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HomeMy WebLinkAbout2002-04-23-0900AM-RegularFILED BRAZOS COUNTY BRYAN. TEXAS 1U81 APR 19 A $ 10 ~Kn~r~ ~:GL'cE-v.CQI:P{TYCLERK BRAZOS CO; Ty BRYAN.TEXAS BY: DUTY NOTICE OF MEETING AND AGENDA BRAZOS COUNTY COMMISSIONERS COURT THE COMMISSIONERS COURT WILL MEET IN REGULAR SESSION ON TUESDAY, APRIL 23, 2002 AT 9:00 A.M. IN THE COMMISSIONERS COURTROOM OF THE BRAZOS COUNTY COURTHOUSE, 300 EAST 26TH STREET, SUITE 115, BRYAN, TEXAS. 1. Invocation and Pledge of Allegiance - Judge Jones. 2. Call for citizen input and/or concerns. Consider and take action on agenda items 3 -17: 3. Approval and presentation of Proclamation regarding "National Relay for Life." 4. Budget Amendment 01/02-21. 5. Payment of Claims. 6. Personnel Changes of Status. 7. Tax Increment Finance Reinvestment Zone No. 15 Agreement with the City of College Station. 8. First Amendment to Agreement for Development and Tax Abatement in Reinvestment Zone No. 12 for Commercial Tax Abatement with Betco, Inc. 9. Second Amended and Restated Agreement for Development and Tax Abatement in Reinvestment Zone No. 12 with Betco, Inc. 10. Tax Exemption Request from the Cedar Creek Lodge No. 300. • Commissioners Court Meeting Agenda April 23, 2002 Page Two 11. Request by the Judge, 272nd District Court, for payment of six months of Lexis- Nexis invoices for legal research. 12. Request by the Judge, County Court at Law No. 1, to reclassify "Personnel - Temporary" funds to be "Overtime" funds. 13. Resolution regarding a high-speed rail corridor to serve the Brazos Valley. 14. Resolution regarding Trans Texas Corridor Plan. 4015. Authorization for a Recurring Payment Request for the Bryan-College Station Economic Development Corporation. 16. Blanket Purchase Orders. 17. Authorization for the Purchasing Department to advertise for the following: a. Bid #2002-050 Uniform Rental, Annual Bid b. Bid #2002-051 Temporary Employment Services, Annual Bid 18. Presentation of the Quarterly Delinquent Property Tax Collection Activity Report. 19. Announcement of interest items and possible future agenda topics. 20. Call for citizen input and/or concerns. 21. Convene into Executive Session pursuant to §551.071 of the Texas Government Code to discuss privileged mattes with legal counsel regarding acquisition of real estate. • 22. Consider and take action on Executive Session. 23. Adjourn. The Courthouse is wheelchair accessible. Handicap parking spaces are available. Any request for sign interpretive services must be made two business days before the meeting. To make arrangements, call (979) 3614102. q7 COMMISSIONERS' COURT REGULAR MEETING APRIL 23, 2002 A regular meeting of the Commissioners' Court of Brazos County, Texas was held in the Commissioners' Courtroom in the Courthouse in Bryan, Brazos County, Texas, beginning at 9:00 a.m. on Tuesday, April 23, 2002, with the following members of the Court present: Alvin W. Jones, County Judge, Presiding; Tony Jones, Commissioner of Precinct 1; Wm. S . Thornton, Commissioner of Precinct 2; C. B. Jones, Commissioner of Precinct 3; Carey Cauley, Jr., Commissioner of Precinct 4; Karen McQueen, County Clerk. The attached sheet contains the names of the citizens and officials that were in attendance. The County Judge gave the invocation and led the pledge of allegiance. Under citizen input/and or concerns, Demetrios Basdekas read aloud Section 255.003 of the Election Code relating to the use of public funds. He also addressed the impending budget process and asked that special attention be given to the Sheriff's Office, Road & Bridge Department and the Emergency Response Team. He stressed the importance of setting priorities and informing the citizens of them. He next addressed a letter where the County Judge stated that the Exposition Center was his number one priority. Vol 31 Page l q 8 Commissioners' Court meeting April 23, 2002 2 The County Judge read aloud a Proclamation designating April 2002 as "Relay for Life Month". The Court joins with the local Cancer Society co campaign to save lives, create awareness and continue the fight against cancer. On motion by Commissioner Tony Jones, seconded by the County Judge and Commissioners Thornton, C. B. Jones and Cauley the Court moved to proclaim the month of April 2002 as "Relay for Life Month" • throughout Brazos County. The County Judge then presented the signed Proclamation to Ms. Marcy Hoskins, representing the local American Cancer Society. The Court next considered Budget Amendment #01/02-21.1, which would transfer funds to the Treasurer's Office from Contingency. On motion by Commissioner Cauley, seconded by Commissioner Tony Jones, the Court voted unanimously to approve the budget amendment as submitted, a copy of which is attached hereto. The Court next considered the following Claims as submitted by the County Treasurer for payment: • 20029836 through 20030081 On motion by Commissioner Tony Jones, seconded by Commissioner Thornton, the Court voted unanimously to approve the Claims as submitted. Vol al Page t l -l 0 Commissioners' Court meeting April 23, 2002 3 The Court proceeded to consider the change of status of employees as submitted on the attached Personnel Action Requests. On motion by Commissioner Tony Jones, seconded by Commissioner Thornton, the Court voted unanimously to approve the changes as submitted. The Court next considered approval of the Tax Increment Finance reinvestment Zone No. 15 Agreement with the City of College Station. This is necessary to spur economic growth in the Highway 30/60 corridor area and to construct a conference center and related improvements to be owned by the City. Commissioner Cauley asked if a booking policy could be made a part of the Agreement. Kim Foutz, representative of the City of College Station, outlined some of the minor changes that had were made yesterday during a meeting. On motion by Commissioner Tony Jones, seconded by Commissioner Thornton, the Court voted unanimously to approve the Increment Finance reinvestment Zone No. 15 Agreement. The County Judge stated that the vote was based on what had been said, but if the final document is received and there is something there that the Court does not agree with, then changes will be made. A copy is attached. The next matter for consideration was approval of the First Amendment to Agreement for Development and Tax Abatement Vol Page -,-o 0 • Commissioners' Court meeting April 23, 2002 4 in Reinvestment Zone No. 12 for Commercial Tax Abatement with Betco, Inc. Betco, Inc. failed to achieve 100% compliance with its payroll requirements having only achieved 57.20 compliance. This is a default pursuant to the Agreement. Therefore, on motion by Commissioner Tony Jones, seconded by Commissioner Cauley, the Court voted unanimously to grant a partial tax abatement for the 2001 tax year only and will require Betco, Inc. to repay rebated taxes in an amount equal to 42.8% x the total taxes abated. The Court next considered a Second Amended and Restated Agreement for Development and Tax Abatement in Reinvestment Zone No. 12 with Betco, Inc. This Agreement amends, restates, and supercedes a previous Agreement dated December 14, 1999. On motion by Commissioner Cauley, seconded by Commissioner Thornton, the Court voted unanimously to approve the Second Amended and Restated Agreement for Development and Tax Abatement in Reinvestment Zone No. 12. A copy is attached. The Court next considered a Tax Exemption Request from the Cedar Creek Lodge No. 300. On motion by Commissioner Cauley, seconded by Commissioner Tony Jones, the Court voted unanimously to approve the Tax Exemption Request. Vol 31 Page X01 r~ Commissioners' Court meeting April 23, 2002 5 The next matter for consideration was a request by the Judge, 272nd District Court for payment of six months of Lexis- Nexis invoices for legal research. On motion by the County Judge, seconded by Commissioner Tony Jones, the Court voted unanimously to authorize payment of the invoices for the current fiscal year only. One billing from September was not approved. Future billings will not be accepted because this service is available through the County. The Court next considered a request by the Judge, County Court at Law I, to reclassify "Personnel-Temporary" funds to "Overtime" funds. On motion by Commissioner Cauley, seconded by Commissioner Thornton, the Court voted unanimously to approve the request. On motion by the County Judge, seconded by Commissioners Cauley and Thornton, the Court voted unanimously to adopt Resolution No. 2002-007 in support of the concept to have a high speed rail service to connect the Brazos Valley region to the major metropolitan areas in the State of Texas. On motion by the County Judge, seconded by Commissioner Cauley, the Court voted unanimously to adopt Resolution No. 2002-008 in support of the concept for the development and construction of the Trans Texas Corridor. Vol a/ Page go p_ • Commissioners' Court meeting April 23, 2002 6 The Court next considered authorizing the Auditor's office to process recurring payment request for the following: a) Economic Development Corporation for economic development $20,579.33 per month for May through September 2002. On motion by Commissioner Cauley, seconded by Commissioner Thornton, the Court voted unanimously to authorize the Auditor's office to process the previously noted recurring is payment. The Court proceeded to consider the following blanket Purchase Orders: NAPA Ray Criswell Team Systems Lilly Dairy Butterkrust Glazier Cain's Coffee Ben E. Keith Performance Sysco Food Service Alliant Food Scarmardo Produce Road & Bridge $3,000 Jail $ 900 Jail $ 900 Jail $2,800 Jail $1,600 Jail $1,000 Jail $ 600 Jail $1,250 Jail $8,000 Jail $6,200 Jail $6,200 Jail $2,150 On motion by Commissioner Cauley, seconded by Commissioner • Thornton, the Court voted unanimously to approve the Blanket Purchase Orders as submitted. The next matter for consideration was approval for the Purchasing Agent to advertise the following bids: 1. Bid 2002-050, Uniform Rental 2. Bid 2002-051, Temporary Employment Services Vol 31 Page X03 0 Commissioners' Court meeting April 23, 2002 7 On motion by Commissioner Tony Jones, seconded by Commissioner Thornton, the Court voted unanimously to authorize the Purchasing Agent to advertise for the previously noted bids. The Court next heard a presentation by Shelly Veselka, representative of McCreary, Veselka, Bragg & Allen, on delinquent tax collection. Under announcement of interest items and possible future agenda topics the County Judge made the following comments: a) The County Judge welcomed the mother of Commissioner Tony Jones to the Commissioners Court meeting. b) The County received a check in the amount of $33,252.00 that is its portion of the tobacco settlement funds. c) He prepared a time line for the budget process and it will be forwarded to the department heads. d) The County Auditor has prepared the debt service requirements through 2002. e) He was asked the status of the Greens Prairie Road Extension. Commissioner Tony Jones stated the road will be open in approximately two (2) weeks. The County Judge said that he would like to have a ribbon cutting ceremony to mark the occasion. Vol 31 Page x 0 4- • Commissioners' Court meeting April 23, 2002 f) He received a call from State Senator Steve Ogden's office relating to the State Highway 6 South expansion. TxDOT has temporarily stopped right-of-way acquisition. Senator Ogden asked the County to pay its 10% share of the right- of-way acquisition cost so that the project could continue. The County Judge said that it would be on the next Commissioners Court agenda. There was no citizen input and/or concerns. 8 At 10:12 a.m. the County Judge announced the meeting closed to • the public so that the Court could meet in Closed Executive Session to discuss the acquisition of real estate as allowed under Section 551.071 of the Texas Government Code. At 10:16 a.m. the County Judge announced the meeting open to the public and that no action would be taken. There being no further business to come before the Court, the meeting was adjourned. • Vol a/ Page ,-I-05 0 The foregoing minutes of the Commissioners Court meeting held April 23, 2002 have been examined and are approved in open Court this the ~ - day of 2002, in Bryan, Brazos County, Texas. Alvin W. Jone County Judge m. S. Thornton Commissioner, Precinct 2 IIAI ar y CaAl ley, Jr. Commiss oner, Precinct 4 To J A Commissioner, Precinct 1 C. B. Jon Commissio r, Precinct 3 aren McQueen County Clerk ao( 0 Vol 131 Page C • • • k ~Q BRAZOS COUNTY COMMISSIONERS COURT MEETING ON-4a&Z .;73 200 A AT Lov NAME ORGANIZATION/DEPARTMENT ►-c u S . CJ , - D'e- 14 - (ow e oin Z valkls l b y K.fr 4u Nil L S ('T\l~lG~ -~L ~ "ZA- 1 AV, A U~ 1 14, L Co l~ EI-r~n I~, I f~rr ~ l 1 Y~1 ~a /LD A`:. n n 0 BRAZOS COUNTY COMMISSIONERS COURT ~h~ MEETING ON 200 AT 9ca~c A C/ ~Cr A Awl ,11W s 9- BRAZOS COUNTY, TEXAS BUDGET AMENDMENT(S) FOR THE 2001-2002 BUDGET YEAR NO. 01/02-21.1 On this the 23RD day of April 2002 at a regular meeting of the Commissioners' Court, the following members were present: Alvin W. Jones, County Judge, Presiding Tony Jones, Commissioner, Precinct l; Wm. S. Thornton, Commissioner, Precinct 2; C. B. Jones, Commissioner, Precinct 3; Carey Cauley, Jr., Commissioner, Precinct 4; Karen McQueen, County Clerk. • The following proceedings were held: THAT WHEREAS, on April 23, 2002 the Court heard and approved a budget amendment for the 2001-2002 budget year for Brazos County, Texas. WHEREAS, an expenditure is necessary due to the necessity to meet unusual and unforeseen conditions which could not be reasonably included in the original budget adopted September 4, 2001 the following amendment(s) to the original are hereby authorized, as described on the attached page(s). ADOPTED AND APPROVED this the 23RD day of April 2002. THE COMMISSIONERS' COURT OF BRAZOS COUNTY, TEXAS. • By: ao' Alvin W. Jones, County Judge Original: County Clerk's office and attached to the original budget Copies: County Auditor County Treasurer Commissioners' Court Minutes L'-m goo 0 BRAZOS COUNTY, TEXAS BUDGET AMENDMENTS No. 01/02 - 21.1 4/23/2002 FD DIV ACCT PROJ DR/CR ACCOUNT NAME Increase Decrease 01 120001 532000 Dr. Retirement $ 1,424.00 01 110015 611300 Cr. Contingency I P424.00 Brazos County Treasurer To increase the budget to allow the a ment to TCDRS for Ruth Sweeney as approved b the Commissioners Court 4/16/02. :vrk^ it .Sy 4 Yp`~"da;ik iG,'jsi y +,tjy'7t~ '•~~.jr - 7 ~v~~e"`f~~„v f J ^ gc .w • PERSONNEL CHANGE OF STATUS page 1 of 1 • r COURT DATE: April 23, 2002 DEPARTMENT: Personnel PURPOSE: Approve Personnel Change of Status DEPARTMENT NAME EMPLOYEE NAME ACTION REQUESTED