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HomeMy WebLinkAboutRes 041304-LRESOLUTION NO. A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF GEORGETOWN, TEXAS, ACKNOWLEDGING RECEIPT OF A PETITION FOR ESTABLISHMENT OF WOLF RANCH PUBLIC IMPROVEMENT DISTRICT NO. 1; SETTING A DATE FOR PUBLIC HEARING ON THE ADVISABILITY OF CREATION OF THE DISTRICT; AND DIRECTING PUBLICATION OF NOTICE AND PUBLIC HEARINGS FOR SAME. WHEREAS, by Petition received by the City Secretary of the City of Georgetown on March 26, 2004, the foam of which is correct and which has been duly acknowledged, the owner of all of the area of land described in said Petition has requested the governing body of the City of Georgetown, pursuant to Local Government Code Chapter 372, to establish the Wolf Ranch Public Improvement Distnct No. 1; and WHEREAS, a true and correct copy of the Petition is attached hereto as "Attachment 1"; and NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF GEORGETOWN, TEXAS: Section 1. That the said Petition, being proper and according to law, shall be, and is hereby, acknowledged and a public hearing on the advisability of creating the proposed Wolf Ranch Public Improvement District No. 1 is hereby set for May 11, 2004. Section 2: The City Secretary is directed to commence the publication and mailing of notices of a public hearing to be held on May 11, 2004 before the City Council on the subject of the creation of the Proposed Wolf Ranch Public Improvement District No. 1. PASSED AND APPROVED this the 13th`h day of April, 2004. ATTEST: Sandra D. Lee, City Secretary Approved as to Form. afria or Patricia E Carls, Brown & Carls, LLP City Attorney MAR 26 2004 15:52 FR SDt !GAL DEVELOPMENT31? 263 7038 TO 91`. 3303681 P.02/06 Draft 3115104 Petition for Establishment of Wolf Ranch Public Improvement District No. 1 PA axch. `. , 2004 TO THE CITY COUNCIL OF THE CITY OF GEORGETOWN, TEXAS AND THE MAYOR OF THE CITY OF GEORGEIOWN, I`hXAS: The undersigned landowner, SPG Wolf Ranch, L.P., a Texas limited partnership, successor in interest to Forestville Associates, a Maryland General Partnership, (the "Landowner"), pursuant to the Public Improvement Assessment Act, Chapter 372 001 et seq., Local Government Code, Vernon's Annot. Civil Statutes, respectfully petition the Mayor and the City Council for the establishment of the Wolf Ranch Public Improvement Assessment District #1 (the "Proposed District"). The Landowner owns one hundred patent (100%) of the appraised value of taxable real property in the Proposed District and constitutes one hundred percent (100%) of all record owners of property within the Proposed District. In support of said petition, Petitioner would show unto the City Council the following: A. General Nature of Proposed Improvements The creation of the Proposed District will provide for public infrastructure improvements classified into the following categories: (1) Pubic Road Improvements, (2) Public Utility Improvements and (3) Public On -Site Improvements as further provided in the. Development Agreement dated September 11, 2003 between the City and Forestville Association regarding development of Wolf Ranch (collectively, the "Proposed Improvements"). B. Estimated Cost of Improvements The estimated cost of the Proposed Improvements is Twenty Nine Million Dollars (S29,000,000.00) and is detailed in Exhibit A which is also the maximum amount the City has agreed to contribute to the development of the Proposed District C. The Proposed District Boundary The boundaries of the Proposed District are described in Exhibit B attached hereto and incorporated herein D. Proposed Method of Assessment A Public Road Improvements Assessment shall be levied against property within the Proposed District owned by the Landowners, when, on an annual basis, fifty-three percent (53%) of the one-half (VI) cent portion of the City's sales tax generated from businesses located within the Proposed District does not produce revenue sufficient to pay the