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R2003-0126 09-08-03 RESOLUTION NO. R2003-126 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PEARLAND, TEXAS, AUTHORIZING THE CITY MANAGER OR HIS DESIGNEE TO ENTER INTO A PAYMENT IN LIEU OF TAXES AGREEMENT WITH THE CROSSING AT 288 SHOPPING CENTER, LTD. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PEARLAND, TEXAS: Section 1. That certain Payment in Lieu of Taxes Agreement by and between the City of Pearland and The Crossing at 288 Shopping Center, Ltd., a copy of which is attached hereto as Exhibit "A" and made a part hereof for all purposes, is hereby authorized and approved. Section 2. That the City Manager or his designee is hereby authorized to execute and the City Secretary to attest a Payment in Lieu of Taxes Agreement with The Crossing at 288 Shopping Center, Ltd. PASSED, APPROVED and ADOPTED this the 8th day of September , A.D., 2003. t . r\4 J, V, 1"t fr TOM REID MAYOR ATTEST: Y NG L G I Y SE TARY APPROVED AS TO FORM: a.U-- DARRIN M. COKER CITY ATTORNEY EXHIBIT ~ a Payment in Lieu of Taxes Agreement This Payment in Lieu of Texas Agreement ("Agreement") is made and entered into effective as of 20 by and between the City of Pearland, Texas, a municipal corporation and home-rule city of the State of Texas ("City"), and The Crossing at 288 Shopping Center, Ltd., a Texas Limited Partnership ("Crossing"). RECITALS WHEREAS, Crossing owns a 5.1719 acre tract of land described as Exhibit "A" attached hereto (the "Property") located within the boundaries of the City; and WHEREAS, Crossing has petitioned the City, requesting disannexation of the Property, for the purpose of including it within the boundaries of Brazoria County Municipal Utility District No. 6; and WHEREAS, the City in return for its agreement to disannex the Property, desires to negotiate an annual "Payment in Lieu of Taxes Agreement" to offset the revenue lost to the City through a reduction in the Property tax that would otherwise be received. NOW, THEREFORE, the City and Crossing hereby agree as follows: Section 1. City agrees to initiate the disannexation procedure for the Property. Once disannexed, the boundaries of the City will be adjusted accordingly. Section 2. For the two (2) calendar years following the calendar year in which the Property is disannexed by the City, Crossing agrees to make a "Payment in Lieu of Taxes", to the City, that is equal to one-fourth (1/4) the amount of taxes the City would have received if the Property were in the City on January 1 of said calendar year. Said amount shall be calculated by multiplying the then current assessed value of the Property, as determined by the Brazoria County Appraisal District annually, times the City's property tax rate and dividing the product by four (4). Section 3. Following the two (2) years described in Section 2 of this Agreement, Crossing agrees to make a "Payment in Lieu of Taxes", to the City in each subsequent calendar year, that is equal to one-half (1/2) of the amount of taxes the City would have received if the Property were in the City on January 1 of said calendar year. The method of calculation of the payment shall be made in the same manner as the calculation formula used in Section 2 of this Agreement, except the product derived from multiplying the Property value times the then current