JUVENILE SERVICES SHERIFF'S OFFICE - JAIL TAX OFFICE KERB, AMANDA R. NEW HIRE-TEMPORARY RAMIREZ, TOMMY "BRANDON" NEW HIRE-TEMPORARY WEBB, CURTIS PROMOTION-PART-TRvIE REGULAR DOOLITTLE, LESLIE S. CHAMBERS, CARL D. SPEIKES, JO C. ALONZO, PAULINE RESIGNATION TRANSFER WITHIN DEPARTMENT RESIGNATION NEW HIRE-FULL-TIME HEREDIA, ISAAC S. TOLIVER, LINDA J. ARRENDONDO, APRIL HINES, ANGELA B. RESIGNATION PROMOTION NEW HIRE-FULL -TINM NEW HIRE-PART-TIME Approved in Commissioners' Court: Anri123, 2002 County Judge's or Commissioner's Signature: (This copy to be attached to minutes) 10, ( 2 l I _ 0 AGREEMENT This Agreement is between the City of College Statioq Texas, a home-rule city created under the laws of the State of Texas (hereinafter "the City") and Brazos County, Texas, a county existing under the laws of the State of Texas (hereinafter "the County"). ARTICLE I The City has created Tax Increment Finance Reinvestment Zone No. 15 (hereinafter "the TIRE") to spur economic growth in the Highway 30/60 Corridor area and to construct a conference center and related improvements to be owned by the City. Reinvestment Zone No. 15 was established by Ordinance No. 2550 attached and incorporated hereto as Exhibit "A". ARTICLE II As used in this Agreement, the following terms shall have the meanings set out below: "Agreement" means this agreement between the City and the County. "Brazos County" is defines ih the preamble of this Agreement and includes its successors and assigns. `Brazos County Ad Valorem Tax Rate" means the then current ad valorem tax rate of Brazos County, Texas. "Brazos County Tax Increment Participation" means the amount of the Brazos County ad valorem tax levy on the Captured Appraised Value, which Brazos County agrees to contribute to the College Station Reinvestment Zone No. 15 pursuant to Article III of this Agreement. "Captured Appraised Value" means the captured appraised value of the College Station Reinvestment Zone No. 15, as defined by Chapter 311, Texas Tax Code. "Efty" is defined in the preamble of this Agreement and includes its successors and assigns. "City's Tax Increment Participation" shall mean an amount equal to one hundred percent (100%) of the ad valorem taxes collected by the City each year during the duration of College Station Reinvestment Zone No. 15 on the Captured Appraised Value of real property within the College Station Reinvestment Zone No. 15. "College Station Reinvestment Zone No. 15" means the College Station Tax Increment Finance Reinvestment Zone No. 15, City of College Station, Texas, created by the City over the College Station Reinvestment Zone No. 15 area. "College Station Tax Increment Finance Reinvestment Zone No. 15 Area" shall mean the area of the City to be included in College Station Reinvestment Zone No. 15, being described in Exhibit "B" attached hereto and incorporated herein for all purposes. "Plan" means the final project plan and final reinvestment zone finance plan for the College Station Reinvestment Zone No. 15 which shall be adopted by the board of directors of the College Station Reinvestment Zone No. 15 and approved by the City Council of the City. 02-3017 TIFAgroementMna1 4-23-0Zdoc oa -/a Page 1 of 5 • "Tax Increment Fund" means the tax increment fund created by the City in the City Treasury for the College Station Reinvestment Zone No. 15. Terms used herein and not otherwise defined shall have the meanings ascribed to them in Chapter 311, Texas Tax Code. ARTICLE III The County, pursuant to Texas Tax Code §311.01 et seq., may participate in and contribute a portion of its tax rate to Reinvestment Zone No. 15. The County hereby agrees to participate in Reinvestment Zone No. 15, by contributing one hundred percent (100%) of the ad valorem taxes collected by the County each year during the term of this Agreement on the Captured Appraised Value of real property within the TIRZ, less that portion of the ad valorem taxes pledged directly to debt service. Currently the tax rate upon which the County's participation would be determined is forty-two cents ($0.42) per one hundred and no/100 dollars \ ($100.00) valuation, less its debt service of three and 43/100 cents (3.43) for a current • participation rate of thirty-eight and 57/100 cents (38.57) per one hundred and no/100 dollars ($100.00) valuation. However, both the County and the City agree that the tax rate and the portion of the tax rate pledged directly to debt service are subject to change and the contribution herein pledged by the County to the Fund shall change as both its tax rate and tax rate pledged to debt service changes. Brazos County's Tax Increment Participation and obligation to participate in the College Station Tax Increment Finance Reinvestment Zone No. 15 shall be restricted to its tax increment collected on the Captured Appraised Value in the College Station Reinvestment Zone No. 15. Brazos County shall not be obligated to pay its Brazos County Tax Increment Participation from other Brazos County taxes or revenues or until the Brazos County Tax Increment Participation in the College Station Reinvestment Zone No. 15 is actually collected. The obligation to pay the Brazos County Tax Increment Participation shall commence as taxes representing the Brazos County tax increment are collected by Brazos County and payment shall be due thirty (30) days after collection. The first payment of increment taxes by Brazos County under this Agreement shall be for those taxes as levied by Brazos County in the year 2003 and, subject to Article IV (f), the last payment by Brazos County under this Agreement is for those taxes levied by Brazos County in the year 2017. ARTICLE IV The contribution of the County referenced in Article II is subject to the following conditions: (a) The City shall pledge one hundred percent (100%) of its hotel/motel tax generated by the hotel property connected to the conference center located in the TIRZ to the Fund. The City further agrees to pledge 100°/a of the ad valorem taxes collected by the City each year during the duration of TIRZ on the Captured Appraised Value of real property in the TIRZ. The City agrees to pledge resources adequate to pay annual debt service for any bonds (C.O.) and urterfund loan issued with respect to this Agreement. If the City fails to fulfill this condition, the County's obligation to contribute to the Fund shall terminate immediately. 02_3017 TIFAgnemenLMnal *-23-02.doe Page 2 of 5 0 (b) The purpose for Reinvestment Zone No. 15 is to fund the construction and to equip a city-owned 60,000 sq.ft. conference center and an additional 24,000 sq. foot shared space housing necessary appurtenants to the conference center. The conference center will be constructed adjacent to a full-service hotel and an office building. This development is intended to facilitate growth of the local economy. The County's obligation to contribute to the Tax Increment Fund shall terminate immediately upon the occurrence of the following: (i) purpose of Reinvestment Zone No. 15, as stated in the Plan, changes; (ii) additions or changes are made in the Plan; (iii) the College Station Tax Increment Finance Reinvestment Zone No. 15 Area changes, or C'iv) the Conference Center Booldng Policy, attached hereto as Exhibit "C", is amended, without the prior written consent of the County. The preliminary Project Plan is attached in Exhibit "D" and incorporated herein. When the final Plan is completed and approved by the College Station City Council, it will be incorporated and attached hereto as Exhibit "E". (c) The City shall not request that the County participate in any additional tax increment finance reinvestment zones in either the 30/60 Corridor or its surrounding area during the term of the T1RZ. (d) The City shall not request the County in the future to consider the granting of tax abatement to any property owner or tenant within the TIRZ. (e) Notwithstanding anything herein or in the Plan to the contrary, the County's contribution to the Fund shall not be used to pay any "Project Costs" as that term is defined in TBE TEXAS TAX CODE §311.002, except the cost of repaying the bond(s) previously issued and to be issued in connection with the TIRZ and all interest accruing thereon and interfund loan costs in the amount of $1,100,000.00. The County shall be entitled to reimbursement for its actual costs associated with the creation of College Station Reinvestment Zone No. 15, in accordance with the Plan. (f) The County's obligation to participate in Reinvestment Zone No. 15 shall terminate on the earlier to occur of (i) December 31, 2017, or (ii) on the date all bonds and interest accruing thereon have been paid in full. Notwithstanding the foregoing, the County shall contribute the taxes levied and collected for the TIRZ for the tax years 2003 through 2017 unless all bonds and interest accruing thereon have been paid in full as provided above. In the event that one or more of the above described conditions is not fulfilled by the City, the County's obligation to contribute to the Fund shall terminate immediately. ARTICLE V No waiver or deferral by either party of any term or condition of this Agreement shall be deemed or construed to be a waiver or deferral of any other term or condition or subsequent waiver or deferral of the same term or condition. l I @ I 02-30I7TIF'ortFtnal *-2S-02doc Page 3 of 5 ARTICLE VI This Agreement may only be amended by written instrument approved and executed by the parties. ARTICLE VII This Agreement and the rights and obligations contained herein may not be assigned by the assigning party without the prior written approval of the non-assigning party. ARTICLE VIII Any terms or provisions of this Agreement which shall prove to be invalid, void or illegal shall in no way effect, impair or invalidate any other term or provision herein and such remaining terms and provisions shall remain in full force and effect. ARTICLE IX The parties hereby state that they have read the terms of this Agreement and hereby agree to the conditions contained herein. ARTICLE X This Agreement merges the prior negotiations and understandings of the parties hereto and embodies the entire agreement of the parties, and there are no other agreements, assurances, conditions, covenants (express or implied) or other terms with respect to the covenants, whether written or verbal, antecedent or contemporaneous, with the execution hereof. ARTICLE XI All notices required or permitted hereunder shall be in writing and shall be deemed delivered when actually received or, if earlier, on the third (P) day followmi deposit in a United States Postal Service post office or receptacle with proper postage affixed certified mail, return receipt requested) addressed to the respective other party at the address prescribed below, or at such other address as the receiving party may have theretofore prescribed by notice to the sending party. The initial address of the parties, which one party may change by giving written notice of its changed address to the other party, are as follows: Eb Brazos County Thomas E. Bryner Judge Al Jones City Manager Brazos County Judge City of College Station Brazos County Courthouse 1101 Texas Avenue 300 E. 26's Street College Station, TX 77840 Bryan, TX 77803 31 02-301777FAgmemenLNlRd4-25-Oldw r„G+~tz~. Page 4 of 5 u ARTICLE X11 No party hereto waives or relinquishes any immunity or defense on behalf of itself, its trustees, officers, employees, and agents as a result of its execution of this Agreement and performance of the covenants contained herein. ARTICLE XIII Brazos County hereby acknowledges and represents that it waived the notice requirements with respect to the March 14, 2002 public hearing held by the City in accordance with the provision of Section 311.003(e) of the Texas Tax Code. BRAZOS COUNTY By: 5~ 3 02 Alvin es, County Ju a Date ATTEST: By: e-n -Cr .23 of Karen d uee un IT ate pune v~1l . d~ y ~5 CITY OF COLLEGE STATION By: Lynn cllhaney, Mayor Date ATTEST: By: D Z e Hooks, City Secretary Dap APPROVED: Thomas E. rymer ity Manager Date -a9-o7- Harvey Car. ' r. City o Date y 1f'- vz~ Charles Cryan, or of Fiscal Services Date 02-3017TIFAgmmaitFUml4-25.02.doc + ,-ter _ w' ~ Page 5 of 5 u ORDINANCE NO. 2550 AN ORDINANCE DESIGNATING THE HIGHWAY 30/60 CORRIDOR IN COLLEGE STATION, TEXAS, AS REINVESTMENT ZONE NO. 15, CITY OF COLLEGE STATION, TEXAS, ENUMERATING THE QUALIFYING CRITERIA, ADOPTING A PRELIMINARY DEVELOPMENT AND FINANCING PLAN, ESTABLISHING A BOARD OF DIRECTORS FOR SUCH ZONE, AND OTHER MATTERS RELATING THERETO; PROVIDING FOR A SEVERABIL.ITY CLAUSE AND AN OPEN MEETINGS CLAUSE. WHEREAS, on November 4, 1997, the voters of the City of College Station passed a referendum authorizing the City of College Station to proceed with the construction of a conference center, WHEREAS, on January 24, 2002, the College Station City Council directed staff to meet with designated representatives from Brazos County and the Bryan Independent School District and this meeting took place to discuss the implementation of Reinvestment Zone No. 15; • WHEREAS, on January 25, 2002 the City of College Station sent notice to the governing bodies of the Brazos County taxing unit and of the Bryan Independent School District of its intent to consider the implementation of a tax increment financing district and a reinvestment zone in the area of the Highway 30/60 Corridor; and requested that the sixty (60) days notice requirement be waived; WHEREAS, on February 19, 2002 the County Commissioners approved the request to waive the sixty (60) days notice requirement; WHEREAS, on February 11, 2002 the Bryan Independent School District Board of Trustees approved the request to waive the sixty (60) days notice requirement; WHEREAS, on March 1, 2002, representatives of the City of College Station met with designated representatives from Brazos County and the Bryan Independent School District and this meeting took place to discuss the implementation of Reinvestment Zone No. 15; WHEREAS, on February 19, 2002, City staff made a formal presentation to the Brazos County Commissioners Court and on February 11, 2002 City staff made a formal presentation to the Bryan Independent School District concerning the reinvestment zone. The presentation included a description of the proposed boundaries of the zone, the tentative plans for the development or redevelopment of the zone, and an estimate of the general impact of the proposed zone on property values and tax revenues; • WHEREAS, on March 5, 2002, notice of a public hearing to be held on March 14, 2002 was published in the Bryan-College Station Eagle, a copy of the notice is attached hereto as Exhibit "A"; WHEREAS, a public hearing was held before the College Station