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Res 14-04 Setting a Public Hearing for the Public Improvement District Entrada TOWN OF WESTLAKE, TEXAS RESOLUTION NO. 14-04 A RESOLUTION SETTING A PUBLIC HEARING UNDER ER SEC. 372.009 OF THE TEXAS LOCAL, GOVERNMENT CODE FOR THE CREATION OF A PUBLIC IMPROVEMENT DIST CT WITHIN THE TOWN OF WESTLAKE, TEXAS; AND AUTHORIZING THE ISSUANCE OF NOTICE BY THE TOWN SECRETARY F WESTLAKE, TEXAS REGARDING THE PUBLIC HEARING WHEREAS, The Town of Westlake, Texas ("Westlake"), is authorized under Chapter 372 of the Texas Local Government Code (the "Act"), to create a public improvement district within its corporate limits; and WHEREAS, on October 18, 2013, Maguire Partners—Solana Land, L.P., a Texas limited partnership, the owner of 8590 acres within the town limits of Westlake (the "Developer"), submitted and filed with the Town Secretary of Westlake a petition ("Petition"), attached as Exhibit A, requesting the establishment of a public improvement district for property within the town limits of Westlake; and WHEREAS, the Town Council of Westlake wishes to hold a public hearing in accordance with Section 372.009 of the Act regarding the establishment of a public improvement district in Westlake in accordance with the Petition; and WHEREAS, in order to hold a public hearing for the creation of a public improvement district, notice must be given in a newspaper of general circulation in the municipality before the 15th day before the date of the hearing, and written notice must be mailed to the current address of each owner, as reflected on the tax rolls, of property that would be subject to assessment under the proposed public improvement district; and WHEREAS, both newspaper notice and mailed notice must contain the information required for notice as provided for in Section 372.009 of the Act; and WHEREAS, the Town Council of Westlake has detennined to hold a public hearing on February 24, 2014 on the creation of a public improvement district; and WHEREAS, the Town Council finds that the passage of this Resolution is in the best interest of the citizens of Westlake. Resolution 14-04 Page 1 of 13 NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL: Section 1: That a public hearing is hereby called for February 24, 2014, at 6:30 p.m. at Westlake Town Hall, 3 Village Circle, Westlake, Texas 76262, for the purpose of hearing public testimony with respect to the creation of a public improvement district. Section 2: At such time and place the Town Council of Westlake will hear testimony regarding the creation of the proposed public improvement district and consider the adoption of a resolution authorizing the creation of the public improvement district. Section 3: Attached hereto as Exhibit A is the Petition for the Creation of a Public Improvement District within the Town of Westlake, Texas for the Westlake Public Improvement District No. 1. Section 4: Attached here to as Exhibit B is a form of the Notice of Public Hearing (the "Notice") the form and substance of which is here by adopted and approved. Section 5: Attached here to as Exhibit C is a legal description and depiction of the 85.90 acres of property to be included in the proposed public improvement district. Section 6: The Town Secretary is hereby authorized and directed to cause said Notice to be published in substantially the form attached hereto, in a newspaper of general circulation in Westlake and to notify any affected landowners within the boundaries of the proposed public improvement district as required by law. The Town Secretary shall provide notice before the 15'11 day before the February 24, 2014 hearing. Section 7: If any portion of this Resolution shall, for any reason, be declared invalid by any court of competent jurisdiction, such invalidity shall not affect the remaining provisions hereof and the Council hereby determines that it would have adopted this Resolution without the invalid provision. Resolution 14-04 Page 2 of 13 Section 8: This resolution shall be in full force and effect from and after its passage, and it is accordingly so resolved. PASSED AND APPROVED N THIS 27"' DAY OF JANUARY, 2014. ATTEST: Laura L. Wheat, Mayor "'. 