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OR 2001-969 Designates Reinvestment Zone No.35 ACLP Northlake II LP ORDINANCE NO. 2001-969 AN ORDINANCE OF THE CITY OF COPPELL, TEXAS, DESIGNATING REINVESTMENT ZONE NO. 35; 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 lMPROVEMENTS 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. 35." SECTION 3. That the property within Reinvestment Zone No. 35 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 from 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 9th day of October, 2001. CANDY SHEEHAN, MAYOR- PETER G. SMITH, CITY ATTORNEY LIBBY BALL, CITY SECRETARY -- (PGS/jmh) 2 41294 EXHIBIT "A" DESCRIPTION, of a 8.044 acre tract of land situated in the Cordelia Bowen Survey, Abstract No. 56, Dallas County, Texas; said tract including Lot 1, Block C Northlake 635 Business Park, an addition to the City of Coppell according to the plat recorded in Volume 85056, Page 3358 of the Deed Records of Dallas County, Texas, said tract also also including that same tract of land conveyed to TFS & SONS, LTD. By Special Warranty Deed recorded in Volume 94250, Page 4931 of the Deed Records of Dallas County, Texas; and including part of several tracts of land described in deed to ACLP Northlake L,P, as recorded in Volume 99077 Page 524 of Deed Records of Dallas County, Texas, said 8.044 acre tract being more particularly described as follows: BEGINNING, at a 1/2-inch iron rod found at the southwest end of a right-of-way corner clip at the intersection of the west right-of-way line of Lakeshore Drive (o 60 foot right-of-way) and the north right-of-way line of Crestslde Drive (a 60 foot right-of-way); THENCE, South 5,9 degrees, 23;'mlnutes, 07 seconds West, along the said north right-of-way line Crestelde Drive, a distance of 109.67 feet to a 1/2-inch iron rod found at the beginning of a curve to the right whose center bears North 36 degrees, 36 minutes, 53 seconds West, a distance of 320.00 feet from sold point; THENCE, southwesterly along said north right-of-way line of Crestside Drive, through a central angle of 37 degrees, 06 minutes, 53 seconds an arc distance of 207.29 feet on a chord bearing and distance of South 71 degrees, 56 minutes, 33 seconds West, 203.68 feet to a 1/2-1rich Iron rod found at the end of said curve; THENCE, North 89 degrees, `90 minutes, O0 seconds West, continuing with said north right-of-way line of Crestslde Drive, a distance of 206.60 feet to a 1/2-inch Iron rod found for corner, said point being the southwest corner of said Lot 1, Block C, and being the beginning of a curve to the right whose center bears North O0 degrees, 30 minutes East, a distance of 320.00 feet from said point; THENCE, northwesterly along said north right-of-way line of Crestslde Drive, through a central angle of 90 degrees, O0 minutes, O0 seconds an arc distance of 502.65 feet on a chord bearing and distance of South 44 degrees, ..90 minutes, O0 seconds West, 452.55 feet to a 1/2-inch iron rod found at the end of said curve; THENCE, North O0 degrees, 30 minutes, O0 seconds East, continuing with said east right-of-way line of Crestside Drive, a distance of 234.00 feet to o 1/2-inch iron rod found for corner, said point being the southwest corner of the Essex Wire Addition, recorded in Volume 87189, Page 5.970 of Deed Records of Dallas Count~ THENCE, South 89 degrees. 50 minutes, O0 seconds East, departing said east right-of-way line of Crestside Drive, along the south line of said Essex Wire Addition a distance of ..920.00 feet to a 1/2-Inch Iron rod found for corner, said point being in the west line of a tract of land conveyed to TFS & SONS, LTD. by Special Warranty Deed recorded in Volume 94250, Page 49`91 of the Deed Records of Dallas County, Texas; THENCE, South O0 degrees, 50 minutes, O0 seconds West, a distance of 49.70 feet to o 1/2-1nch iron rod found for corner, said polnt being in the west line of a tract of land conveyed to TFS & SONS, LTD. by Special Warranty Deed recorded in Volume g4250, Page 4951 of the Deed Records of Dallas County, Texas; THENCE, South 89 degrees, 50 minutes, O0 seconds East, o distance of 320.00 feet to a 1/2-inch iron rod found for corner in the said west right-of-way llne of Loksshore Drive, said point being the beginning of a curve to the left whose center bears South 89 degrees, 30 minutes, 05 seconds East, a distance of 380.00 feet from said point; THENCE, southeasterly along said west right-of-way line of Lakeshore Drive, through o central angle of 57 degrees, 06 minutes, 50 seconds an arc distance of 246.15 feet on o chord bearing and distance of South 18 Degrees, 03 minutes, 28 seconds East, 241.87 feet to a 1/2-Inch Iron rod found at the end of said curve; THENCE, South 56 degrees, 36 minutes. 55 seconds East, along the said west right-of-way line of Lakeshore Drive, o distance of 154.24 feet to a 1/2-1nch Iron rod found at the northeast end of said corner cllp; THENCE, South 08 degrees, 2`9 minutes, 07 seconds West, along said corner cllp, a distance of 21.21 feet to the POINT OF BEGINNING; CONTAINING, `950,,990 square feet or 8.044 acres of land more or less. C0PPELL TECH CENTER II Reinvestment Zone #35 and Tax Abatement for ACLP Northlake !1, L.P.