City's debt service and related reserve funds for the obligations issued by the City to fund the MAR 26 2004 15:52 FR SE EGAL DEVELOPMENT317 263 7038 TO 919303681 P.03/06 Public Road Improvements. The amount of the Public Road Improvements Assessment shall represent the difference between the amount of the sales tax generated within the Proposed District for the immediately preceding fiscal year ending September 30th and the debt service and related reserves for the obligations issued by the City to fund the Public Road Improvements. A Public Utility improvements Assessment shall be levied against the property within the Proposed District owned by the Landowners when on an annual basis the utility revenues generated from businesses located within the Proposed District do not produce revenue sufficient to pay the City's debt service and related reserve funds for the obligations issued by the City to fund the Public Utility Improvements. The amount of the assessment shall represent the difference between the amount of the utility revenues generated within the Proposed District for the immediately preceding fiscal year ending September 30t and the debt service and related reserves for the obligations issued by the City to fund the Public Road Improvements for that same fiscal year. In the event the City exercises its option to purchase the Public On -Site Improvements or refinance the obligations issued to finance the Proposed Improvements, a Public On -Site Improvements Assessment shall be Levied against property within the Proposed District when, on an annual basis, fifty-three percent (53%) of the City's one percent (1%) portion of the sales tax generated from businesses located within the Proposed District does not pmduc a revenue sufficient to pay the City's debt service and related reserve funds for any obligations issued by the City to acquire and/or reimburse the costs related to certain Public On -Site Improvements. The amount of the assessment shall represent the difference between fifty-three percent (53%) of the City's one percent (1%) portion of the sales tax generated within the Proposed District for the immediately preceding fiscal year ending September 30th, and the debt service and related reserve funds for the obligations issued by the City to fund the Public On -Site Improvements for that same fiscal year. E. Proposed Apportionment of Costs Between the Proposed District and the City All costs of the Proposed District, including administrative costs and costs of collection, shall be incurred by the Proposed District F. Management of the Proposed District The Proposed District shall be managed solely by the City of Georgetown, Texas. G. Concurrence in Establishment of Proposed District The undersigned request and/or concur with the establishment of the Proposed District. H. Establishment of Advisory Board An advisory body may be established to develop and recommend an improvement plan to the City. MAR 26 2004 15:52 FR Sr EGAL DEVELOPMENT317 263 7038 TO Si; '9303681 P.04/06 • SIGNED this the k` day of 2004. SPG WOLF RANCH, L.P., a Texas limited partnership By: SIMON PROPERTY GROUP (TEXAS), L.P., a Texas limited partnership, General Partner By: GOLDEN RING MALL COMPANY LIMITED PARTNERSHIP an Indiana limited partnership, General Partner By: SIMON PROPER .GROUP (DELAWARE) 1 a Delaware corporation G er By: D''dSi•on Chie. E • utive Officer Date: '1&rc tiC v 4 1141.11 y This instrument was acknowledged before me on this the .2 day of Ametk , 2004 by David Simon, Chief Executive Officer of Simon Property Group (Delaware), Inc. a Delaware corporation, General Partner of Golden Ring Mall Company Limited Partnership, an Indiana limited partnership, General Partner of Simon Property Group (Texas), L.P., a Texas limited partnership, General Partner of SPG Wolf Ranch, L.P., a Texas limited partnership in his capacity as Chief Executive Officer of the General Partner of Simon Property Group (Texas) L.P., a Texas limited partnership which is the General Partner of SPG Wolf Ranch L.P., a Texas limited partnership. blic, State of Indiana steSa Cam t raQ... S.