'u KellEdwa d , Town Secretary Thomas E. Brymef, To n Manager APPROVEDAS TO FORM: A ,-. t F LCanton Lawry, T) wn Attorney Resolution 14-04 Page 3 of 13 EXHI-Brr A PETITION FOR THE CREATION OF A PUBLIC IMPROVEMENT DISTRICT WITHIN THE TOWN OF WESTLAKE,TEXAS,FOR THE WESTLAKE PUBLIC IMPROVEMENT DISTRICT NO.I This petition("Petition")is submitted and filed with the Town Secretary of the Town of Westlake, Texas ("MTestlake"), by Maguire Partners—Solana Land, L-P... a Texas limited partnership (the "Developu") acting pursuant to the provisions of Chapter 372, Texas Local Government Code, as amended (the "Act"), requesting that Westlake create a public improvement district to include property owned by the Developer and located within the city limits of Westlake(the'Trope '),more particularly described by a.metes and bounds description inExhibit A. In support of this petition the Developer would present the following: Section i. General Nature of the Authorized Improvements. The purposes of the District include the design, acquisition, construction, and improvement of public improvement projects authorized by the Act that are necessary for the development of the Property, which public improvements will. include: landscaping, entryway features, water, wastewater, sidewalks, streets, roadways, off-street parking, drainage system improvements, trails, parks and open space; special supplemental services for the improvement and promotion of the district; and payment of expenses incurred in the establishment,administration,and operation of the district. Section 2. Estimated Cost of the Authorized Improvements. The Developer estimates that the cost to design,acquire,and construct the Authorized Improvement-,is$32,000,000.00. Section 3.Boundaries of the Proposed District, The District is proposed to include the Property. Section 4.Proposed Method of Assessment. Westlake shall levy assessments on each parcel within the District in a manner that results in imposing equal shares of the costs on property similarly benefited. All assessments may be paid in full at any time(including interest and debt),and certain assessments may be paid in annual installments (including interest and debt). If an assessment is allowed to be paid in installments,then the installments must be paid in amounts necessary to meet annual costs for those Authorized Improvements financed by the assessment, and must continue for a period necessary to retire the indebtedness of those Authorized Improvements(including interest), Section 5.Proposed the District and Westlake_ Westlakewill not be obligated to provide any funds to finance the Authorized Improvements, other than from assessments levied on the public improvement district property, and possible tax increment reinvestment zone revenue. No municipal property in the public improvement district shall be assessed. Developer may also pay certain Costs of the improvements from other funds available to the Developer. Resolution 14-04 Page 4 of 13 Section 6.Management of the District. The Developer proposes that the District be managed by Westlake,with the assistance of a consultant,who shall, from time to time, advise Westlake regarding certain operations of the District. Section 7._Developer Requests Establishment of the District. The person(s)signing this Petition request the establishment of the District. Section 8. Advisory Board. The Developer proposes that the District be established and managed without the creation of an advisory board. This petition has been signed by (1) the owners of taxable real property representing more than 50 percent of the appraised value of taxable real property liable for assessment under the proposal,as determined by the current roll of the appraisal district in which the property is located;and(2)record owners of real property liable for assessment under the proposal who:(A) constitute more than 50 percent of all record owners of properly that is liable for assessment under the proposal;or(B)own taxable real property that constitutes more than 50 percent of the area of all taxable real property that is liable for assessment under the proposal. This Petition is hereby filed with the Town Secretary of Westlake in support of the creation of the District by the Town Council of Westlake as herein provided. The undersigned request that the Town Council of Westlake grant its consent as above stated. RESPECTFULLY