HomeMy WebLinkAboutOrdinance No. 2024-17 ORDINANCE NO. 2024-17
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF FRIENDSWOOD,
TEXAS, DESIGNATING A CONTIGUOUS GEOGRAPHIC AREA WITHIN THE
CITY GENERALLY LOCATED ALONG FM 528/W. PARKWOOD AVENUE AT
THE INTERSECTION OF FRIENDSWOOD PARKWAY, EXTENDING
NORTHWEST TO THE CITY LIMITS AND SOUTHWEST OF BAKER ROAD
AND ALSO INCLUDING THREE OF THE FOUR CORNER TRACTS AT THE
INTERSECTION OF FM 528/W. PARKWOOD AVENUE AND FRIENDSWOOD
PARKWAY AS A REINVESTMENT ZONE PURSUANT TO CHAPTER 311 OF
THE TEXAS TAX CODE,TO BE KNOWN AS REINVESTMENT ZONE NUMBER
TWO, 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 DESIGNATION 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, pursuant to the authority of Article VIII, Section 1-g of the Texas Constitution,
the Texas Legislature adopted Chapter 311 of the Texas Tax Code, the Tax Increment Financing Act
(as amended from time to time,the "Act"); and
WHEREAS, the City of Friendswood, Texas (the "City"),pursuant to the Act, may designate
a geographic area within the City as a reinvestment zone if the area satisfies the requirements of the
Act; and
WHEREAS, Section 311.003(a)of 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,Section 311.005(a)(2)of the Act provides that,to be designated as a reinvestment
zone, an area must be predominantly open or undeveloped and, because of obsolete platting,
deterioration of structures or site improvements, or other factors, substantially impair or arrest the
sound growth of the municipality;and
WHEREAS,the City Council of the City(the "City Council")desires for the City to consider
the designation of a reinvestment zone with the boundaries described and depicted in Exhibit "A,"
which is attached hereto and incorporated herein for all intents and purposes (the "Proposed Zone");
and
WHEREAS, the City Council hereby finds, determines and declares that property within the
Proposed Zone,portions of which were formerly an oil field,is located along the southeastern edge of
the City; and
WHEREAS, the City Council hereby finds, determines and declares that the Proposed Zone
meets the criteria and requirements for the designation of a reinvestment zone set forth in Section
311.005(a)(2) of the Act because the area is predominately open and undeveloped and, because of
factors including the lack of public infrastructure, including, but not limited to, the absence of an
adequate roadway network,the absence of a regional lift station,and the insufficiency of existing force
main and water lines, which cause water pressure issues during peak demand, and the barriers to
development presented by the former use of portions of the property as an oil field, substantially
impairs or arrests the sound growth of the City;
WHEREAS, the City Council hereby finds, determines and declares that various corporations
and developers have studied the property within the Proposed Zone for possible development,
including,but not limited to,the national supermarket chain Kroger,the multinational retailer Walmart,
and the global real estate development company Hines, but none of these corporations or developers
has pursued the development of the area in the Proposed Zone due to factors including the lack of
public infrastructure and the substantial cost to construct the same; and
WHEREAS, the City Council hereby finds, determines and declares that no developer has
approached or likely will approach the City to apply for permits to develop property within the
Proposed Zone due to the aforementioned lack of public infrastructure and cost to construct the same
as well as barriers to development presented by the former use of portions of the property within the
Proposed Zone as an oil field;and
WHEREAS, the City Council hereby fmds, determines and declares that development or
redevelopment will not occur within the Proposed Zone solely through private investment in the
reasonably foreseeable future; and
WHEREAS, pursuant to and as required by Section 311.003(b) of the Act, the City Council
has prepared a preliminary reinvestment zone financing plan for the Proposed Zone dated June 3,2024,
which is attached hereto as Exhibit "B" and incorporated herein for all intents and purposes (the
"Preliminary Plan"); and
WHEREAS,notice of an initial public hearing on the creation of the Proposed Zone(the"First
Public Hearing")was published in The Reporter News,a newspaper of general circulation in the City,
on April 17,2024,which date is on or before the seventh(7th)day before the First Public Hearing held
on May 6, 2024, and posted on the City's notice boards and website on April 17,2024; and
WHEREAS, on May 6,2024,the City Council opened the First 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 Proposed Zone,the boundaries of the Proposed 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 Proposed Zone; and
WHEREAS,after all comments and evidence,both written and oral, were received by the City
Council,the First Public Hearing was closed on May 6, 2024; and
WHEREAS, notice of a second public hearing on the creation of the Proposed Zone (the
"Second Public Hearing")was published in The Reporter News,a newspaper of general circulation in
the City, on May 15, 2024, which date is on or before the seventh(7th) day before the Second Public
Hearing held on June 3,2024,and posted on the City's notice boards and website on May 7,2024;and
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WHEREAS, on June 3, 2024, the City Council opened the Second 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 Proposed Zone,the boundaries of the Proposed 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 Proposed Zone; and
WHEREAS,after all comments and evidence,both written and oral,were received by the City
Council, the Second Public Hearing was closed on June 3,2024; and
WHEREAS, the First Public Hearing and the Second Public Hearing were each noticed and
held in full accordance with Section 311.003(c)of the Act;and