tax rate shall be divided by two (2). Section 4. Any amount payable to the City as a "Payment in Lieu of Taxes" for any calendar vear shall be due on November 1st said year. If Crossing fails to make payment to the City by December ~ 1 of said year, in accordance with this Agreement, the amounts due to the City shall accrue interest after December 31 of said calendar year at a rate of 1 % per month. Section 5. All obligations of Crossing set forth in this Agreement are contingent upon the final approval, by the City Council of the City of Pearland, of an ordinance disannexing the Property. Section 6. This Agreement may only be amended, modified, or supplemented by written agreement and signed by all of parties. Section 7. No assignment by a party hereto of any rights under or interests in the Agreement will be binding on another party hereto until written notice of assignment is given to such other party. Section 8. Whenever possible, each provision of the Agreement shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement is prohibitive or invalid under applicable law, such provision shall be ineffective to the extent of such provision or invalidity, without invalidating the remainder of such provision or the remaining provisions of this Agreement. Section 9. This Agreement shall be construed and enforced in accordance with and governed by the laws of the State of Texas. Section 10. This Agreement and all obligations created hereunder shall be performable in BI'a'GOrla County, Texas. Section 11. Citv Resolution No. R2003- is incorporated herein and made a part of this Agreement for all purposes. Section 12. All conditions and covenants of this Agreement are hereby declared to be covenants running with the land and shall be fully binding upon all persons acquiring any interest in the Property described herein, whether by descent, demise, purchase, gift or otherwise. Section 13. In the event the Property is disannexed by the City and any portion of the Property is subsequently annexed by the City, this Agreement shall immediately terminate, except that Crossing shall be required to make its final "Payment in Lieu of Taxes" hereunder for the calendar year in which such annexation occurs; provided, however, if the aiulexation occurs on January 1 of said year, no "Payment in Lieu of Taxes" shall be due for said year; however, Crossing will be obligated to pay taxes on the annexed property for said calendar year. IN WITNESS WHEREOF, the parties hereto have each caused this Agreement to be executed by their duly authorized officers attested as of the date first above written. EXECUTED as of the date first written above. CITY OF PEARLAND, TEXAS By: Mayor A"1'TEST: Bv: City Secretary The Crossing at 288 Shopping Center Yearland, Texas, a 1'e~as limited partnership By: The Crossing at 288 Development One, L.C., a Teas limited liability company, its general partner By: Herbert D. Weitzman, Manager I1(1USTUN 1\667009\~ ~i9J-?.' Uy~03/20113 u?~ t~~~•'2i)O:t lA: ~2 F~.~ '~19'781?Y.1-8 THE WEITZAiAiv` Gkt)T_p l~JUU1 K5Q'.~ SCr~~4~:~; G rri' ~ ~ a~n ~so~~F-s ~ c~ ~hc:1~~~D),~ : ~,°j' l; ~ i,~"$ i ~ ` ; 45~"iu~ 48~"559~9p.7~~~ ~biabit~ PgBe_..,~_ sf 3_.. ~ 3VEEe 1 ! , 20aE F`sge l o£ 3 a Olliit~': ~~IIeGI1a l'roj S.IIw 288 ~ F,I~ St8 Right-of-Way 5ut~alu~ Highway: 5.~. 