SUBMITTED,on this the_day of October,2013. MAGUIRE PARTNERS—SOLANA LAND,L.P., a Texas limited partnership By: MMM Ventures,LLC,its general partner By: 2M Ventures,LLC,its manager Its: General Partner By-, Date: Mchrdad Moayedi,Manager Resolution 14-04 Page 5 of 13 EXHIBIT A LEGAL DESCRIPTION 85.90 Acres BEING a tract of land situated in the C.M. Throop Survey, Abstract No. 1510. the W. Medlin Survey, Abstract No. 1958,the William Pea Survey, Abstract No. 1246 and the Joseph Henry Survey,Abstract No. 742,Tarrant County,Texas and being a portion of Tract 2 as described in the Special Warranty Deed to MAGUIRE PARTNERS-SOLANA LAND,L.P. as recorded in Volume 16858, Page 176 of the Deed Records of Tarrant County. Texas and being more particularly described as follows: BEGINNING at a 5/8 inch iron rod found with"Huitt-Zollars7'cap at the southwest comer of Lot 2,Block I,Westlak-e/Southlake Park Addition No. 1,an addition to the Town of Westlake,Texas as recorded in Volume 388-214,Page 78 of the Plat Records of Tarrant County,Texas,being on the northeasterly right-of-way line of Kirkwood Boulevard, a variable width right-of-way as dedicated by said Westlake/Southlake Park Addition No. I and being the beginning of a non- tangent curve to the left having a central angle of 9 degrees 13 minutes 11 seconds,a radius of 1428.00 feet and being subtended by a chord which bears North 47 degrees 49 minutes 50 seconds West a distance of 229.54 feet; THENCE along the northeasterly right-of-way line of Kirkwood Boulevard, a variable with right-of-way, as described in Dedication Deed to the Town of Westlake as recorded under instrument No.13208427746,Deed Records of Tarrant County,Texas the following: Along said curve to the left an are distance of 229.79 feet to a V2 inch rod found with Graham cap at the end of said curve; North 52 degrees 30 minutes 14 seconds west a distance of 32.60 feet to 1/2 inch iron rod found with Graham cup beginning of a curve to the right having a central angle of 18 degrees 54 minutes 48 seconds,a radius of 612.00 feet and being subtended by a chord which bears North 43 degrees 02 minutes 03 seconds West a distance of 201.11 feet; Along said curve to the right an arc distance of 202.02 feet to a '/2 inch iron rod found with Graham cap at the beginning of a compound curve to the right having a central angle of 24 C, - - degrees 06 minutes 47 seconds,a radius of 812.00 feet and being subtended by a chord which bears North 21 degrees 32 minutes 031 seconds West a distance of 3139,22 feet; Along said curve to the right an are distance of 341.73 feet to a !/-. inch iron rod found with Graham cap at the end of a said curve; North 09 degrees 28 minutes 39 seconds West a distance of 132.24 feet to a 1/2 inch iron rod found with Graham cap at the beginning of a curve to the left having a central angle of 45 Resolution 14-04 Page 6 of 13 degrees 43 minutes 19 seconds, a radius of 708.00 feet and being subtended by a chord which bears North 32 degrees 20 minutes 19 seconds West a distance of 550.11 feet; Along said curve to the left an arc distance of 564.98 feet to a 1/z inch iron rod found with Graham cap at the end of said curve; North 55 degrees 11 minutes 58 seconds West a distance of 190.50 feet to a 1/ inch iron rod found with Graham cap; North 08 degrees 56 minutes 27 seconds West a distance off 21.41 feet to a % inch iron rod found with Graham cap on the easterly right-of-way line of Precinct Line Road,a variable width right-of-way, as described in Dedication Deed to Town of Westlake as recorded under Instrument No.D208427746,Deed Records of Tarrant County,Texas and being the beginning of a non-tangent curve to the left having a central angle of 16 degrees 09 minutes 21 seconds, a radius of 1,432.50 feet and being subtended by a chord which bears North 27 degrees 07 minutes 42 seconds East a distance of 402.59 fect; THENCE along the easterly right-of-way line of Precinct Line Road,the following; Along said curve to the left an are distance of 403.92 feet to a %z inch iron rod found with Graham cap at the end of said curve.