WHEREAS,the City has taken all actions required to designate the Proposed Zone including,
but not limited to,all actions required by the Act and all other laws applicable to the designation of the
Proposed 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,the City intends to participate in the Proposed Zone by contributing tax increment
to the tax increment fund for the Proposed Zone from taxes levied and collected by the City at one
hundred percent (100%) of its tax rate for the thirty (30) years of the Proposed Zone; NOW
THEREFORE,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FRIENDSWOOD,STATE
OF TEXAS:
Section 1. Recitals, Facts, Findings and Determinations Incorporated. The recitations,
facts, findings and determination 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 and Determinations. That the City Council, after conducting the
above-described First Public Hearing and Second Public Hearing, and having heard the evidence and
testimony presented at the First Public Hearing and Second Public Hearing,and having considered the
history of the area within the Proposed Zone, has made the following findings and determinations
based on the evidence and testimony presented to it:
(a) That the First Public Hearing and the Second Public Hearing on the creation of the
Proposed Zone each have been properly called, held and conducted and that notice of
such First Public Hearing and notice of such Second Public Hearing each have been
published as required by applicable law, including the Act;
(b) That designation of the Proposed Zone with boundaries as described and depicted in
Exhibit "A" will result in benefits to the City, its residents and property owners, in
general, and to the property,residents and property owners in the Proposed Zone;
(c) That, in accordance with the requirements of Section 311.004(a)(7)(B)of the Act,the
Proposed Zone, a geographic area located wholly within the City, as described and
3
depicted in Exhibit "A," meets the criteria and requirements for the designation of a
reinvestment zone set forth in Section 311.005(a)(2) of the Act because the area is
predominately open and undeveloped and, because of factors including the lack of
public infrastructure and the barriers to development presented by the former use of
portions of the property as an oil field,substantially impairs or arrests the sound growth
of the City;
(d) That, in accordance with the requirements of Section 311.006(a)(1) of the Act, thirty
percent(30%) or less of the property in the Proposed Zone, excluding property that is
publicly owned, is used for residential purposes, as that term is defined in Section
311.006(d) of the Act;
(e) That, in accordance with the requirements of Section 311.006(a)(2)(B) of the Act, the
total appraised value of taxable real property in the Proposed Zone and in the City's
existing reinvestment zones,does not exceed fifty percent(50%)of the total appraised
value of taxable real property in the City and in the industrial districts created by the
City;
(f) That, in accordance with the requirements of Section 311.004(7)(A) of the Act, the
improvements in the Proposed Zone will significantly enhance the value of all taxable
real property in the Proposed Zone and will be of general benefit to the City;
(g) That various corporations and developers have studied the property within the
Proposed Zone for possible development, including, but not limited to the national
supermarket chain Kroger,the multinational retailer Walmart,and the global real estate
development company Hines,but none of these corporations or developers has pursued
the development of the area in the Proposed Zone due to factors including the lack of
public infrastructure and the substantial cost to construct the same;
(h) That no developer has approached or likely will approach the City to apply for permits
to develop property within the Proposed Zone due to the aforementioned lack of public
infrastructure and cost to construct the same as well as barriers to development
presented by the former use of portions of the property within the Proposed Zone as an
oil field;
(i) That development or redevelopment of the property in the Proposed Zone will not
occur solely through private investment in the reasonably foreseeable future;
(j) That the City Council has prepared the Preliminary Plan prior to the execution of this
ordinance; and
(k) That the Preliminary 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 Exhibit "A" hereto as a reinvestment zone. The name assigned to the reinvestment
zone for identification is Reinvestment Zone Number Two, City of Friendswood(the"Zone").
Section 4. Board of Directors.
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(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 Section 311.011 of 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 the 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:
I. 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 chair 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 chair for a term of one year that begins on January 1 of the year. If
the City Council does not appoint a chair during that period,the Mayor is automatically
appointed to serve as chair for the term that begins on January 1 of the following year.
The Board may elect a vice-chair to preside in the absence of the chair or when there
is a vacancy in the office of chair. 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
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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, 2054; 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, 2024, 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 one hundred percent (100%) 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.
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INTRODUCED, READ AND PASSED on first and final reading by the affirmative vote of
the City Council of the City of Friendswood on this the 3'i day of June,2024.
