HomeMy WebLinkAboutORD 2021-94 - North Georgetown TIRZORDINANCE NO. 2021-
An Ordinance of the City Council of the City of Georgetown, Texas, designating a
certain area within the City of Georgetown, Williamson County, Texas, as Tax
Increment Reinvestment Zone Number Six ("North Georgetown TIRZ");
establishing the boundaries of such Tax Increment Reinvestment Zone; creating a
Board of Directors for said Tax Increment Reinvestment Zone, and other matters
related thereto; containing findings; providing a repealing clause; providing a
severability clause; and providing an effective date.
Whereas, the City Council desires to promote the development or redevelopment of a
certain geographic area within its jurisdiction by the designation of a tax increment reinvestment
zone, as authorized by the Tax Increment Financing Act, Chapter 311, of the Texas Tax Code (the
"Act"); and
Whereas, in compliance with the Act, the City called a public hearing to receive comments
on the creation of the proposed tax increment reinvestment zone and its benefits to the City and
the property in the proposed tax increment reinvestment zone; and
Whereas, in compliance with the Act, notice of the public hearing was published in a
newspaper of general circulation in the City, such publication date being not later than seven (7)
days prior to the date of the public hearing; and
Whereas, such public hearing was convened at the time and place mentioned in the
published notice, to -wit, on the 14th day of December 2021 at 6:30 p.m., at the City Council
Chambers in the City Hall of the City of Georgetown, Texas, which hearing was then closed; and
Whereas, the City, at such public hearing, invited any interested person, or the person's
representative, to appear and speak for or against the creation of the proposed tax increment
reinvestment zone, the boundaries of the proposed tax increment reinvestment zone, as described
in Exhibit "A" attached hereto and as depicted in the map attached hereto as Exhibit "B", whether
all or part of the territory described in Exhibit "A" and as depicted in Exhibit `B" should be
included in such proposed tax increment reinvestment zone, and for or against the concept of tax
increment financing; and
Whereas, all owners of property located within the proposed tax increment reinvestment
zone were given the opportunity at such public hearing to protest the inclusion of their property in
the proposed tax increment reinvestment zone; and
Whereas, the City has prepared a preliminary project and reinvestment zone financing plan
attached hereto as Exhibit "C".
Now, therefore, be it ordained by the City Council of the City of Georgetown, Texas, that:
Section 1. The facts and recitations contained in the preamble of this Ordinance are hereby
found and declared to be true and correct.
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Description: 71kZ_ Case File Number:
Date Approved: Oe Exhibits Attached
Section 2. The City Council, after conducting such public hearing and having heard such
evidence and testimony has made the following findings and determinations based on the evidence
and testimony presented to it:
(a) That the public hearing on adoption of the tax increment reinvestment zone has
been properly called, held, and conducted and that notice of such hearing has been
published as required by law.
(b) That creation of the proposed tax increment reinvestment zone with boundaries as
described in Exhibit "A" and as depicted in Exhibit "B" will result in benefits to
the city, its residents and property owners, in general, and to the property, residents
and property owners in the proposed tax increment reinvestment zone.
(c) That the proposed tax increment reinvestment zone, as defined in Exhibit "A" and
as depicted in Exhibit `B", meets the criteria for the creation of a tax increment
reinvestment zone as set forth in the Act in that it is a geographic area located
wholly within the corporate limits of the City and the area meets the criteria set
forth in the Act for the designation as a tax increment reinvestment zone under Tax
Code, Section 311.005.
(d) That the total appraised value of all taxable real property in the proposed tax
increment reinvestment zone according to the most recent appraisal roll of the City,
together with the total appraised value of taxable real property in all other existing
tax increment reinvestment zones within the City, according to the most recent
appraisal roll of the City, does not exceed fifty percent (50%) of the current total
taxable value of taxable real property in the City and in the industrial districts
created by the City, if any.
(e) That the proposed improvements in the proposed tax increment reinvestment zone
will significantly enhance the value of all taxable real property in the proposed tax
increment reinvestment zone and will be of general benefit to the City.
(f) That the development or redevelopment of the property in the proposed tax
increment reinvestment zone will not occur solely through private investment in the
reasonably foreseeable future.
(g) That not more than thirty percent (30%) of the property in the proposed tax
increment reinvestment zone, excluding property that is publicly owned, is
currently used for residential purposes.
(h) That the proposed tax increment reinvestment zone is 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 or county.
(i) That the proposed tax increment reinvestment zone substantially arrests or impairs
the sound growth of the City, retards the provision of housing accommodations, or
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Description: T (QZ Case File Number:
Date Approved: Exhibits Attached
constitutes an economic or social liability and is a menace to the public health,
safety, morals, or welfare in its present condition and use because of the presence
of:
(1) The predominance of defective or inadequate sidewalk or street layout; and
(2) Faulty lot layout in relation to size, adequacy, accessibility, or usefulness.
Section 3. The City hereby designates a tax increment reinvestment zone over the area
described in Exhibit "A" attached hereto and as depicted in the map attached as Exhibit `B", and
such tax increment reinvestment zone shall hereafter be identified as "Reinvestment Zone Number
Six, City of Georgetown, Texas" or "North Georgetown TIRZ" (hereinafter sometimes referred to
herein as the "Reinvestment Zone").
Section 4. There is hereby established a board of directors for Reinvestment Zone, which
shall consist of at least five (5) but not more than fifteen (15) members, unless more members are
required to be appointed to satisfy the requirements of Section 311.009, Tax Code. The members
of the Board of Directors of the Zone shall be appointed as follows:
(a) The City shall be entitled to appoint a minimum of five (5) and a maximum of ten
(10) members of the Board of Directors, except that if there are fewer than five (5)
directors appointed by taxing units other than the City, the City Council may
appoint more than ten (10) members as long as the total membership of the Board
of Directors does not exceed fifteen (15) members. The City Council shall appoint
its initial members to the Board of Directors within sixty (60) days after passage of
this Ordinance.
