HomeMy WebLinkAboutOrdinance No. 2024-36ORDINANCE NO.2024-36
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF
FRIENDSWOOD, TEXAS, APPROVING THE PROJECT PLAN AND
REINVESTMENT ZONE FINANCING PLAN FOR REINVESTMENT ZONE
NUMBER ONE, CITY OF FRIENDSWOOD; CONTAINING FINDINGS AND
OTHER PROVISIONS RELATED THERETO; AND PROVIDING AN
EFFECTIVE DATE.
WHEREAS, the City Council (the "City Council') of the City of Friendswood, Texas (the
"City") designated Reinvestment Zone Number One, City of Friendswood (the "Zone"), by
Ordinance No. 2023-31, passed, approved and adopted by the City Council on December 4, 2023,
pursuant to Chapter 311 of the Texas Tax Code, as amended (the "Act"); and
WHEREAS, on November 4, 2024, the Board of Directors of the Zone (the "Zone Board")
adopted the Project Plan and Reinvestment Zone Financing Plan for the Zone (collectively the
"Plan") and submitted it to the City Council for approval; and
WHEREAS, the Plan establishes an economic development program for the Zone for the
public purposes of developing and diversifying the economy of the Zone, eliminating
unemployment and underemployment in the Zone, and developing or expanding transportation,
business, and commercial activity in the Zone pursuant to Section 311.010(h) of the Act; and
WHEREAS, before the Zone Board may implement the Plan, the City Council must
approve the Plan, which, in part, relates to the development or improvement of streets, including
the extension of Blackhawk Boulevard within the boundaries of the Zone; and
WHEREAS, the City Council has reviewed the Plan and desires to confirm the designation
of the Zone and approve the Plan, and the establishment of an economic development program for
the Zone therein, in order to facilitate development or redevelopment in the Zone 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;
NOW THEREFORE,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FRIENDSWOOD,
STATE OF TEXAS:
Section 1. The recitations, facts, and findings contained in the recitals to 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. The definitions of terins contained in the recitals to this ordinance
are hereby incorporated and made part of this ordinance.
Section 2. The Plan attached hereto as Exhibit "A" is hereby found to be economically
feasible and is approved. The appropriate officials of the City are authorized to take all steps
reasonably necessary to implement the Plan.
Section 3. This ordinance shall take effect immediately upon its adoption and
publication in accordance with and as provided by law.
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 41h day of November, 2024.
W
LETICIA BRYSCH, City
APPROVED AS TO FORM:
KAREN L. HORNER, City Attorney
SATE OF-:-X
HACity Council\Ordinanees\2024\I1-04-2024\0rdinance - Approving TIRZ No. I Projcet Plan.docx
2
Exhibit "A"
REINVESTMENT ZONE NUMBER ONE,
CITY OF FRIENDSWOOD
PROJECT PLAN AND REINVESTMENT ZONE FINANCING
PLAN
NOVEMBER 4, 2024
TABLE OF CONTENTS
Tableof Contents..........................................................................................................................................1
Section1: Definitions....................................................................................................................................2
Section2: Introduction.................................................................................................................................5
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...................................................................................................8
Section 8: Estimated Project Costs...............................................................................................................8
Section9: Economic Feasibility.....................................................................................................................9
Section 10: Estimated Bonded Indebtedness...............................................................................................9
Section11: Appraised Value.......................................................................................................................10
Section 12: Method of Financing................................................................................................................10
Section 13: Duration of the Zone, Termination..........................................................................................11
Listof Exhibits.............................................................................................................................................12
ExhibitA— Map of the Zone........................................................................................................................13
ExhibitB — Non -Project Costs.....................................................................................................................14
ExhibitC— Project Costs..............................................................................................................................15
Exhibit D — Estimated Timeline of Incurred Costs.......................................................................................16
ExhibitE — Feasibility Study.........................................................................................................................17
Exhibit F — Legal Description of the Zone....................................................................................................18
Exhibit G — Existing and Proposed Uses of the Property............................................................................26
Exhibit H — Map of the Public Improvements.............................................................................................28
REINVESTMENT ZONE NUMBER ONE, CITY OF FRIENDSWOOD 1
PROJECT PLAN AND REINVESTMENT ZONE FINANCING PLAN
SECTION 1: DEFINITIONS
Capitalized terms used in this Final Plan shall have the meanings given to them in Section I below
unless otherwise defined in this Final Plan or unless the context in which a term is used clearly
requires a different meaning.
"Act" means Chapter 311, Texas Tax Code, Tax Increment Financing Act, as amended.
"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 creation and administration of the Zone.
"Appraisal District" means the Harris Central Appraisal District.
"Assessment" means an assessment levied as further defined and described in the City Center
PID Service and Assessment Plan.
"Board" means the Board of Directors of 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 Non-PID Projects" means those certain improvements, or the allocable share of
costs of such improvements, that are classified as ineligible for funding by PID Bonds or
Assessments.
"City Center PID" means the City Center Public Improvement District, which includes certain of
the Property within its boundaries, created by Resolution No. 2021-01 of the City passed on
January 8, 2024.
"City Center PID Projects" means those certain improvements as are further defined and
described in the City Center PID Service and Assessment Plan.
