT E - FEASIBILITY STUDY
REINVESTMENT ZONE NUMBER ONE, CITY OF FRIENDSWOOD, TEXAS
PRELIMINARY PROJECT AND FINANCE PLAN
EXHIBIT F - LEGAL DESCRIPTION OF THE ZONE
boundary Affik
METES AND BOUNDS DESCRIPTION
124.612 ACRES (5,428,103 SQ. FT.)
SARAH MCKISSICK LEAGUE, A-549
CITY OF FRIENDSWOOD
HARRIS COUNTY, TEXAS
Being a tract or parcel containing 124.612 acres (5,428,103 square feet) of land situated
in the Sarah McKissick League, Abstract Number 549, Harris County, Texas; being all
of Restricted Reserves "A" and "C", CLEAR CREEK COMMUNITY CHURCH
FRIENDSWOOD, a subdivision plat of record at Film Code No. 691601, Harris County
Map Records (H.C.M.R.); being all of a called 106.472 acre tract of land conveyed to
Madison Development Corp., LLC as described by deed recorded under Harris County
Clerk's File (H.C.C.F.) No. RP-2023-65754; being all of a called 10.0000 acre tract of
land conveyed to Clear Creek Independent School District as described by deed
recorded under H.C.C.F. No. P598262; being out of and a part of a called 28.9270 acre
tract of land conveyed to Clear Creek Independent School District as described by deed
recorded under H.C.C.F. No. P598260; being all of a called 1.2603 acre tract of land
conveyed to City of Friendswood as described by deed recorded under H.C.C.F. No.
20120071426; being out of and a part of Townes Road (80' right-of-way (R.O.W.));
being out of and a part of Blackhawk Boulevard (100' R.O.W.); being out of and a part
of F.M. 528 (120' R.O.W.); being out of and a part of West Bay Area Boulevard (100'
R.O.W.); being out of and a part of Harris County Flood Control District Unit No. A114-
00-00 (190' R.O.W.); said 124.612 acre tract of land being more particularly described
as follows (bearings are oriented to the Texas State Plane Coordinate System of 1983.
South Central Zone 4204, US Survey Feet, NAD83(NA2011):
BEGINNING at a 5/8-inch iron rod with cap stamped "GBI PARTNERS" found on the curved
southerly R.O.W. line of F.M. 528 and marking the northerly common corner of said
Restricted Reserves "A" and "B", CLEAR CREEK COMMUNITY CHURCH; said iron rod
also for the northwest comer of the herein described tract;
THENCE, Northeasterly, an arc distance of 311.32 feet along said southerly R.O.W. line
and a curve to the right, having a radius of 1,840.08 feet. a central angle of 09141'36", and a
chord which bears North 76121'49" East, 310.94 feet to a point of tangency, from which a
disturbed Texas Department of Transportation (TXDOT) aluminum disk found bears South
07,56' East, 0.69 feet;
THENCE, North 08151'00" West, over and across said F.M. 528, a distance of 120.00 feet
to the southerly end of a cutback line at the northwest comer of the intersection of said F.M.
528 and Townes Road;
THENCE, North 36°33'39" East, along said cutback line, a distance of 21.34 feet to the
northerly end of said cutback line at the curved westerly R.O.W. line of said Townes Road.
