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OR 2002-1005 Reinvestment Zone No. 38 (Amber Point at Coppell, LLC) ORDINANCE NO. 2002-1005 AN ORDINANCE OF THE CITY OF COPPELL, TEXAS, DESIGNATING REINVESTMENT ZONE NO. 38 (AMBER POINT AT COPPELL, LLC); 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. 38 (Amber Point at Coppell, LLC)." SECTION3. That the property within Reinvestment Zone No. 38 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 _~_~_~day of ~:,~--~ ,2002. CAN~Y SHEIH~N, MAYOR ATTEST: LIBBY APPROVED AS TO FORM: PETER G. SMITH, CITY ATTORNEY (PGS/ev 01/23/02) 2 45798 EXHIBIT "A' LEGAL DESCRIPTION AMBERPOENrT BUS~qESS PARK AT COPPELL PHASE 1 EXH2B1T BEff, IG a tract of land out of the Jesse Moore Survey, Abstract No. 968 in the City of Coppell, Dallas County, Texas, and being part of Lot I, Block A ef tI-,e Amberpoint Business Park Addition to the City of Coppell as described in Volume 2002023, PaGe 00071 (D.R.D.C.T.), and being part of a tract of land described in deed to Ballantyne Jack, L.L_C., recorded in Volume 2001173, Page 3803, (D.R.D.C.T.), and being more particularly described as follows: CON~vlENCEN'G at a l/2-inch found iron rod with cap stz'-n~d Brittain & Crawford in the centerline of Northpoint Drive (80 foot right-of-way), sa/d point being the northwest comer of a tract of land described in Special Warranty Deed to the Ciw of Coppell as recorded in Volume 96164, Page 207, D.R.D.C.T., and being in the east line of Fmeport North Addition, an addition to the City of Coppell, as recorded in Volume 84203, Page lS35, D.R.D.C.T.; THENCE North 00 degrees 07 minutes 07 seconds East, dong said east line, a distance of 30.00 feet to a point on a non-tangent circular curve to the left, kaving a radius of 410.16 feet and whose chord bears North 75 degrees 33 minutes 23 seconds Eas:~ a distance of 220.98 feet, said point being on the north right-of-way line of Northpoint Drive ((:0 feet ',vide); THENCE Northeasterly, along said north right-of-way lin~ mad along said circular curve to the left, through a central angle of 31 degrees 15 minutes 17 secon& and an arc distance of 223.74 feet to the point of reverse curvature of a circular curve to the fi?:. having a radius of 480.00 feet and ,,,,'hose chord bears North 68 degrees 41 minutes 11 secen~, East, a distance of 146.16 feet; THENCE Northeasterly, continuing along said north ri ~.'.". .'.-e f-,,vay line and along said circular curve to the right, through a central angle of 1.7 de~ees 30 rrdn::::s 53 seconds and an arc distance of 146.73 feet to the POff4T OF BEG~N%'~"~G; THENCE North 00 degrees 07 minutes 17 seconds East. a:en_ said east line, a distance of 384.27 feet to a 5/8-inch iron rod found for a comer; THENCE North 00 degrees 56 minutes 17 seconds West, dong the east line of said Freeport Nor'da Addition, a distance of 90.42 feet to a I/2-inch iron rod feund for a comer; THENCE North 89 degrees 46 minutes 32 seconds WesT, dong the north line of said Freeport North Addition, a distance of 2.29 feet to a 1/2-inch iron rcd found for the southeast comer of Hager Containers addition, an addition to the City of Co?p¢ll. as recorded in Volume 88206, Page 3786, D.R.D.C.T.; THENCE North 00 degrees 07 minutes 49 seconds East, dong the east line of said Hager Containers Addition, a distance of 326.92 feet, to a point fer a comer; THENCE South 89 degrees 56 minutes 24 seconds East, departing said east line, a distance of 842.54 feet, to a point on the west right-of-way-line of said Northpoint Drive (60 feet wide); THENCE South 00 degrees 03 minutes 37 seconds West, along said west right-of-way line, a distance of 369.74 feet to the point of curvature of a circular curve to the right, having a radius of 420.00 feet and whose chord bears South 45 degrees 02 minutes 07 seconds West, a distance of 593.71 feet; THENCE Southwesterly, along said northwest fight-of-way line and along said circular curve to the right, through a central angle of 89 degrees 57 minutes 00 seconds and an arc distance of 659.37 feet to the point of tangency; TI-~NCE North 89 degrees 59 minutes 23 seconds West, continuing along said north right-of-way line, a distance of 315.43 feet to the point of curvature of a circular curve to the left, having a radius of 480.00 feet and whose chord bears South 83 degrees 43 minutes 37 seconds West, a distance of 105.07 feet; THENCE Southv,'esterly, along said northwest fight-of-way line and along said circular curve to the left, through a central angle of 12 degrees 33 minutes 59 seconds and an arc distance of 105.28 feet to the POINT OF BEGL",,:",TNG ANT) CONTAD,rlNG 626,615 square feet or 14.39 acres of land, more or less.