KE F ,Mayor
ATTEST:
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APPROVED AS TO FORM: !y
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Exhibit "B"
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REINVESTMENT ZONE NUMBER TWO,
CITY OF FRIENDSWOOD
PRELIMINARY REINVESTMENT ZONE FINANCING PLAN
J U N E 3, 2024
TABLE OF CONTENTS
Table of Contents 1
Section 1: Definitions 2
Section 2: Introduction 4
Section 3: Description and Maps 6
Section 4: Proposed Changes to Ordinances, Plans, Codes, Rules, and Regulations 7
Section 5: Relocation of Displaced Persons 7
Section 6: Estimated Non-Project Costs 7
Section 7: Proposed Public Improvements 7
Section 8: Estimated Project Costs 8
Section 9: Economic Feasibility 8
Section 10: Estimated Bonded Indebtedness 9
Section 11: Appraised Value 9
Section 12: Method of Financing 9
Section 13: Duration of the Zone,Termination 10
List of Exhibits 11
Exhibit A—Map of the Zone 12
Exhibit B—Non-Project Costs 13
Exhibit C—Project Costs 14
Exhibit D—Estimated Timeline of Incurred Costs 16
Exhibit E—Feasibility Study 17
Exhibit F—Proposed Uses of the Property 19
Exhibit G—Map of the Public Improvements 20
Exhibit H—Parcel Identification 21
REINVESTMENT ZONE NUMBER TWO,CITY OF FRIENDSWOOD 1
PRELIMINARY REINVESTMENT ZONE FINANCING PLAN
SECTION 1: DEFINITIONS
Capitalized terms used in this Preliminary Plan (as that term is defined herein) shall have the
meanings given to them in Section I 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 Galveston 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 Council" means the governing body of the City.
"City TIRZ Increment" means one-hundred percent (100%) 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.
"Designation Ordinance" means Ordinance No. adopted by the City Council on June 3,
2024.
"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 Two, 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.
REINVESTMENT ZONE NUMBER TWO,CITY OF FRIENDSWOOD 2
PRELIMINARY REINVESTMENT ZONE FINANCING PLAN
"Preliminary Plan" means this Reinvestment Zone Number Two, City of Friendswood Preliminary
Reinvestment Zone Financing 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 326.52 acres of land as depicted on Exhibit A and identified on Exhibit H.
"Public Improvements" means the proposed public improvements to be financed by the Zone,
which includes streets, detention, water, sanitary sewer, sanitary lift stations, clearing &
grubbing, earthwork, paving & grading, landscaping, intersection signalization, storm drainage,
street lights, public fire water loop, contingency,and professional services,as depicted on Exhibit
G, and detailed on Exhibit C.
"TIRZ Agreement" means a Reinvestment Zone Number Two, City of Friendswood (TIRZ)
Agreement, entered into as negotiated by the City.
"Tax Increment Base" means total appraised value of taxable real property in the Zone at the
time of designation of the Zone, as calculated and certified by the Appraisal District.
"TIRZ Fund" means the tax increment fund created and established by the City for the Zone and
segregated from all other funds of the City.
"Zone" means Reinvestment Zone Number Two, City of Friendswood, as depicted on Exhibit A,
and described on Exhibit F.
REINVESTMENT ZONE NUMBER TWO,CITY OF FRIENDSWOOD 3
PRELIMINARY REINVESTMENT ZONE FINANCING PLAN
SECTION 2: INTRODUCTION
1.1 Authority and Purpose
The City Council 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
reinvestment zone to promote development or redevelopment of the area if the City Council
determines that development or redevelopment would not occur solely through private
investment in the reasonably foreseeable future. As further described in this Preliminary Plan,
development or redevelopment within the proposed Zone would not occur solely through private
investment in the reasonably foreseeable future,the proposed Zone is economically feasible,and
designation of the proposed Zone is in the best interest of the City and the Property within the
proposed Zone.
The purpose of the proposed Zone is to facilitate such development or redevelopment by
financing the costs of public works, public improvements, programs, and other projects
benefiting the proposed Zone, plus other costs incidental to those expenditures,all of which costs
are authorized by the Act.
1.2 Eligibility Requirements
An area is eligible under Section 311.005(a) of the Act to be designated as a reinvestment zone if
the area:
1) substantially arrests or impairs the sound growth of the municipality designating the
Zone, retards 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 because of the presence of certain factors enumerated in Section
311.005(a)(1)(A)-(I) of the Act; 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.
REINVESTMENT ZONE NUMBER TWO,CITY OF FRIENDSWOOD 4
PRELIMINARY REINVESTMENT ZONE FINANCING PLAN
The City cannot, however, designate a reinvestment zone if more than thirty percent (30%) of
the property in the proposed zone, excluding property that is publicly owned, is used for
residential purposes,or if the total appraised value of taxable real property in the proposed zone
and in existing reinvestment zones exceeds fifty percent (50%) of the total appraised value of
taxable real property in the City and in industrial districts created by the City.
1.3 Proposed Zone
The Property within the proposed Zone is currently located within the corporate limits of the
City. The Property is predominately open and undeveloped and, because of factors including the
lack of public infrastructure, including, but not limited to, the absence of an adequate roadway
network, the absence of a regional lift station, and the insufficiency of existing force main and
water lines, which cause water pressure issues during peak demand, and the barriers to
development presented by the former use of portions of the Property as an oil field,substantially
impairs or arrests the sound growth of the City.