City Council on the 14th day of March, 2002, at 7:00 p.m. at the regular meeting of the Council; WHEREAS, upon such public hearing being convened, there was presented proof and evidence that notice of such hearing had been published and had been mailed as described above; WHEREAS, the City Council at such hearing invited any interested person to appear and contend for or against the creation of the reinvestment zone, the boundaries of the proposed reinvestment zone, whether all or part of the territory, which is described by boundary survey attached hereto as Exhibit 0 "B" and depicted in the diagram attached hereto as Exhibit "C", should be included in such proposed reinvestment zone, the concept of tax increment financing; WHEREAS, all owners of property located within the proposed reinvestment zone and all other taxing units and other interested persons were given the opportunity at such public hearing to protest the creation of the proposed reinvestment zone or the inclusion of their property in such reinvestment zone; WHEREAS, the City staff presented the preliminary financing and development plans for the proposed reinvestment zone attached hereto as Exhibit "D"; and WHEREAS, the proponents of the reinvestment zone offered evidence, both oral and documentary, in favor of the foregoing matters relating to the creation of the reinvestment zone; NOW, THEREFORE, BE IT ORDAINED by the City Council of the City of College Station, Texas, that: The facts and recitations contained in the preamble of this ordinance are hereby found and declared to be true and correct. II. The City, after conducting such hearing and having heard such evidence and testimony and considering the preliminary project and financing plan, has made the following findings and determination based upon the evidence and testimony presented to it: A. That the public hearing on adoption of the reinvestment zone has been properly called, held and conducted, and that notice of such hearing has been published as required by law and mailed to all taxing units overlapping the territory inside the proposed reinvestment zone. B. That the City has jurisdiction to hold and conduct this public hearing on the creation of the proposed reinvestment zone pursuant to the TAX INCREMEATP FINANCING ACT. C. That creation of the proposed zone with boundaries as described in Exhibits "B" and "C" will result in benefits to the City, its residents and property owners, and to the property, residents and property owners in the reinvestment zone. D. That the reinvestment zone as described in Exhibit "B" and "C" meets the criteria for the creation of a reinvestment zone as set forth in the TAX INCREMENT FINANCING ACT (SECTION 311.005 TExAS TAX CGDE [VERNON 1992 AND VERNON Supp. 2002]) in that: (1) It is a contiguous geographic area located wholly within the corporate limits of the City. (2) That the area is predominantly open, underproductive and underdeveloped and substantially impairs or arrests the sound growth of the municipality. (3) That development of the area would not occur in the foreseeable future solely through private investment. (4) The total appraised value of all taxable real property in the zone according to the most recent appraisal rolls of the City, together with the total appraised value of the taxable -1 y. 3 gip;- ,,-n - J- (6 • real property and all other taxing existing reinvestment zones within the City, according to the most recent appraisal rolls of the City, does not exceed fifteen percent (15%) of the current total appraised value of the taxable real property in the City. (5) Improvements in the reinvestment zone will enhance significantly the value of all taxable real property in the reinvestment zone. (6) That a preliminary project plan and a financing plan have been developed and are attached hereto as Exhibit "D". Such preliminary project and financing plans will be the basis for the master plan for the final financing and development plans for the reinvestment zone and shall assist the staff and board of directors in implementing a successful reinvestment zone. (7) On January 14, 2002 TAC Realty Inc. and College Main Apartments Ltd. petitioned the City Council of College Station that the area described in Exhibits "B" and "C" be designated as a reinvestment zone. A copy of the petition is attached hereto as Exhibit • "E" and incorporated herein for all purposes. TAC Realty Inc. and College Main Apartments Ltd. are the property owners of more than fifty percent (50%) of the appraised value of the property in the proposed reinvestment zone. Therefore, Reinvestment Zone No. 15 is hereby established by owner petition pursuant to SECTION 311.005 (A) (5) OF THE TAX INCREMENT FINANCING ACT. (8) That the following Council Members were present and considered the ordinance on March 14, 2002. Lynn McIlhaney Ron Silvia Larry Marion Dennis Maloney Anne Hazen Winnie Garner (abstaining) • That the City hereby creates a reinvestment zone over the area described by the boundary survey in Exhibit "B" attached hereto and such reinvestment zone shall be based on the preliminary project and financing plans. This zone shall hereafter be identified as Reinvestment Zone No. 15, City of College Station, Texas (the "Zone"). IV. The Board of Directors for the Zone shall consist of nine (9) member directors. The City Council of the City of College Station shall appoint six (6) members who shall meet the eligibility requirements as set forth in the Act to serve on the Board of Directors. The Brazos County Commissioners Court shall appoint one (1) member who shall meet the eligibility requirements as set forth in the Act to serve as a member of the Board of Directors. The member of the state Senate in whose district the zone is located or his designee is also a member of the board. The member of the state House of representatives in whose district the zone is located or his designee is also a member of the board. The Brazos County Commissioners Court member, the member of the state senate or his designee, the member of the state house of representatives or his designee, and three (3) members appointed by the City of College Station, shall serve an initial two (2) year term while the other three (3) appointed by the City of College 0 Station shall serve initial one (1) year terms. All subsequent appointments will be made for two (2) staggered terms or until a successor director may be appointed thereafter. The City Council shall designate one (1) member to serve as Chairman of the Board of Directors for the year ending December 31, 2003, and each year thereafter, and authorizes the Board to elect from its members a Vice-Chairman and other officers as it sees fit. The Board shall retain all powers provided it in the Act. The Board of Directors shall make recommendations to the City Council concerning the administration of the Zone and shall prepare and cause to be prepared and adopt a Project Plan based upon the preliminary Financing and Development Plans for the Zone and must submit such plans to the City Council for its approval. The City hereby delegates to the Board of Directors all powers necessary to prepare and implement such Project Plan, subject to approval by the City Council, including the power to direct the staff and employ consultants to assist in the preparation of the Project Plan and in the issuance of tax increment obligations. V. That operation of the Zone shall commence immediately following the passage of this ordinance, and " that termination of the operation of the Zone shall occur on December 31, 2022, or at a time designated by subsequent ordinance or at such time subsequent to the issuance of tax increment bonds as all project costs and tax increment bonds, and the interest thereon, have been paid in full. VI. That the tax increment base for the Zone is the total appraised value of all taxable real property in the reinvestment zone as of January 1, 2002. VII. That there is hereby created and established a Tax Increment Fund for the Zone which may be divided into such sub-accounts as may be authorized by subsequent ordinances into which all tax increments are to be deposited. 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 Texas cities. The tax increments shall equal the amount of property taxes levied for a year on the captured and appraised value, that is, the amount by which the current appraised value of all taxable real property located in the Zone exceeds its tax increment base less any other funds which are to be allocated from the tax increments pursuant to the Act. All revenues from the sale of any tax increment finance bonds and notes hereafter issued by the City may be deposited into such fund or sub-account from which money will be disbursed to pay project costs for the Zone or to satisfy the claims of holders of tax increment bonds or notes issued for the Zone. • VM. That if any section, paragraph, clause, or provision of this ordinance shall for any reason be held to be invalid or unenforceable, the invalidity or unenforceability of such section, paragraph, clause or provision shall not affect any of the remaining provisions of this ordinance. DC. 'That it is hereby found, determined and declared that a sufficient written notice of the date, hour, place and subject of the meeting of the City Council of the City of College Station at which this ordinance was adopted was posted at a place convenient and readily accessible at all times to the general public at the City Hall of the City of College Station for the time required by law preceding this meeting, as required by the Open Meetings Act, and that this meeting has been open to the public as required by law, at all times during which this ordinance and the subject matter hereon has been presented, discussed, considered and finally acted upon. The City Council of the City of College Station further' ratifies, approves and confirms such written notice and the contents and posting thereof. • x That the contents of the notice of public hearing, which hearing was held before the City Council of the City of College Station on March 14, 2002, and the publication of said notice, is hereby ratified, approved and confirmed. PASSED, ADOPTED and APPROVED on this the 10 day of March, 2002. APPROVED: c LYNN McILHANEY, Mayo ATTEST: Connie Hooks, City Secretary APPROVED: City Attorney 0 Exhibit "A" LEGAL NOTICE DATE TO BE PUBLISHED: March 5, 2002 ONLY BILL TO: ATTN: MRS. KIM FOUTZ P.O. BOX 9960 COLLEGE STATION, TX 77842 NOTICE OF PUBLIC HEARING The College Station City Council will hold a public hearing to consider an ordinance designating two tracts approximately 137.1386 acres and 55.5014 acres respectively in the Richard Carter Survey A-8, J.W. Scott Survey A-49, College Station, Brazos County, Texas conveyed to College Main Apartments Ltd. by CSL Properties, by deed recorded in Volume 3687, Page 258 and conveyed to TAC Realty lnc. by College Main Apartments Ltd by deed recorded in Volume 4428, Page 248 of the Deed of Records of Brazos County. Texas; and generally located at the southeast comer of the intersection of Highway 60 and Copperfield Drive in College Station, as Reinvestment Zone Fifteen (15) for a Tax Increment Financing District as provided in the Tax Increment Financing Act. This public hearing will discuss the creation of the zone and its benefits to the municipality and other matters related thereto. At the hearing any interested person may speak for or against the creation of the zone, its boundaries, or the concept of tax increment financing. The hearing will be held in the City Council Chamber at College Station City Hall, located at 1101 Texas Avenue, College Station, Texas at 7:00 p.m. on Thursday, March 14, 2002. Any request for sign interpretative services must be made 48 hours before the meeting. To make arrangements call (979) 764-3547 or (TDD) 1-800-735-2989. For additional information, please call Kim Foutz, Director of Economic Development, City of College Station Department of Economic Development, at (979) 764-3753. • ~J TAX rNCROONT tINANCE DIS'fBtc.-r CSL o Taxaa, Irtc 182. Acres Tract i Richard C ar 6UNmy. A•8 1 J W. 6 tt Survey, A•48 Cotfege Station, ~rasos County. Texas , Flald note" of a 192.64 sue v Or percal of land, lying and being situated , In the Richard Carter Survey, Abstr t No. 8 and In the J. W. Scott Survey, Abstract No. 49, College Starort, a Sao$ County, Taxes, and being all of the 167.64 acre tract described In the d od from Texas Instruments. Inc., to CSL of Texas, Inc., recorded In Volume 2730 Papa 82, of the official Records of Srazoa County, Texas, and all of the called 5.00 acre tract described In the deed from ~I Bryan Coca-Cola Bottling Co, to CSy of Taxes, Inc.. recorded In Volume 3056, Pape 210, of the Official Records of ftazos County. Texas, and said 192.84 sera i tract Wing more particularly describep as follows- tj BEQINNtfYt7 at the 3i' lean raj found at an 8' creosote post fence comer ~ marking the north corner of the boforo#wntloned 25.00 acre tract In the soL4haest right-of-Way line of Farm to Market Fbad No. 60, same being the occuolad west corner of the Potora, of all - called 46.19 acre tract e; recorded In Volume 223. Page 112, of the Dead Records of Oraros County. Taxes. f THCNCE along the common trpled line between ibe baforam4ntlonmd 25.00 acre tract 1 167.64 more ract (lying to the southwest) and the beforernentioned 46.19 acre tract 1 13.67 acre tract trying to the northeast) t described In the coed to Csrrara Par- erahip recorded In Volume 588. Page 488, of the Deed Records of Brazos Coun Texas, s4 follows: S 531 39' 04' E for all tonce of 119.53 feat to a Si' Iron rod set j at sintangia point corner, from wnich a 4' ceder post lfaea N 23' 16' 08' E - 1.2 feat, and a 20^ 1 ~I posr qak tree fence angle point beers 5 611 16' i I+ 46' E+• 13.3 feet, S 461 08' 49' E fora ~aetance of 162.98 feet to a 27' post cek I~ tree 1#nea angle pole;. S 43117' 58' E lvw a dlitance of 128.28 feet to s h' Iron rod set for angle point corner, from welch a 20' post oak ~I ttea t angle point bears fit LS' 08' 29` W - 1{J 9.01 t, S 444 31' 15' E at a atanee of 670.65 feet pass a %r' Iron rod I !ound marking the east corner of the 25.00 acre :reel, from which a 26' post oak tree fence angle ' j point I bears N 40' 02' 40' W - 25.6 feaL contirpe an for a total distance of 1269.44 feet I to a ' Iron too found at wassile fence corner markf g the common comer berwean the 48.12 acre t(sel and the 113,67 acre tract, t S 449 59' 40' E tot a 4 latance of 1346.44 feet to a X' Iron rod found irt a 6' ceder post fence corner marking the east crner of the 167 04 acre tact. some Doing In trw1northwest right-of-way line of Stara Hwy No. 30; j i 1 71-WNCE along the notViwaat r1nt-of-way Ure of Sla:o Nary No 30. manta being the southeast limo of trio beforarhentloned 167,64 acre irect, as foilaws- S 44' 21' 44' W for a 4latance of 2367.10 feet to a K' Iron rod eel sr;The beginning of a ourva, conoeve to the southeast, having is radlua of 2924.70 foot, a ; brokertOonerate right-of-way marker bsara S 40' 201 44'W -0.7feet, •,r rW-" Exhibit ' V 0 CSL of Texas. Inc. 192.64 Ante Tract ! Richard Carter Survey. A-6 J. W. Scott Survey. A-49 Collage Station. 