(b) Each taxing unit, other than the City, that levies taxes on real property in the
Reinvestment Zone may appoint one member of the Board of Directors if the taxing
unit has approved the payment of all or part of the tax increment produced by such
taxing unit into the tax increment fund for the Reinvestment Zone. A taxing unit
eligible to appoint a member to the Board of Directors may waive such right. If a
taxing unit waives its right to appoint a member of the board, the City may appoint
a member to the Board of Directors to such position. The governing body of each
taxing unit, other than the City, eligible to appoint a member to the Board of
Directors shall appoint such member within sixty (60) days after such taxing unit
has entered into an agreement with the City for payment of all or part of the tax
increment produced by such taxing unit into the tax increment fund for the Zone.
Failure of such taxing unit to appoint a director within such sixty (60) day period
shall be deemed a waiver of the right to appoint a director, and the City Council
shall be entitled to appoint a person to such position.
(c) A vacancy on the Board of Directors shall be filled as set forth in the Act. Positions
one through three on the Board of Directors are reserved for the City. The remaining
positions are reserved for other taxing units that levy real property taxes in the
Reinvestment Zone and if the taxing unit has approved the payment of all or part
of the tax increment produced by such taxing unit into the tax increment fund for
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the Reinvestment Zone. The City Council shall appoint additional member(s) to
maintain a board of at least five (5) members. The directors appointed by taxing
units other than the City shall be assigned a Board position in the order that the City
receives the appointment. All members appointed to the Board of Directors shall
meet eligibility requirements as set forth in the Act.
(d) The terms of office for members of the Board of Directors shall be for two (2) years.
Each year the City Council shall designate a member of the Board of Directors to
serve as Chairperson of the Board of Directors. The Chairperson shall serve a term
of office of one year that runs from January 1 through and including December 31
of the calendar year. The Board of Directors shall elect from its members a Vice -
Chairperson and other officers, as it deems appropriate.
(e) The Board of Directors shall make recommendations to the City Council
concerning the administration of the Zone. It shall prepare and adopt a project plan
and the reinvestment zone financing plan for the Reinvestment Zone and must
submit such plans to the City Council for its approval. The City Council delegates
to the Board of Directors all powers necessary to prepare and implement the project
and the reinvestment zone financing plans for the Zone, including any required
annual reports on the status of the Zone, all subject to the prior approval of the City
Council. The Board of Directors may not enter into agreements to implement the
project and reinvestment zone plan without the express authorization of the City
Council.
Section 5. The Zone shall take effect on adoption of this Ordinance, and the termination of
the Zone shall occur on December 31, 2038 (with collection of 2038 tax increment in 2039) , or at
an earlier time designated by subsequent ordinance of the City Council, or at such time subsequent
to the issuance of any tax increment bonds, if any, that all project costs, tax increment bonds, notes
or other obligations of the Reinvestment Zone, and the interest thereon, if any, have been paid in
full.
Section 6. The tax increment base for the Reinvestment Zone, which is the total taxable
value of all taxable real property located in the Reinvestment Zone, is to be determined as of
January 1, 2021, the year in which the Reinvestment Zone was designated as a tax increment
reinvestment zone (the "Tax Increment Base"). Tax Increment Base means the total appraised
value of all real property taxable by a taxing unit located in the Reinvestment Zone for the 2021
tax year. "Tax Increment" means the total amount of real property taxes levied and collected by a
taxing unit for that year on the Captured Appraised Value of real property taxable by a taxing unit
and located in the Reinvestment Zone. Captured Appraised Value means the total taxable value of
all real property taxable by a taxing unit and located in the Reinvestment Zone for the year, less
the Tax Increment Base of the taxing unit. For purposes of this Ordinance "taxing unit" means the
City of Georgetown and any other political subdivision or special district that taxes real property
within the Reinvestment Zone that enters into an agreement with the City for the payment of all or
part of the tax increment produced by such other taxing unit into the Tax Increment Fund for the
Zone.
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Section 7. There is hereby created and established a Tax Increment Fund for the
Reinvestment Zone which may be divided into such sub -accounts as may be required, into which
all Tax Increments contributed by the City or other taxing unit, less any of the amounts not required
to be paid into the Tax Increment Fund pursuant to the Act, are to be deposited. All Tax Increments
as defined herein shall be deposited in the Tax Increment Fund. The Tax Increment Fund and any
sub -accounts are to be maintained at the depository bank of the City and shall be secured in the
manner prescribed by law for funds of the City. In addition, all revenues from the sale of any tax
increment bonds, notes or certificates of obligation, hereafter issued by the City; revenues from
the sale of any property acquired as part of the Reinvestment Zone financing plan; and any other
revenues to be dedicated to and used in the Reinvestment Zone shall be deposited into the Tax
Increment Fund or sub -account from which money will be disbursed to pay project costs for the
Reinvestment Zone or to satisfy the claims of holders of tax increment bonds, notes or certificates
of obligations issued for the Reinvestment Zone, or to satisfy other obligations authorized by the
Act.
Section 8. The City will participate in the Zone for a period of fifteen (15) years by
contributing and depositing into the Tax Increment Fund sixty percent (60%) of the City's tax
increment from real property ad valorem taxes assessed and collected for tax years 2024 through
and including 2028; fifty-five percent (55%) of the City's tax increment from real property ad
valorem taxes assessed and collected for tax years for years 2029 through and including 2033; and
fifty percent (50%) of the City's tax increment from real property ad valorem taxes assessed and
collected for tax years 2034 through and including 2038.
Section 9. All provisions of the ordinances of the City of Georgetown, in conflict with the
provisions of this Ordinance be, and the same are hereby, repealed, and all other provisions of the
ordinances of the City of Georgetown not in conflict with the provisions of this Ordinance shall
remain in full force and effect.
Section 10. Should any sentence, paragraph, subdivision, clause, phrase, or section of this
Ordinance be adjudged or held to be unconstitutional, illegal, or invalid, the same shall not affect
the validity of this Ordinance as a whole or a part or provision thereof other than the part thereof
decided to be unconstitutional, illegal, or invalid.
Section 11. The Mayor or City Manager is hereby authorized to execute any contracts or
other agreements with any taxing units that elect to enter into an agreement with the City for
payment of all or part of the tax increment produced by such other taxing unit into the Tax
Increment Fund for the Reinvestment Zone.
Section 12. This Ordinance shall take effect immediately from and after its passage and the
publication of the caption, as the law and charter in such cases provide.