Various corporations and developers have studied the Property within the proposed Zone for
possible development, including, but not limited to, the national supermarket chain Kroger, the
multinational retailer Walmart, and the global real estate development company Hines, but none
of these corporations or developers has pursued the development of the area within the
proposed Zone due to factors including the lack of public infrastructure and the substantial cost
to construct the same.
No developer has approached or likely will approach the City to apply for permits to develop the
Property within the proposed Zone due to the aforementioned lack of public infrastructure and
cost to construct the same as well as barriers to development presented by the former use of
portions of the Property within the proposed Zone as an oil field.
Due to its size, location, and physical characteristics, including the lack of public infrastructure
and the barriers to development presented by the former use of portions of the Property as an
oil field, and due to the substantial cost to construct the necessary public infrastructure,
development of the Property within the proposed Zone will not occur solely through private
investment in the foreseeable future. Because of the aforementioned characteristics, economic
incentives are necessary to attract development for the purpose of providing long-term
economic benefits, including, but not limited to, an 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.
REINVESTMENT ZONE NUMBER TWO,CITY OF FRIENDSWOOD 5
PRELIMINARY REINVESTMENT ZONE FINANCING PLAN
1.4 Preliminary Plan and Hearing
Before the City Council adopts the Designation Ordinance, the City Council must prepare a
preliminary reinvestment zone financing plan in accordance with Section 311.003(b) of the Act
and hold a public hearing on the creation of the Zone and its benefits to the City and to the
Property in accordance with Section 311.003(c) of the Act, 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 financing
plan is satisfied by this Preliminary Plan, the purpose of which is to describe, in general terms,
the Public Improvements that will be undertaken and financed by the Zone.A description of how
such Public Improvements and projects will be undertaken and financed shall be determined by
the Final Plan, which requires approval by the Board and City Council.
Following the public hearing, the City Council shall consider the Designation Ordinance, which
shall include certain findings, including but not limited to findings that the Zone meets the criteria
and requirements for designation of a reinvestment zone under the applicable provisions of the
Act, as well as all other provisions required by the Act.
1.5 Designation of the Zone
After the designation of the Zone, the Board shall review the Final Plan and recommend its
approval to the City Council, pursuant to which the City shall contribute the City TIRZ Increment
into the TIRZ Fund to pay a portion of the Project Costs benefiting the Zone.
SECTION 3: DESCRIPTION AND MAPS
3.1 Existing Uses and Conditions
The Property is currently zoned Commercial Shopping Center and Single Family Residential and
is intended to be developed with commercial and residential uses. Portions of the Property were
formerly used as an oil field, which creates barriers to development. The Property is
undeveloped, and there is limited public infrastructure to support development, including, but
not limited to, the absence of an adequate roadway network, the absence of a regional lift
station, and the insufficiency of existing force main and water lines, which cause water pressure
issues during peak demand. Development requires extensive public infrastructure that (1) the
City could not provide, and (2) would not be provided solely through private investment in the
reasonably foreseeable future.
REINVESTMENT ZONE NUMBER TWO,CITY OF FRIENDSWOOD 6
PRELIMINARY REINVESTMENT ZONE FINANCING PLAN
3.2 Proposed Uses
The proposed uses of the Property in the City include retail, commercial, office, and single family
residential 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 Commercial Shopping Center and Single
Family Residential. 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 designation of the Zone or due
to the implementation of the Final 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 $511,179,621.
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 G. These
locations may be revised, with the approval of the City, from time to time without amending the
Final Plan.
REINVESTMENT ZONE NUMBER TWO,CITY OF FRIENDSWOOD 7
PRELIMINARY REINVESTMENT ZONE FINANCING PLAN
SECTION 8: ESTIMATED PROJECT COSTS
8.1 Project Costs
The total costs are estimated to be $103,067,790, as shown below and detailed on Exhibit C.The
costs of Public Improvements are estimated to be $97,863,525, and the Administrative Costs are
estimated to be $5,204,265.
8.2 Administrative Costs
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 2025
and 2030, as shown on Exhibit D.
r
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 generated from development within the Zone). Based on the Feasibility
Study, during the term of the Zone, new development, which would not occur solely through
private investment in the reasonably foreseeable future, will generate approximately
$104,085,290 in total new real property tax revenue for the City over the remaining term of the
Zone.
The City shall participate at 100% for the term of the Zone. The Feasibility Study shows that the
cumulative City TIRZ Increment is estimated to be $104,085,290, which will be available to pay a
portion of the Project Costs, until the term of the Zone expires or is otherwise terminated. The
cumulative City TIRZ Increment set forth in the Feasibility Study exceeds the estimated Project Costs
and will be generated in amounts sufficient to fund the Project Costs as and when such Project Costs are
incurred during the term of the Zone. The remainder of the new City real property tax revenue
generated within the Zone and retained by the City is estimated to be $0 over the term of the
Zone.
Based on the foregoing, the economic 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.