150 W. Shadowbend Avenue, Suite #304 1 Friendswood, TX 77546
phone 281.648.3131 I fax 281.648.3737 1 e-mail chnshaggboundaryone cpm
T.B.P.L.S. Firm No. 10084800
REINVESTMENT ZONE NUMBER ONE, CITY OF FRIENDSWOOD, TEXAS 17
PRELIMINARY PROJECT AND FINANCE PLAN
boundary AiL
METES AND BOUNDS DESCRIPTION
124.612 ACRES (5,428,103 SO. FT.)
PAGE 2 OF 8
THENCE, Northerly, an arc distance of 120.00 feet along said westerly R.O.W. line and a
curve to the left, having a radius of 543.00 feet, a central angle of 12'39'44", and a chord
which bears North 15112'40" West, 119.76 feet to an angle point;
THENCE, North 68127'28" East, over and across said Townes Road. a distance of 80.00
feet to the curved easterly R.O.W. line of Townes Road;
THENCE. Southerly, an arc distance of 138.66 feet along said easterly R.O.W. line and a
curve to the right, having a radius of 623.00 feet, a central angle of 12145'09", and a chord
which bears South 15'09'57" East, 138.38 feet to the northerly end of a cutback line at the
northeast corner of the intersection of said F.M. 528 and Townes Road;
THENCE, South 53147'23" East, along said cutback line, a distance of 20.00 feet to the
southerly end of said cutback line at the northerly R.O.W. line of said F.M. 528;
THENCE, South 08'51'00" East, over and across said F.M. 528, a distance of 120.00 feet
to the southerly R.O.W. line of F.M. 528;
THENCE, North 81012'37" East, along said southerly R.O.W. line, a distance of 1,131.34
feet to an angle point;
THENCE, North 08'47'23" West, over and across said F.M. 528, a distance of 120.00 feet
to the southerly end of a cutback line at the northwest corner of the intersection of said F.M.
528 and Blackhawk Boulevard;
THENCE, North 36'12'37" East, along said cutback line, a distance of 20.00 feet to the
northerly end of said cutback line at the westerly R.O.W. line of said Blackhawk Boulevard;
THENCE, North 08'47'23" West, along said westerly R.O.W. line, a distance of 180.00 feet
to an angle point;
THENCE. North 81'12'37" East, over and across said Blackhawk Boulevard, a distance of
100.00 feet to the easterly R.O.W. line of Blackhawk Boulevard:
THENCE, South 08147'23" East, along said easterly R.O.W. line, a distance of 180.00 feet
to the northerly end of a cutback line at the northeast corner of the intersection of said F.M.
528 and Blackhawk Boulevard;
150 W. Shadowbend Avenue, Suite #304 1 Friendswood, TX 77546
phone 281.648.3131 1 fax 281.648.3737 1 e-mail clmstiam!�boundaryone.com
T.B.P.L.S. Firm No. 10084800
REINVESTMENT ZONE NUMBER ONE, CITY OF FRIENDSWOOD, TEXAS 18
PRELIMINARY PROJECT AND FINANCE PLAN
on N U6'h"
METES AND BOUNDS DESCRIPTION
124.612 ACRES (5,320,448 SO. FT.)
PAGE 3 OF 8
THENCE, South 53°47'23" East, along said cutback line, a distance of 20.00 feet to the
southerly end of said cutback line at the northerly R.O.W. line of said F.M. 528;
THENCE, South 08°47'23" East, over and across said F.M. 528, a distance of 120.00 feet
to the southerly R.O.W. line of F.M. 528;
THENCE, North 81°12'37" East, along said southerly R.O.W. line, a distance of 403.47 feet
to a 5/8-inch iron rod found at the base of a concrete pad and marking the northwest corner
of said 28.9270 acre tract;
THENCE, South 08147'23" East, departing said southerly R.O.W. line and along the
common line of said 28.9270 acre tract and said 106.472 acre tract, a distance of 1,109.36
feet to an angle point;
THENCE, North 81°12'37" East, over and across said 28.9270 acre tract, a distance of
917.54 feet to an angle point;
THENCE. North 00156'05" West, continuing over and across said 28.9270 acre tract, a
distance of 18.06 feet to an angle point;
THENCE, North 08°47'24" West, continuing over and across said 28.9270 acre tract, a
distance of 156.86 feet to an angle point;
THENCE, North 68°47'23" West, continuing over and across said 28.9270 acre tract, a
distance of 30.04 feet to an angle point;
THENCE, North 46112'37" East, continuing over and across said 28.9270 acre tract, a
distance of 105.00 feet to the westerly R.O.W. line of said Harris County Flood Control
District Unit No. A114-00-00 (190' R.O.W.) as described by deeds recorded under
H.C.C.F. No(s). E449568 and X384682;
THENCE, South 08147'24" East, along said westerly R.O.W. line, a distance of 236.23 feet
to an angle point;
THENCE. South 00°56'05" East, continuing along said westerly R.O.W. line, a distance of
116.17 feet to an angle point;
THENCE, South 14"46'31" West, continuing along said westerly R.O.W. line, at 85.85 feet
passing the easterly common comer of said 28.9270 acre tract and said 10.0000 acre tract,
continuing in all for a total distance of 116.17 feet to an angle point:
150 W. Shadowbend Avenue, Suite #304 1 Friendswood, TX 77546
phone 281.648.3131 1 fax 281.648.3737 1 e-mail christran,r�t)oundiryone,cnin
T.B.P.L.S. Firm No. 10084800
REINVESTMENT ZONE NUMBER ONE, CITY OF FRIENDSWOOD, TEXAS 19
PRELIMINARY PROJECT AND FINANCE PLAN
boundary .