"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 November 4, 2024,
and amended from time to time.
"City Council" means the governing body of the City.
REINVESTMENT ZONE NUMBER ONE, CITY OF FRIENDSWOOD Z
PROJECT PLAN & REINVESTMENT ZONE FINANCING PLAN
"City Tax 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.
"Designation Ordinance" means Ordinance No. 2023-31 adopted by the City Council on
December 4, 2023.
"Developer" means Madison Development Corporation, LLC and its successors or assigns.
"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 this Project Plan and Reinvestment Zone Financing Plan for the Zone.
"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.
"PID Bonds" means any bonds issued by the City in one or more series as will be further defined
and described in the City Center PID Service and Assessment Plan.
"Project Costs" means the total costs for projects in the Zone, including the actual costs of the
financing for the Public Improvements and the Administrative Costs.
"Project Plan". means the project plan for the development or redevelopment of a reinvestment
zone approved under the Act, including all amendments of the plan approved as provided by the
Act.
"Property" means the 124.612 acres of land within the boundaries of the Zone, as depicted on
Exhibit A and described on Exhibit F.
"Public Improvements" means the proposed public improvements to be financed by the Zone,
which includes the City Center PID Projects and the City Center Non-PID Projects, which together
include streets, detention, water, sanitary sewer, sanitary lift station, clearing and grubbing,
earthwork, paving and grading, a fire station, playing fields for the School, landscaping, trails and
other public amenities, and parks, as depicted on Exhibit H, and detailed on Exhibit C.
"School" means the School District's Brookside Intermediate School.
"School District" means the Clear Creek Independent School District.
"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.
REINVESTMENT ZONE NUMBER ONE, CITY OF FRIENDSWOOD
PROJECT PLAN & REINVESTMENT ZONE FINANCING PLAN
"TIRZ Credit" means that TIRZ Maximum Annual Credit Amount designated towards the principal
and interest portion of the Annual Installment for the Assessed Property, as is further defined
and described in the City Center PID Service and Assessment Plan. For purposes of this definition,
the terms "TIRZ Maximum Annual Credit Amount," "Annual Installment" and "Assessed
Property" have the meanings assigned to such terms in the City Center PID Service and
Assessment Plan.
"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 One, City of Friendswood, as depicted on Exhibit A,
and described on Exhibit F.
REINVESTMENT ZONE NUMBER ONE, CITY OF FRIENDSWOOD 4
PROJECT PLAN & REINVESTMENT ZONE FINANCING PLAN
SECTION 2: INTRODUCTION
2.1 Authority and Purpose
The Zone was designated by the City Council on December 4, 2023, pursuant to the Designation
Ordinance, in an area within the corporate limits of the City covering 124.612 contiguous acres.
The purpose of the Zone is to facilitate residential and commercial development or
redevelopment by financing the design and construction 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 Zone
The Property within the Zone is located within Sarah McKissick League, Abstract Number 549,
Friendswood, Harris County, Texas, near FM 528 and Clear Creek. The Property within the Zone
is predominantly open, and undeveloped, and because of the following factors, the sound growth
of the City is substantially impaired or arrested: (i) the lack of public infrastructure, including but
not limited to insufficient mobility infrastructure and the absence of adequate water and sanitary
sewer utilities; and (ii) the barriers to development presented by the floodplain limitations along
Clear Creek, which render more than half of the acreage within the Zone as undevelopable
without significant mitigation activities.
Various residential housing developers and other companies have studied the Property within
the Zone for possible residential, retail and/or commercial development several times over the
past two decades, including but not limited to, Lovett Commercial, LLC; GWR Webster, LLC,
Beazer Homes USA, Inc., The NRP Group, LLC, Integris Projects, LLC, Eclipse Development Group,
and Wells Fargo & Company. None of these developers or companies has pursued development
of the area within the Zone due to factors including the lack of public infrastructure and the
challenges to development posed by the floodplain limitations along Clear Creek. Due to the
relatively limited size, location, and physical characteristics of the Property within the Zone,
including the lack of public infrastructure, including but not limited to insufficient mobility
infrastructure and the absence of adequate water and sanitary sewer utilities, and the barriers
to development presented by the floodplain limitations along Clear Creek, which render more
than half of the acreage within the Zone as undevelopable without significant mitigation
activities, and due to the substantial cost to construct the necessary public infrastructure,
development of the Property within the 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.
REINVESTMENT ZONE NUMBER ONE, CITY OF FRIENDSWOOD 5
PROJECT PLAN & REINVESTMENT ZONE FINANCING PLAN
2.3 Goals
Goal 1: Infrastructure Improvements
The construction of public infrastructure within the Zone is required to create an environment
that will stimulate private investment in retail, residential, office and commercial developments.
If the Public Improvements are financed as contemplated by this Final Plan, the Property can be
developed to take full advantage of the opportunity to bring to the City a quality development
that offers a corresponding increase in the tax base and creates economic opportunity.