APPROVED on First Reading on the L6ay a 2021.
APPROVED AND ADOPTED on Second Reading on the 1: day of 021.
Ordinance Number: 2021- Page 5 of 29
Description: Case File Number:
Date Approved: Exhibits Attached
THE CITY OF GEO OWN: ATTEST:
Josh Schroeder Robyn DUnsmore
Mayor V z City Secretary
APPROVED ASLO FORM:
kye asson,(City Attorney
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Description: Case File Number:
Date Approved: Exhibits Attached
Exhihit "A"
Legal Description of the Zone
FIELD NOTES FOR A 119.784 ACRE TRACT OF LAND:
BEING A 119.784 ACRE TRACT OF LAND, LOCATED IN THE WILLIAM ROBERTS SURVEY,
ABSTRACT NO. 524, WILLIAMSON COUNTY, TEXAS; SAID 119.784 ACRE TRACT, BEING
ALL OF THAT CALLED 1 11.36 ACRE TRACT OF LAND KNOWN AS "TRACT I", THE
REMAINING PORTION OF THAT CALLED 7.3 ACRE TRACT OF LAND KNOWN AS
"TRACT II", AND ALL OF THAT CALLED 2.12 ACRE TRACT OF LAND KNOWN AS "TRACT
III", RECORDED IN VOLUME 512, PAGE 71, DEED RECORDS, WILLIAMSON COUNTY,
TEXAS, AND BEING ALL OF THAT CALLED 3.05 ACRE TRACT OF LAND RECORDED IN
VOLUME 545, PAGE 392, DEED RECORDS, WILLIAMSON COUNTY, TEXAS, BEING THE
SAME PROPERTY CONVEYED TO JASPER N. SUDDUTH AND WIFE, IDA P. SUDDUTH IN
INSTRUMENT RECORDED IN VOLUME 512, PAGE 71 AND BEING ALL OF THE SAME
PROPERTY CONVEYED TO DONALD HOYLE AND WIFE, PATSY S. HOYLE IN
INSTRUMENT RECORDED IN VOLUME 545, PAGE 392; SAID 119.784 ACRE TRACT
BEING MORE PARTICULARLY DESCRIBED BY METES AND BOUNDS AS FOLLOWS:
BEGINNING at a 1 /2" iron rod located for the northwest corner of the remainder of
said 7.3 acre tract, the northeast corner of that called 54.3 acre tract of land
recorded in Document No. 2014088568, Official Public Records, Williamson
County, Texas, being an angle point of that called 104.89 acre tract of land
recorded in Document No. 2008016952, Official Public Records, Williamson
County, Texas, said point being the northwest corner of the herein described tract
of land;
Thence, with the northwest lines of the remainder of said 7.3 acre tract, said 2.12
acre tract, and said 111.36 acre tract, the southeast lines of said 104.89 acre tract,
the following two (2) courses and distances:
1. N 64' 22' 55" E, a distance of 197.60' (Record per Doc. No. 2008016952: N 650
4536" E, a distance of 197.59'), to a 1 /2" iron rod located for an angle point
of the herein described tract of land;
2. N 680 12' 57" E, a distance of 1820.19' (Record per Doc. No. 2008016952: N
690 36' 19" E, a distance of 1820.51'), to a 1" square iron pipe located for an
angle point of said 111.36 acre tract, being the southeast corner of said
104.89 acre tract, the southwest corner of that called 72.32 acre tract of
land recorded in Volume 886, Page 335, Deed Records, Williamson County,
Texas, said point being an angle point of the herein described tract of land;
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Description: Case File Number:
Date Approved: Exhibits Attached
3. Thence, with the northwest line of said 111.36 acre tract, the southeast line
of said 72.32 acre tract, N 70' 40' 37" E, passing a 1" iron pipe located at a
distance of 656.89', continuing a total distance of 659.38' (Record: N 74' 10'
00" E, a distance of 658.61') (Record per Vol. 886, Pg. 335: N 72157' 00" E, a
distance of 658.13) (Record per Doc. No. 2006017468: N 700 39' 41" E, a
distance of 659.38'), to a 1 /2" iron rod located in the northwest right-of-way
line of Interstate Highway 35 Frontage Road as shown in Document No.
2006017468, Official Public Records, Williamson County, Texas, being the
northeast corner of said 111.36 acre tract, said point being the northeast
corner of the herein described tract of land;
4. Thence, with the northwest right-of-way line of Interstate Highway 35
Frontage Road, the southeast line of said 111.36 acre tract, S 130 56' 20" W,
passing a TxDOT concrete monument located at a distance of 543.58', a
TxDOT concrete monument located at a distance of 1000.60', a TxDOT
concrete monument located at a distance of 2001.10', continuing 100.54'
for a total distance of 3645.82' (Record per Doc. No. 2006017468: S 13' 56'
29" W, a distance of 3646.70'), to a calculated point in a power pole in the
northwest right-of-way line of Interstate Highway 35 Frontage Road as
shown in Document No. 2006017468, Official Public Records, Williamson
County, Texas, being the southeast corner of said 111.36 acre tract, said
point being the southeast corner of the herein described tract of land;
5. Thence, departing the northwest right-of-way line of Interstate Highway 35
frontage road, with the southeast lines of said 111.36 acre tract, said 2.12
acre tract, and the remainder of said 7.3 acre tract, the northwest line of
that called 1.249 acre tract of land known as "Second Tract", recorded in
Volume 1732, Page 249, Deed Records, Williamson County, Texas, S 67' 42'
10" W, passing a 3/8" iron rod located at a distance of 0.42' for the northeast
corner of said 1.249 acre tract, a 1 /2" iron rod located at a distance of
994.53for the northwest corner of said 1.249 acre tract, continuing 56.01' for
a total distance of 1050.96' (Record per Vol. 1732, Pg. 249: S 71 ° 00' 00" W, a
distance of 990.14'), to a calculated point in the center of Dry Berry Creek,
being the southwest corner of the remainder of said 7.3 acre tract, the
southeast corner of that called 45.00 acre tract of land recorded in
Document No. 2004002927, Official Public Records, Williamson County,
Texas, being in a northwest line of that called 71.997 acre tract of land
recorded in Document No. 2008000666, Official Public Records, Williamson
County, Texas, said point being the southwest corner of the herein
described tract of land;
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Description: Case File Number: _
Date Approved: Exhibits Attached
Thence, with the approximate center line of Dry Berry Creek, the following twelve