METES AND BOUNDS DESCRIPTION
124.612 ACRES (5,428,103 SO. FT.)
PAGE 4 OF 8
THENCE, South 3012910" West, continuing along said westerly R.O.W. line, a distance of
116.17 feet to an angle point:
THENCE, South 38120'29" West, continuing along said northwesterly R.O.W. line. a
distance of 568.63 feet to an angle point;
THENCE, South 58142'02" East, over and across said Harris County Flood Control District
Unit No. Al 14-00-00 (190' R.O.W.), a distance of 190.71 feet to the most northerly corner of
the aforesaid 1.2603 acre tract.
THENCE, South 58°44'41" East, along a northeasterly line of said 1.2603 acre tract, a
distance of 308.78 feet to a 5/8-inch iron rod with cap stamped "SUN SURVEYING" found
marking an angle point:
THENCE, South 70°03'17" East, along a northeasterly line of said 1.2603 acre tract, a
distance of 101.98 feet to a 5/8-inch iron rod with cap stamped "SUN SURVEYING" found
marking an angle point;
THENCE, South 58^44'41" East, along a northeasterly line of said 1.2603 acre tract, a
distance of 200.02 feet to a 5/8-inch iron rod with cap stamped "SUN SURVEYING" found
on the northwesterly R.O.W. line of said West Bay Area Boulevard (100 feet wide) and
marking an angle point;
THENCE, North 22°12'52" East, along said northwesterly R.O.W. line, a distance of 30.00
feet to an angle point;
THENCE, South 67°47'08" East, over and across said West Bay Area Boulevard, a
distance of 100.00 feet to the southeasterly R.O.W. line of West Bay Area Boulevard.
THENCE, South 22°12'52" West, along said southeasterly R.O.W. line. a distance of
375.00 feet to an angle point;
THENCE, North 67147'08" West, over and across said West Bay Area Boulevard, a
distance of 100.00 feet to the northwesterly R.O.W. line of West Bay Area Boulevard;
THENCE, North 2211752" East, along said northwesterly R.O.W. line, a distance of 243.74
feet to a 5/8-inch iron rod with cap stamped "SUN SURVEYING" found marking the most
southerly corner of said 1.2603 acre tract and for the most easterly comer of Lots 10 and
11, Block 1, AUTUMN CREEK SECTION NINE, a subdivision plat of record at Film Code
No. 497014. H.C.M.R.:
150 W. Shadowbend Avenue, Suite #304 1 Friendswood, TX 77546
phone 281.648.3131 1 fax 281.648.3737 1 e-mail chrtstian(a_1boundaryone com
T.B.P.L.S. Firm No. 10084800
REINVESTMENT ZONE NUMBER ONE, CITY OF FRIENDSWOOD, TEXAS 20
PRELIMINARY PROJECT AND FINANCE PLAN
boundary Awk
METES AND BOUNDS DESCRIPTION
124.612 ACRES (5,428,103 SQ. FT.)
PAGE 5 OF 8
THENCE, North 58°44'41" West, departing said northwesterly R.O.W. line and along the
common line of said 1,2603 acre tract and Lots 9 and 10, Block 1, AUTUMN CREEK
SECTION NINE, a distance of 634.66 feet to a 3/4-inch iron rod found marking the most
westerly comer of said 1.2603 acre tract;
THENCE, North 58°42'02" West, over and across said Harris County Flood Control District
Unit No. At14-00-00 (190' R.O.W.), a distance of 190.70 feet to the southeast line of the
aforesaid 10.0000 acre tract;
THENCE, South 38120'29" West, along said southeast line and northwesterly R.O.W.