8rstos County. Team Continued - Page 2 Southwesterty along aa>Cwvr for an src length of 450.07 fast to the a of this curve, the chord bears S 36.67' 14' W - 449.62 feet, ■ eonorele right-of-way rt►arke~ bests 8 63.08' 47' W - 0.67 foot and a K • If,IJr, rod found bean S 13. 25' 23' W - 0.60 feet. S 36. 32' 44' W for • tatanca of 286.46 feet to a K' Iron rod found a 6• creosote post fence comer meridng the 94 st corner of the caged 67.304 sore tract d""I)od to the dead rseardad in Volume 1192, Pape 370, of the Official Records of Brains Coun V. Texas, from which s 1 • Iran pipe found me the south comer of a 260.000 acre tract racer In Volume 424, Page 672, of tree Deed Recof a of Brazos County, Texas, bears S 36' 3a Z ' W - 400.21 fee t: TMENCE along the corrynan Ilrte etweon the beforem4ntioned 167,64 acre tract and the 57-304 acre tract, *djscA at to a fence, as follows: N 46. 22' 03• W fora Istance of 1610.68 feet to a K' Iron rod found a 6' cteosots post lance 411914 POIML N 01. 54' 20' E for 4 fstence of 1377.16 fast to a K' Iron rod found r a 6. 0oasate post fence angle point. V 40' 29' 0e- W tot a tstance of 662.29 feet to a W Iron rod found t a crsceme post fence owner marking the noun roarer of the 67-304 acre tract lr1 the south t right-or-way 1104 of the beforsfnentloned FM No. 60 and name being In the vqW cornar of the baforemen coned 167.64 acre tri+ct; THENCE N 441 15' 21' E siong the southeast right-of-way line of FM No. 60, same being the northwest line of V)4 bofor6mantfoned 167.64 sets tract and .he 26.00 acre tract adjacent to a fa a, for a distance of 2088.68 feet to the PLACE OF BEQINNINO, containing 192.84 acres of land, more or leas. Beatings based on True North, as obtained by Soler Observation. OF i Surveyed November 1999 1• w JJ 4:~~) ~ e` By: I JVI. Li T Q i S. M, Kling y °Ivass•o+•lO R.P.L.S. No. 2003 SU It~p.ro0 1t,16/t9 -42 WL-Wo a«o...rn..+,o .v,o euwvr+'wo N.'" Txv" \ f~ • ~ • „w~ tea, LOT IPH(~ zawMytft VOLUME ~AND 2~ AC, ~ t 8•Qb.R~~~ 21p its .4 - - - 14u g~ R Q2 -S7S73 BCb.R GE an • EUISZT "Cc? Y • ~ rr~r~ ~ w..~. , . 1~r r ~ /I HAR~Y GJ.Y +l R uN6 QtppK S 6.AT 4gpF ~5 N 7 6 rip RAC ~I PARK .w TR J• AC PACC 71A 7) Exhibit "D" Preliminary Project and Finance Plan A copy of (lie preliminary project and finance plan is available for public view at the City Secretary's office located at I 101 Texas Avenue, College Station, TX. Exhibit "E" A PETITION TO THE CITY COUNCIL OF THE CITY OF COLLEGE STATION FOR THE DESIGNATION OF REINVESTMENT ZONE NUMBER FIFTEEN, CITY OF COLLEGE STATION, TEXAS UNDER CHAPTER 311, TAX CODE TO THE CITY COUNCIL OF THE CITY OF COLLEGE STATION, TEXAS: Pursuant to the provisions of Chapter 311, of the Texas Tax Code as amended (the "Code"), the undersigned Petitioners hereby request the City Council of the City of College Station, Texas (the "City"), to establish within the City a reinvestment zone (the "Zone") over an area of land described by metes and bounds in Exhibit "A" and shown as Exhibit "B" (the "College Station Reinvestment Zone Number 15 Area"). Petitioners are the owners of property constituting at least 50 percent of the appraised value of the property in the College Station Reinvestment Zone Number 15 Area according to most recent certified appraisal roll for the County of Brazos, Texas. Petitioners represent to the City Council that: The area proposed to be included in the Zone is entirely within the corporate limits of the City. The area proposed to be included in the Zone is generally undeveloped, but shall be devoted primarily to light industrial, commercial, office, retail, and multi-family uses. Unless the zone is created as requested by Petitioners, the development of the College Station Reinvestment Zone Number 15 Area will be impeded because the area is predominantly open, unproductive, underdeveloped and other factors. The Petitioners would respectfully request the City Council as follows: 1. To create the proposed Zone pursuant to the provisions of Chapter 311 of the Code and name it the "Reinvestment Zone Number 15, City of College Station, Texas." 2. To provide that the Zone contain the area described by metes and bounds in "Exhibit A" and as shown hereto as "Exhibit B", both of which are incorporated herein for all purposes. 3. To provide that the Zone have all the powers of a reinvestment zone created pursuant to the provisions of Chapter 311 of the Code. To appoint a Board of Directors for the Zone to exercise the authority granted by Chapter 311 for administration, management, and operation of • I-, the Zone and implementation of the Zone project plan and Zone financing plan. 5. To provide such other action and assistance as the City Council may deem necessary and appropriate to assist in the development of the College Station Reinvestment Zone Number 15 Area. Respectfully submitted to the City Council of the City of College Station by and through its City Secretary this 14 day of Jan., 2002, by the undersigned Petitioners. PETITIONERS : COLLEGE MAIN APARTMENT'S. LTD. a Texas Limited Partnership c%: Cambridge Interests, Inc., General Partner President TAC TY, INC., a Texas corporation By: _ Donald A. Adam, Chief Executive Officer Recording Data: Owner's Deeds are recorded in Vol. 3687, pg 258 of the Deed Records of Brazos County, Texas Recording Data: Owner's Deeds are recorded in Vol. 4428 , pg 248 of the Deed Records of Brazos County, Texas. By executing this Petition, the foregoing persons represent and warrant that they are duly authorized to execute this Petition on behalf of the respective entity named above • 4461, TAX INCRFMf2IT ifINANCE DISTRICT 192. Acre Tract Richard C rttar Survey, A-8 J. W_ S tt Survey, A-49 College Station, Brazos County, Texas • Field rotes of a 192.64 acre tr In the Richard Carter Survey. Abal Abstract No. 49, Collage Station, 167.64 acre tract described In the < Texas, Inc., recorded In Volume 273 County, Texas, and all of the called Bryan Coca-Cola Bottling Co. to C! Page 216, of the-Official Records of tract being more partlculady describ t or parcel of land, lying end being situated Ct No. 8 and in the J. W. Scott Survey, lzos County, Texas, and being all of the id from Texas Instruments, Inc., to CSL of Page 82, of the Official Records of Brazos 5.00 acre tract described In the deed from of Texas, Inc., recorded in Volume 3055, azos County, Texas, and said 192.64 acra. as follows: BEGINNING at the Iron n marking the north corner of the befog right-of-way line of Farm to Market corner of the Peters, et all - called Page 112, of the Deed Records of 1 T14ENCE along the common c 25.00 acre tract 1 167.64 acre before mentioned 46.19 acre tract described In the deed to Carrara Parl of the Deed Records of SraZOS Counl S 5310 39' 04' E for a i at an post t post 46" E S 46' 08' 49- E for a tree f S 43017' 58" E for a o for ar tree 1 9.0 f4 found at an a" creosote post fence corner ►entioned 25.00 acre tract In the southeast lad No. S0, same being the occupied west .19 acre tract as recorded In Volume 223, [os County, Texas, cupled line between the bsforamentloned ract (tying to the southwest) and the 113.67 acre tract (lying to the northeast) erahlp recorded In Volume-586, Page 488, , Texas, as follows: Ittance of 119.53 feet to a Y." Iron rod set angla point corner, from which a 4" ceder ears N 236 15* 08" E - 1.2 feat, and a 20' ak tree fence angle point bears S51016' - 18.3 feet, ' iistance of 162.98 feet to a 27" post oak nce angle point. Istance of 128.28 feet to a X' Iron rod set ale point corner, from which a 20' post oak Once angle point bears N 4b° 08' 29" W - S 440 31' 15" E at a stance of 670.65 feet pass a Ys' iron rod found markng the east corner of the 25.00 acre tract, rom which a 26" post oak tree fence angle point bears N 40' 02' 40" W - 25.6 feet, contl a on for a total distance of 1289.44 feet to a " Iron rod found at crosstie fence corner rnarki g the common comer between the 46.19 acre aCt and the 113.67 acre tract, S 440 59' 40" E fora distance of 1346.44 feat to a Ys" Iron rod found a t3" ceder post fence corner marking the east c rner of the 167.64 acre tract, same being In the northwest right-of-way line of State Hwy No. 3 : THENCE along the northwest rldht-of-way fine of State Hwy No. 30, Marne being the soutiveaat lino of the before nuoned 167.64 acre tract, as follows: S 44° 21' 44" W for a latance of 2387.10 feet to a 14' Iron rod sot at the beginning of a curve, concave to the south est. having a radius of 2924.79 foot, a broke concrote doht-of-way marker bears S 40' 20' 'W-6.7feet, ul,No C*.G'"ee+"0 A.o sunvrrnq U CSL of Texas. Inc. 192.64 Acre Tract Richard Carter Survey, A-8 J. W. Scott Survey. A-49 College Station. Brazos County. Texa Continued - Pape 2 Southwesterly along 21 the 14' K' In feet, S 35' 32' 44' W for a found the e Page 38' curve for an arc Iongth of 450.07 fast to of this curve, the chord bears S 391 57' - 449.62 fast, a concrete right-of-way bears S 53.08' 47' W : 0.67 feet and a i rod found bears S 13' 25' 23" W - 0.60 stance of 286.46 feet to a W Iron rod - a 8" creosote post fence comer marking t comer of the called 67.304 acre tract Id In the deed recorded in Volume 1192, 76, of the Officlal Records of Brazos Texas, from which a 1' kon pipe found the south comer of a 250.000 acre tract I In Volume 424, Page 672, of the Deed of Brazos County, Taxes, bears S 350 W - 400.21 feet: THENCE along the common fine getwean the beforementloned 167.64 acre tract and the 157.304 acre tract, adjac nt to a fence, as fopows: N 46' 22' 03" W for a found N01°54'20'E fora found N 40° 26' 06" W for a found the nc the acre tance of 1510.58 feet to a W Iron rod a 6' creosote post fence angle point, tance of 1377.16 feat to a K" Iron rod mr a 6" creosote post fence angle point, tans of 662.29 feat to s 3S' Iron rod a 6' creosote post fence corner marking h comer of the 67.304 acre tract in the it right-of-way fine of the antionad PM No. 60 and same being in : corner of the beforementioned 167.64 THENCE N 44. 15' 21" E along southeast right-of-way line of FM No. 60, same being the northwest Una oft a baforementlonad 167.134 acre tract and the 28.00 sere tract. adjacent to a fe , for a distance of 2088.58 feet to the PLACE OF BEGINNING, containing 19 .64 acres of land, more or less. Bearings based on True North, as Prep"red 11115/99 ~*"2bA~ 142 by Solar Observation. Surveyed ,~{November 1999 M- S. M. Kling R.P.L.S. No. 2003 KLIIdO iMO1ME[A ANC antvn'w,o O I-' • t/ TAX INCREMENT REINVESTMENT ZONE NO. IS Preliminary Project Plan Preliminary Finance Plan • City of College Station January, 2002 is REINVESTMENT ZONE NO. 15 CITY OF COLLEGE STATION, TEXAS Highway 30/60 Corridor Hotel/Conference Center C~ Introduction Tax increment financing in the State of Texas is authorized under THE TEXAS TAX INCREMENT F[NANaNG AcT OF 1981. This Act allows a city to establish a reinvestment zone, "capture" increased taxes resulting from increased property values and place the revenue generated into a special fund. These revenues can then be used to finance improvements within the reinvestment zone area permitted under the law. The City of College Station proposes to establish a Tax Increment Reinvestment Zone (TIRZ) for the purpose- of dedicating the tax revenue generated within the zone to accomplish a comprehensive infrastructure and facility development. The tax revenue generated within the TIRZ will be used to provide the improvements as described in Exhibit "A". The City of College Station has executed various agreements with TAC Realty Inc. for the development of a 300+ room full service hotel and approximately 250,000 st office building in conjunction with the City's development of an approximately 60,000 gross square foot conference center. The City has issued $5,500,000 in Certificate of Obligation debt; will fund the issuance of an additional $11,400,000 in Certificate of Obligation debt; and utilize an Interfund Loan of $1,100,000 ($500,000 hote/motel and $600,000 electric fund) for the construction and equipping of the conference center facility for a total of up to $18,000,000. The City will use three primary funding sources for the servicing of this debt. One source will be the captured value from Tax Increment Reinvestment Zone #15 containing the hotel, and office building. These facilities have been projected to carry a value of not less than $53,350,000 for the life of the TIRZ. Another funding source would be through hotel/motel tax revenues generated specifically from the TIRZ hotel. The City estimates that the hotel will generate approximately $550,000 in hotel/motel tax revenues annually and will use a portion of those revenues to service any remaining annual debt service requirement after the annual TIRZ funds are exhausted. The final source will be the captured value from Tax Increment Reinvestment Zone #15 containing other projected development. These facilities have been projected to increase the captured value by an additional $10,000,000 in years five through thirteen of the TIRZ and $5,000,000 in years four and fourteen of the TIRZ. No additional increment is anticipated for the balance of the TIRZ. The TIRZ area is more specifically defined by description in Exhibit "B" and map in Exhibit "C" attached hereto and incorporated herein. As background, in 1997 the firm of Coopers and Lybrand conducted a feasibility analysis for the marketability of such a facility. The results of the analysis indicated that there is a market for a multi-purpose meetings facility. This original analysis estimated that the facility would carry an operating deficit of approximately $57,000 in year one decreasing to $37,000 by year five. In March 2000, PriceWaterhouseCoopers L.L.P conducted an update of the feasibility analysis. The PWC review and findings indicated "we have no reason to believe that the estimates of financial operations would vary materially from the estimates presented in the 1997 report". • PRELIMINARY PROJECT PLAN The Texas Tax Code requires that a Project Plan be prepared by the Reinvestment Zone Board of Directors. The Project Plan must include a map showing existing conditions, uses of real property in the zone, proposed improvements and proposed changes in the city codes and master plans. A Preliminary Project Plan, including the information required for the Final Project Plan, has been formulated and is presented below. Purpose The intended purpose of this development is twofold: first, to create a larger venue for conventions within the City of College Station; and second, to function as a catalyst for development within the Highway 30/60 corridor area. Area Description • The area and specific boundaries to be adopted by the College Station City Council as Tax Increment Reinvestment Zone #15 is described in Exhibit "B". This area can generally be defined as approximately 192.64 acres located at the southeast corner of the intersection of Highway 60 East and Copper£teid Drive in College Station, Texas. Bounded by both Highway 60 east and Highway 30. Property ownership is identified in Exhibit "D" attached hereto and incorporated herin. Location Mao Please see Exhibit "E" for a location map attached hereto and incorporated herein. Use of Real Property The proposed reinvestment zone is essentially comprised of two contiguous tracts of land. An analysis of existing conditions and land use within the zone indicates that the area is vacant. No residents will be displaced as a result of the TIRZ development. Area Property Conditions This area is substantially undeveloped. Much of the area is open with scattered tree growth. Terrain in this area becomes more rolling and continues to rise in slope towards the north and east. There are no regulatory floodplains in the area. See Exhibit "F" for aerial/existing conditions and Exhibit "G" for a contour map of the area attached hereto and incorporated herein. Utilities are not currently available for the majority of the tract, but will be extended throughout the TIRZ area by the City of College Station prior to completion of construction of the project. 