From
max
Title
Resolution accepting the TIF Board Reccomendation and authorizing the City Manager to amend the Economic Development Agreement with CHI-Wildlife Park, L.P. for upsizing the trail system connecting the existing trail at Belt Line to Wildlife Parkway
Presenter
Bill Crolley, Deputy City Manager
Recommended Action
Approve
Analysis
On February 4, 2014 the City Council approved a resolution for an economic development agreement with CHI/Wildlife Park, L.P. Crow Holdings (CHI/Wildlife Park, L.P.) is a developer working with the City to develop approximately 220 acres of land in the flood plain on the west side of Belt Line road across from Lone Star Park. Financial assistance was provided to the developer through participation in Tax Increment Finance District Number One (TIF #1) and a Chapter 380 agreement.
One of the provisions in the agreement included the Developer requirement to construct an 8' trail along the western edge of the property that would connect the existing Ruthe Jackson Trail to Beltline Road to Wildlife Parkway to the West.
After the 2014 Agreement was approved, the Parks Department working with the NCTCOG's request that the trail to be expanded to 12' and be incorporated into the veloweb trail system that will connect Fort Worth to Dallas. The original Developer will still be responsible for their original contribution. The additional TIF funding will be for the additional 4' of concrete, revised alignment to meet NCTCOG standards, landscping and street furniture to be installed by the Parks Department. We anticipate a substantial savings by allowing the Developer have this trail construction and concrete poured as part of their development construciton.
The alignment of the trail is included for your review.
On June 12, 2019 the Board of Directors of City of Grand Prairie Tax Increment Financing District 1 approved the Ruthe Jackson Trail estimated cost of $1,075,000. The project includes an 8,880 LF, 12-foot wide trail from the Belt Line Road bridge at the Trinity River to the future connection at Wildlife Parkway. The trail will be 12-feet wide with 3-foot shoulders and 5-inch thick concrete with steel reinforcement.
The developer has incurred the expense for the engineering design with Halff Associates for the trail with the upsizing.
Staff recommends amending the Economic Development Agreement with CHI/Wildlife Land, L.P. in the amount of $1,075,000.00 for construction of the enhancements to extend the Ruthe Jackson Trail. Any additional funds above the upsizing costs will be used for landscaping and park enhancements around the trail.
Financial Consideration
TIF Funding
Body
A RESOLUTION OF THE CITY OF GRAND PRAIRIE, TEXAS, ACCEPTING THE TIF BOARD RECCOMENDATION AND AUTHORIZING AMENDMENT OF THE ECONOMIC DEVELOPMENT AGREEMENT WITH CHI/Wildlife Land, L.P., a Texas limited partnership (the “Developer”) FOR THE USE OF TAX INCREMENT FUNDS AND CHAPTER 380 FUNDS
WHEREAS, after proper notice, studies and public hearing, the City Council on July 13, 1999, approved Ordinance No. 6095 (“TIF Ordinance”), establishing Tax Increment Financing Reinvestment Zone Number One (the “Zone”), in accordance with the Tax Increment Financing Act, as amended (Chapter 311 of the Texas Tax Code, Vernon’s Texas Codes Annotated, hereinafter called the “Act”), and established a Board of Directors for the Zone, to promote development and redevelopment in the Zone through the use of tax increment financing, which development and redevelopment would not otherwise occur solely through private investment in the reasonably foreseeable future; and
WHEREAS, the Act authorizes the expenditure of funds derived within a reinvestment zone, whether from bond proceeds or other funds (the “TIF Funds”), for the payment of expenditures made or estimated to be made and monetary obligations incurred or estimated to be incurred by a municipality establishing a reinvestment zone, for costs of public works or public improvements in the zone, plus other costs incidental to those expenditures and obligations, consistent with the project plan of the reinvestment zone, which expenditures and monetary obligations constitute project costs, all as defined in the Act (the “Project Costs”; and
WHEREAS, on August 17, 1999, City Council approved Ordinance No. 6122 amending the boundaries of the Zone and approving the final Project Plan and Reinvestment Zone Financing Plan (the “Project Plan”), establishing appropriations to reimburse City for administrative costs, and authorizing the city manager to execute participation agreements with Grand Prairie Independent School District, Dallas County, Dallas County Hospital District and Dallas County Community College District; and
WHEREAS, Developer owns approximately 220 acres of land located within the Zone (the “Property”) upon which it intends to construct a development (the “Development”); and
WHEREAS, Developer desires to construct certain improvements which may consist of the following improvements which may be constructed by Developer and located on the Property: excavation, roads, utilities, environmental remediation, flood control (including wetlands mitigation, floodplain reclamation, drainage facilities and detention ponds), landscaping of public rights-of-way and in public medians, sidewalks, lighting, on-site signalization and way-finding, off and on-site signage, trails, open space, bridges, and other improvements (the “Public Infrastructure Improvements”) on the Property.
WHEREAS, the Public Infrastructure Improvements to be developed on the Property within the Zone, are consistent with promoting development and redevelopment of the Zone in accordance with the purposes for its creation, the Policy for Use of Tax Increment Financing, the ordinance adopted by the City Council approving the Project Plan and the Reinvestment Zone Financing Plan, and the Act; and
WHEREAS, the reimbursement of funds advanced by the Developer for the Project Costs of the Public Infrastructure Improvements is for the purpose of development consistent with and described in the Project Plan; and
WHEREAS, the Development will promote economic development, stimulate business and commerce, create additional employment opportunities and generate tax revenue; and
WHEREAS, City is authorized by Article III, Section 52-A of the Texas Constitution and Chapter 380 of the Texas Local Government Code to establish economic development programs; and
WHEREAS, that the use of public money as set forth in this Agreement is to provide Public Infrastructure Improvements and economic development incentives to Developer to build the Public Infrastructure Improvements such as those in the Development and is not an expenditure of public money to pay for any improvement to develop or serve a subdivision that would be contrary to Article IX, Section 8 of the Grand Prairie City Charter; and
WHEREAS, City has determined that providing economic development set forth herein is an economic development program and will further the public purposes and economic development goals of the City; and
WHEREAS, City Council has determined that the Public Infrastructure Improvements contemplated hereby serve a larger area other than the Property and are consistent with the Master Plan prepared by Developer.
WHEREAS, City Council has determined that the roads shown on the Master Plan (which are part of the Public Infrastructure Improvements being built by Developer and dedicated to the City) serve a larger area than the Property.
WHEREAS, City Council has determined that the flood control work which is shown on the Master Plan (which is part of the Public Infrastructure Improvements being built by the Developer and dedicated to the City) serves a larger area than the Poperty
NOW THEREFORE, BE IT RESOLVED, by the City Council of the City of GRAND PRAIRIE, Texas that:
Section 1. The City Council hereby authorizes the execution of the Amendment to the Economic Development Agreement, providing that the Developer shall provide funding to the City for design, construction, acquisition and related costs of improvements to the Property located within the Zone; and
Section 2. The City Council approves the additional reimbursement of the Developer from the TIF Funds and 380 Funds in an amount up to $1,075,000.00 for funds advanced by Developer for the Public Infrastructure Improvements to the Property; and
SECTION 3. The execution of the amendment to the Developer Agreement is approved and the City Manager is hereby authorized to execute such Development Agreement.
PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF GRAND PRAIRIE, TEXAS, DECEMBER 17TH, 2019.