line of said Harris County Flood Control District Unit No. A114-00-00 (190' R.O.W.), at
502.52 feet passing a 5/8-inch iron rod with cap stamped "RPLS 3974" found marking the
southerly common corner of said 10.000 acre tract and said 106.472 acre tract, continuing
in all for a total distance of 1,380.50 feet to the call meander line of mean higher water for
Clear Creek as per survey prepared by Stephen Blaskey, LSLS. dated October 9, 2015
and for the most southerly corner of the herein described tract;
THENCE, along said mean higher water line of Clear Creek, the following courses and
distances:
North 21 `17'29" West, a distance of 80.86 feet to an angle point;
North 04122'12" West, a distance of 216.80 feet to an angle point;
North 32141'57" West, a distance of 184.39 feet to an angle point;
North 51 °06'03" West, a distance of 159.93 feet to an angle point;
North 74103'08" West, a distance of 164.71 feet to an angle point;
South 48°02'49" West, a distance of 44.69 feet to an angle point;
North 73153'13" West, a distance of 47.50 feet to an angle point;
South 49`24'27" West, a distance of 89.87 feet to an angle point;
North 75114'40" West, a distance of 40.66 feet to an angle point;
150 W. Shadowbend Avenue, Suite #304 1 Friendswood, TX 77546
phone 281.648.3131 1 fax 281.648.3737 1 e-mail christianL,,boundarYone.com
T.B.P.L.S. Firm No. 10084800
REINVESTMENT ZONE NUMBER ONE, CITY OF FRIENDSWOOD, TEXAS 21
PRELIMINARY PROJECT AND FINANCE PLAN
Alk
boundary • -
METES AND BOUNDS DESCRIPTION
124.612 ACRES (5,428,103 SO. FT.)
PAGE 6 OF 8
South 43°53'50" West, a distance of 146.10 feet to an angle point;
South 25°05'22" West, a distance of 134.50 feet to an angle point;
South 83133'17" West, a distance of 49.30 feet to an angle point;
South 21 °22'27" West, a distance of 73.69 feet to an angle point;
North 77109'16" West, a distance of 62.96 feet to an angle point;
South 59148'42" West, a distance of 48.72 feet to an angle point;
North 76129'09" West, a distance of 56.65 feet to an angle point;
North 88°56'38" West, a distance of 120.31 feet to an angle point:
North 78"01'47" West, a distance of 221.29 feet to an angle point:
North 67113'30" West, a distance of 112.00 feet to an angle point:
North 50146'11" West, a distance of 258.04 feet to an angle point:
North 16100'41" West, a distance of 99.00 feet to an angle point:
North 05°32'33" West, a distance of 60.42 feet to an angle point;
North 23°27'30" East, a distance of 67.18 feet to an angle point;
North 39120'14" East, a distance of 42.52 feet to an angle point;
North 59'56'00" East, a distance of 35.59 feet to an angle point;
South 84°03'09" East, a distance of 25.53 feet to an angle point;
South 63121'49" East, a distance of 25.66 feet to an angle point;
North 23123'59" East, a distance of 84.42 feet to an angle point;
150 W. Shadowbend Avenue, Suite #304 1 Friendswood, TX 77546
phone 281.648.3131 1 fax 281.6,48.3737 1 e-mail Christian boundarvone.com
T. B. P. L. S. Firm No. 10084800
REINVESTMENT ZONE NUMBER ONE, CITY OF FRIENDSWOOD, TEXAS 22
PRELIMINARY PROJECT AND FINANCE PLAN
2 •. U6'h"