0 Proposed Improvements For purposes of this Reinvestment Zone, TIRZ revenues will be used for the construction and equipping of a conference center, landscaping, parking, and related on-site infrastructure to be owned by the City of College Station in the defined area. See Exhibit "H" for concept drawings and Exhibit "A" for project scope description. Both exhibits are attached hereto and incorporated herein. The City has a contract with TAC Realty Inc. to purchase a ten (10) acre tract of land for the conference center and associated parking and landscaping. The City has agreed to construct infrastructure to support the project as follows: Road improvements, drainage, streetscape, landscape, lighting and sidewalks as depicted in Exhibit "I". Water improvements as depicted in Exhibit "J" Wastewater improvements as depicted in Exhibit "K" Fiber optic, electric, telephone and gas The road, water, wastewater, and other utility improvements are not to be funded through the TIRZ, but rather, by separate alternate funding sources of the City of College Station. Exhibits "I", "J", and "K" are attached hereto and incorporated herein. Comprehensive Plan The improvements recommended in this plan are compatible with the uses reflected in the Comprehensive Plan for the City of College Station. The Comprehensive Plan was originally adopted in August 1997. Subsequently, an area study was conducted, known as the 30/60 corridor Master Plan. The study indicated the area should be reflected in the Comprehensive plan as mixed use, with an emphasis on uses such as office, commercial, light industrial and higher density single family. Suggested zoning classifications included R-3, R-4, R-5, A-P, and R&D. This study was reviewed and approved by the City of College Station City Council on April 26, 2001 and the Comprehensive Plan was amended to reflect these changes. Proposed improvements and land uses are compatible with the updated Comprehensive Plan. Zonin As part of the implementation of this project, zoning changes were necessary. These changes resulted in rezoning 55.5014 acres out of the 192.64 acre tract from the M-1 Planned Industrial zoning district to the C-B Commercial Business zoning district. This rezoning was approved by the College Station City Council on November 15, 2001. The remaining 137.1386 acres in the TiRZ are currently zoned as M-1 Planned Industrial. A tentative land use plan has been developed (see Exhibit "L" attached hereto and incorporated herein) for this area and some re- zoning will be necessary before proposed development occurs. The area is proposed to be a mixed use development. The concept includes office, commercial, business, and multi-family uses. C7 21- 03) 4 - 0 PRELIMINARY FINANCIAL PLAN The preliminary financial plan that follows was prepared by the City of College Station Finance Department. This section is designed to provide information on the projected monetary impact that the formation of a TIRZ could have. It will also show how that impact can be utlized to enhance the area and region through leveraging the resources of each entity that participates in the project. This section is intended to satisfy the requirement under the Tax Increment Financing Act (CHAPTER 311, TEXAS TAx CODE) which requires that an economic feasibility study be prepared in connection with the development of a reinvestment zone financing plan. 31 _ • TAX INCREMENT REINVESTMENT ZONE ANALYSIS TAX INCREMENT REVENUE CALCULATIONS The City creates the Tax Increment Reinvestment Zone by voluntary petition. The Base Value is the the total appraised value of all real property taxable by the unit when the Tax Increment Reinvestment Zone (the "Zone") is created. The Captured Appraised Valuation is the total appraised value of all real property taxable by the unit and located in the Zone for that year less the tax increment base of the unit which is added to the tax base after the Zone is created. The Captured Assessed Valuation does not include personal property. The amount of a taxing unit's tax increment for a year is the amount of property taxes levied and • collected by the unit for that year on the captured appraised value of real property taxable by the unit and located in a reinvestment zone. The Tax Increment Reinvestment Zone has no taxing powers; however, participating political subdivisions' tax revenues generated on the Captured Assessed Valuation are diverted to the Tax Increment Fund. Tax increment revenues can only be used for the benefit of the property within the Zone, including paying for capital improvements and paying debt service on bonds issued for improvements. A Tax Increment Reinvestment Zone has a defined period of existence which is generally related to the term of debt Once the Zone is abolished, the tax revenues are no longer diverted to the Tax Increment Fund. The proposed Zone will terminate on March 14, 2022. The City creates the Zone and is the issuer of debt. Other participating political subdivisions allow their tax revenues to be diverted to the Tax Increment Fund and have representation on the TIRZ Board. • The current total appraised value (base value) of taxable real property in the TIRZ is $3,444,610. The estimated captured value of the TIRZ during each year of its existence is shown in Exhibit "M" attached hereto and incorporated herein. The Tax Increment Financing Plan for Reinvestment Zone No. 15, City of College Station identifies the projects to be accomplished, and-the monetary relationships which accompany the project for funding and ultimately paying for the improvement. 0 3 AAA : ~ 8 0 Proiect Identity Tax Increment Reinvestment Zone No. 15 has been proposed as set forth in the Preliminary Project Plan, as well as the specific projects. The development will be a new office building, hotel, conference center, parking, landscaping, and related on-site infrastructure. Debt issued for and cash allocations made by the City for the construction and equipping of the conference center will be paid for with TIF revenues, as well as project-related hotel/motel tax revenues. Estimated Project Costs The conference center project cost is estimated to be $18,000,000. Preliminary conference center development costs were developed by the architectural fine of HKS Inc. in conjunction with City of College Station staff. Preliminary estimates include estimates for construction, furniture, fixtures, equipment, landscaping, related utilities, parking, land acquisition, and professional fees. See Exhibit "N" for cost estimates, Exhibit "H" for concept drawings, and Exhibit "A" for project scope description all attached hereto and incorporated herein. The 10 acres of land is currently under contract for $100,000. Economic Feasibility The City of College Station is aware that the area is eligible for the creation of a tax increment reinvestment zone. This area, as documented in the Project Plan section, is underdeveloped with the strong potential for new commercial development. A. Appraised and Captured Value Real property appraised value of the Zone (base value), as well as the captured value and the tax increment projection is shown in the table below. The table indicates an initial $31,675,000 increment in FY 2005, additional annual increment of $36,675,000 beginning in FY 2006, and a $153,350,000 cumulative increment over the life of the TIRZ. Furthermore, the table is based upon a value of $53,350,000 for the hotel and corporate office building project and uses the entire City of College Station ad valorem tax rate ($0.4777/$100) and Brazos County's ad valorem tax rate less the amount the County has pledged directly to debt service ($.3857/$100). The total beginning rate for the TIRZ will be ($0.8634/$100). to J- • • BASE AL CUMULATIVE t ANNUAL TAX CAPTURED ;E INCREMENT GENERATED '2002,c4' • $3,444,610 $0 ' $0 X8634 ' $0 20k 0' $3,444,610 $r0 $0 '.88 $0 2004', $3,444,610 $0 $0 .8912 $0 $3,444,610 $31,,67, 000 $31,675,000 •90 1," $285,741 6y: srl $3,444,610 $36 67-5 0-00 $68,350,000 .9021 $616,585 53,444,610 $78,350,000 y 021. • $706,795 00 .000 $3,444,610 $88,350,000 20 -1.'4~ $797,005 $3,444,610 $98,350,000 9 $887,215 $3,444,610 $108,350,000 $977,425 $3,444,610 $118,350,000 $1,067,635 $3,444,610 $128,350,000 1024 "x$1,157,845 $3,444,610 $138,350,000 $1,248,055 $3,444,610 $148,350,000 $1,338,265 $3,444,610 $153,350,000 2' $1,383,370 $3,444,610 $153,350,000 026._, ,383,370 B. Taxing Units There are two proposed taxing units for the TIRZ. Their tax rates per one hundred dollars of valuation are: City of College Station $0.4777 Brazos County 0.4200 Total: In the above appraised and captured value analysis, the City's entire ad valorem tax rate of $0.4777/$100 valuation for FY 2001-2002 is used, and Brazos County's FY 2001- 2002 ad valorem tax rate excluding that pledged to debt service of $0.0343/100 valuation is used ($0.3857). The Bryan Independent School District's ad valorem tax rate is not used. No change over time in the tax rates of the three units was considered. C. Financial Structure The following is the final financial structure for the Financing Plan. r C B D- o $0 10 0 A. Project Cost $18,000,000 B. Funding Certificates of Obligation $16,900,000 Interfund Contributions $ 1,100,000 As stated above, the City has already issued $5,500,000 in Certificates of Obligation and the City will also utilize an Interfund Loan of $1,100,000 ($500,000 hotel/motel and $600,000 electric fund) and an additional debt Certificate of Obligation issue of $11,400,000 to finance the construction and equipping of the Conference Center. The City of College Station plans to use TIRZ Revenues and Hotel/Motel Revenues generated directly from the hotel and office building and other TIRZ revenues generated by subsequent projected development to service the interfund loan and debt issues. Bond Issuance The City of College Station has issued $5.5 million in Certificates of Obligation for financing a portion of the project costs. The amount included in the plan for proposed tax increment bonds are as follows: Series 1998 $5,500,000 The financial requirements to amortize this issue on an annual basis are as shown below. The debt service schedule is for fourteen (14) years. 1998 Issue Year Requirement 2002 $0 2003 $0 2004 $465,055 2005 $465,790 2006 $464,123 2007 $466,680 2008 $468,258 2009 $463,948 2010 $468,598 2011 $467,139 2012 $464,755 2013 $466,395 2014 $466,918 2015 $466,318 2016 $464,580 2017 $461,700 2018 $ 0 2019 $ 0 2020 $ 0 2021 $ 0 2022 $ 0 • ~~7 The City of College Station will also issue an additional $11.4 million in Certificates of Obligation for financing a portion of the project costs. The amount included in the plan for proposed tax increment bonds are as follows: Series 2003 $11,400,000 The financial requirements to amortize this issue on an annual basis are as shown below. The debt service schedule is for eighteen (18) years. 