- a .,` ., �.7 MAR 26 2004 15:53 FR sr EGAL DEVELOPMENT317 263 7038 TO 91` 9303681 P.05/06 Wolf Ranch Public Improvement District #1 EXHIBIT A Estimated Cost of Improvements F1XICIBrT/A PUBLIC ON-SI'I: E IMPROVEMENTS I. Description of Public On -Site Improvements: 11'hM: Water distribution system Storm sewers and drainage ponds Sanitary sewers • Electric tine relocation and installation Parking lots and on -site roadways Landscape areas Public areas and plazas TOTAL NOT TO EXCEED $15,000,000 IL Submission of Data: Because the performance based economic development incentive grant payments to be paid by the City to Simon under the terms of this Agreement are to be based solely on annual sales tax revenue from new or expanded businesses at the Property as set out under Sections 3.3 and 3.4 of the Agreement, the method of pmv ding sales tax data on which to make these payments are to be based is necessary. Such businesses may pay sales tax monthly, quarterly, .or annually, depending on the size of the business. Accordingly, Simon shall obtain a waiver of Sales Tax Confidentiality in the form attached hereto from eachbuwiness located in the Project on the Property As soon as practical after the end of each year, beginning with the twelve months including the first month durmg which the I% portion of the City's sales tax referred to under Section 3.4.5 is paid to the State of Texas, Simon. shall submit to the City the schedule from the Texas Comptroller of Public Accounts pursuant to the Waivers submitted detailing Sales Tax Revenues broken out for each business in the Project on the Property for which tax sharing is due showing the amount of sales tax paid to the State of Texas for the City for the year. As a backup for the schedule, Simon shall submit the following: EXU 3IT,,D",& PUi3LIC ROAD IMPROVEMENTS TASK NAME City of Georgetown Funded Execute S.H. 29 Advanced Funding Agreement Purchase S.H. 29 Right-of-way (Including Water Quality Pond and relocation of utilities) Execute LPL 35 Advanced Funding Agreement LH. 35 Front. Read Bridge Water Quality Pond Construction S.H. 29 Interim Constriction S.H. 29 Rehabilitation (Including CR 265 E & W) Mobilisation Contingency City Share of Public Road Improvements ESTIMATED NUMBER OF DAYS TO COMPLE 1`E (1� ROM DATE OF SIMON'S NOTICE TO PROCEED PER SECTION L2(13) OF i'liE DEVELOPMENT AGREEMENT) * 30 180 30 365 60 60 210 Nat to Exceed S10.5 Million *Tasks may be accelerated by Letter Agreement signed by all Parties per Section 1.1 of the Development Agreement. EXHIBIT E PUBLIC UTILITY IMPROVEMENTS Wastewater Baseline Improvements** Georgetown Utility Systems Water Electric -Approximately 2,400 LE of 21" gravity sewer as shown on the City of Georgetown Comprehensive Plan trenched along the San Gabriel River from the west property line to a Lift Station to be Located near toe west 135 ROW line, -Approximately 2,100 LP of 8" force main from.the Lift Station to FM 2243, -Approximately 1,000 LF of 12" gravity sewer to the west 135 ROW lint, -Approximately 600 LE of 18" gravity sewer bocci under 135 using an intermediate bore pit and installation of a 30" steel encasement. **Upsizing of wastewater infrastructure is subject to available funding after completion of baseline scope. *Georgetown Utility Systems -Approximately 3,000 LE of 24" water line from the east property line to the west property line. *Georgetown Utility Systems -Approximately 3,000 LP of buried electric service along the property frontage of SH 29 that is relocated f:oni overhead, -Two underground bores under SH 29 to save customers an the north side of SH29, The dSgn will allow for a future underground feeder on SR 29 allowing a loop electrical feed for the Wolf Ranch Development Project as well as a tie line to the Leander Road area, -Relocate existing overhead to new overhead along south side of SS 29 betweenCa 265 West and DB Wood, and Relocate existing overhead to new overhead north of SE 29 west of CR 265 West. Estimated project completion for all projects on this Exhibit is 14 months from the date of Simon's Notice to Proceed per Section 1.2(B) of the Development Agreetneut.