(12) courses and distances:
6. NIB' 43' 13" W, a distance of 119.07', to a calculated point for an angle
point of the herein described tract of land;
7. N 080 20' 24" W, a distance of 77.91', to a calculated point for an angle
point of the herein described tract of land;
8. N 060 15' 48" E, a distance of 102.38', to a calculated point for an angle
point of the herein described tract of land;
9. N 16' 24' 06" E, a distance of 224.02', to a calculated point for an angle
point of the herein described tract of land;
10. N 070 44' 03" E, a distance of 168.85', to a calculated point for an angle
point of the herein described tract of land;
11. N 070 06' 33" W, a distance of 204.47', to a calculated point for an angle
point of the herein described tract of land;
12. N 110 33' 16" W, a distance of 283.45', to a calculated point for an angle
point of the herein described tract of land;
13. N 130 30' 25" W, a distance of 113.69', to a calculated point for an angle
point of the herein described tract of land;
14. N 190 16' 42" W, a distance of 358.97', to a calculated point for an angle
point of the herein described tract of land;
15. N 210 52' 20" W, a distance of 91.57', to a calculated point for an angle
point of the herein described tract of land;
16. N 320 08' 36" W, a distance of 49.98', to a calculated point for an angle
point of the herein described tract of land;
17. N 420 07' 33" W, a distance of 44.61', to a calculated point in the center of
Dry Berry Creek, being in a northwest line of the remainder of said 7.3 acre
tract, a southeast line of said 54.3 acre tract, said point being an exterior
corner of the herein described tract of land;
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Description: Case File Number:
Date Approved: Exhibits Attached
18.Thence, departing the center of Dry Berry Creek, with a northwest line of the
remainder of said 7.3 acre tract, a southeast line of said 54.3 acre tract, N
620 51' 22" E, passing a 1 /2" iron rod located for reference at a distance of
30.81', continuing 52.06' for a total distance of 82.87', to a 1 /2" iron rod
located for an interior corner of the remainder of said 54.3 acre tract, the
southeast corner of said 54.3 acre tract, said point being an interior corner
of the herein described tract of land,
Thence, with the southwest lines of the remainder of said 7.3 acre tract, the
northeast lines of said 54.3 acre tract, the following fourteen (14) courses and
distances:
19. N 210 45' 16" W, a distance of 131.35' (Record per Doc. No. 2014088568: N
200 22' 13" W, a distance of 131.35), to a 60D nail located for an angle point
of the herein described tract of land;
20. N 200 31' 05" W, a distance of 60.86' (Record per Doc. No. 2014088568: N 190
06' 55" W, a distance of 60.76), to a 1 /2" iron rod with a blue "QUICK INC
RPLS 6447" plastic cap set for an angle point of the herein described tract of
land;
21. N 300 43' 16" W, a distance of 11.06' (Record per Doc. No. 2014088568: N 29'
19' 54" W, a distance of 11.05), to a 1 /2" iron rod with a blue "QUICK INC
RPLS 6447" plastic cap set for an angle point of the herein described tract of
land;
22. N 220 54' 40" W, a distance of 104.20' (Record per Doc. No. 2014088568: N
211 31' 18" W, a distance of 104.14'), to a 1 /2" iron rod located for an angle
point of the herein described tract of land;
23. N 180 03' 10" W, a distance of 130.05' (Record per Doc. No. 2014088568: N
160 4303" W, a distance of 130.08'), to a 1 /2" iron rod with a blue "QUICK INC
RPLS 6447" plastic cap set for an angle point of the herein described tract of
land;
24. N 230 12' 32" W, a distance of 100.95' (Record per Doc. No. 2014088568: N
210 5307" W, a distance of 101.09'), to a 1 /2" iron rod located for an angle
point of the herein described tract of land;
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25. N 200 47' 10" W, a distance of 180.56' (Record per Doc. No. 2014088568: N
191 26'34" W, a distance of 180.48'), to a 1 /2" iron rod located for an angle
point of the herein described tract of land;
26. N 220 02' 53" W, a distance of 104.75' (Record per Doc. No. 2014088568: N
200 3552" W, a distance of 104.99'), to a 1 /2" iron rod with a blue "QUICK INC
RPLS 6447" plastic cap set for an angle point of the herein described tract of
land;
27. N 260 22' 25" W, a distance of 33.25' (Record per Doc. No. 2014088568: N 240
5524" W, a distance of 33.32'), to a 1 /2" iron rod with a blue "QUICK INC
RPLS 6447" plastic cap set for an angle point of the herein described tract of
land;
28. N 080 48' 02" W, a distance of 6.36' (Record per Doc. No. 2014088568: N 070
21' 01" W, a distance of 6.37), to a 1/2" iron rod located for an angle point
of the herein described tract of land;
29. N 200 14' 35" W, a distance of 16.17' (Record per Doc. No. 2014088568: N 180
49' 16" W, a distance of 16.18'), to a 1 /2" iron rod with a blue "QUICK INC
RPLS 6447" plastic cap set for an angle point of the herein described tract of
land;
30. N 200 03' 30" W, a distance of 17.68' (Record per Doc. No. 2014088568: N 180
38' 11" W, a distance of 17.69'), to a 1 /2" iron rod with a blue "QUICK INC
RPLS 6447" plastic cap set for an angle point of the herein described tract of
land;
31. N 200 06' 15" W, a distance of 231.63' (Record per Doc. No. 2014088568: N
180 40' 56" W, a distance of 231.73'), to a 1 /2" iron rod with a blue "QUICK INC
RPLS 6447" plastic cap set for an angle point of the herein described tract of
land;
32. N 190 32' 43" W, a distance of 110.22' (Record per Doc. No. 2014088568: N
180 0724" W, a distance of 110.27), to the POINT OF BEGINNING containing
119.784 acres of land.
Note: The basis of bearing was established using the Trimble VRS Network, NAD
(83), Texas State Plane Coordinate System, Central Zone, 4203, US Survey Foot,
Grid. A survey plat was prepared by a separate document.