- North urve;North 18 degrees 47 minutes 24 seconds East a distance of 185.36 feet to a'/z inch iron rod found with Graham cap; North 17 degrees 03 minutes 03 seconds East a distance of 322.64 feet to a'/a inch iron rod found on the southerly right-of-way tine of State Highway 114(a variable width ROW); THE, along the southerly right-of-way line of State Highway 114,the following; North 60 degrees 06 minutes 26 seconds East a distance of 44.54 feet to a Texas Department of Transportation brass disk in concrete found; South 71 degrees 03 minutes 32 seconds East a distance of 254.55 feet to a point for corner from which a Texas Department of Transportation brass disk in concrete found bears North 10 degrees 48 minutes 28 seconds West a distance of 0.43 feet; South 77 degrees 26 minutes 06 seconds East a distance of 746.74 feet to a Texas Department of Transportation brass disk in concrete found; South 71 degrees 03 minutes 31 seconds East a distance of 1443.85 feet to a Texas Department of Transportation brass disk in concrete found; South 62 degrees 34 minutes 19 seconds East a distance of 404.34 feet to a Texas Department of Transportation brass disk in concrete found at the beginning of a curve to the right having a Resolution 14-04 Page 7 of 13 central angle of 08 degrees 19 minutes 09 seconds,a radius of 2,709.79 feet and being subtended by a chord which bears South 58 degrees 24 minutes 45 seconds East a distance of 393.11 feet; Bong said curve to the right an are distance of 393.45 feet to a Texas Department of Transportation brass disk in concrete found; South 54 degrees 15 minutes 11 seconds East a distance of 399.24 feet to a Texas Department of Transportation brass disk-in concrete found-, South 64 degrees 19 minutes 50 seconds East a distance of 56.55 feet to a 5/8 inch iron rod found with "Fluitt-Zollars" cap at.the beginning of a -non-tangent curve to the right having a central angle of 02 degrees 13 minutes 56 seconds,a radius of 2,754.79 feet and being subtended by a chord which bears South 43 degrees 17 minutes 37 seconds East a distance of 107.32 feet; Along said curve to the right n are distance of 107.33 feet to a!/2 inch rod found with "Huitt- Zollars" cap for the northeast comer of Lot 1, Block 1, of the aforementioned Westlake/Southlake Park Addition No. 1; THENCE departing the southerly right-of-way line of State Highway 114,North 90 degrees 00 minutes 00 seconds west along the north line of said Lot 1,Block 1,a distance of 2,132.54 feet to a 5/8 inch iron rod with"Carter-Burgess"cap found for the northwest comer of said Lot 2, Block 1,Westlake/Southlake Park Addition No. I-, THENCE South 52 degrees 00 minutes 00 seconds West along the northwesterly line said Lot 2, Block 1, a distance of 1000.00 feet to a 5/8 inch iron rod-,vith"Carter&Burgess"cap found at an angle point in the west line of Lot 2,Block 1; THENCE along the west line of said Lot 2, Block 1, South 00 degrees 00 minutes 00 seconds East a distance of 1.68.55 feet to the POINT OF BEGINNING and containing 85.90 acres of land,more or less. Resolution 14-04 Page 8 of 13 EXHIBIT B TOWN OF WESTLAKE,TEXAS NOTICE OF PUBLIC HEARING REGARDING THE CREATION OF A PUBLIC IMPROVEMENT DISTRICT Pursuant to Section 372.009(c) and (d) of the Texas Local Government Code, as amended (the "Act"), notice is hereby given that the Town Council of the Town of Westlake, Texas ("Westlake"), will hold a public hearing to accept public comments and discuss the petition (the "Petition"), filed by Maguire Partners—Solana Land, L.P. (the "Developer'), requesting that Westlake create a public improvement district(the"District")to include property owned by the Developer. Time and Place of the Hearing. The public hearing will start at 6:30 p.m. February 24, 2014 at Westlake Town Hall, 3 Village Circle, Westlake, Texas 76262. General Nature of the Proposed Authorized Improvements. The purposes of the District include the design, acquisition, construction, and improvement of public improvement projects authorized by the Act that are necessary for the development of the Property, which public improvements will include: landscaping, entryway features, water, wastewater, sidewalks, streets, roadways, off-street parking, drainage system improvements, trails, parks and open space; special supplemental services for the improvement and promotion of the district; and payment of expenses incurred in the establishment, administration, and operation of the district(the"Authorized Improvements.") Estimated