2003 Issue Year Requirement 2002 $0 2003 $0 2004 $0 2005 $1,254,000 2006 $1,049,000 2007 $1,049,000 2008 $1,049,000 2009 $1,049,000 2010 $1,049,000 2011 $1,049,000 2012 $1,049,000 2013 $1,049,000 2014 $1,049,000 2015 $1,049,000 2016 $1,049,000 2017 $1,049,000 2018 $1,049,000 2019 $1,049,000 2020 $1,049,000 2021 $1,049,000 2022 $1,049,000 12 0 Interfund Loan-- The City of College Station will provide an Interfund Loan of $500,000 from the hotel/motel fund and $600,000 from the electric fund for construction of the conference center and associated improvements. The debt service schedule is for eight (8) years. Interfund Loan-- Interfund Loan Year Re4uirements 2003 $0 2003 $0 2004 $0 2005 $0 2006 $0 2007 $0 2008 $0 2009 $0 2010 $0 2011 $0 2012 $0 2013 $0 2014 $0 2015 $138,300 2016 $175,000 2017 $175,930 2018 $173,640 2019 $175,940 2020 $177,690 2021 $178,890 2022 $174,680 t 31 . t , 141 13 IAN r D. CUMULATIVE ANNUAL REQUIREMENTS 0 E Year 1998 Issue Re uire. 2003 Issue Require. Interfund Loan Total Require. H/A9 Revenues TIF Re,.enues H/M Transfer Total Available Cumul. Balance 2002 $0 $0 $0 $0 $0 $0 $0 $0 $0 2003 $0 $0 $0 $0 $0 $0 $0 $0 $0 2004 $465,055 $0 $0 $465,055 $62,500 $0 $300,000 $362,500 ($102,555) 2005 $465,790 $1254,000 $0 $1,719,790 $400,000 $285,741 $250,000 $935,740 ($886,605) 2006 $464,123 $1,049,000 $0 $1,513,123 $450,000 $616,585 $250,000 $1,316,585 ($1,083,142) 2007 $466,680 $1,049,000 $0 $1,515,680 $500,000 $706,795 $150,000 $1,356,795 ($1,242,027) 2008 $468,258 $1,049,000 $0 $1,517,258 $550,000 $797,005 $150,000 $1,497,005 ($1,262,280) 2009 $463,948 $1,049,000 $0 $1,512,948 $550,000 $887,215 $75,000 $1,512,215 ($1,263,012) 010 $468,598 $1,049,000 $0 $1,517,598 $550,000 $977,425 $0 $1,527,425 ($1,253,185) 2011 $467,139 $1,049,000 $0 $1,516,139 $550,000 $1,067,635 $0 $1,617,635 ($1,151,689) 2012 $464,755 $1,049,000 $0 $1,513,755 $550,000 $1,157,845 $0 $1,707,845 ($957,598) 2013 $466,395 $1,049,000 $0 $1,515,395 $550,000 $1,248,055 $0 $1,798,055 ($674,938) 2014 $466,918 $1,049,000 $0 $1,515,918 $550,000 $1,338,265 $0 $1,888,265 ($302,591) 2015 $466,318 $1,049,000 $138,300 $1,653,618 $550,000 $1,383,370 $0 $1,933,370 ($22,838) 2016 $464,580 $1,049,000 $175,000 $1,688,580 $550,000 $1,3832370 $0 $1,933,370 $221,952 17 $461,700 $1,049,000 $175,930 $1,686,630 $550,000 $1,383,370 $0 $1,933,370 $468,692 8 $0 $1,049,000 $173,640 $1,222,641 $550,000 $1,383,370 $0 $1,933,370 $1,179,423 2019 $0 $1,049,000 $175,940 $1,224,940 $550,000 $1,383,370 $0 $1,933,370 $1,887,853 2020 $0 $1,049,000 $177,690 $1,226,690 $550,000 $1,383,370 $0 $1,933,370 $2,594,533 2021 $0 $1,049,000 $178,890 $1,227,890 $550,000 $1,383,370 $0 $1,933,370 $3,300,014 2022 $0 $1,049,000 $174,680 $1,223,680 $550,000 $1,383,370 $0 $1,933,370 $4,009,704 1 2 42 14 • E. Funding Analysis See Exhibit "M" for Funding Analysis F. Early Pay-Off of Debt Any excess funds generated from unanticipated tax increment will go toward early retirement of the debt. Project Duration The project duration will be for twenty (20) years with a eighteen (18) year amortization period on the bond issue. ar{, KFj~ ~3 31 • Exhibit A Description of Improvements/Project Scope • • is Exhibit "A" Project Scope Description The property is made up of two tracts of land. The first tract is comprised of 55.5014 acres and will be the site for a 60,000 square foot conference center, a 315-rQOm hotel, shared space for both facilities and a 250,000 square foot office building. The estimated value of the development to be constructed on this tract will be approximately $73 million. The conference center will be approximately 60,000 square feet in size. The facility will be developed by the City of College Station and will have a grand ballroom, a junior ballroom, four meeting rooms, an amphitheater, storage space, landscaping, courtyards and parking. The full-service hotel will be constructed and owned by the developer and have 315 guest rooms. Hotel amenities will include pool(s), a restaurant and bar, retail space, golf services, parking, landscaping and courtyards. Shared space for the Hotel and Conference Center will be constructed by the City of College Station to serve both facilities. The shared space will be paid for in the TIF project cost (see exhibit N) and partially paid for by the developer as outlined in the Development Agreement dated November 1, 2001. Shared facilities will include housekeeping, laundry, maintenance, mechanical and employee facilities. The Office building, to be constructed by the developer will be made up of approximately 250,000 square feet Landscaping, roads, and parldng on the will be constructed by the developer with 50% of the costs being paid for by the developer and the other 50% being paid for by the TER Additionally, two boulevards will be constructed. The first will be constructed off of Copperfield Drive in an easterly direction and the second will be constructed off of University Drive in a southerly direction. The two boulevards will connect University Drive to the new Copperfield Drive extension. The remaining tract comprised of 137.1386 acres is tentatively planned for office, high density residential, and commercial and service uses. The estimated value of development for this tract will be approximately $100 million. g-ate 31~.:~. • Exhibit B Tax Increment Reinvestment Zone Area Description r~ • 0 "Be' TAX INCREMENT 4INANCE DISTRICT for a, at an post t post 4 46' E for a tree f fora4 for an tree f 9.0 fe Field notes of a 192.64 acre tr In the Richard Carter Survey, Abs- Abstract No. 49, College Station, 187.64 acre tract doscribed In the T Texas, Inc., recorded In Volume 273 County, Texas, and ell of the called Bryan Coca-Cola Bottling Co. to C: Page 218, of the-Official Records of tract being more particularly descdb BEGINNING at the K" Iron n marking the north comer of the befoi right-of-way line of Farm to Market corner of the Peters, et all - called Page 112, of the Deed Records of 11 THENCE along the common it 25.00 acre tract 1 167.64 acre beforementloned 46.19 acre tract % described In the deed to Carrara Part of the Deed Records of Brazos Coum S53°39'04"E S 46' 08' 49' E S 43'17' 58' E S 44° 31' 15" E S 44° 59'40" E t or parcel of land, lying and being situated ct No. 8 and In the J. W. Scott Survey, szos County, Texas, and being all of the id from Texas Instruments, Inc., to CSL of Page 82, of the Official Records of Brazos 5.00 acre tract described in the deed from of Texas, Inc., recorded In Volume 3055, azos County, Texas, and said 192.64 acre. as follows: found at an 8" creosote post fence comer tientioned 25.00 acre tract in the southeast )ad No. 60, same being the occupied west .19 acre tract as recorded In Volume 223, zos County, Texas; .upied line between the beforementloned act (lying to the southwest) and the 13.67 acre tract (lying to the northeast) rahip recorded In Volume-588, Page 488, Texas, as follows: istance of 119.53 feet to a Y," Iron rod set angle point corner, from which a 4' ceder ears N 234 15' 08' E - 1.2 feet, and a 20" ak tree fence angle point bears S 51° 16' - 18.3 fact, Ilstance of 162.98 feet to a 27" post oak nce angle point. Istance of 128.28 feet to a Ys' Iron rod set fie point comer, from which a 20' post oak ,nee angle point bears N 4154 08' 29" W - at a stance of 670.65 feet pass a Ys' Iron rod found marking the east corner of the 25.00 acre tract, rom whk:h a 26" post oak tree fence angle point bears N 406 02' 40' W - 25.5 feet, cont a on for a total distance of 1269.44 feet to a " Iron rod found at croastle fence corner marks g the common corner between the 46.19 acre act and the 113.67 acre tract, fore distance of 1346.44 feet to a Y," Iron rod found a 6' cedar post fence corner marking the east c rner of the 167.64 acre tract, same being In the northwest right-of-way line of State Hwy No_ 3 : THENCE along the northwest being the southeast line of the befo (-way lino of state Hwy No. 30, same oned 167.64 scro tract, as follows: S 44. 21' 44" W for o latance of 2387.10 feet to a X' Iron rod set at the beginning of a curve, concave to the southeast. having a radius of 2924.79 foot, a broke concrete right-0f-way marker bears S 404 20' 44' W - 6.7 feet, f 92;,T Acre Tract Rlcherd tier Survey, A-8 J. W. S Survey, A-49 College StatioItt Brazos County, Taxes KONO cN0804lC4-0 AND i(M1/E►Me 9 Tax" • r~ Ll CSL of Texas, Inc. 192.64 Acre Tract Richard Canter Survey, A-8 J. W. Scott Survey, A-49 College Station. Brazos County, Texa Continued - Page 2 Southwesterly along si the 14" X' In feat, S 36' 32" 44" W fore found the e Page 38' curve for an arc length of 450.07 feet to I of this curve, the chord boars S 39' 67' - 449.62 feet, a concrete right-of-way bears S 530 08' 47" W - 0.67 feet and a 1 rod found beers S 13° 213' 23" W - 0.60 stance of 286.46 fast to a K" Iron rod a 8' creosote post fence corner marking t comer of the called 67.304 acre tract id In the deed recorded In Volume 1192, 76, of the Official Records of Brazos Texas, from which a 1" Iron pipe found the south comer of a 250.000 acre tract i In Volume 424, Page 672, of the Deed of Brazos County, Taxes, bears S 360 W - 400.21 feat: THENCE along the common line tract and the 57.304 acre tract, adlao N 46' 22' 03" W for a found N 011 54' 20" E for a found N 40' 26' 06" W for a found the ru befc the acre wean the beforementloned 167.64 acre to a fence, as follows: trance of 1510.58 feet to a Iron rod a 6' creosote post fence angle point, tance of 1377.16 feet to a K" Iron rod tar a 6" creosote post fence angle point, tance of 662.29 feet to a Iron rod a 6' creosote post fence corner marking 1 corner of the 67.304 acre tract in the it right-of-way line of the antioned FM No. 60 and same being In corner of the beforementioned 167.64 THENCE N 441 15' 21' E along southeast right-of-way line of FM No. 60, same being the northwest One of t e beforemendonad 187.64 acre tract and the 28.00 acre tract, adjacent to a fe , for a distance of 2088.58 feet to the PLACE OF BEGINNING, containing 19 64 acres of land, more or leas. Saarings based on True North, as obta Arrpwsd 11/15/99 . 09-02b'-. w 162 by Solar Observation. Surveyed (November 1999 Y: <Nt. S. M. Kling R.P.L.S_ No. 2003 I i KLINO 040 /NE[J'1fq M/O 6LMVEYINo MrwJlcc T<lY _ / ,y A g; ~2 9 Exhibit C Tax Increment Reinvestment Zone Area Map o t.~ ~r v d E er oen.or: .av~ u a nr .au. eon .ar awur rR aun n r s r ro.e ua.n w n .or m n ~nm~mn~ a arrw wmee r our naRrn uru~r aom uo rwn o ar.aso n oa.ror a+ rmran+a o nr rorerrr a x ~ .u .n.'~ai as mr~.~m ~ a rtimmKw~i~o. anw wane lAa Mraoea C1ou~. ►w ry....>.ua.r.ww... a..r.s d . rrr. • n... wr... ~..u Exhibit D Property Ownership Description Parcel Num' Owner. Legal Desc: Acres: Vol/Page: ber 1 College Main Apartments Ltd, Richard Carter Survey, A-8 J.W. Scott Survey, A-49 137.1386 acres Volume 3687 Page 258 Parcel Number 2 Owner: TAC Realty Inc. Legal Desc: Richard Carter Survey, A-8 J.W. Scott Survey, A-49 Acres: 55.5014 Vol/Page: Volume 4428 Page 248 31 • • Ll Exhibit E Location Map 0 i ~ -1711- E CL Q 0 J LL (Y) a s u u • 13`A• Exhibit F Aerial Map/Existing Conditions Map U 1 \ Highway Exhibit F 30160 TIF Aerial & Existing Conditions 8 to 'S. • Exhibit G Contour Map n • 31 ~Y a ~7 • E 9 Exhibit H Concept Drawings ~4,!,Cg 31 - - S 8 - r-----1 7- L_----J I I I I I I I I I Irk, via a rnw. conoa aa~ u. x 1 1 1 J j I I `P'--T I I U ; - I I I I I I I I I : : Square Footage: Hatel Geound Floor 35,863 Canfereoee Ceata 601004 CO `RQ S6ued Common Spue 24,464 Total Ground Floor 120,331 It' HKS CONFERENCE CENTER - HOTEL Ground Floor Plan COUF.Q6 STATION, TEXAS - leauaq 8, 2002 mn 303 M wXVIM V) ~I • fly-~ Exhibit I Road Improvements • • 0 V MUPWAM . 0 h i - R iMYQ {Alm R 7R*n L NAr - - q iRAYE11AAlf >Y VMV LLVYE - CB1C • raw►.Wf t R1K . . . . . . . . . . , ~ e Y t 1~ ~ 1 a ` IS ~ • • ~ I ` ii 1 1 co sNl 4 I ~ 1 ~ 60~ I Il d r dl~ m I S ~ ~ ' + l l 1 1 1 I ~ I 1 IJ . 1 All, C= OF COLLEGE-STATION ~ ,,nom _ tI1YY 1M CORRIDOR " ~01p FKAW 11~ e O,....... Ib.... arp• • FtQIDWAY "4P r• i'ce' I-- , • Exhibit J Water Improvements • E 0 I,- • Exhibit K Wastewater Improvements • • r~ ~°~~~1~~ a~s.~ • Exhibit L Tentative Land Use Map ~J is o3~ a lolp r r 110L.2L.-PARE. a c4-1 COLLEGE - MAIN It i il COLLEGE STATION, TEXAS ~1 • Exhibit,M Estimated Captured Value and Funding Analysis • E 608 0 EXHIBIT M CttY QI Conego SOAGM COnferwws CMOSr nF FundWo AnatIM etnaaaa .+,m0.®~.n.~. i.. E~ 8-ft w+ wa ws n. w• wf m w. wf w« ttu nu Atl Atl Aw Atl AM Rw A> t>Ow~la.« Aw RM Rtt Ra AO wu w« R« Ra ttu ww m. nu w« ns ns iYQMI f 6saaa AM A. Rw R« A> A> R> tM.t'Qw..Mr- ttwgfm O1>wb QtrO ttOgOb OwllwM.wrl s.Y l~tft fwwi.aY ttn t - t t .fay • wxwe t tlttlt s wtaw t r,O ar w.~rsr.w - - m %sum MAMA W tMM s sash i ~ t ~ t .nt> t ataw f s0.tn. t afss ! aws.. 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WA- -OLM tgaw I.LM tads *3"" >Kapp m.a« ta0.a« aa« - aw m e taw asa~4® tttW a.iQaw ttaas tfrftw.. lido O amaam aaf.UM Quid nth wwe a%= =LM wan nm fora. ataaaa wane ]latgwe wtw A-Aw .4- atfaaw ukm iaa4.m 5 aamaem A-CUM Q%= tsta aaaa.w afagm. tatm ataaoa amain s.aaao a~ Ma sssQ arts nm R0 ek" M42 r0 tR.m aim NAM Am e ~ wtw ffm -am "An Qt>sw«.a~a aQam. t0.wQwe t0.maaw wwgea a wwws sum Ptah a--= >aaem taaaam w ~ to UN +eaoaw .maao - - w k - - - ft" RAW sas saw atuw s w att.. ttm haw sl~ tlaw ssm : : - - - o a tin - - - sum - sum uAn - MAW - stew - aaw uaw - _ - _ - - ■ta«.so>r.r. - - ♦ae0.0w tfraae SSAOMW >Awaa wfaam ROWAN fftaa. waaQme .aanao a - - 'i - ; sk WAS wtm haw. WAS f 2MM snm s>aw W.aw OWN n taaa +aaaaa waaatl !ww tw/sgm. twtmae MAX SWAM aw-00 wama® xQaa® tmmam. tptmpe Q a at> tn>f tatsw MM fswf aaaf salty aN.w ata11Q sawn at MAW a.~ NAM i Cm gm &RAM tm .iao a 1 wa maim t.rrtrr. fwwwrwwt - mtrftm wiskax wawiam syaa. f. t.aM . fr b...--dww . w.>Qa. nLSaea Mok m taac0.ae Uk w= «aw.w0 +aamm atataam waafaae .aatta.et tt••-^-- tgatagQ samaa. (.atffftrb Qam Q.wl .1wa Oath as- af«t asw. tu. Q.w eli/ = afw ash aswt 6tat1 QM4 . aao aa.v form Qaaa aaw Q fm oat9 a- aair newt wa wa .7ael eats Path Qawa Qatp _ .s aam aaow ae.tr > n t f n,wq.oo t:wa w awa win f+a>71. • Exhibit N Project Cost Estimates Construction $ 102027,003 Site Development $ 2,567,835 Land/closing costs $ 103,000 Furniture, Fixtures, & $ 2,372,037 equipment Professional Services $ 1,236,350 Other* $ 344,560 , Contingency $ 1,349,215 Total Project Budget $ 18,000,000 *Construction project manager, testing, general and admix, pre-opening • costs • ..3j - ' 70 0 FIRST AMENDMENT TO AGREEMENT FOR DEVELOPMENT AND TAX ABATEMENT IN REINVESTMENT ZONE NUMBER 12 FOR COMMERCIAL TAX ABATEMENT, BRAZOS COUNTY, TEXAS This First Amendment to Agreement for Development and Tax Abatement in Reinvestment Zone Number 12 for Commercial Tax Abatement, Brazos County, Texas (called "First Amendment') is executed to be effective this j'. k day of TRa u #,e y 2002, by and between BRAZOS COUNTY, TEXAS (herein "COUNTY') and BETCO, INC., a Delaware corporation (herein "OWNER") and is intended to amend that certain Agreement for Development and Tax Abatement in Reinvestment Zone Number 12 for Commercial Tax Abatement, Brazos County, Texas, dated December 14, 1999 (the "Agreement"). WHEREAS, the Agreement required OWNER to employ at least 24 full-time employees with a gross annual payroll in Bryan, Texas of at least $1,380,000.00 by the end of the 12a' month of operation; and and and WHEREAS, OWNER has achieved and maintained the required number of employees; WHEREAS, OWNER has reached only 57.2% compliance with its payroll requirements; WHEREAS, failure to obtain 100% compliance with the payroll requirement is a default pursuant to the terms of the Agreement; and WHEREAS, OWNER has requested the COUNTY to alter its remedy for default pursuant to the Agreement; and WHEREAS, the COUNTY has agreed to alter its contractual remedies in a very limited manner. NOW KNOW ALL MEN BY THESE PRESENTS, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: I . The remedy for failure to attain the payroll requirements as set forth in Paragraph 13 of the Agreement, the same being payment of the taxes due in full for the year in which the default occurs or termination is hereby altered to permit a partial tax abatement. 2. OWNER is hereby granted a partial tax abatement for the 2001 tax year only. 3. OWNER shall repay the 2001 abated taxes in an amount equal to 42.8% x the total taxes abated. 4. OWNER shall pay these taxes in accordance with the Texas Property Tax Code upon issuance by the Tax Assessor/Collector of a corrected tax bill. • 5. Should OWNER default in future years as set forth in Paragraph 13 of the Agreement, the COUNTY, in addition to all other remedies to which it is entitled, shall be permitted to recapture those 2001 taxes that have been partially abated hereunder." Except as expressly amended hereby, all the terms and provisions of the Agreement shall remain in full force and effect as originally written. 