METES AND BOUNDS DESCRIPTION
124.612 ACRES (5,428,103 SO. FT.)
PAGE 7 OF 8
North 27'29'30" East, a distance of 63.48 feet to an angle point;
North 19102'35" East, a distance of 103.93 feet to an angle point;
North 14138'12" East, a distance of 53.72 feet to an angle point;
North 13122'21" West, a distance of 9.00 feet to an angle point;
North 15104'35" East, a distance of 70.83 feet to an angle point:
North 31 °32'46" West, a distance of 52.49 feet to an angle point;
North 21140'27" West, a distance of 75.23 feet to an angle point;
North 29157'57" West, a distance of 10.93 feet to an angle point;
North 35'55'50" West, a distance of 91.39 feet to a southerly corner of Restricted
Reserve "D", CLEAR CREEK COMMUNITY CHURCH;
THENCE, North 20'09'13" East, departing said mean higher high water line of Clear Creek and
along the common line of said Restricted Reserves "C" and "D". CLEAR CREEK COMMUNITY
CHURCH. a distance of 208.95 feet to a 5/8-inch iron rod with cap stamped "BOUNDARY ONE-
RPLS 5489" set marking the most southerly corner of said Restricted Reserve "B" and for an
angle point;
THENCE, North 08°44'05" West, along the common line of said Restricted Reserves "B" and
"C", CLEAR CREEK COMMUNITY CHURCH, at 608.49 feet passing the westerly common
corner of said Restricted Reserves "A" and "C", continuing along a common line of said
Restricted Reserves "A" and "B" for a total distance of 854.44 feet to a 5/8-inch iron rod with cap
stamped "BOUNDARY ONE-RPLS 5489" set marking a common comer of said Restricted
Reserves "A" and "B" and for an angle point;
THENCE, South 81'13'21" West, continuing along a common line of said Restricted Reserves
"A" and "B", CLEAR CREEK COMMUNITY CHURCH, a distance of 185.80 feet to a 5/8-inch
iron rod with cap stamped "BOUNDARY ONE-RPLS 5489" set marking a common corner of
said Restricted Reserves "A" and "B" and for an angle point:
150 W. Shadowbend Avenue, Suite #304 1 Friendswood, TX 77546
phone 281.648.3131 1 fax 281.648.3737 1 e-mail chh_ristian=bgundaryone,curn
T.B.P.L.S. Firm No. 10084800
REINVESTMENT ZONE NUMBER ONE, CITY OF FRIENDSWOOD, TEXAS 23
PRELIMINARY PROJECT AND FINANCE PLAN
boundary a
METES AND BOUNDS DESCRIPTION
124.612 ACRES (5,428,103 SO. FT )
PAGE 7 OF 8
THENCE, North 18'29'00" West. continuing along a common line of said Restricted Reserves
A" and 'B' CLEAR CREEK COMMUNITY CHURCH. a distance of 211 51 feet to the POINT
OF BEGINNING and containing 124.612 acres (5.428,103 square feet) of land. This description
is based upon a Land Title Survey of 106.472 Acres cf land prepared by Boundary One.. LLC.
Project Number 6767-2209-657G.
Compiled by. Christian Offenburger, R.P.L.S
Boundary One, L.L.C.
T.B.P.L.S Firm No. 10084800
150 W. Shadowbend, Suite 304
Friendswood. TX 77546
(281) 648-3131
www.boundaryone.com
November 2 2023
Mb124612.docx
150 W. Shadowbend Avenue, Suite #304 ! Friendswood, TX 77546
phone 281.648.3131 I fax 281.648,3737 I e-mail christianr.;,boundaryone.corn
T.B.P.L.S. Firm No. 10084800
REINVESTMENT ZONE NUMBER ONE, CITY OF FRIENDSWOOD, TEXAS 24
PRELIMINARY PROJECT AND FINANCE PLAN
EXHIBIT G - PROPOSED USES OF THE PROPERTY
uJ HOTEL 1 120 ROOMS
O RETAIL 165,500 SF
O OFFICE 1 191,000 SF
C� MIXED USE 1311.000 SF
GARAGE 1 1,215 PARKING SPACES
O APARTMENTS 1 500 UNITS FM 528
- -LOT7 JP CLOT 2"
1b8A
r �. y •,
„ p 0 700
F • % 14,000 SIF
OT
s P Ll- y r r
_ ..Jar..
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TANNOS
DEVELOPMENT GROUP LLC a '
REINVESTMENT ZONE NUMBER ONE, CITY OF FRIENDSWOOD, TEXAS
PRELIMINARY PROJECT AND FINANCE PLAN
528 FRIENDSWOOD `*�V
CITY CENTER Ge►1
SITE PLAN
EXHIBIT H - MAP OF THE PUBLIC IMPROVEMENTS
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REINVESTMENT ZONE NUMBER ONE, CITY OF FRIENDSWOOD, TEXAS 26
PRELIMINARY PROJECT AND FINANCE PLAN
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PRELIMINARY PROJECT AND FINANCE PLAN
REINVESTMENT ZONE NUMBER ONE, CITY OF FRIENDSWOOD, TEXAS 32
PRELIMINARY PROJECT AND FINANCE PLAN
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REINVESTMENT ZONE NUMBER ONE, CITY OF FRIENDSWOOD, TEXAS 33
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REINVESTMENT ZONE NUMBER ONE, CITY OF FRIENDSWOOD, TEXAS 34
PRELIMINARY PROJECT AND FINANCE PLAN
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REINVESTMENT ZONE NUMBER ONE, CITY OF FRIENDSWOOD, TEXAS 36
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