Goal 2: Economic Development
In addition to direct investment in capital improvements to public infrastructure or investment
in public infrastructure to stimulate private investment, the Board hereby establishes and
provides for the administration of an economic development program to incentivize private
enterprise in the Zone and serve as a catalyst for other business developments pursuant to
Section 311.010(h) of the Act and Chapter 380 of the Texas Local Government Code. The Zone's
economic development program may include making grants and loans from the TIRZ Fund in an
aggregate amount not to exceed the amount of City Tax Increment paid into the TIRZ Fund for
activities that benefit the Zone and stimulate business and commercial activity in the Zone and
may also be paired with other financing mechanisms as approved by the City Council.
SECTION 3: DESCRIPTION AND MAPS
3.1 Existing and Proposed Uses of Land (Section 311.011(b)(1) of the Act)
The Property within the Zone is currently zoned Planned Unit Development and Single Family
Residential with a Specific Use Permit, as depicted on Exhibit G, and is intended to be developed
with commercial and residential uses. The Property is undeveloped, and there is limited public
infrastructure to support development, including, but not limited to, insufficient mobility
infrastructure and the absence of adequate water and sanitary sewer utilities. Development
requires extensive public infrastructure that: (1) the City cannot provide, and (2) will not be
provided solely through private investment in the foreseeable future.
The proposed uses of the Property include retail, mixed -use commercial, multi -family,
office/medical and hotel, as shown on Exhibit G.
REINVESTMENT ZONE NUMBER ONE, CITY OF FRIENDSWOOD 6
PROJECT PLAN & REINVESTMENT ZONE FINANCING PLAN
SECTION 4: PROPOSED CHANGES TO ORDINANCES, PLANS, CODES, RULES, AND
REGULATIONS
4.1 Proposed Changes of Zoning Ordinances, Master Plan of Municipality, Building Codes,
and Other Municipal Ordinances (Section 311.011(b)(2) of the Act)
The Property within the Zone 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 and Single Family Residential with a Specific Use Permit as depicted on Exhibit G.
The City has jurisdiction over the subdivision and platting of 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
5.1 Method of Relocating Persons to be Displaced, if any, as a Result of Implementing the
Project Plan (Section 311.011(b)(4) of the Act)
No person shall be displaced due to the implementation of the Final Plan.
SECTION 6: ESTIMATED NON -PROJECT COSTS
6.1 Estimated Non -Project Costs (Section 311.011(b)(3) of the Act)
Non -Project Costs are costs that will be incurred or expended by third parties for development
of projects that benefit the Zone but will not be financed by the Zone. Non -Project Costs will be
derived from other funding sources, including private funds. The list of Non -Project Costs, the
total costs of which is estimated to be approximately $729,225,099, is shown on Exhibit B.
REINVESTMENT ZONE NUMBER ONE, CITY OF FRIENDSWOOD 7
PROJECT PLAN & REINVESTMENT ZONE FINANCING PLAN
SECTION 7: PROPOSED PUBLIC IMPROVEMENTS
7.1 Proposed Kind, Number and Location of all Proposed Public Works or Public
Improvements to be Financed by the Zone (Section 311.011(c)(2) of the Act)
The Public Improvements include streets, detention, water, sanitary sewer, sanitary lift station,
clearing and grubbing, earthwork, paving and grading, a fire station, playing fields for the School,
landscaping, trails and other public amenities, and parks. All Public Improvements shall be
designed and constructed in accordance with all applicable City standards and subject to
inspection, approval and acceptance by the City.
The number and locations of the proposed Public Improvements are depicted on Exhibit H.
SECTION 8: ESTIMATED PROJECT COSTS
8.1 Estimated Project Costs (Section 311.011(c)(1) of the Act)
The estimated Project Costs for the Zone are detailed on Exhibit C and include the Administrative
Costs, the City Center PID Projects, and the City Center Non-PID Projects. The dollar amounts set
forth in Exhibit C are approximate and may be amended from time to time by the Board with the
approval of the City Council consistent with state law. The total Project Costs are estimated to be
$92,694,065.
8.2 Administrative Costs
The Administrative Costs are estimated to be $2,321,808. The Administrative Costs shall be paid
each year from the TIRZ Fund before any other Project Costs are paid. The estimated
Administrative Costs are the costs over the life of the TIRZ and can only be paid if there are
available funds.
8.3 City Center PID Projects
The City Center PID Projects are those projects anticipated to be funded through a combination
of the City Center PID and the Zone. The estimated costs are $81,754,947.
8.4 City Center Non-PID Projects
The City Center Non-PID Projects are those projects not anticipated to be funded through the
City Center PID. The estimated costs are $8,617,310.
REINVESTMENT ZONE NUMBER ONE, CITY OF FRIENDSWOOD B
PROJECT PLAN & REINVESTMENT ZONE FINANCING PLAN
8.5 Estimated Time When Related Costs or Monetary Obligations Incurred (Section
311.011(c)(5) of the Act)
The Administrative Costs will be incurred annually throughout the duration of the Zone. It is
estimated that the other Project Costs set forth in Exhibit C will be incurred between 2024 and
2032, as shown on Exhibit D.
SECTION 9: ECONOMIC FEASIBILITY
9.1 Economic Feasibility (Section 311.011(c)(3) of the Act)
The Feasibility Study for the Zone was prepared in 2024, by P3Works, LLC with data provided by
the Developer, the City and School District and is attached as Exhibit E. The Feasibility Study
focuses on only direct financial benefits (i.e. ad valorem tax revenues generated from the
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 $132,546,407 in total new real property tax
revenue for the City over the remaining term of the Zone.