Cost of the Authorized IMdrove meats. The estimated cost to design, acquire and construct the Authorized Improvements is $32,000,000. Proposed District Boundaries. The District is proposed to include approximately 85.90 acres of land generally located south of State Highway 114, east of Davis Boulevard, and north of Solana Boulevard, as more particularly described by a metes and bounds description available at Westlake Town Hall and available for public inspection. Proposed Method of Assessment. Westlake shall levy assessments on each parcel within the District in a manner that results in imposing equal shares of the costs on property similarly benefited. All assessments may be paid in full at any time (including interest and debt), and certain assessments may be paid in annual installments (including interest and debt). If an assessment is allowed to be paid in installments, then the installments must be paid in amounts necessary to meet annual costs for those Authorized Improvements financed by the assessment, and must continue for a period necessary to retire the indebtedness of those Authorized Improvements (including interest). Proposed Apportionment of Cost between the District and the Town. Westlake will not be obligated to provide any funds to finance the Authorized Improvements, other than from assessments levied on the public improvement district property, and possible tax *increment reinvestment zone revenue. No municipal property in the public improvement district shall be assessed. Developer may also pay certain costs of the improvements from other funds available to the Developer. Resolution 14-04 Page 9 of 13 EXHIBIT C LEGAL DESCRIPTION 85.90 Acres BEING a tract of land situated in the C.M. Throop Survey, Abstract No. 1510, the W. Medlin Survey, Abstract No. 1958, the William Pea Survey, Abstract No. 1246 and the Joseph Henry Survey, Abstract No. 742, Tarrant County, Texas and being a portion of Tract 2 as described in the Special Warranty Deed to MAGUIRE PARTNERS — SOLANA LAND, L.P. as recorded in Volume 16858, Page 176 of the Deed Records of Tarrant County, Texas and being more particularly described as follows: BEGINNING at a 5/8 inch iron rod found with "Huitt-Zollars" cap at the southwest comer of Lot 2, Block 1, Westlake/Southlake Park Addition No. 1, an addition to the Town of Westlake, Texas as recorded in Volume 388-214, Page 78 of the Plat Records of Tarrant County, Texas, being on the northeasterly right-of-way line of Kirkwood Boulevard, a variable width right-of-way as dedicated by said Westlake/Southlake Park Addition No. I and being the beginning of a non- tangent curve to the left having a central angle of 9 degrees 13 minutes I1 seconds, a radius of 1428.00 feet and being subtended by a chord which bears North 47 degrees 49 minutes 50 seconds West a distance of 229.54 feet; THENCE along the northeasterly right-of-way line of Kirkwood Boulevard, a variable with right-of-way, as described in Dedication Deed to the Town of Westlake as recorded under instrument No. D208427746, Deed Records of Tarrant County, Texas the following: Along said curve to the left an arc distance of 229.79 feet to a 1/2 inch rod found with Graham cap at the end of said curve; North 52 degrees 30 minutes 14 seconds west a distance of 32.60 feet to V2 inch iron rod found with Graham cup beginning of a curve to the right having a central angle of 18 degrees 54 minutes 48 seconds, a radius of 612.00 feet and being subtended by a chord which bears North 43 degrees 02 minutes 03 seconds West a distance of 201.11 feet; Along said curve to the right an are distance of 202.02 feet to a V2 inch iron rod found with Graham cap at the beginning of a compound curve to the right having a central angle of 24 degrees 06 minutes 47 seconds, a radius of 812.00 feet and being subtended by a chord which bears North 21 degrees 32 minutes 03 seconds West a distance of 339.22 feet; Along said curve to the right an arc distance of 341.73 feet to a 1/2 inch iron rod found with Graham cap at the end of a said curve; North 09 degrees 28 minutes 39 seconds West a distance of 132.24 feet to a 1/2 inch iron rod found with Graham cap at the beginning of a curve to the left having a central angle of 45 Resolution 14-04 Page 10 of 13 degrees 43 minutes 19 seconds, a radius