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Description: Case File Number:
Date Approved: Exhibits Attached
FIELD NOTES FOR A 104.884 ACRE TRACT OF LAND:
BEING A 104.884 ACRE TRACT OF LAND, LOCATED IN THE WILLIAM ROBERTS SURVEY,
ABSTRACT NO. 524, WILLIAMSON COUNTY, TEXAS; SAID 104.884 ACRE TRACT,
BEING ALL OF THAT CALLED 104.89 ACRE TRACT OF LAND RECORDED IN
DOCUMENT NO. 2020151834, OFFICIAL PUBLIC RECORDS, WILLIAMSON COUNTY,
TEXAS; SAID 104.884 ACRE TRACT BEING MORE PARTICULARLY DESCRIBED BY METES
AND BOUNDS AS FOLLOWS:
BEGINNING at a 1" square iron pipe located for the easternmost corner of said
104.89 acre tract, the southernmost corner of that called 72.32 acre tract of land
recorded in Volume 886, Page 335, Deed Records, Williamson County, Texas,
being an angle point of that called 111.36 acre tract of land known as "Tract I",
recorded in Volume 512, Page 71, Deed Records, Williamson County, Texas, said
point being the easternmost corner of the herein described tract of land;
Thence, with the southeast lines of said 104.89 acre tract, the northwest lines of
said 111.36 acre tract, the following two (2) courses and distances:
1. S 680 12' 57" W, a distance of 1820.19' (Record: S 690 36' 19" W, a distance
of 1820.51'), to a 1 /2" iron rod located for an angle point of the herein
described tract of land;
2. S 64' 22' 55" W, a distance of 197.60' (Record: S 650 4536" W, a distance of
197.59'), to a 1 /2" iron rod located for an angle point of said 104.89 acre
tract, the westernmost corner of said 1 1 1.36 acre tract, the northernmost
corner of that called 54.3 acre tract of land recorded in Document No.
2014088568, Official Public Records, Williamson County, Texas, said point
being an angle point of the herein described tract of land;
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Description: Case File Number:
Date Approved: Exhibits Attached
Thence, with the southeast lines of said 104.89 acre tract, the northwest lines of
said 54.3 acre tract, the following two (2) courses and distances:
3. S 69' 29' 55" W, a distance of 320.10' (Record: S 70' 51' 03" W, a distance of
319.99'), to a 1 /2" iron rod located for an angle point of the herein described
tract of land;
4. S 690 03' 58" W, a distance of 499.96' (Record: S 700 29' 45" W, a distance of
500.56'), to a 1 /2" iron rod located for the southernmost corner of said 104.89
acre tract, the easternmost corner of that called 33.63 acre tract of land
recorded in Document No. 2004079454, Official Public Records, Williamson
County, Texas, being an angle point of said 54.3 acre tract, said point being
the southernmost corner of the herein described tract of land;
5. Thence, with the southwest line of said 104.89 acre tract, the northeast line
of said 33.63 acre tract, N 21' 34' 01" W, a distance of 1625.97' (Record: N
200 09' 53" W, a distance of 1624.84'), to a 1 /2" iron rod located for the
westernmost corner of said 104.89 acre tract, the northernmost corner of
said 33.63 acre tract, being in a southeast line of that called 284.03 acre
tract of land recorded in Volume 656, Page 620, Deed Records, Williamson
County, Texas, said point being the westernmost corner of the herein
described tract of land;
6. Thence, with a northwest line of said 104.89 acre tract, the southeast line of
said 284.03 acre tract, N 69' 02' 47" E, a distance of 1795.12' (Record: N 70°
23' 23" E, a distance of 1795.28'), to a 1 /2" iron rod located for an angle point
of said 104.89 acre tract, an angle point of said 284.03 acre tract, an angle
point of said 72.32 acre tract, said point being an angle point of the herein
described tract of land;
Thence, with the common boundary lines of said 104.89 acre tract and said 72.32
acre tract, the following three (3) courses and distances:
7. N 69' 38' 42" E, a distance of 1053.77' (Record: N 710 0305" E, a distance of
1053.79'), to a 1" square iron pipe located for the northernmost corner of
the herein described tract of land;
Ordinance Number: 2021- Page 13 of 29
Description: Case File Number: _ _
Date Approved: Exhibits Attached
8. S 21 ° 18' 14" E, a distance of 554.64' (Record: S 190 54' 18" E, a distance
of 554.70'), to a 3/8" iron rod located for an angle point of the herein
describedtract of land;
S 21' 04' 34" E, a distance of 1020.48' (Record: S 190 42' 15" E, a distance
1020.54') to the POINT OF BEGINNING containing 104.884 acres of land
Ordinance Number: 2021- Page 14 of 29
Description: Case File Number:
Date Approved: Exhibits — - Attached
Exhibit "B"
Depiction of Zone
Ordinance Number: 2021-
Description:
Date Approved:
Page 15 of 29
Case File Number:
Exhibits Attached
Exhibit "C"
Preliminary Project and Financing Plan
North Georgetown
Tax Increment Reinvestment Zone
Preliminary Project Plan &
Reinvestment Zone Financing Plan
December 2021
Ordinance Number: 2021- Page 16 of 29
Description: Case File Number:
Date Approved: Exhibits Attached
Table of Contents
Introduction
A. Objectives
B. TIF Financing
C. Zone Description
II. Project Plan
A. Existing Uses and Conditions
B. Proposed Uses and Conditions
C. Municipal Ordinances and Agreements
D. Non -Project Costs
E. Relocation
III. Financing Plan
A. List of Estimated Project Costs
B. Kind, Number, and Location of Proposed Public Improvements to be
Financed by the TIRZ
C. Economic Feasibility Study
D. Estimated Bonded Indebtedness to be Incurred
E. Time of Incurring Monetary Obligations
F. Method of Financing/Sources of Revenue for Project Costs
G. Current Appraised Value
H. Estimated Captured Appraised Value
I. Duration of the TIRZ
IV. Board of Directors of the TIRZ
v. List of Exhibits
Ordinance Number: 2021- Page 17 of 29
Description: Case File Number:
Date Approved: Exhibits — — Attached
I. INTRODUCTION
A. Objectives
The Georgetown City Council desires to create Tax Increment Reinvestment Zone (TIRZ) #6,
aka the North Georgetown TIRZ, consisting of approximately 224 acres of land generally
located along IH35, north of the HWY195 intersection, pursuant to the Tax Increment
Financing Act, as codified in Chapter 311 of the Texas Tax Code, as amended (the "Act").