Approximately $92,782,485 in City Tax Increment will be deposited into the TIRZ Fund to pay for
Project Costs over the remaining term of the Zone. The cumulative City Tax Increment set forth
in the Feasibility Study, set forth in Exhibit E 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 real property tax revenue
generated within the Zone and retained by the City is estimated at $39,763,922. Based on the
foregoing, the economic feasibility of the Zone has been demonstrated.
The Board and the City Council find and determine that the Final Plan is economically feasible
SECTION 10: ESTIMATED BONDED INDEBTEDNESS
10.1 Estimated Amount of Bonded Indebtedness (Section 311.011(c)(4) of the Act)
Issuance of notes and bonds by or on behalf of the Zone may occur as tax increment revenues
allow. The value and timing of the issuance of notes or bonds will correlate to debt capacity as
derived from the revenue schedule set forth in Exhibit E, as well as actual market conditions for
the issue and sale of such notes and bonds.
REINVESTMENT ZONE NUMBER ONE, CITY OF FRIENDSWOOD 9
PROJECT PLAN & REINVESTMENT ZONE FINANCING PLAN
SECTION 11: APPRAISED VALUE
11.1 Current Total Appraised Value of Taxable Real Property (Section 311.011(c)(7) of the
Act)
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 During Each Year of Existence (Section
311.011(c)(8) of the Act)
The estimated Captured Appraised Value for the duration of the Zone is set forth in Exhibit E. 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 $1,169,273,939 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 this Project Plan. It is
anticipated that this Project 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 Methods and Sources of Financing Project Costs and Percentage of Increment from
taxing Units Anticipated to Contribute Tax Increment to the Zone (Section 311.011(c)(6) of
the Act)
Tax increment will consist of contributions from the City. The City will deposit into the TIRZ Fund
each year the City Tax Increment, which is 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.
For example, in tax year 2024, the City's ad valorem tax rate is $0.514172 per $100 of taxable
value, so the City would contribute $0.3599204 per $100 of the Captured Appraised Value in the
Zone levied and collected to the TIRZ Fund.
The City Tax Increment deposited into the TIRZ Fund shall be prioritized and allocated on a parcel
by parcel basis as follows:
1. For Administrative Costs; then
2. For the payment of Project Costs through an annual reduction of a portion of the
principal and interest of the Annual Installment for the Assessed Property (as each
term is 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
REINVESTMENT ZONE NUMBER ONE, CITY OF FRIENDSWOOD 10
PROJECT PLAN & REINVESTMENT ZONE FINANCING PLAN
basis, in an amount not to exceed the TIRZ Credit (as further described 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 Council.
SECTION 13: DURATION OF THE ZONE, TERMINATION
13.1 Zone Duration (Section 311.011(c)(9) of the Act)
The Zone was designated by the City on December 4, 2023, and will terminate on December 31,
2053, with the last payment being due by January 31, 2054, unless otherwise terminated in
accordance with the Designation Ordinance. 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
upon approval of the City Council.
REINVESTMENT ZONE NUMBER ONE, CITY OF FRIENDSWOOD 11
PROJECT PLAN & REINVESTMENT ZONE FINANCING PLAN
LIST OF EXHIBITS
Unless otherwise stated, all references to "Exhibits" contained in this Final Plan shall mean and
refer to the following exhibits, all of which are attached to and made a part of this Final 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
Feasibility Study
Exhibit F
Legal Description of the Zone
Exhibit G
Existing and Proposed Uses of the Property
Exhibit H
Map of the Public Improvements
REINVESTMENT ZONE NUMBER ONE, CITY OF FRIENDSWOOD 12
PROJECT PLAN AND REINVESTMENT ZONE FINANCING PLAN
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EXHIBIT B - NON -PROJECT COSTS
Lot Valuel'1 Buildout Valuel'1
Per
Unit I
Total
Per Unit
Total
Lot Type
76,408
$
89
$
6,830,000
$
581
$
44,414,000
$
37,584,000
Lot Type
268,800
$
33
$
8,850,000
$
480
$
129,125,714
$
120,275,714
Lot Type
115
$18,174
$
2,090,000
$
217,391
$
25,000,000
$
22,910,000
Lot Type
194,050
$
21
$
4,130,000
$
405
$
78,605,385
$
74,475,385
Lot Type
750,000
$
21
$
16,020,000
$
653
$
490,000,000
$
473,980,000
Total
$
729,225,099
Footnotes:
[a] Values for Lot Type 1 are based on the Appraisal dated July 24, 2024 and Lot Types 2, 3, 4, and 5 are based on the Developer's
model dated September 19, 2024.