*** Total estimated "Not to Exceed" cost associated with this Exhibit is S3,500,000. *The relocation of portions of these utilities are related to the SH 29 roadway widening and could also be considered a cost of roadway improvements and funded as part of Exhibit "H". The estimated date for completion of all utility relocation will be consistent with the completion schedule of Exhibit `B". ***Tasks may be accelerated by Letter Agreement signed by all Parties per Section. 1.1 of the Development Agreement. MAR 26 2004 15:53 FR Sl EGAL DEVELOPMEN131? 263 7038 TO 91 ".9303681 P.06/06 Wolf Ranch Public Improvement District #1 EXHIBIT B The Assessment District Boundary LOCATION MAP Legend Road Type Cosecrnr Fcteway thal .or Maul • Or Arrant OW hppp e4 M •-••••- Proposed Colt •-e— RaacoaQ Knl!r'V n Na72003-so e~• sC1tyumds ' E l:UU e«,n4MY 1 Parsons City of Cseolvetown Planning and Development Services Oivis$o& Graft Cartographic Data for Planning Purposes Only Aplit 25, 2003 0 400 1,000 1.600 24000 Exhibit/Ye) Simon Wolf Ranch 100.676 ACRES WOLF RANCH SUBDIVISION DESCRIPTION FN NO. 03-128(JJM) JUNE 12, 2003 BPI JOB NO. 1262-01 OF A 100.676 ACRE TRACT OF LAND OUT OF THE CLEMDI STUBBLEFIELD SURVEY, ABSTRACT NO. 558, SITUATED IN WILLIAMSON COUNTY, TEXAS, BEING A PORTION OF THE REMAINDER OF THAT CERTAIN 412 ACRE TRACT OF LAND CONVEYED TO JAY L. WOLF BY DEED OF RECORD IN VOLUME 422, PAGE 84 OF THE DEED RECORDS OF WILLIAMSON COUNTY, TEXAS, ALL OF THAT CERTAIN 1.153 ACRE TRACT OF LAND CONVEYED TO PAUL EDWIN HINDELANG AND WIFE, JUDY WOLF HINDELANG BY DEED OF RECORD IN VOLUME 824, PAGE 434 OF SAID DEED RECORDS( AND ALL OF THAT CERTAIN 0.68 ACRE TRACT OF LAND CONVEYED TO TRAVIS CARTER AND WIFE, JO BETH CARTER BY DEED OF RECORD IN VOLUME 1003, PAGE 150 OF THE OFFICIAL RECORDS OF WILLIAMSON COUNTY, TEXAS, SAID 100.676 ACRE TRACT BEING MORE PARTICULARLY DESCRIBED BY METES AND BOUNDS AS FOLLOWS: COMMENCING, at a concrete highway monument found at the southwesterly intersection of Interstate Highway 35 (R.O.W. Varies) and State Highway 29 (100' R.O.W.), being the northeasterly corner of a remaining portion of said 412 acre tract; THENCE, SO1°07'26"W, leaving the southerly right-of-way line of State Highway 29, along the westerly right-of-way line of Interstate Highway 35, a distance of 175.29 feet to a 1/2 inch iron rod with cap set for the POINT OF BEGINNING and the northeasterly corner hereof;. THENCE, continuing along the westerly right-of-way line of Interstate Highway 35, being the easterly line of the remainder of said 412 acre tract and hereof, the following three (3) courses and distances: 1) SO1°07'26"W, a distance of 523.37 feet to a concrete highway monument found at the point of curvature of a non -tangent curve to the left; 2) Along said non -tangent curve to the left having a radius of 4119.70 feet, a central angle of 16°48'18", an arc length of 1208.32 feet and a chord which bears SO6°39125"E, a distance of 1203.99 feet to a concrete highway monument found at highway PT -Station 900+20.69 for the end of said curve; 3) S15°03'36"E, passing at a distance of 302.00 feet a 1/2 inch iron rod with cap set for reference, and continuing for a total distance of 604.28 feet to a calculated point in the centerline of the South San Gabriel River for the southeasterly corner of the remainder of said 412 acre tract and hereof, same being the northeasterly corner of Lot i, Block "A" South Fork Apartments, a subdivision of record in Cabinet F, Slides 341-342 of the Plat Records of Williamson County, Texas; • r ntWant No.e4 200 FN 03-128(JJM) JUNE 12, 2003 PAGE 2 OF 3 THENCE, leaving the westerly right-of-way line of Interstate Highway 35, along the centerline meanders of South San Gabriel River, being