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OR 99-864 Designates Reinvestment Zone 25 ORDINANCE NO. 99864 AN ORDINANCE OF THE CITY OF COPPELL, TEXAS, DESIGNATING REINVESTMENT ZONE NO. 25 (CFH-FTAX); 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, TFIEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF COPPE1 ,l ~, 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 p~maW 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 al~er 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 1 SS23795 SECTION 3. That the property within Reinvestment Zone No. 25 is eligible for commercial- industrial tax abatement effective on January 1, 2000. 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 from and atter 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 d/7',(/~ day of f,27,~. zest',._. , 1999. ATTEST: KATHLEEN ROACH, CITY SECRETLY APPROVED AS TO FORM: PETER G. SMITH, CIA~T~~O~Y (PGS/tfl 3/1/99) 2 8823795 EXPLIBIT A LEGAL DESCRIPTION BEING Lot 1 of Freeport North. an addition to the Cib' of Coppell, Dallas County, Texas according to the plat thereof recorded in Volume 96228, Page 3239. Map Records, Dallas County. Texas, and being more partxcularly described by metes and bounds as follows: BEGIN~'ING at a 1/2 inch iron rod with NDM cap found for a comer at the northeast point of a comer clip located along the south right-of-way of Nonhpoint Drive (80 feet wide) and the east right-of-way of Royal Lane ( 100 feet wide); THENCE North 89 degrees 50 minutes 31 seconds East continuing along said south right. of- way, a distance of 373.05 feet to a 1/2 inch iron rod found for a comer on the west line of a tract of land described in deed to .~geles Esteve as recorded in Volume 88246, Page 4209, Deed Records, Dallas County, Texas; THENCE South 00 degrees 36 minutes 38 seconds East along the west line of the Angeles Esteve tract. a distance of 265.18 feet to a 5/8 inch iron rod found for a comer; THENCE South 00 degrees 01 minutes 55 seconds East continuing along the west line of said Angeles Esteve tract, a distance of 281.61 feet to a I/2 inch set iron rod with "Halff Assoc. Inc." cap for a comer at the northeast comer of Lot 3C of Freeport North Addition; THENCE South 89 degrees 58 minutes 05 seconds West, departing said west line and along the north line of said Lot 3C a distance of 729.09 feet to a 1/'4 i~nch set iron rod with "Halff AssOc. Inc." cap at a non-tangent point on a cimular curve to the right whose radius is 950_00 feet, on the east right-of-way of Royal Lane (100 feet wide); THENCE along said curve to the fight and east right-of-way of Royal Lane, through a central angle of 18 degrees 31 minutes 04 seconds, an arc length of 307.04 feet, a chord bearing North 28 degrees 04 minutes 59 seconds East a distance of 305.70 feet to a 1/2 inch iron rod with NDM cap found for a comer at the point of tangency; THENCE North 37 degrees 20 minutes 31 seconds East continuing along said east right-of-way, a distance of 170.92 feet to a 1/'2 inch iron rod with NDM cap found for a point of curvature of a circular curve to the left whose radius is 1050.00 feet; THENCE along said curve to the left and east right-of-way through a centrai angle of 08 degres 18 minutes 38 seconds, an arc length of 152.30 feet, a chord bearing North 33 degrees 11 minutes 12 seconds East a distance of 152.17 feet to a 1/2 inch iron rod with NDM cap found for a comer at the southwest point of a comer clip located along the south right-of-way of Northpoint Drive; THENCE North 59 degrees 13 minutes 48 seconds East, a distance of 25.82 feet to the POINT OF BEGINNING and containing 312,691 square feet or 7.178 acres of land, more or less. EXHIBIT A DAg~IRT0.148