0 P. • BRAZOS COUNTY, TEXAS By: Alvin T. Jones, Co y Judge Executed on: -4- _ ZS 0 2_ ATTEST: Co ty Clerk BETCO, INC., a Delaware corporation By: %_,qaA&L M.&L ~i, its ' Sj/t4,ron i~'I C,Fo Executed on: ATTEST: • SECOND AMENDED AND RESTATED AGREEMENT FOR DEVELOPMENT AND TAX ABATEMENT IN REINVESTMENT ZONE NUMBER TWELVE (12) FOR COMMERCIAL TAX ABATEMENT, BRAZOS COUNTY, TEXAS STATE OF TEXAS § § COUNTY OF BRAZOS § This Second Amended and Restated Agreement for Development and Tax Abatement in Reinvestment Zone Twelve (12), (the "Agreement") is entered into by and between BRAZOS COUNTY, TEXAS, a political subdivision of the State of Texas, acting herein by and through its duly elected Commissioners Court, (hereinafter referred to as "COUNTY'I, and BETCO, INC., a Delaware corporation that is duly qualified to conduct business in Texas, (hereinafter referred to as "OWNER") acting herein by and through its duly authorized agents. This Agreement amends, restates, and superredes a previous Agreement dated December 14, 1999. WITNESSETH: WHEREAS, the Commissioners Court of BRAZOS COUNTY, Texas, on the 260' day of October, 1999 by ordinance, established Reinvestment Zone Number Twelve (12) for Commercial Tax Abatement, Brazos County, Texas (hereinafter referred to as "Zone") as authorized by CHAPTER 312, TExAs TAx CODE. WHEREAS, in order to provide for the proper development of such property and to aid in the conduct of the operation thereof in the best interest of Brazos County, Texas, in accordance with the above-referenced ordinance and statute, the parties do mutually agree as follows: 1. This Agreement provides for the partial abatement of ad valorem taxes on real property, Block 2, Lot 1, Bryan Business Park, in Brazos County, as well as certain improvements, personal property and equipment that will be situated thereon. The real property and the improvements constructed thereon will be hereinafter referred to as "the Premises". 2. All of the following obligations of OWNER form the consideration for COUNTY entering into this Agreement: a. OWNER's construction of at least 40,000 gross square feet of BETCO, Inc. Tax Abatement Agreement 2002 1 31 13 I u building space for a manufacturing/assembly/shipping/receiving plant on the Premises, as generally described by listing or by site plan on Exhibit "A" to this Agreement, on or before December 31, 2000; b. OWNER's commitment to add at least $2,000,000 in equipment and personal property, to the Premises on or before December 31, 2003. A listing of the equipment and personal property Owner presently intends to add is listed in Exhibit "B", but such equipment and personal property may change in kind and character so long as the aggregate valuation meets or exceeds the $2,000,000.00 commitment set forth above; c. Owner's attainment of the minimum employment levels and payrolls set forth in Section 13 of this Agreement and Owner's maintenance of at least 84 full time equivalent employees with a gross annual payroll of at least $2,688,000 by the end of the fifth year of operation of the manufacturing facility on the Premises. If OWNER fails to make the improvements called for in 2.a. and 2.b. above, then the COUNTY shall recapture any tax revenue lost, if any, as required by Texas Property Code Section 312.205(a)(4). 3. OWNER agrees to construct all improvements in accordance with all applicable laws, ordinances, codes, rules, requirements or regulations of the City of Bryan, Brazos County, the State of Texas, and the United States, and any subdivision, agency or authority thereof in effect at the time of development. 4. OWNER agrees that the site plan, exterior design drawings, specifications and C~ materials (hereinafter referrers to as "Plans") for each improvement will be submitted to COUNTY, and/or its designated representative, for approval with such approval to not be unreasonably withheld. After approval, such Plans will be considered incorporated herein for all purposes. An official set of Plans will be designated by the OWNER and kept on file with the COUN'T'Y. 5. OWNER shall keep the Premises insured against loss or damage by fire or any other reasonably foreseeable casualty at full replacement value, as reasonably determined by OWNER, by purchasing insurance or through a self-insurance program. OWNER shall furnish BEMO, Inc. Tax Abatement Agreement 2002 2 Is the BRAZOS COUNTY's Risk Manager with either a certificate of insurance or satisfactory documentation of its self-insurance program. 6. OWNER shall submit written notice to COUNTY within ninety (90) days after the Premises are materially damaged by fire or any other casualty. The notice shall either set forth the dates OWNER will commence and complete the repair, remodeling or renovation of the damaged Premises or state that OWNER will not undertake such repair, remodeling or renovation. If OWNER notifies COUNTY that it will not undertake repair, remodeling or renovation of the damaged Premises, an event of default occurs and the provisions of paragraph 13 shall apply. If OWNER elects to repair, remodel or renovate the Premises following such material damage, then this Agreement shall continue and owner will not be in default so long as OWNER commences to repair, remodel or renovate the Premises within ninety (90) days of notice to the COUNTY and continues such repair, remodel or renovation without cessation of more than ninety (90) consecutive days. 7. OWNER agrees to provide COUNTY and its designees reasonable access to the Premises during regular business hours throughout the term of this Agreement for the purposes of inspection and examination of books, records, construction, workmanship, materials, and installations to determine that OWNER has complied with any requirement of this Agreement. COUNTY shall, to the maximum extent permitted by law, indemnify, hold harmless and defend OWNER, its employees, shareholders, and agents from and against any and all obligations, claims, suits, demands and liability or alleged liability, including costs of suit, attorney's fees, r damages, judgments, or settlements and related expenses arising in any manner from COUNTY's entry upon and inspection of the Premises, provided, however, that COUNTY shall not be required to indemnify and hold OWNER harmless for injury or harm caused by OWNER's gross negligence or willful misconduct.. 8. OWNER agrees to use reasonable efforts to manage and operate the Premises in accordance with prudent manufacturing practices and to limit the use of the Premises consistent BETCO, Inc. Tax Abatement Agrcemcw 2002 3 9- with the general purpose of encouraging development or redevelopment within Reinvestment Zone No. 12 while partial abatement of ad valorem taxes is in effect pursuant to this Agreement. 9. OWNER represents and warrants that no member of the Brazos County Commissioners Court has an interest in the Premises and that the same are not owned or leased by any member of the Commissioners Court. 10. OWNER agrees that COUNTY assumes no liability or responsibility by approving plans, issuing building permits or making inspections in the event there is a defect in the improvements constructed on the Premises. The relationship between COUNTY, OWNER, and any taxing unit shall not be deemed to be a partnership or joint venture for purposes of this Agreement. 11. OWNER shall indemnify, hold harmless and defend COUNTY, its employees, officials, and agents from and against any and all obligations, claims, suits, demands and liability or alleged liability, including costs of suit, attorney's fees, damages, judgments, or settlements and related expenses arising in any manner from OWNER's construction, use and operation of the Premises, provided, however, that OWNER shall not be required to indemnify and hold COUNTY harmless for injury or harm caused by COUNTY's negligence or willful misconduct. 12. OWNER agrees to pay all validly assessed and finally determined ad valorem taxes and assessments (except as abated pursuant to this Agreement or otherwise exempt) owed to COUNTY prior to such taxes and/or assessments becoming delinquent. OWNER shall have the right to contest in good faith the validity or application of any such tax or assessment and shall not be considered in default hereunder so long as such contest is diligently pursued to completion. In the event that OWNER contests such tax or assessment, the amount of the uncontested taxes and assessments shall be promptly paid to COUNTY prior to delinquency. If OWNER undertakes any such contest, it shall notify COUNTY and keep COUNTY apprised of the status of such contest. Should OWNER be unsuccessful in any such contest, OWNER shall BEMO, Inc. Tax Abatement Agent 2002 4 promptly pay all validly assessed and finally determined taxes, penalties and interest resulting therefrom. 13. OWNER agrees that a default occurs if. (i) OWNER fails to make the improvements set forth in Section 2.a. and 2.b. above; (ii) OWNER does not maintain the Premises in good condition, wear and tear excepted; (iii) OWNER fails to repair, remodel or renovate any material damage or destruction of the Premises as provided for in Section 6 above after having elected to repair, remodel or renovate any material damage or destruction of the Premises as provided for in Section 6 above; (iv) OWNER fails to use the Premises for the purposes contemplated by this Agreement or allows the same to become vacant; (v) OWNER does not pay all non-abated taxes in the manner required by Section 12 hereof; (vi) OWNER fails to employ at least 24 full-time equivalent employees on the Premises with a gross annual payroll in Brazos County, Texas of at least $790,000 by the end of the 12th month of operation of the manufacturing facility on the Premises; (vii) OWNER fails to employ at least 36 full-time equivalent employees on the Premises with a gross annual payroll in Brazos County, Texas of at least $1,152,000 by the end of the 24t' month of operation of the manufacturing facility on the Premises; (viii) OWNER fails to employ at least 53 full-time equivalent employees on the Premises with a gross annual payroll in Brazos County, Texas of at least $1,696,000 by the end of the 36th month of operation of the manufacturing facility on the Premises; (ix) OWNER fails to employ at least 69 full-time equivalent employees on the Premises with a gross annual payroll in Brazos County, Texas of at least $2,208,000 by the end of the 48th month of operation of the manufacturing facility on the Premises; (x) OWNER fails to employ at least 84 full-time equivalent employees on the Premises with a gross annual payroll in Brazos County, Texas of at least $2,688,000 by the end of the 60m month of operation of the manufacturing facility on the Premises and maintain at least that employment and payroll level throughout the remainder of the term of this Agreement; (xi) OWNER fails to comply with all materially applicable statutes, administrative regulations, or ordinances of the United States, the State of Texas, the City of BETCO, Inc Tax Abatement Agreement 2002 5 r • Bryan, and or BRAZOS COUNTY governing the operations or maintenance of the Premises or the conduct of OWNER's business in Brazos County, Texas. COUNTY shall notify OWNER in writing of such default, and OWNER shall have thirty (30) days after receipt of such written notice, to cure any default, if the default can be cured. If OWNER fails within such notice period to cure such default, or if OWNER's default can not be cured, COUNTY may, at COUNTY's sole option require OWNER to repay the current year's tax abatement on a prorated basis or COUNTY may terminate this Agreement. The remedies provided in this paragraph shall be in addition to any other remedies that COUNTY may have, both legal and equitable. Example - Gross Payroll Default: Gross Payroll Target: $2,208,000 Actual Gross Payroll: $1,208,000 $2,208,000 - $1,208,000 = $1,000,000 $1,000,000 divided by $2,208,000 =.45 x 100 = 45% 45% x dollar amount of taxes abated for current year = amount of repayment 14. OWNER agrees to submit to COUNTY, and to each taxing unit in whose jurisdiction the Premises are situated, and from whom OWNER is receiving an abatement, no later than December 31, 1999 and on December 31St of each year thereafter during the term hereof, a Statement of Compliance in the form attached hereto as Exhibit "C" indicating that OWNER has or has not completed the improvements on the PREMISES in accordance with the Plans or revised plans and further indicating that OWNER has or has not complied with each applicable provision of this Agreement. 15. This Agreement shall be for an abatement term of eight tax/calendar years, unless 9 sooner terminated. The partial exemption from ad valorem taxation of the real property, personal property and equipment during each tax year covered by this Agreement shall be computed by taking a percentage of the increase in value of said real property, personal property and BETCO, Inc Tax Abatement Agreement 2002 6 31 - a7.8 equipment on January I" of each tax year over the value on January 1 n of 1999, which is the year this Agreement was executed by OWNER and COUNTY. The partial exemption percentages are as follows: Tax Year Percentage of Increased Value over January 1. 