The purpose of the TIRZ creation is to finance public infrastructure needed to develop the
site for industrial and commercial use in partnership with Jackson Shaw (the Developer).
The land within the proposed TIRZ has been entitled for these uses as well as a portion for
multi -family.
Currently, the site does not have wastewater infrastructure in place, which has impeded
the development of this site and the surrounding area. The TIRZ would aid in offsetting the
cost of construction of a sanitary sewer interceptor along the Dry Berry Creek bed, as
outlined in the City's wastewater master plan. The line would be constructed by the
Developer to City requirements and become city -owned public infrastructure upon
completion and acceptance by the City.
This line would connect with the Berry Creek Interceptor, which is a current City capital
improvement project. The ultimate build of the infrastructure will allow for wastewater
service for a large area of the City of Georgetown spanning from HWY195 to IH35, including
the proposed TIRZ. The estimated cost of the Dry Berry Creek interceptor line is
approximately $10 million.
The TIRZ will take effect at the adoption of the ordinance by City Council, which will set the
base year at 2021 for the assessed valuation. The City will participate by contributing a
portion of the incremental increase in real property ad valorem taxes following a 15-year
contribution schedule that begins in 2024. The contribution schedule is 60% of the
incremental tax increase in years 1-5, 55% of the incremental tax increase in years 2-10,
and 50% of the incremental increase in years 11-15 with the last year of contribution being
2038.
Following approval of a development agreement, the Developer will then be reimbursed
for the expense of the public wastewater infrastructure construction utilizing annual
payments from the TIRZ fund. The maximum amount of reimbursement is $8.5 million, or
the end of the 15-year TIRZ period, whichever occurs first. The Developer must complete
construction of the wastewater line and 400,000 square feet of industrial development
prior to receiving reimbursement payments. The first 400,000 square feet of industrial
Ordinance Number: 2021- Page 18 of 29
Description: Case File Number:
Date Approved: Exhibits Attached
development can be serviced by temporary septic until the wastewater extension is
completed. All other development within the TIRZ must be serviced by the wastewater line.
B. TIF Financing
Tax Increment Financing (TIF) is a tool local government may use to finance public
improvements within defined areas that have unique challenges or opportunities for
economic development. A municipality may make an area eligible for tax increment
financing by designating a reinvestment zone (TIRZ). Taxes on the appraised value of the
zone in the year the zone was designated (the "base" year) continue flowing to the general
funds of taxing units, but, for participating government units, all or part of the increased
tax revenue due to greater real property values in the TIRZ flows to a tax increment
financing fund ('TIF" or "TIRZ") for a specified maximum term of years.
Inclusion of a property in a TIF zone does not change the tax rate for any property. Tax
rates in a TIF zone are the same as tax rates outside the zone and with the same set of
taxing jurisdictions.
Money flowing to the TIF/TIRZ is disbursed according to one or more development
agreements. These are contracts between the City of Georgetown and a developer. A
development agreement must accord with a TIF project plan and financing plan approved
by the City Council after a recommendation by a Board of Directors as prescribed by the
Act. The TIF fund may be used only as authorized by state law. Mere designation of a TIF
zone is not an entitlement to future tax flow. Only if the City Council approves execution of
a development agreement consistent with a TIF project plan and financing plan may cash
flow from the TIF fund and then only in accord with terms of a development agreement.
Ordinance Number: 2021- Page 19 of 29
Description: Case File Number:
Date Approved: Exhibits Attached
C. Zone Description
The map below depicts the vicinity and boundaries of the proposed North Georgetown
TIRZ. A metes and bounds description of all property located within the TIRZ is included as
Exhibit 1 to this plan.
LOCATION
2021-14-REZ
Ezhlbit tt
r sb
PBK4k
omru,ffft
M 0"WWM M
A
Ordinance Number: 2021- Page 20 of 29
Description: Case File Number:
Date Approved: Exhibits Attached
II. PROJECT PLAN
A. Existing Land Uses and Conditions
The TIRZ property is approximately 224 acres and currently zoned High -Density Multi -
Family (MF-2) a total of 18.874 acres, General Commercial (C-3) a total of 42.398 acres, and
Industrial (IN) a total of 163.433 acres. Zoning of the property was approved at the October
26, 2021 council meeting. The property is undeveloped and predominately vacant.
Y �1 If 1
I 1
W
Ordinance Number: 2021- Page 21 of 29
Description: Case File Number:
Date Approved: Exhibits Attached
B. Proposed Land Uses and Conditions
Proposed uses follow the zoning that is currently in place with approximately 1,700,000
square feet of industrial development, 392,000 square feet of commercial development,
and 388 multi -family units.
tit
1
�an.rn�i+�i nrr,nr rc�o`t
C. Municipal Ordinances and Agreements
All property located within the TIRZ is within the corporate limits of the City of Georgetown
and within the boundaries of Williamson County, Texas. It is entitled following the land use
category restrictions in the City of Georgetown Unified Development Code, as of October
26, 2021.
Ordinance Number: 2021- Page 22 of 29
Description: Case File Number:
Date Approved: Exhibits Attached
D. Non -Project Costs
The non -project costs include the cost of all development located within the TIRZ boundary
due to the TIRZ project being an off -site public wastewater improvement. Development
within the TIRZ will be privately funded, and no tax increment reimbursement is expected.
Non -project costs represent the expenditures estimated by the Developer necessary to
complete the master plan for the site. Total real property capital investment is projected to
be more than $246,000,000 by year 2026, based the developer's estimate.
Projected
RIP
RP
Sales
Property
Completion
Square
Taxable
Incremental
Incremental
Type
Date
FeetltJnits
Value
Value
SaleslSF
Value
PSFlunit
Industrial
2023
465.000
$ 80
S 37,200,000
S -
S -
Industrial
2025
1.400,000
$ 80
$112,000,000
$ -
$ -
Multifamily
2024
300
$175,000
$ 52,500,000
$ -
$ -
Retail
2023
150.000
$ 300
$ 45.000,000
$ 200
$30.000,000
Tots!