REINVESTMENT ZONE NUMBER ONE, CITY OF FRIENDSWOOD 14
PROJECT PLAN AND REINVESTMENT ZONE FINANCING PLAN
EXHIBIT C - PROJECT COSTS
,
City Center PID Projects [a]
FM 528 Traffic Improvements
$
1,200,000
Blackhawk Boulevard Improvements
$
3,944,453
Townes Road Improvements
$
595,977
Madison Avenue Improvements
$
311,813
Larrabee Way Improvements
$
817,556)
Bennett Blvd. Improvements
$
804,530
Earthwork, Paving, and Gradingl°I
$
1,830,270
Clearing, Grubbing, and DemolitionN
$
873,609
Detention Pond 11`l
$
13,983,801
Detention Pond 2
$
2,018,477
Water
$
1,007,036
Wastewater
$
862,879
Sanitary Lift Station
$
1,330,700
Storm Water and Drainage
$
5,323,362
Landscaping, Parks and Amenities
$
5,597,472
Fire Stationlbi
$
1,031,690
Contingency
$
5,836,952
Soft CostsN
$
3,064,858
Interest & Financing Costs
$
31,319,512
Subtotal
$
81,754,947
City Center Non-PID Projects
Fire Station[b]
$
7,268,310
Playing Fields
$
99,000
380 Grant
$
1,250,000
Subtotal
$
8,617,310
Public Improvements Subtotal
$
90,372,257
Administrative Costs
$
2,321,808
ProjectTotal
1.
Footnotes:
(a] As identified in the City Center Public Improvement District Service and
Assessment Plan, which is based on Engineer's Opinion of Probable Cost
prepared by Ward, Getz and Associates, PLLC on September 24, 2024.
[b] Partial funding is provided by the City Center PID.
[c] Net of Other City Funding Sources.
REINVESTMENT ZONE NUMBER ONE, CITY OF FRIENDSWOOD
PROJECT PLAN AND REINVESTMENT ZONE FINANCING PLAN 15
EXHIBIT D - ESTIMATED TIMELINE OF INCURRED COSTS
Zone
Calendar
Year
Year
Annual
Cumulative
Base
2024
1
2025
$
71,881,476
71,881,476
2
2026
$
7,855,730
79,737,206
3
2027
$
3,366,741
83,103,947
4
2028
$
-
83,103,947
5
2029
$
2,180,493
85,284,440
6
2030
$
2,180,493
87,464,933
7
2031
$
2,180,493
89,645,426
8
2032
$
726,831
90,372,257
Total
$
90,372,257
Footnotes:
[a] Estimate provided for illustrative purposes only.
[b] Does not illustrate Administrative Costs, which
shall be incurred annually for the duration of the
Zone.
[c] The cost for Playing Fields are projected to be
incurred in 2025; $1,031,690 for the Fire Station will
be incurred in 2027; 30% of Fire Station costs to be
incurred in 2029, 2030, and 2031; 10%of remaining
Fire Station costs to be incurred in 2032.
REINVESTMENT ZONE NUMBER ONE, CITY OF FRIENDSWOOD 16
PROJECT PLAN & REINVESTMENT ZONE FINANCING PLAN
EXHIBIT E — FEASIBILITY STUDY
As set forth in the revenue schedule below, during the term of the Zone, City Tax 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.
l°l
NewTaxableValue
InnementalValue
%
Annual Cumlmive
Annul
CumulatNe
ease
2oz4
1
2025
2.O%
-
$
],816,I88 $
35,617
70t4 $
- $
-
$ -2
2026
2.0%
-
$
1,852,810 $
71,947
70% $
128 $
128
$ 55
$ 55
3
2027
20%
f4dd6VDoeJV.,,lopment
),412,392
$
669,302,266 $
66),521,395
70% $
259 $
387
$ 111
$ 166
4
2028
2.0%
4,1%,530
$
)86,88),841 $
)85,106,9]0
)O% $
2,402,546 $
2,402,933
$ 1,029,662
$ 1,029,828
5
2029
2.0%
-
$
802,625,598 $
800,844,72E
70% $
1,825,760 $
5,228,693
$ 1,211,040
$ 2,240,868
6
2030
2.0%
-
$
818,6)B,110 $
8I6,89),239
)0% $
2,B82,401 $
e,lllp9)
$ 1,235,316
$ 3,4]6,184
2031
2 M
-
$
835,051,672 $
833,270,801
)O% $
2,940,180 $
11,051,276
$ 1,260,0)]
$ 4,736,261
0
2032
2.0%
-
$
851,)52,]06 $
U9,971,835
7" $
2,9%,112 $
14,050,380
$ 1,285,334
$ 6,021,595
9
2033
0%
-
$
851,]52,)06 $
849,WI.835
7" $
3,059,222 $
17,109,610
$ 1,311.095
$ ),332,6%
10
20 44
O%
$
851,]52,)06 $
U9,971,035
7" $
3,059,222 $
20,168,832
$ 1,311,095
$ 8,643,785
11
2035
2.0%
$
-
$
868,787,760 $
867,00,889
7" $
3,059,722 $
23,228,054
$ 1,311,095
$ 9,954,880
12
2036
2.0%
$
-
$