of 708.00 feet and being subtended by a chord which bears North 32 degrees 20 minutes 19 seconds West a distance of 550.11 feet; Along said curve to the left an arc distance of 564.98 feet to a V2 inch iron rod found with Graham cap at the end of said curve; North 55 degrees I I minutes 58 seconds West a distance of 190.50 feet to a V2 inch iron rod found with Graham cap; North 08 degrees 56 minutes 27 seconds West a distance off 21.41 feet to a V2 inch iron rod found with Graham cap on the easterly right-of-way line of Precinct Line Road, a variable width right-of-way, as described in Dedication Deed to Town of Westlake as recorded under Instrument No. D208427746, Deed Records of Tarrant County, Texas and being the beginning of a non-tangent curve to the left having a central angle of 16 degrees 09 minutes 21 seconds, a radius of 1,432.50 feet and being subtended by a chord which bears North 27 degrees 07 minutes 42 seconds East a distance of 402.59 feet; THENCE along the easterly right-of-way line of Precinct Line Road, the following; Along said curve to the left an arc distance of 403.92 feet to a 1/2 inch iron rod found with Graham cap at the end of said curve; North 18 degrees 47 minutes 24 seconds East a distance of 185.36 feet to a 1/2inch iron rod found with Graham cap; North 17 degrees 03 minutes 03 seconds East a distance of 322.64 feet to a 1/2 inch iron rod found on the southerly right-of-way line of State Highway 114 (a variable width ROW); THENCE along the southerly right-of-way line of State Highway 114, the following; North 60 degrees 06 minutes 26 seconds East a distance of 44.54 feet to a Texas Department of Transportation brass disk in concrete found; South 71 degrees 03 minutes 32 seconds East a distance of 254.55 feet to a point for comer from which a Texas Department of Transportation brass disk in concrete found bears North 10 degrees 48 minutes 28 seconds West a distance of 0.43 feet; South 77 degrees 26 minutes 06 seconds East a distance of 746.74 feet to a Texas Department of Transportation brass disk in concrete found; South 71 degrees 03 minutes 31 seconds East a distance of 1443.85 feet to a Texas Department of Transportation brass disk in concrete found; South 62 degrees 34 minutes 19 seconds East a distance of 404.34 feet to a Texas Department of Transportation brass disk in concrete found at the beginning of a curve to the right having a Resolution 14-04 Page 1I of 13 central angle of 08 degrees 19 minutes 09 seconds, a radius of 2,709.79 feet and being subtended by a chord which bears South 58 degrees 24 minutes 45 seconds East a distance of 393.11 feet; Along said curve to the right an are distance of 393.45 feet to a Texas Department of Transportation brass disk in concrete found; South 54 degrees 15 minutes 11 seconds East a distance of 399.24 feet to a Texas Department of Transportation brass disk in concrete found; South 64 degrees 19 minutes 50 seconds East a distance of 56.55 feet to a 5/8 inch iron rod found with "Huitt-Zollars" cap at the beginning of a non-tangent curve to the right having a central angle of 02 degrees 13 minutes 56 seconds, a radius of 2,754.79 feet and being subtended by a chord which bears South 43 degrees 17 minutes 37 seconds East a distance of 107.32 feet; Along said curve to the right n arc distance of 107.33) feet to a 1/2 inch rod found with "Huitt- Zollars" cap for the northeast comer of Lot 1, Block 1, of the aforementioned Westlake/Southlake Park Addition No. 1; THENCE departing the southerly right-of-way line of State Highway 114, North 90 degrees 00 minutes 00 seconds west along the north line of said Lot 1, Block 1, a distance of 2,132.54 feet to a 5/8 inch iron rod with "Carter-Burgess" cap found for the northwest comer of said Lot 2, Block 1, Westlake/Southlake Park Addition No. 1; THENCE South 52 degrees 00 minutes 00 seconds West along the northwesterly line said Lot 2, Block 1, a distance of 1000.00 feet to a 5/8 inch iron rod with "Carter & Burgess" cap found at an angle point in the west line of Lot 2, Block 1; THENCE along the west line of said Lot 2, Block 1, South 00 degrees 00 minutes 00 seconds East a distance of 168.55 feet to the POINT OF BEGINNING and containing 85.90 acres of land, more or less. 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