2,015,300
�746,700,40�
$3i1,004,Q00
E. Relocation
No residential relocation will be required as part of the creation or development of the
TI RZ.
Ordinance Number: 2021- Page 23 of 29
Description: Case File Number:
Date Approved: Exhibits _ Attached
III. FINANCING PLAN
A. List of Estimated Project Costs Including Administrative Expenses
A breakout of the estimated costs associated with the construction of the Dry Berry Creak
Interceptor wastewater line is show in the table below. In addition to the project costs, the
City will also collect a one percent administration fee from the TIRZ, estimated at $850,000
over the 15-year term.
PREDESIGN OPINION OF PROBABLE CONSTRUCTION COST ,� Pacheco Koch
Client Name: Jackson Shaw 223 Acres PI( No.: 4670-21.287
Project Title: OHs'rte Sanitary Sewer Interceptor Date: 7,e19/2021
Bid No.
Bid Item Description
Units
EsTimaled
QUanfifv
Unit Cost
Total Cost
SANITARY
SEWER
t
Mobilital:on
LS
1
$ 365.000.00
$ 365,00000
General Site Preparahon
LS
1
$ 50.000.00
S 50.DDO-OD
3
ConstructionEntrances)
SY
167
7500
S 125DO00
2
36' RCP Soml Sewer Jr.* 4.10' Dme)
LF
0
$ 3DO 00
$
3
WRCP Sonlory Sewer Urve 10. 1 S'RMI
LF
525
$ 325.00
S 17Q625.00
4
36'- RCP Son lorvSewes LIrw (I6-20' Dtepl
LF
ZWO
$ 375.00
$ 1,068,750.0D
5 1
36" RCP Sanitary Sewer Line (20-25' DeepJ
LF
2,760
$ 400.00
S 1,104,ODO.00
6
36" RCP 5dnity Sower Llre [26-30 DeepJ
LF
3.750
$ 450-00
$ 1,687,5D0.0D
7
W RCP Sanitary Sewer Line 304 Deep)
LF
2,610
$ 500.00
S 1,305.0DO.OD
8
6' Diameter Manholes IC-1O' DeepJ
EA
0
$ 5.000-00
$
9
6' Diameter Manholes 10-15' Deepl
EA
2
$ MOOD-00
$ 20.00D.OD
10
6' Diameter Manholes 115-20' Deep)
EA
3
$ 12500-00
S 37.5DO-00
11
6' Diameter Manholes 20-25' Deep)
FA
8
$ 15.000.00
$ 120.000-00
12
6'DiameterManholes :25-30'Deeo)
EA
,A
$ 17.500-00
S 52.5D0-OD
13
6'1)iameterManholes 1304Deepl
EA
6
$ 20,000-00
S 120.00000
14
54' Steel Encosemenf
LF
3,050
S 500.00
S 525,000.00
15
36" Bore & Jack Installation Adder 4-1 O' DeepJ
LF
0
$ 1DD.00
$
16
36" Bore & Jack Installation Adder I 10-15" Deep)
LF
200
$ 200,00
$ 40.ODD.DO
17
.36" Bore & lack Installation Adder 115-20 Deep
LF
0
$ 300.00
$
18
36' Brie & Jae klrWallaLonAdder 20-25 Deep]
LF
6D0
S 360.00
$ 210,000.00
19
36' Bore & Jack Installation Adder 25-30 Deep)
LF
150
$ 40D.00
$ 60A00-00
20
36' Bore & Jack Installation Adder 1304 Deep)
LF
110
S M-00
b 49,5D0.DO
21
54" Bore & Jack Imfatlation Adder 4-1O' Deepj
LF
0
$ 150.00
$
22
54" Bore & Jack Installation Adder I10-15 Deep)
LF
200
$ 250.00
S 50.000.00
23
.54" Bore & Jack Insfallation Adder (15-2(Y Deep)
LF
0
$ 350.00
$
24
54 Bore P, Jacl Instaltat.anAdder 20-25 Dee I
LF
6DO
$ 400.O0
S 240DDD-D0
25
54" Bore & Jack Installation Adder (25-30 DeepJ
LF
150
$ 450.00
S 67.5DO 00
26
54 Bore&Jock lnsidWionAddor 30+Deep]
LF
110
$ 500.00
$ 55.OD0.00
27
Connection to Exisfin
EA
1
$ 1600.00
$ 3.6DODO
28
Trench Safety
LF
12.500
S 4-00
$ 50. TO-0
29
Silt Fence
LF
25,000
$ 1.00
$ 25,D00-00
3D
TrvtftControl
LF
4,500
$ 25-00
S 112,500.0D
31
Driveway Replocement
SY
167
S 12D.00
S 20.DDD-00
32
dramulc%
SY
28,000
$ 1-W
S 28,DOO.00
33
Sod
SY
10,000
$ 2.00
S 20.000.00
SD11•EO1A1 CONSTROCTFON COSTS
7,649.�75.p0
30%CONTINGENCY
S 2.300,000.00
TOTAL OPINION OF CONSTRUCTION COSTS
I
S 9.969,475.00
Ordinance Number: 2021-- Page 24 of 29
Description: _ Case File Number:
Date Approved: Exhibits Attached
B. Kind, Number, Location of Public Improvements to be Financed by the TIRZ
The TIRZ will finance one off -site public infrastructure improvement project, named the Dry
Berry Creek Interceptor (DBCI). For the TIRZ to have sanitary sewer service, over 12,000
linear feet of 36" sanitary sewer trunk line will need to be installed. This line will run along
the Dry Berry Creek bed and connect to the Berry Creek Interceptor, a City -managed capital
improvement project. A schematic of the line is in the graphic below.
C. Economic Feasibility Study
A market and economic feasibility study for the North Georgetown TIRZ was produced by
Capital Market Research Group and is attached at Exhibit2.
Ordinance Number: 2021- Page 25 of 29
Description: Case File Number:
Date Approved: Exhibits Attached
D. Estimate of Bonded Indebtedness to be Incurred
It is not anticipated that the City will issue debt to cover the costs of the related off -site
public infrastructure improvements related to this project. The TIRZ/TIF will be
reimbursement based only to the Developer.