886,163,515 $
884,302,644
70% $
3,120,535 $
26,348,589
$ 1,337,972
$ 11,292,252
13
2037
2.0%
$
-
$
903,886,785 $
902,105,914
7" $
3,183,074 $
29,531,662
$ 1,364,174
$12,656,427
14
2038
2.0%
$
-
$
921,964,521 $
920,183,650
)096 $
3,246,863 $
32,778,525
$ 1,391,513
$ 14,047,939
15
2039
20%
$
-
$
940,403,812 $
938,622,941
7O% $
3,311,929 $
36,090,454
$ 1,419,399
$15,467,337
16
2040
2.014
5
-
$
959,211,888 $
957,431,017
7" $
3,379,295 $
39,40,750
$ 1.447,841
$16,915,178
17
2041
2.0%
$
-
$
978,396,126 $
976,615,255
7O% $
3,445,990 $
42,914,739
$ 1,476,853
$ 18,392,031
18
2042
2014
S
-
$
%g964,048 $
916,183,1))
70% $
3,515.038 $
46,429,777
$ 1,505,445
$19,9%,476
19
2043
O%
$
-
$
997,964,048 $
996,183,1]]
7O% $
3,505,466 $
50,015,243
$ 1,536,628
$ 21,435,104
20
2044
O%
$
$
997,964,040 $
9%,183,07
70% $
3,505,466 $
53,600,710
$ 1,535,628
$22,971,733
21
2045
2.0%
$
-
$
1,017,923,329 $
1,016,142,458
7" $
3,505,466 $
57,186,176
$ 1,536,628
$24,508,361
22
2046
2.0%
$
-
$
3,038,281,7% $
1,036,5%925
7O% $
3,657,304 $
0,843,480
$ 1,567,416
$26,075,777
23
2047
2.0%
$
-
$
3,059,W7,43I $
1,057,266,561
70% $
3,730,578 $
64,574,058
5 1,598,819
$27,674,596
24
2048
2.0%
$
-
$
I,OW,228,380 $
1,078,447,509
70% $
3,805,318 $
0,379,376
$ 1,00,851
$29.305,447
25
2049
2.0%
$
-
$
1,101,832,948 $
1,10,052,077
70% $
3,881,553 $
72,260,929
$ 1,663,523
$30,958,970
26
20SO
1"
$
-
$
1,123,869,607 5
1,122,088,736
70% $
3,959,312 $
76,220,241
$ 1,6%,848
$32,665,817
27
2051
2.0%
$
-
$
1,146,345,9% $
1,144,566,128
)O% $
4,038,626 $
80,258,867
$ 1,730,840
$34,3%657
20
2052
2.014
$
-
$
1,169,273,939 $
1,167,493,068
70% $
4,119,527 $
84,378,394
$ 1,765,512
$36,162,169
29
2053
Be;
$
-
$
1,169,273,939 $
1,167,493,058
70% $
4,202,046 $
88,580,440
$ 1,80 ,8]]
$37,963,046
30
2054
O%
$
$
1,159,273,939 $
1,167,493,068
701K $
4,202,046 $
93,782A05
5 1,M,8)]
$39,763,922
Total
$
771,611,922
92,782,485
39,763,92E
Base Terrible Valueld $1,7W,871
Oly AVRate 0.5142
[a] Values Increased at 2%annually, with two years of no growth each decade to simulate an
nomkdownturn.
Ibl Based on project development data as provided by the Developer's model dated
1111612023.
Icl As prodded by the Appraisal District.
REINVESTMENT ZONE NUMBER ONE, On OF FRIENDSWOOD 17
PROJECT POW & REINVESTMENT ZONE FINANCING PUN
EXHIBIT F - LEGAL DESCRIPTION OF THE ZONE
boundary
METES AND BOUNDS DESCRIPTION
124.612 ACRES (5,428,103 80, 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 celled 1.2603 acre tract of land
conveyed to City of FNondswood 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 Bey 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 Stale Plane Coordinate System of 1983,
South Central Zone 4204, US Survey Feet, NAD83(NA2011):
BEGINNING at a 518-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 corner of the herein described tract;
THENCE, Northeasterly, an are 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 09°4116", and a
chord which bears North 76121'49" East, 310.94 feel 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 08°51'00" West, over and across sold 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 36033'39' East, along said cutback line, a distance of 21.34 feet to the
northerly and of said cutback line at the curved westerly R.O.W. line of said Townes Road:
150 W. Shadowbend Avenue, Suite N304 1 Friendswood, TX 77546
phone 281.648.3131 1 fax 281.648.3737 1 e-mail christian0oundarvone.cmn
T.B,P.L.S. Firm No. 10OB4800
REINVESTMENT ZONE NUMBER ONE, CITY OF FRIENDSWOOD 18
PROJECT PLAN & REINVESTMENT ZONE FINANCING PLAN
boundary
. , - ,... ,.,i, .en .