REINVESTMENT ZONE NUMBER TWO,CITY OF FRIENDSWOOD 8
PRELIMINARY REINVESTMENT ZONE FINANCING PLAN
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 $7,301,296 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 $915,649,292, 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
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
The Final Plan shall obligate the City to deposit into the TIRZ Fund each year 100% of 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, so the City would contribute $0.500728 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
basis as follows:
1. For the reasonable Administrative Costs of the Zone; then
2. To the allocation for the annual payments of debt service of any tax increment
bonds issued to fund the Public Improvements; then
3. To be used in any other manner authorized by the City and as allowed pursuant
to the Act, including for payments by the City to any third party for the Project
Costs under any future agreement between the City and the third party entered
into pursuant to Chapter 372 and Chapter 380, Texas Local Government Code, as
amended; then
REINVESTMENT ZONE NUMBER TWO,CITY OF FRIENDSWOOD 9
PRELIMINARY REINVESTMENT ZONE FINANCING PLAN
4. To the extent there are TIRZ Fund revenues remaining, any excess TIRZ Fund
revenues 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 future TIRZ Agreements, including but not limited to amending the categories
and amounts of Project Costs set forth in the Final Plan.
SECTION 13: DURATION OF THE ZONE, TERMINATION
13.1 Duration
The stated term of the Zone shall commence upon the execution of the Designation Ordinance
and shall continue until December 31, 2054,with the last payment being due byJanuary 31, 2055,
unless otherwise terminated in accordance with the Designation Ordinance.
13.2 Termination
The Zone shall terminate on the earlier of (i) December 31, 2054, 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 TWO,CITY OF FRIENDSWOOD 10
PRELIMINARY REINVESTMENT ZONE FINANCING 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 Proposed Uses of the Property
Exhibit G Map of the Public Improvements
Exhibit H Parcel Indentification
imuleimmonw
REINVESTMENT ZONE NUMBER TWO,CITY OF FRIENDSWOOD 11
PRELIMINARY REINVESTMENT ZONE FINANCING PLAN
r- EXHIBIT A— MAP OF THE ZONE
tuts Phas.a
Nbk 5 C. ' 1
Baker Road 12'Water Line(2025 t
O Frtenraswood Parkway 16"Water Line(2030t
ID 1.31ca Ft1raal Of
i Q North Eagle Creek 12'Water L ne(2030)
j __,I i — The Estates at Wlldemess T-aPs 12024)
I
5 a - Castle at Names Way(20241
iFalling Leaf Ranch i 2025)
�, ' m t,
o em�w Future Botysu Property Development(2027i
& /.....,....
Future Wlschnewsky Property Development(20301
ri Friendsw003 Parkway Final Build(2030) µ Ewa t
/ /
ails �► _..............................:._ Nirn,\„,,h .
♦ - j
♦♦ a solos f S — c
♦ _ I - _
♦ i _
- _
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♦♦ 7. 1 ! I 10sliis
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Boundary • x
Acreage: ',
326.52
♦
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♦
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c.
Excluded ♦♦♦ z4 Y`'r
Streets ♦
♦ Ian(.,nn neney Mars fOntntertors.1 ey of for‘I1s a.Xr. a't*r,err.n ,;•ii I m I .,
r--a $
s-:s City l_in'itS ♦ 6/am inur♦glrarn'Gatn(,yaph Gee tncb ins MI'.irh ♦A IN:`.c Nht t♦r•WoosE .
♦ c
3/211292♦2:34 aM S
REINVESTMENT ZONE NUMBER TWO,CITY OF FRIENDSWOOD
12
PRELIMINARY REINVESTMENT ZONE FINANCING PLAN
EXHIBIT B - NON-PROJECT COSTS
Lot Valuel'i Buildout Value121
Units/
Lot Type Sq.Ft. Per Unit Total Per Unit Total Non-Project Costs
Future Wischnewsky Property
Commercial 300,000 $ 28 $ 8,400,000 $ 618 $ 185,400,000 $ 177,000,000
Single Family 30 $ 450,000 $ 13,500,000 $ 2,000,000 $ 60,000,000 $ 46,500,000
Subtotal 300,030 $ 223,500,000
Future Bofysil Property
Single Family 60 $ 70,000 $ 4,200,000 $ 400,000 $ 24,000,000 $ 19,800,000
Commercial 75,000 $ 28 $ 2,100,000 $ 550 $ 41,250,000 $ 39,150,000
Subtotal 75,060 $ 58,950,000
Falling Leaf Ranch
Single Family 37 $ 450,000 $ 16,650,000 $ 2,000,000 $ 74,000,000 $ 57,350,000
Subtotal 37 $ 57,350,000
The Estates at Wildnerness Trails
Single Family 41 $ 450,000 $ 18,450,000 $ 2,000,000 $ 82,000,000 $ 63,550,000
Subtotal 41 $ 63,550,000
Castle Bioscience
Commercial 80,000 $ 28 $ 2,240,000 $ 618 $ 49,440,000 $ 47,200,000
Retail 30,000 $ 124 $ 3,710,379 $ 550 $ 16,500,000 $ 12,789,621
Office 80,000 $ 20 $ 1,600,000 $ 618 $ 49,440,000 $ 47,840,000
Subtotal 190,000 $ 107,829,621
Total 565,168 $ 511,179,621
Footnotes:
[a]Values and Units/Sq.Ft.as provided by the City on April 29,2024 and May 3,2024.May not be representative of this area or this development.