E. Time of Incurring Monetary Obligations
The table below illustrates the estimated development schedule of the TIRZ site and the
anticipated added value in years 2023 - 2026. The estimated contribution to the TIRZ fund
each year is also shown. The calculations are based on the current real property tax rate
and include an estimated inflation of 2% per year.
2023
37,200,000
37,200,000
149,172
1_
2024
37,200,000
37,944,000
52,500,000
_90,444,000
362,680
217,608
2
2025
90,444,000
92.252.880
112,000,000
204,2U.W
819.054
491,432
3
2026
204,252,880
208,337,938
45,000,000
253,337,938
1,015,885
609,531
4.
2027
253.337.938
2S8.404.696
258.404.696
LOAM
621,722
5.
2028
258,404.696
263.572,790
263.572.790
1.056.927
634,156
6:
2029
263,572,790
268,844,246
268,844,246
1,078,065
592,v3G
7.
2030
268.844.246
274,221.131
274,221,131
1,099,627
6D4,70-5
8;
2031
274,221,131
279,705,554
279,705,554
11121,619
61ra;891
9'
2032
279.705.554
285,299,665
285,299,665
1,144,052
629,228
l0;
2033
285,299,665
291,005,658
291,005.658
1.166,933
641,F.1:
111
2034
291,005,658
296,825.771
296,825,771
1,190,271
595,13u
12
_
2035
296,825,771
302,762,287
302.762.287
1,214,077
G07,0M
131
2036
302,762.287
308,817,532
308.817.532
1,238.358
u,:-,173
14�
2037
308,817,532
314,993,883
314,993,883
1,263,125
631.553
1512038
314,993_883
_3.21293,761
321,293,761
1,288,388 -�
644194
Total
246,700,000
16,244,437
8,757,2i2
BOSD Abatement
55%Abate[nent
M Abatement
Ordinance Number: 2021- Page 26 of 29
Description: Case File Number:
Date Approved: Exhibits Attached
F. Method of Financing/Sources of Revenue
The City will establish a Tax Increment Fund (the "Fund") for the TIRZ in the ordinance
designating the TIRZ. In accordance with Section 311.013 of the Act, the City will apply into
the fund a portion of the increment generated. The proposed financing plan anticipates the
City will participate in the Zone by contributing a portion of the incremental increase in real
property ad valorem taxes following a 15-year contribution schedule that begins in 2024.
The contribution schedule is 60% of the incremental tax increase in years 1-5, 55% of the
incremental tax increase in years 2-10, and 50% of the incremental increase in years 11-15
with the last year of contribution being 2038. The tax increments deposited into the Fund
will be used to pay for the approved project costs in accordance with the development
agreement approved by the City of Georgetown.
G. Current Appraised Value
The base value, from which the captured appraised value is calculated, is the total assessed
taxable value of all property within the TIRZ on January 1, 2021, as shown in the rolls of the
Williamson County Appraisal District.
R040489
1.92
$209,992
R040508
114.61
$11,786
R040488
102.91
$4,583
R040520
1.00
$45,898
R040496
2.80
$278,527
223.24
$550,786
Ordinance Number: 2021- Page 27 of 29
Description: Case File Number:
Date Approved: Exhibits Attached
H. Captured Appraised Value
It is anticipated the taxable property values will increase approximately 2% every year. An
estimate of the captured appraised value in each year of the projected life of the TIRZ is
shown in the table below.
2023
-
37,200,000
37300,000
149.172
-
2024
37200,000
37,944XQ
52,500,000
90.444,000
362.689
217,608
145,072
2
2025
90A44,000
92,252.880
112.000.000
204,252.880
819,054
491,452
377,622
3
2026
204,252,880
208,337,938
45.000,000
IS3.337.938
1,015.885
609.531
406.354
4
2027
253,337.938
24404,b$6
258.404.696
1,036,203
621,722
414,481
5
2028
258,409.6%
263,571.7430
263.572.790
1,056,927
634,1%
422,771
6
20a
263.57090
266,844,246
24844,246
1,078.065
592,936
485,129
7
2030
266.844.246
274,221.131
274.221,131
1.099.627
&IM,775
494.832
8
2031
274,22 AU
279,705,554
279,705,554
1.122.619
6ib,_8}
504,729
9
2032
279,705.554
2851299.665
_ _
265,298,665
1,144,02
643,228
514,823
10
2031
285,299,66E
29L0051658
291.005.658
1.166M3
641,h13
525,120
11
2034
291,O05.658
295,825,771
296.825,771
1,290.271
4?5•l'-6
595,136
12
2035
296,825.771
302,76L287
302,762,287
1.214,077
[-i.`,ll.l?
607.038
13
2036
302,762.287
M817,532
308.817432
12581358
U19,174
619,179
14
2037
308.81.7.532
314,9931883
114,991433
1,263,125
631,`_6=
631,563
1E
2039
314,993,f883
321l293761
321,293,761
1,288,388
U,41ta
644`194
'ToSsl
246,700,000
16,244,437
917571.222
7,815,043
60% Ab aee m en e
SS94 Aba3nment
50%Abasemi nl
I. Duration of the TIRZ
The North Georgetown TIRZ is a 15-year TIRZ beginning January 1, 2024 and expiring
December 31, 2038, unless sooner terminated as may be allowed by law.
Ordinance Number: 2021- Page 28 of 29
Description: Case File Number:
Date Approved: Exhibits Attached
IV. BOARD OF DIRECTORS OF THE TIRZ
The City Council will appoint the five -member board of Directors for the TIRZ to include:
a Mayor
■ Councilmember District 5
• City Manager
Assistant City Manager - Finance & Community Services
• Economic Development Director
City staff will prepare (i) an Annual TIRZ Budget; (ii) an Annual Report of TIRZ activities; and
(iii) an Annual Financial Statement prepared in accordance with Generally Accepted
Accounting Principles for presentation to the City Council.
V. LIST OF EXHIBITS
Exhibit 1 - Metes and Bounds of TIRZ
a Exhibit 2 - Economic Feasibility Study
Ordinance Number: 2021- Page 29 of 29
Description: Case File Number:
Date Approved: Exhibits Attached