METES AND BOUNDS DESCRIPTION
124.612 ACRES (5,428,103 SO. FT.)
PACE 2 OF 8
THENCE. Northerly, an arc distance of 120.00 feel 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 15012'40" Wost, 119.76 feel to an angle point;
THENCE, North 68'27'28" 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 feel, a central angle of 12'45'09", and a chord
which bears South 15009'57" East, 138.38 feel 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 08051'00' East, over and across said F.M. 528, a distance of 120.00 feel
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
feel to an angle point;
THENCE, North 08047'23" 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 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 feel
to an angle point;
THENCE, North 81012'37" 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 OW47'23" East, along sold 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 k304 1 Friendswood, TX 77546
phone 281.648.3131 1 fax 281.648.3737 1 e,mall christfanC boundarvone coil
T.B,P.L.S. Firm No. 10081800
REINVESTMENT ZONE NUMBER ONE, CITY OF FRIENDSWOOD 19
PROJECT PLAN & REINVESTMENT ZONE FINANCING PLAN
boundary
METES AND BOUNDS DESCRIPTION
124.612 ACRES (5,320,448 SO. FT.)
PAGE 3 OF 8
THENCE, South 53947'23' East, along said cutback line, a distance of 20.00 feet to the
southerly and of said cutback line at the northerly R.O.W. line of said F.M. 528;
THENCE, South 08047'2W 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 518-inch Iron rod found at the base of a concrete pad and marking the northwest comer
of said 28,9270 acre tract;
THENCE, South 08'47'23" East, departing said southerly R.O.W. line and along the
common line of said 26.0270 acre tract and said 106A72 acre tract, a distance of 1,109.36
feet to an angle point;
THENCE, North 81012'37' East, over and across said 28.9270 acre tract, a distance of
W7.54 feel to an angle point;
THENCE, North 00656'05" 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 68047'23" West, continuing over and across said 28.9270 acre tract, a
distance of 30.04 feel 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. A114-00.00 (190' R.O.W.) as described by deeds recorded tinder
H.C,C.F. No(s). E449568 and X384682;
THENCE, South 08047'24" East, along sold westerly R.O.W. line, a distance of 236.23 feet
to an angle point;
THENCE, South 00656'05' East, continuing along said westerly R.O.W. line, a distance of
116.17 feet to an angle point;
THENCE, South 14046'31" West, continuing along said westerly R.O.W. tine, at 85.85 feet
passing the easterly common comer of sold 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•malt chiistian@boundarvone.com
T.B.P.L.S. Firm No. 10084800
REINVESTMENT ZONE NUMBER ONE, CITY OF FRIENDSW OOD 20
PROJECT PLAN & REINVESTMENT ZONE FINANCING PLAN
boundary®
METES AND BOUNDS DESCRIPTION
124.612 ACRES (5,428,103 SO. FT.)
PAGE 4 OF 8
THENCE, South 30129'10" West, continuing along said westerly R.O.W, line, a distance of
116.17 feet to an angle point;
THENCE, South 38°20'29" West. continuing along said northwesterly R.O.W. line, a
distance of 668,63 feel to an angle point;
THENCE, South 58042*02" East, over and across said Harris County Flood Control District
Unit No. At 14-00.00 (190' R.O.W.), a distance of 190.71 feel 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 feel to a 5/8-Inch Iron rod with cap stamped "SUN SURVEYING" found
marking an angle point;
THENCE, South 70003'17" East, along a northeasterly line of said 1.2603 acre tract, a
distance of 101.98 feel to a 518-Inch iron rod with cap stamped "SUN SURVEYING" found
marking an angle point;
THENCE. South 58044'41" East, along a northeasterly line of said 1,2603 acre tract, a
distance of 200.02 feel 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
feel to an angle point;
THENCE, South 67047'08" East, over and across said West Bay Area Boulevard, a
distance of 100.00 feel 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 feat to an angle point;
THENCE. North 67047'08" West, over and across said West Bay Area Boulevard, a
distance of 100.00 feel to the northwesterly R.O.W. line of West Bay Area Boulevard;
THENCE, North 22012'52" East, along said northwesterly R.O.W. line, a distance of 243.74
feel to a 518-Inch Iron rod with cap stamped 45UN 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 281.6,48.3737 1 e-mail christian@boundarvone.com
T.B.P.L.S. Firm No. 10084000
REINVESTMENT ZONE NUMBER ONE, CITY OF FRIENDSWOOD 21
PROJECT PLAN & REINVESTMENT ZONE FINANCING PLAN
bPo,uindary 0
,,, .,". . •.
METES AND BOUNDS DESCRIPTION
124.612 ACRES (5,428,103 SQ. FT.)
PAGE 6 OF 8
THENCE, North 58044'41" West, departing sold 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 314-Inch Iron rod found marking the most
westerly comer of said 1.2603 acre tract;
THENCE, North 5W42'02" 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 38620'29" West, along said southeast line and northwesterly R.O.W.
line of said Hants County Flood Control District Unit No. A114-00-00 (190' R.O.W,), at
602.52 feet passing a 5/8-Inch Iron rod with cap stamped °RPLS 3974" found marking the
southerly common comer 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 2101779" West, a distance of 80.86 feet to an angle point;
North 04022'12" West, a distance of 216.80 feel to an angle point;
North 32041'67" West, a distance of 184.39 feel to an angle point;
North 51006'03" West, a distance of 169.03 feet to an angle point;
North 74'03'08' West, a distance of 164.71 feet to an angle point;
South 48002'49" West, a distance of 44.69 feet to an angle point;
North 73053'13" West, a distance of 47.50 test to an angle point;
South 49924'27" West, a distance of 89.87 feet to an angle point;
North 75014'40" West, a distance of 40.66 feet to an angle point;