REINVESTMENT ZONE NUMBER TWO,CITY OF FRIENDSWOOD 13
PRELIMINARY REINVESTMENT ZONE FINANCING PLAN
EXHIBIT C- PROJECT COSTS
Reinvestment Zone Number Two,City of Friendswood,Texas
Project Costs
Item Cost
City Public Improvements
Baker Road 12"Water Line $ 2,744,712
Friendswood Parkway 16"Water Line $ 10,836,619
Friendswood Parkway $ 7,074,373
North Eagle Creek 12"Water Line $ 1,372,356
Subtotal $ 22,028,060
The Estates at Wilderness Trails
Site Preparation $ 660,615
Friendswood Parkway $ 1,904,897
Clearing,Grubbing&Demolition $ 100,496
Earthwork,Paving&Grading $ 1,917,508
Water Distribution System $ 1,268,400
Storm Drainage $ 570,000
Detention $ 439,669
Sanitary Sewer System $ 2,736,810
Sanitary Lift Station $ 1,600,000
Striping&Signage $ 100,000
Street Lights $ 50,000
Contingency $ 2,252,241
Soft Costs $ 2,765,499
Subtotal $ 16,366,135
Falling Leaf Ranch
Site Preparation $ 777,194
Friendswood Parkway $ 3,081,466
Clearing,Grubbing&Demolition $ 150,744
Earthwork,Paving&Grading $ 2,739,298
Water Distribution System $ 2,265,000
Storm Drainage $ 883,500
Detention $ 681,488
Sanitary Sewer System $ 4,045,719
Striping&Signage $ 100,000
Street Lights $ 50,000
Contingency $ 2,943,724
Soft Costs $ 3,626,684
Subtotal $ 21,344,817
Future Bofysil Property
Site Preparation $ 738,334
Clearing,Grubbing&Demolition $ 50,248
Earthwork,Paving&Grading $ 913,099
Water Distribution System $ 453,000
Storm Drainage $ 313,500
Detention $ 241,818
Sanitary Sewer System $ 1,665,884
Contingency $ 881,458
Soft Costs $ 1,089,154
Subtotal $ 6,346,495
REINVESTMENT ZONE NUMBER TWO,CITY OF FRIENDSWOOD 14
PRELIMINARY REINVESTMENT ZONE FINANCING PLAN
Reinvestment Zone Number Two,City of Friendswood,Texas
Project Costs
Item Cost
Future Wischnewsky Property
Site Preparation $ 777,194
Friendswood Parkway $ 7,493,597
Clearing,Grubbing&Demolition $ 125,620
Earthwork,Paving&Grading $ 2,374,058
Water Distribution System $ 1,812,000
Storm Drainage $ 741,000
Detention $ 571,570
Sanitary Sewer System $ 3,450,760
Sanitary Lift Station $ 1,600,000
Striping&Signage $ 100,000
Street Lights $ 50,000
Contingency $ 3,804,862
Soft Costs $ 4,644,347
Subtotal $ 27,545,008
Castle Bioscience Projects
Site Preparation $ 505,176
Earthwork,Paving&Grading $ 1,187,029
Clearing,Grubbing&Site Preparation $ 60,298
Water Distribution System $ 543,600
Storm Drainage $ 342,000
Detention $ 263,802
Contingency $ 587,918
Soft Costs $ 743,187
Subtotal $ 4,233,010
Subtotal Public Improvementslal $ 97,863,525
Administrative Costs $ 5,204,265
Total Project Costs $ 103,067,790
Footnotes:
[a]As identified by the City,based on the City Engineer's Opinion of Probable
Cost in May 2024.