the southerly line of said 412 acre tract and hereof, and in part the northerly line of said Lot 1 South Fork Apartments, in part the northerly line of those certain tracts of land conveyed to R.W. Pearce by deed of record in Volume 695, Page 347 and Volume 635, Page 907, both of said Official Records, in part the northerly lines of Lots 24-30 San Gabriel Heights Section Four, a subdivision of record in Cabinet C, Slide 224 of said Plat Records, and in part the northerly lines of Lot 2 Resubdivision of San Gabriel Heights Section Six, a subdivision of record in Cabinet P, Slide 247 of said Plat Records, the following nineteen (19) courses and distances: 1) N82°31'35"W, a distance of 148.00 feet; 2) N69°52'99"W, a distance of 186.00 feet; 3) N60°55'31"W, a distance of 75.00 feet; 4) N54°21'29"W, a distance of 114.00 feet; 5) N30°22'32"W, a distance of 56.00 feet; 6) N54°16'27"W, a distance of 81.00 feet; 7) N42°36'13"W, a distance of 334.00 feet; 8) N50°45139"14, a distance of 181.00 feet; 9) N70°59'02"W, a distance of 221.00 feet; 10) S82°47'11"W, a distance of 243.00 feet; S77°17'21"W, a distance of 140.00 feet; 12) S65°06116"W, a distance of 131.00 feet; 13) S45°07'52"W, a distance of 59.00 feet; 14) S71°38'24"W, a distance of 209.00 feet; 15) 857°O1'55"W, a distance of 155.00 feet; 16) S71°36'17"W, a distance of 56.00 feet; 17) 887°33'51"W, a distance of 156.00 feet; 886°18'35"W, a distance of 82.00 feet; 11) 18) 1Rtd ance No.2003e90 FN 03-128 (JJM) JUKE 12, 2003 PAGE 3 OF 3 19) S69°23'45"W, a distance of 45.05 feet to the southwesterly corner hereof, being in the northerly line of said Lot 2 Resubdivision of San Gabriel Heights Section Six; THENCE, NO2°21'16"W, leaving the centerline meanders of the South San Gabriel River, over and across said 412 acre tract for the westerly line hereof, passing at a distance of 126.00 feet a 1/2 inch iron rod with cap set for reference, again passing at a distance of 671.00 feet a cotton spindle set for reference, and continuing for a total distance of 2128 80 feet to a 1/2 inch iron rod with cap set in the southerly right-of-way of State Highway 29, being the northerly line of said 412 acre tract for the northwesterly corner hereof, from which a concrete highway monument found in the southerly line of State Highway 29, being in the northerly line of Lot 1 Legend Oaks Section II, a subdivision of record in Cabinet I, Slide 269 of the Plat Records of Williamson County, Texas, bears S87°38'44"W, a distance of 891.29 feet; THENCE, N87°38'44"E, along the southerly right-of-way line of State Highway 29, being the northerly line of said 412 acre tract and hereof, a distance of 1884.43 feet to a 1/2 inch iron rod with cap set, from which a 1/2 inch iron rod found at the southwesterly right-of-way cut -back corner of State Highway 29 and Interstate Highway 35 bears N87°38'44"E, a distance of 175.29 feet; THENCE, leaving the southerly right-of-way line of State Highway 29, over and across said remaining portion of 412 acre tract, the following two (2) courses and distances: 1) S02°21'16"E, a distance of 257.34 feet with cap set; 2) S88°52'34"E, a distance of 256.34 feet to BEGINNING, containing an area of 100.676 acres ft.) of land, more or less, within these metes to a 1/2 inch iron rod the POINT OF (4,385,447 sq. and bounds. THAT I, JOHN T. BILNOSKI, A. REGISTERED PROFESSIONAL LAND SURVEYOR, DO HEREBY CERTIFY THAT THE PROPERTY DESCRIBED HEREIN WAS DETERMINED BY A SURVEY MADE ON THE GROUND UNDER MY DIRECTION AND SUPERVISION. BURY & PARTNERS, INC. ENGINEERS -SURVEYORS 3345 BEE CAVE ROAD, SUITE 200 AUSTIN, TEXAS 78746 JOHN R.P, STA7 T. BILNOSK .S. NO. 49 OF TEXAS Draft 4/5/04 Notice of Public Hearing Notice is hereby given of a public hearing to be held in accordance with Chapter 372.009, Texas Government Code, to consider the advisability of establishing a Public Improvement Assessment District. Said Public hearing is to be held at 6:00 p.m. on the 11`h day of May, 2004 at the City Hall of the City of