1999 Value to be Abated 1999 0% 2000 0% 2001 95% 2002 95% 2003 95% 2004 95% 2005 75% 2006 30% 2007 20% For purposes of this Section, the personal property and equipment to be abated had a value of $0.00 on January 1, 1999 because it was not situated on the Premises on that date. The real property had a value of $60,480 on January 1, 1999 according to the Brazos County Appraisal District's certified tax roll for the 1999 tax year. 16. Miscellaneous. a. Severability. If any provision of this Agreement is held to be illegal, invalid or unenforceable under present or future laws effective while this Agreement is in effect, such provision shall be automatically deleted from this Agreement and the legality, validity and enforceability of the remaining provisions of this Agreement shall not be affected thereby, and in lieu of such deleted provision, there shall be added as part of this Agreement a provision that is legal, valid and enforceable and that is as similar as possible in terms and substance as possible to the deleted provision. b. Texas law to apply. This Agreement shall be construed under and in accordance with the laws of the State of Texas and the obligations of the parties created hereunder BMO. Inc Tax Abatement Apvcmcnt 2002 7 L , 1 a-7 9 • are performable by the parties in Brazos County, Texas. Venue for any litigation arising under this Agreement shall be in a court of appropriate jurisdiction in Brazos County, Texas. C. Sole Agreement. This Agreement constitutes the sole and only Agreement of the Parties hereto respecting the subject matter covered by this Agreement, and supersedes any prior understandings or written or oral agreements between the parties. d. Amendments. No amendment, modification or alteration of the terms hereof shall be binding unless the same shall be in writing and dated subsequent to the date hereof and • duly executed by the parties hereto. Any proposed amendment, modification or alteration shall be provided to the City of Bryan and to the Bryan Independent School District for review and comment prior to adoption by the Commissioners Court. e. Rights and Remedies Cumulative. The rights and remedies provided by this Agreement are cumulative and the use of any one right or remedy by either party shall not preclude or waive its right to use any and all other legal remedies. Said rights and remedies are provided in addition to any other rights the parties may have by law, statute, ordinance or otherwise. f. No Waiver. COUNTY's failure to take action to enforce this Agreement in the event of OWNER's default or breach of any covenant, condition, or stipulation herein on one occasion shall not be treated as a waiver and shall not prevent COUNTY from taking action to enforce this Agreement on subsequent occasions. g. Assignment. OWNER shall not assign this Agreement without the written approval of the Commissioners Court, such approval to not be unreasonably withheld. If OWNER assigns this Agreement without written approval of the Commissioners Court, BErCO,1=. Tax Abaumaot Awc=art 2002 8 0 this Agreement shall terminate immediately and the partial abatement of taxes on personal property and equipment provided for herein shall cease from the date such unauthorized assignment occurred. h. Notices. COUNTY and OWNER hereby designate the following individuals to receive any notices required to be submitted pursuant to the terms of this Agreement: COUNTY BRAZOS COUNTY Al Jones, County Judge Brazos County Courthouse 300 E. 26`s Street, #114 Bryan, Texas 77803 OWNER BETCO, INC. P.O. Box 1650 Statesville, N.C. 28687 Telephone (704) 872-2999 Facsimile (704) 872-3099 With a copy to: BETCO, Inc. Attn: Mr. Sam Sabri 501 Wando Park Blvd., Ste. 110 Mt. Pleasant, S.C. 29464 Telephone (843) 849-0779 Facsimile (843) 849-7833 CITY OF BRYAN BRYAN INDEPENDENT SCHOOL DISTRICT P.O. Box 1000 Tommy Ramirez, President - Board of Trustees Bryan, Texas 77805 c/o Herman Smith, Superintendent 101 N. Texas Avenue Bryan, Texas 77803 The parties hereto have executed this Agreement in duplicate originals, each of equal dignity. Each party has stated the execution date below the signature of its authorized representative. If the parties sign this Agreement on different dates, the later date shall be the effective date of this Agreement for all purposes. Mr,0, Inc. Tax Abatement Ag aine t 2002 9 • • • ATTEST: L aren McQueen, Coun lerk ATTEST: -&Jb-u, ma,,(~- BETCO, Inc. Tax Abalament ng "ment 2002 10 BRAZOS COUNTY Alvin . JonJs, o Judge Executed on: ¢ - BETCO, INC. BY-6 Sharon Murdock, its Executed on: ~f C~ EXHIBIT "A" SITE PLAN A 40,000 square foot building at an approximate cost for building and improvements of $2,000,000.00 BETCO, Inc. Tax Aba=x=Agreemeentt 2002 11 1 EXHIBIT "B" C.t+IW lrp.nmturaa, 13T YGAA 2N O Yf-AR 3RD YEAR 4771 YeAft 5TH YEAK 2 Air C.Orrwrrrrs6rs 18000 344.7 17306.`0 st+..r 130000 , Tr+w 209090 200WO FOAL Trtrd. VOW ' CHC w40 L-Gau rAO.d 300000 CHC 1amd.r 200004 TS414 flex rr.4.6 $000 5000 5= 7000 1 Tab(. SOW *a 11600 21600 21600 2160o e chop saw 300 koa WWLW 10000 w1wer 7300 Chop Saw Vacwn 3co Tabor Carta 3900 am 3600 law 1000 aarc d. Pwadrr 2300 Trani Anri Fork Trod. 23000 FOkWV Parrs 110000 120000 Y04 Fuck ooc0 Table 91600 10000 10400 10000 Chopsew 410* Oust cabeow 330 T.bW Caro 3800 as 2700 SOO 900 ..rood. n..a.r 2500 K44porrn Arena PjA Form ItlrtAln. 273000 ] 19 TOGF4V 100000 23,0 Yo6Srp 100000 Z24 TOOftnO 100000 FOM Truth 23000 r;-W Ehssr ZZOO c Hoot 0000 =s*a 1600 - a+.ai. : so0 S.nd.r: 1230 RealAuck3 :130 an 4000 3000 760 2230 7000 saro63r lt..d.r 2504 jWWn0 Area Fork 7rvt3L 23000 2J000 23000 C Ha k Nam s0ft*d.r sar 2$OO 3&W9 1l00 elandan 1130 L*4649 ]dCOO b0fCoda P40dor $000 c O.n.ral Oflfc. CoetiptRaf 62300 K 7300 3000 O 2300 ZSW MM-W Q 3o(lrrsrr 4000 low 30000 2000 , 2000': • Ow da PMW wr* prWor F+.rrik+r. = +0 ZSco 1400 • 1440 • rlct: 7600 3 w 0 am" @ 112W 1200 2900 3600 2600 MZM us.rs O 64600 ti is,OO 8700 Saco 4000 4000 rWn. Cs.a. 3-400 rrv)etl M9TC TrwJu 323000.6 4pg70 23000 40000 46000 23M Oft e firr*AW $2000/07! 11= 20 5600 2600 sm Carrt]uWa 929f00 a 2300 2503 2600 2SOO ZSOJ t-.aar rontar 1.00 "W NNS a ssaoo O O 8tnt4w.m. Office 13400 4600 4600 C-470WOr7 52000 as H.rt CWTVuLaft 8 sma 0 9000 12009 9000 0000 %Wo ec's 14rnfure 6260W6c 3000 8400 2600 0 PmW 6400 6[00 6,400 2400 Pkdw 1400 4500 as M" e 4409 4 Pr +i@ tan Ohl- 000 3400 10004 12 0 EXHIBIT "C" STATEMENT OF COMPLIANCE WITH AGREEMENT FOR COMMERCIAL - INDUSTRIAL TAX ABATEMENT WITH BETCO. INC.. IN CITY OF BRYAN REINVESTMENT ZONE TWELVE THE STATE OF TEXAS § COUNTY OF BRAZOS § BETCO, INC., and ("Owner") hereby certifies any improvements on the Property, as called for in the above-referenced Agreement, have been completed and constructed in every material respect pursuant to said Agreement. Owner finther certifies that it has complied with every applicable material term of said Agreement. Signed this 5M day of 20PL. BETCO, INC. By: J 1' ?,&L Its: 6W Any above described improvements have been accepted by the Brazos County, Texas as having been constructed in compliance with the above-referenced Agreement, and that pursuant to said Agreement the partial exemption from taxation shall commence on January 1, 2000, continuing through the year 2007, which will be the last year that the property will be entitled to exemption from taxation in accordance with this Agreement, and that the taxable value of the Premises for such period of time shall be the taxable value as finally determined, following any applicable contests and appeals, by the Brazos County Appraisal District on January V' of each year of the term of the Agreement. Signed this day of , 20, ATTEST: BRAZOS COUNTY, TEXAS Karen McQueen, County Clerk Al Jones, County Judge BEX0. Inc. Tax Abatement AgeemeW 2002 13 31 • COUNTY OF BRAZOS STATE OF TEXAS RESOLUTION Whereas Cedar Creek Lodge No. 300, A.F. & A.M. is an intergral part of this county and community; and Whereas Cedar Creek Lodge No. 300, A.F. & A.M. has incorporated in its Bylaws a requirement to perform Charitable Work and Public Service; and Whereas this Lodge and its Members have supported, and continue to support such great Masonic Charities, as the Texas Scottish Rite Hospital for Children; the Shriner's Hospitals for Children; the Shriner's Burn Institutes; the Masonic Home and School for Children, the Texas Masonic Retirement Center; the Eastern Star Home for the Elderly; the Scottish Rite • Dormitory for Girls in Austin; the Language Learning Center of the Brazos Valley; public schools week; drug awareness programs; the Kurten Community Center; the Still Creek Ranch; local outstanding citizen recognitions; blood drives; highway safety rest stops on holidays; numerous other worthy causes; and Whereas these and other charitable works benefit citizens across the State of Texas as well as our own community, Now therefore, be it resolved, that the Commissioners Court of Brazos County does hereby support Cedar Creek Lodge No. 300, A.F. & A.M. in its application for exemption from Ad Valorem taxation and recommend the Brazos County Appraisal District grant such exemption. PASSED this 2P V day of , 2002, at a regular meeting of the Commissioners Cour of Brazos County, there being a quorum present by _ t' yeas and ,Q nays and approved by the County Judge on the date above set out. APPROVED: 1 ATTEST: C my Judg C ~ ~Y~, G Z,: ~ ~ , -;0 Secretary or C rk N 0 BR.AZOS COUNTY BRYAN. TEXAS RESOLUTION NO. 2002-007 WHEREAS, Brazos County is one of the fastest growing counties in the State of Texas; and WHEREAS, over 150,000 people have decided to make the Brazos County area their home due to the excellent quality of life made possible by the low cost of living, the ever increasing employment opportunities and the cultural and recreation activities; and WHEREAS, Brazos County, the City of Bryan, the City of College Station and Texas A&M University all share the same transportation goals and objectives for a high speed rail corridor to serve the Brazos Valley region; and WHEREAS, Brazos County is only 92 miles from the growing Houston metropolitan area, 90 miles from Waco, 104 miles from Austin, 166 miles from San Antonio, and 180 miles from Dallas and Fort Worth; and WHEREAS, Brazos County is the home of Texas A&M University which has over 44,000 students and 12,000 employees and is the 4ch largest university in the nation and offers extensive intellectual and cultural advantages to the region and the State; and WHEREAS, Texas A&M University, as one of the largest engineering schools in the nation, attracts students from throughout the State of Texas and the entire United States, as well as from abroad; and WHEREAS, the Brazos Valley region is in the heart of the most populated area of the State of Texas that includes the cities of Austin, Dallas-Fort Worth, Houston and San Antonio; and WHEREAS, this central location is ideal for a new high-speed rail corridor to serve the Brazos Valley in support of the Governor's Trans Texas Corridor plan; and 97 • NOW, THEREFORE, BE IT RESOLVED: THAT the Brazos County Commissioners Court supports the concept to have a fast, efficient and economical high speed passenger rail service to connect the Brazos Valley region to the major metropolitan areas in the State of Texas. THAT Brazos County favors the opportunity to identify a corridor generally running in a northwest to southeast direction through Brazos County and for the continued study by the Texas Department of Transportation in the Governor's Trans Texas Corridor Plan. u THAT this high-speed rail corridor to serve the Brazos Valley Region of the State of Texas should be called the "Brazos Express" Corridor. THAT the Texas Department of Transportation make a recommendation to the Texas Transportation Commission to approve the creation of the Brazos Express Corridor as part of the Trans Texas Corridor Plan. THAT this resolution shall be circulated to interested parties including the Texas Congressional Delegation, the Governor of Texas, members of the Texas Legislature, Texas Transportation Commission, the Texas Department of Transportation, Cities, Counties, Chambers of Commerce, the media and others, and is so accordingly ordered. CONSIDERED AND APPROVED BY BRAZOS COUNTY COMMISSIONERS COURT on this the 23`d day of April, 2002. Alvl*h W. Jones, ounty Judge • To Jones o issioner Prec' ct 1 m. S. Thornton, ommissioner, Precinct 2 a-~44~~ C. B. Jones, mmissioner, Precinct 3 ( ~~f)lf A 1 Cary Cauley, 7*1 Commissioner, reci t 4~ 19 40 BRAZOS COUNTY BRYAN. TEXAS RESOLUTION NO. 2002-008 WHEREAS, Brazos County is one of the fastest growing counties in the State of Texas, centrally located in the most populous area in Central Texas; and WHEREAS, over 150,000 people reside in Brazos County due to the excellent quality of life made possible by the low cost of living, the ever increasing employment opportunities and the cultural and recreation activities; and WHEREAS, Brazos County, the City of Bryan, the City of College Station and Texas A&M University all share the same transportation goals and objectives for a transportation corridor to serve the Brazos Valley region; and WHEREAS, Brazos County is only 92 miles from the growing Houston metropolitan area, 90 miles from Waco, 104 miles from Austin, 166 miles from San Antonio, and 180 miles from Dallas and Fort Worth, but does not have a continuous four-lane divided highway connecting it to the rest of the State; and WHEREAS, Brazos County is the home of Texas A&M University which has over 44,000 students and 12,000 employees and is the 4t' largest university in the nation and which offers extensive intellectual and cultural advantages to the region and the State; and WHEREAS, Texas A&M University, as one of the largest engineering schools in the nation, attracts students from throughout the State of Texas and the entire United States, as well as from abroad; and WHEREAS, the Brazos Valley region is in the heart of the most populated area of the State of Texas that includes the cities of Austin, Dallas-Fort Worth, Houston and San Antonio; and WHEREAS, this central location provides the State of Texas with an ideal opportunity for a new corridor to serve the Brazos Valley in support of the Governor's Trans Texas Corridor plan. u NOW, THEREFORE, BE IT RESOLVED: THAT the Brazos County Commissioners Court supports the concept as presented by Governor Rick Perry for the development and construction of the Trans Texas Corridor. THAT Brazos County desires to have a safe, efficient and economical transportation corridor to connect the Brazos Valley region to the major metropolitan areas in the State of Texas. • THAT Brazos County encourages the Texas Department of Transportation to continue studying, as part of the Governor's Trans Texas Corridor Plan, a transportation corridor generally running in a northwest to southeast direction from IH 35 East through Brazos County to the City of Houston and the Harris County area. THAT the Texas Department of Transportation make a recommendation to the Texas Transportation Commission to approve the creation of this transportation corridor and to further study the positive aspects of this corridor as part of the Trans Texas Corridor Plan. THAT the State Legislature fund the Texas Mobility Fund and support the Texas Congressional Delegation in the reauthorization of TEA-21 to provide the necessary transportation funding necessary to fund the States' existing transportation funding shortfalls and the proposed Trans Texas Corridor Plan THAT this resolution shall be circulated to interested parties including the Texas Congressional Delegation, the Governor of Texas, members of the Texas Legislature, Texas Transportation Commission, Texas Department of Transportation, Cities, Counties, Chambers of Commerce, the media and others, and is so accordingly ordered. • vin W. Jones, County Judge CONSIDERED AND APPROVED BY BRAZOS COUNTY COMMISSIONERS COURT this 23rd day of April, 2002. T on mmissioner, Precinct 1 m. S. Thornton, Commissioner, Precinct 2 CQ C. B. Jones, C issioner, Precinct 3 AP -11&-4 4 ey Caule , Jr., Commission , Pre t 4 ' : a q~