REINVESTMENT ZONE NUMBER TWO,CITY OF FRIENDSWOOD 15
PRELIMINARY REINVESTMENT ZONE FINANCING PLAN
EXHIBIT D - ESTIMATED TIMELINE OF INCURRED COSTS
Reinvestment Zone Number Two,City of Friendswood,Texas
Timeline to Incur Project Costs
The Estates at Wilderness
Zone Calendar City Project Costs Trail Falling Leaf Ranch Future Bofysil Property Future Wischnewsky Property Castle Bioscience at Namia Way Total Project Costsl'I
Year Year Annual Cumulative Annual Cumulative Annual Cumulative Annual Cumulative Annual Cumulative Annual Cumulative Annual Cumulative
Base 2024 $ - $ - $16,366,135 $16,366,135 $ - $ - $ - $ - $ - $ - $ 4,233,010 $ 4,233,010 $ 20,599,145 $20,599,145
1 2025 $ 2,744,712 $ 2,744,712 $ - $16,366,135 $21,344,817 $21,344,817 $ - $ - $ - $ - $ - $ 4,233,010 $ 24,089,529 44,688,674
2 2026 $ - $ 2,744,712 $ - $16,366,135 $ - $21,344,817 $ - $ - $ - S - $ - $ 4,233,010 $ - 44,688,674
3 2027 $ - $ 2,744,712 $ - $16,366,135 $ - $21,344,817 $6,346,495 $6,346,495 $ - $ - $ - $ 4,233,010 $ 6,346,495 51,035,169
4 2028 $ - $ 2,744,712 $ - $16,366,135 $ - $21,344,817 $ - $6,346,495 $ - $ - $ - $ 4,233,010 $ - 51,035,169
5 2029 $ - $ 2,744,712 $ - $16,366,135 $ - 5 21,344,817 $ - $6,346,495 $ - 5 - $ - $ 4,233,010 $ - 51,035,169
6 2030 5 19,283,348 $22,028,060 $ - $16,366,135 $ - $21,344,817 $ - $6,346,495 $27,545,008 $27,545,008 $ - $ 4,233,010 $ 46,828,356 97,863,525
Total $22,028,060 $16,366,135 $21,344,817 $6,346,495 $27,545,008 $ 4,233,010 $ 97,863,525
Footnotes:
ja]Does not illustrate Administrative Costs,which shall be incurred annually for the duration of the Zone.
REINVESTMENT ZONE NUMBER TWO,CITY OF FRIENDSWOOD 16
PRELIMINARY REINVESTMENT ZONE FINANCING PLAN
EXHIBIT E — FEASIBILITY STUDY
As set forth in the table of revenue projections below, during the term of the Zone, City TIRZ Increment will be
generated in amounts sufficient to fund the Project Costs set forth in Exhibit C as and when such Project Costs are
incurred.
REINVESTMENT ZONE NUMBER TWO,CITY OF FRIENDSWOOD
17
PRELIMINARY REINVESTMENT ZONE FINANCING PLAN
Reinvestment Zone Number Two,City of Friendswood,Texas
Feasibility Study
Zone Tax Growth/ Added Development TIRZ Fund Contribution City Retained New Revenue
Year Year Year131 Valuelbl New Taxable Value Incremental Value % Annual Cumulative Annual Cumulative
Base 2024 $ 7,301,296
1 2025 2.0% $ 131,440,000 $ 138,887,322 $ 131,586,026 100% 5 - $ - $ - $ -
2 2026 2.0% $ 294,389,600 $ 436,054,668 $ 428,753,372 100% $ 658,888 $ 658,888 $ - $ -
3 2027 2.0% $ 121,248,216 $ 566,023,978 $ 558,722,682 100% $ 2,146,888 $ 2,805,776 $ - $ -
4 2028 2.0% $ 43,774,830 $ 621,119,287 $ 613,817,991 100% $ 2,797,681 $ 5,603,457 $ - $ -
5 2029 2.0% $ - $ 633,541,673 $ 626,240,377 100% $ 3,073,559 $ 8,677,016 $ - $ -
6 2030 2.0% $ - $ 646,212,506 $ 638,911,210 100% $ 3,135,761 $ 11,812,777 $ - $ -
7 2031 2.0% $ - 5 659,136,757 $ 651,835,461 100% $ 3,199,207 $ 15,011,984 $ - $ -
8 2032 2.0% $ - $ 672,319,492 $ 665,018,196 100% $ 3,263,923 $ 18,275,907 $ - 5 -
9 2033 0.0% $ - $ 672,319,492 $ 665,018,196 100% $ 3,329,932 $ 21,605,839 $ - $ -
10 2034 0.0% $ - $ 672,319,492 $ 665,018,196 100% $ 3,329,932 $ 24,935,771 $ - $ -
11 2035 2.0% $ - 5 685,765,882 $ 678,464,586 100% $ 3,329,932 $ 28,265,704 $ - $ -
12 2036 2.0% $ - $ 699,481,199 $ 692,179,903 100% $ 3,397,262 $ 31,662,966 $ - $ -
13 2037 2.0% $ - $ 713,470,823 $ 706,169,527 100% $ 3,465,939 $ 35,128,904 $ - $ -
14 2038 2.0% $ - $ 727,740,240 $ 720,438,944 100% $ 3,535,989 $ 38,664,893 $ - $ -
