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OR 2002-1018 Reinvestment Zone No. 41 (Coppell Mill/Staples) ORDINANCE NO. 2002-1018 AN ORDINANCE OF THE CITY OF COPPELL, TEXAS, DESIGNATING REINVESTMENT ZONE NO. 41 (COPPELL MILL/STAPLES); PROVIDING ELIGIBILITY OF THE ZONE FOR COMMERCIAL- INDUSTRIAL TAX ABATEMENT; CONTAINING FINDINGS THAT THE AREA QUALIFIES TO BE DESIGNATED AS A REINVESTMENT ZONE AND THE IMPROVEMENTS SOUGHT ARE FEASIBLE AND PRACTICABLE AND OF BENEFIT TO THE LAND AND THE CITY; PROVIDING A SEVERABILITY CLAUSE; PROVIDING A REPEALING CLAUSE; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the City Council of the City of Coppell, Texas, has caused notice to be published in a newspaper having general circulation in the City and has delivered such notice to the presiding officer of the governing body of each taxing unit that includes in its boundaries real property described herein; and WHEREAS, the City Council of the City of Coppell, Texas, has conducted a public hearing on the designation of the area described herein as a reinvestment zone; NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF COPPELL, DALLAS COUNTY, TEXAS THAT: SECTION 1: That the City Council of the City of Coppell, Texas finds that the area described herein will, if designated as a reinvestment zone, be reasonably likely to contribute to the retention or expansion of primary employment, or to attract major investment in the zone that will be of benefit to the property and contribute to the economic development of the City. The City Council further finds that the improvements sought are feasible and practicable and would be of benefit to the land to be included in the zone and to the City after the expiration of a tax abatement agreement. SECTION 2. That pursuant to the provisions of Section 312.201 of the Texas Tax Code, the property described in Exhibit "A" attached hereto and made a part hereof for all purposes is hereby designated as a reinvestment zone and for identification is assigned the name "Reinvestment Zone No. 41 (Coppell Mill/Staples)." SECTION3. That the property within Reinvestment Zone No. 41 is eligible for commercial-industrial tax abatement effective on January 1, 2002 SECTION 4. If any article, paragraph or subdivision, clause or provision of this ordinance shall be adjudged invalid or held unconstitutional, the same shall not affect the validity of this ordinance as a whole or any part or provision thereof, other than the part so decided to be invalid or unconstitutional. SECTION 5. That all provisions of ordinances of the City of Coppell, Texas, in conflict with the provisions of this ordinance be, and the same are hereby, repealed, and all other provisions not in conflict with the provisions of this ordinance shall remain in full force and effect. SECTION 6. This ordinance shall take effect immediately fi.om and after its passage, as the law and charter in such cases provide. DULY PASSED by the City Council of the City of Coppell, Texas, on the ~, ~'~day of ~ ,2002. .,~ITY ATTORNEY R~'-BER"[' E."H~GE (PGS/ev/ttl 10/07/02) CANDY SHEEHAN, MAYOR ATTEST: LIBBY BALL, CITY SECRETARY 2 43796 E.X.~[IBIT A Land The approximately 17.91 acre tract located on the northern portion of Lot lA as shown on the Plat recorded February 8, 2002 in Volume 2002027, Page 00071 of the real property records of Dallas County, Texas, to be replatted as shown in Exhibit A-1 attached hereto and more particularly described as follows: BEING a tract of land situated in the Jesse Moore Survey, Abstract No. 968 in the City of Coppell, Dallas County, Iexas, being a portion of Lot 1, Block A, Amberpomt Business Park at Coppell, an addition to the City of CoppelI as recorded in Volume 2002027, Page 00071 of the Deed Records of Dallas County, Texas (D.R.D.C.T.), smr~e being part of a tract of land described in Special Warranty, Deed to Amberpoint at Coppell, L.L.C. dated December 21,2001 as recorded in Volume 2001249, Page t 5701, D.R.D.C.T., and part of a tract of land described in Special Warranty Deed to Ballam'yne Jack, L.L.C. dated August31, 200I as r~orded in Volume 2001173, Page 3803, D.R.D.C.T., and being more particularly described as follows: BEGIN2q'ING at a V:-inch set iron rod with a yellow plastic cap stamped "IqakLFF ASSOC INC" (hereinafter referred to as "with cap") for the northeast comer of said Lot I, said comer being at the intersection of the south fight-of-way line of Sandy Lake Road (variable width) with the west right-of-way line of Noffiapoint Drive (60 feet wide); THENCE South 00 degrees 03 minutes 37 seconds West, along said west right-of-way line, a distance of 924.93 feet to a ½-inch found iron rod with cap for comer; THENCE North 89 degrees 56 minutes 23 seconds West, departing said west right-of-way line, a distance of 842.53 feet to a ½-inch found iron rod with cap for comer, said comer being on the common line bem'een the west line of said Lot 1 and the east line of Four Seasons Addition, an addition to the City of Coppell, as recorded in Volume 91139, Page 2187, D.R.D.C.T.; THENCE North 00 degrees 07 minutes 49 seconds East, along said common line, a distance of 927.94 feet to a inch set iron rod ~5th cap for the northwest comer of said Lot 1, said comer being on the south right-of-way line of Sandy Lake Road; TI-FENCE South 89 degrees 43 minutes 31 seconds East, departing said common line and along said south right-oS way line, a d/stance of 328.84 feet to a found 10-inch Hackberry Tree for an angle point; THENCE South 89 degrees 44 minutes 26 seconds East, continuing along said south right-of-way line, a distance of 512.56 feet to the POiNT OF BEGINNING AND CON-rAINING 780,000 square feet or 17.91 acres of land, more or less. Exhibit A