Georgetown, located at 101 E Seventh Street, Georgetown Texas Considered at such hearing is the advisability of construction and/or acquisition of public infrastructure improvements such as public roads, public utilities and public on site improvements as further provided in the Development Agreement dated September 11, 2003 between the City and Forestville Association regarding development of Wolf Ranch located in or benefitting the tract of land shown below. The cost of improvements are estimated not to exceed $29,000,000. a) The proposed method of assessment shall be divided into two classes. A Public Road Improvements Assessment shall be levied against property within the Proposed District owned by the Landowners, when, on an annual basis, 53% of the ''A cent portion of the City's sales tax generated from businesses located within the Proposed District does not produce revenue sufficient to pay the City's debt service and related reserve funds for the obligations issued by the City to fund the Public Road Improvements. The amount of the Public Road Improvements Assessment shall represent the difference between the amount of the sales tax generated within the Proposed District for the immediately preceding fiscal year ending September 30`h and the debt service and related reserves for the obligations issued by the City to fund the Public Road Improvements. A Public Utility Improvements Assessment shall be levied against the property within the Proposed District owned by the Landowners when on an annual basis the utility revenues generated from businesses located within the Proposed District do not produce revenue sufficient to pay the City's debt service and related reserve funds for the obligations issued by the City to fund the Public Utility Improvements. The amount of the assessment shall represent the difference between the amount of the utility revenues generated within the Proposed District for the immediately preceding fiscal year ending September 30th and the debt service and related reserves for the obligations issued by the City to fund the Public Road Improvements for that same fiscal year. In the event the City exercises its option to purchase the Public On -Site Improvements or refinance the obligations issued to finance the Proposed Improvements, a Public On -Site Improvements Assessment shall be levied against property within the Proposed District when, on an annual basis, 53% of the City's 1 % portion of the sales tax generated from businesses located within the Proposed District does not produce revenue sufficient to pay the City's debt service and related reserve funds for any obligations issued by the City to acquire and/or reimburse the costs related to certain Public On -Site Improvements. The amount of the assessment shall represent the difference between 53% of the City's 1% portion of the sales tax generated within the Proposed District for the immediately preceding fiscal year ending September 30th, and the debt service and related reserve funds for the obligations issued by the City to fund the Public On -Site Improvements for that same fiscal year. b) The improvements will be financed through the issuance of bonds by the City which may be repaid by assessments on property owners within the Public Improvement Assessment District. The assessments shall be a first and prior lien against each lot. Property owners may pay the entire amount of the assessment when due after construction and/or acquisition of the project or will be given the option to pay this assessment over a period coinciding with the amortization of the bonds on a monthly or yearly installment basis including their share of the amortized assessment plus interest on the bonds. All costs of the proposed district shall be incurred by the district. map: c) Spanish translations are available upon request from the City of Georgetown, Texas. The boundaries of the Public Improvement Assessment District are shown on the following [INSERT DESCRIPTION OR MAP]