15 2039 2.0% $ - $ 742,295,044 $ 734,993,748 100% $ 3,607,440 $ 42,272,332 $ - $ -
16 2040 2.0% $ - $ 757,140,945 $ 749,839,649 100% $ 3,680,319 $ 45,952,652 $ - $ -
17 2041 2.0% $ - $ 772,283,764 $ 764,982,468 100% $ 3,754,657 $ 49,707,309 $ - $ -
18 2042 2.0% $ - $ 787,729,440 $ 780,428,144 100% $ 3,830,481 $ 53,537,790 $ - $ -
19 2043 0.0% $ - $ 787,729,440 $ 780,428,144 100% $ 3,907,822 $ 57,445,613 $ - $ -
20 2044 0.0% $ - $ 787,729,440 $ 780,428,144 100% $ 3,907,822 5 61,353,435 $ - $ -
21 2045 2.0% $ - $ 803,484,028 $ 796,182,732 100% $ 3,907,822 $ 65,261,257 $ - $
22 2046 2.0% $ - 5 819,553,709 $ 812,252,413 100% $ 3,986,710 $ 69,247,967 $ - $ -
23 2047 2.0% $ - $ 835,944,783 $ 828,643,487 100% $ 4,067,175 $ 73,315,142 $ - $ -
24 2048 2.0% $ - $ 852,663,679 $ 845,362,383 100% $ 4,149,250 $ 77,464,392 $ - $ -
25 2049 2.0% $ - $ 869,716,952 $ 862,415,656 100% $ 4,232,966 $ 81,697,358 $ - $ -
26 2050 2.0% $ - $ 887,111,291 $ 879,809,995 100% $ 4,318,357 5 86,015,715 $ - $ -
27 2051 2.0% $ - $ 904,853,517 $ 897,552,221 100% $ 4,405,455 $ 90,421,170 $ - $ -
28 2052 2.0% $ - $ 922,950,588 $ 915,649,292 100% $ 4,494,295 $ 94,915,465 $ - $ -
29 2053 0.0% $ - $ 922,950,588 $ 915,649,292 100% $ 4,584,912 5 99,500,378 $ - $ -
30 2054 0.0% $ - $ 922,950,588 $ 915,649,292 100% $ 4,584,912 $ 104,085,290 $ - $ -
Total $ 590,852,646 104,085,290 -
Assumptions Footnotes
Base Taxable Value 7,301,296.00 [a]Values increased at 2%annually,with two years of no growth each decade to simulate an
City AV Rate 0.5007 economic downturn.
[b]Based on project development data as provided by the City on May 13,2024.
REINVESTMENT ZONE NUMBER TWO,CITY OF FRIENDSWOOD 18
PRELIMINARY REINVESTMENT ZONE FINANCING PLAN
EXHIBIT F — PROPOSED USES OF THE PROPERTY
FRIENDSWOOD. TX
OVERVIEW MAP TIRZ 12• FUTURE LAND USE
. , .
\ \‘‘-'' , „. ,• ,/,',:,,;.'.c,'('‘.., . . N,, >, '‘,\x,'
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REINVESTMENT ZONE NUMBER TWO,CITY OF FRIENDSWOOD
19
PRELIMINARY REINVESTMENT ZONE FINANCING PLAN
EXHIBIT G — MAP OF THE PUBLIC IMPROVEMENTS
r.*'ca,r)l;r
Tint Phases
\ a
[1 Baker Road 12-Water toe(20251
f = Friendswood Parkway 16'Water Line(20301
gyp R Loft I:raro L.
,s r1 North Eagle Creek L 0)17'Wale( ine(203
4 ararama The Estates at Wilderness Trails(20241IT
1 t Castle a't.ar,a Way 120241
ig a,c rating Leaf Ranch(2025)
t'(t + --.r.,,.. Future BoFysi:Property Development t20271
`' raorreaor Future Wischnewsky Property Development t 2030)
Fnendswood Parkway Final Bu,ld(2030)
E
a
•
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4 ,
REINVESTMENT ZONE NUMBER ONE,CITY OF FRIENDSWOOD 20
PRELIMINARY REINVESTMENT ZONE FINANCING PLAN
IEXHIBIT H - PARCEL IDENTIFICATION
Property ID Taxable Value Acreage
384718 $ 1,531,000 12.26
362752 $ - 3.000
384717 $ 3,920 49.02
186301 $ - 33.02
186314 $ - 2.13
184158 $ 66,090 5.51
184157 $ 27,680 2.31
184156 $ 30,730 2.56
184159 $ 66,210 5.52
184155 $ 30,910 2.58
184160 $ 27,860 2.32
184161 $ 30,190 2.52
184154 $ 27,910 2.33
184118 $ 2,951,940 38.44
184153 $ 29,800 2.48
184120 $ 36,470 5.21
184152 $ 29,800 2.48
184123 $ 133,120 21.13
184151 $ 29,800 2.48
184150 $ 29,950 2.5
184122 $ 165,980 40.07
1 184149 ! $ 51,760 4.32
184148 - $ 30,010 2.5
171534 $ 114,000 9.5
720416 $ 668,976 2.13
186284 $ 593,350 37.7
233008 $ 1,260 15.75
407325 $ 592,580 2.77 I
REINVESTMENT ZONE NUMBER ONE,CITY OF FRIENDSWOOD 21
PRELIMINARY REINVESTMENT ZONE FINANCING PLAN