150 W. Shadowbend Avenue, Suite N304 I Frlendswood, TX 77546
phone 281.648.3131 1 tax 281.648.3737 1 e-mail christlanoboundaryone.com
T.B.P.L.S. Firm No. 10084800
REINVESTMENT ZONE NUMBER ONE, CITY OF FRIENDSWOOD 22
PROJECT PLAN & REINVESTMENT ZONE FINANCING PLAN
boundary
METES AND BOUNDS DESCRIPTION
124.612 ACRES (6,428,103 SO. FT.)
PAGE 6 OF 8
South 43'53'50" West. a distance of 146,10 feel to an angle point;
South 25005'22" West, a distance of 134.50 feet to an angle point;
South 83033'17" West, a distance of 49.30 feet to an angle point;
South 2V22'27" Wesl, a distance of 73,59 feel to an angle point;
North 77°09'16" West, a distance of 62.96 feel to an angle point;
South 59648'42' West, a distance of 48.72 feet to an angle point;
North 76029'09" West, a distance of 56.65 feel to an angle point;
North 88056'38" West, a distance of 120.31 feet to an angle point;
North 78001'47" West, a distance of 221.29 feet to an angle point;
North 67013'30" West, a distance of 112.00 feel to an angle point;
North 60046'11" West, a distance of 258.04 feet to an angle point;
North 16000'41" West, a distance of 99.00 feel 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 feel to an angle point;
North 39120'14" East, a distance of 42,62 feet to an angle point;
North 59056'00' East, a distance of 35.59 feel to an angle point;
South 84'03'09" East, a distance of 25.53 feel to an angle point;
South 6W21'49" East, a distance of 25.66 feat to an angle point;
North 23'23'59" East, a distance of 84.42 feel to an angle point;
150 W. Shadowbend Avenue, Suite N304 1 Frlendswood, TX 77546
phone 281,648.3131 1 fax 281,648.3737 1 e•mall christianczbnundaryone.com
T.B.P.L.S. Firm No. 10OB4800
REINVESTMENT ZONE NUMBER ONE, CITY OF FRIENDSWOOD 23
PROJECT PLAN & REINVESTMENT ZONE FINANCING PLAN
boundary 0
METES AND BOUNDS DESCRIPTION
124.612 ACRES (5,428,103 SQ. FT.)
PAGE 7 OF 8
North 27029'30' East, a distance of 63.48 feet to an angle point;
North IWO2'35' East, a distance of 103.93 feel to an angle point;
North 1403812' 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 15'04'35' 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 21040'27" 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 2000913' 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 '8' and for an
angle paint;
THENCE, North 08044'05" West, along the common line of said Restricted Reserves "El' and
"C', CLEAR CREEK COMMUNITY CHURCH, at 608.49 feet passing the westedy 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 054.44 feet to a 518-inch Iron rod with cap
stamped 'BOUNDARY ONE•RPLS 5489" set marking a common corner of said Restricted
Reserves'A'snd'W and for an angle point;
THENCE, South 81113'21" West, continuing along a common line of sold Restricted Reserves
'A" and "B", CLEAR CREEK COMMUNITY CHURCH, a distance of 185.80 feet to a 518-Inch
Iron rod with cap stamped "BOUNDARY ONE-RPLS 5469" set marking a common corner of
said Restricted Reserves Wand Wand for an angle point;
ISO W. Shadowbend Avenue, Suite #304 1 Friendswood, TX 77546
phone 281.648.3131 1 fax 281.648.3737 1 e-mail chnstianCoboundarvone,corn
T.B.P.L.S. Firm No. 10084800
REINVESTMENT ZONE NUMBER ONE, CITY OF FRIENDSWOOD 24
PROJECT PLAN & REINVESTMENT ZONE FINANCING PLAN
METES AND BOUNDS DESCRIPTION
124.612 ACRES (5,428,103 SO. FT.)
PAGE 7OF8
THENCE, North 18129'00" 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.G.
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 1 Friendswood, TX 77546
phone 281.648.3131 1 fax 281.618.3737 1 e•mall christlaw4boundarvone com
T,B.P,L.S. Firm No. 10081800
REINVESTMENT ZONE NUMBER ONE, CITY OF FRIENDSWOOD 25
PROJECT PLAN & REINVESTMENT ZONE FINANCING PLAN
EXHIBIT G — EXISTING AND PROPOSED USES OF THE PROPERTY
City of Friendswood
Cry Limit Specific Use Permit MFR-M 1'6'739
I- �Parcels(grey) —Water Lines _NC 0 OW 01 0'em
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Public Facilities Zoning by Parcel I pUD T
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REINVESTMENT ZONE NUMBER ONE, CITY OF FRIENDSWOOD 26
PROJECT PLAN & REINVESTMENT ZONE FINANCING PLAN
r o HOTEL 1120 ROOMS
0 RETAIL 165,600 SF
O OFFICE 1 101,000 SF
O MIXED USE 1311,000 SF
B® GARAGE 11,215 PARKING SPACES
APARTMENTS 1500 UNITS
FM 528
14,000 SFI 1 15000 SF 20005
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500 TOTALLOT 13
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REINVESTMENT ZONE NUMBER ONE, CITY OF FRIENDSWOOD 27
PROJECT PLAN & REINVESTMENT ZONE FINANCING PLAN
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