7.88 x'tt~ct 2 pr~apet'tylic4eri~itiQn l3cl~,8 a 5.3719 acre tract of land lvcgled int the T.C 1t.R. C.o S`ur~+ay, a~.bstract 675 ij°t Brazaria Ceunty, Te~ca~a; sa~~l5.17~~ acre iracx boit~g out a7~ a called X6.061 acre tract Qf landca7yey+ed to t~ State of Texas artd ~aoui~, af~rawrla $ora JolAn M.'.~be+es)ey ltt Volume 1077, 'Page !26 of the 8raa©~~ C.~xetnty Doed.I~r~cxrds (,B.C.D"R); said S, 2739 Ecru tact bcitag mouparti~larly deseril~d by rne~s and baut~clx as frl74ws ~(~ll bra#y ase rci~s~taced to the 'I`x.L~~I' Rift.-cif-V6~?ay papa, Suet Atumi~r ~ "hccanot:C~umbsr 8012-OT~'~O); ~am~arscing at a ~~rx,a tx:®T&ut found (c~~u-line ctatic,~ 4i~~~.~~5) on the cx1sL'i~~ east right-of w4y line us""~ta.'E3axy 28ri (42~-feet waae) as re~rd~d ire `~'olurae, 307 t, Page 12b of *ht B.G.1?.R., same l~a~g cm west llnc of a call 4.5342 amore ~'sct AJ land r~tdrd in the n~atxt~e of ~r~avi'tz Yrtte~ts sty G~etk's bale I~'txra~r 95-03 $84,5 of tl°,to C?fflraal R~ot~s Qf 8taxeria Couszy f4_R.B.G.) sad being ~a bsgiuaittg of a CtlrvC. to Chc icft; Tl~r~, alautg ~e e~s~g xght-~ca~'p~uvs~+ uric of said StaLc I~iw~,r 7.88.33.0? frxt along tic. are o~ said cut~v~c tea the laadhag a Cg1l~ angle ~ 00 deg~5 ld? tri~autcs 05 sec~aaltls, a ra~tss c, l l d~9. I b t~ctt sitd a chrmd i~~ aiad daatarawg of Satin C~2 dvgrcx~s 55 mim~ecs 2'~ svoauds ~'es4 3:3~U7 feca ae a #'aund ca~r,~ebe ro~txleScttt an a Cpt7Rpg4xad earve; T;°iencc, cotstiav;tag along d~ e~i~tittgright-of-vray lira of saki Stan Hi~llway 288, 3 a foot alv?tg cttc a[c of said cttr~e to ~e left, ha~zr+~" 8 central anglaof IO dcgr 24 ~inutzs 37 ec~:.mds, ara~t~~ of 3491.33 feet acrd a ehordi baaezng ands d°;s~ce of Souct~ tY2 degrnas ~ ! ttuinutea ~ ott~s bast, 197.91 feet to a 51~-irr,~ it~~ta rod with a `x'xI?Q'!' alami~utx+ cap set f®; the ~ol~,ar t+f a8agos~nix~tg ~b +.he herein described tract v!= tend and being es~ a curve sa the left; Tlgcnel, along the existing cigfq~t-efa+way lirtc of said Srett 1~18hw~.y ~.a8, Eh~ following shrec (3) GiDL11'S~S: l . 863,90 fit along the a~of s~ d clout to the i rft, Fta~~ ng a ~h~ eagle of d5 daga~es 27 ~a9ttur~s _;4~ se~oc~ds, aradius of 109? _35 feet and a clsca~'.a~xi~g aid distar+~ Qf Souk7a 3i3 i7 asAetntes 43 secc~hsLs East, 643.3& ~t ;v a. found AoslCttrtc rtaonumcnt aid she ,paiunt of t~ve~~ ~rwe; @? :3 ~ 2@ti3 13.52 P'?,X 7137817119 TFE t~'EITZMA°~` GROLiP T ~ F~.r's~ SCi~~nt t ryu~" ~ r~ ~ °y~v .rarvE~ ~ cap?~~ l~c.,~'cL)~'; i '~2 i 1:~;~/~T ~ , 4g62~9a.9P_ e~l~ ' , . bsi~ P:I~ x of~,~,,,. Page6 ~W3lll' ~ 2 , x(~2 Pa~,e2vf:~ 287.39 frer (sill ?.8'!.$a f`oet' abgn8 the art of• said a1tx~'~ to ~ ciglit. harin$ a. cet~trai anglo of 3b •~8t!~e~ S2 ~araur„s 52 ~~s` a radly~ srt' 44~,~ fee( dad a chord beasin8 and dist~trce of SoszEi9 ~4 degas 37 ~niflutes 1 ! seconds .~•ast, 282.45 foot io a f®nnd ecs~aca~xe mat~mcr~t; 3~ 5ovtt~ 5~ cde 42 a.in 45 seco~de Bast, a distatacxvt' 34.9.32 fast (cell ~cmtst+ 31 dz~'oes 30 rnl~tuces 4•~ s~coatis Ea~~ a dis:tt~ cif lq$.4G fe~~ ~ afvuad eoncreu rS10T111taCtll i 4. 'I'hea~oc, alo~$ the proposed ~gbt-of•~+ay (it?ajcaf said 8~a 1~iwa~ 288, Srnath S'7 degr~s ZS toi~,utcs 2~? seccsnds Vest, at a distanc~a of 1 s9S.t~tt f~ pasq ~ ~1~?-iu~i iron rod v~ritt~ TxU~t al~minura cap Stiarnpmd !et fmx t~C tsegi~~~in8 of a Co~tro, 4f X53 line, ~,d ccanQis?Uirtg for a tonal ciissranc~ at" X35>55 fcC€ so a Sl~minch ttn;s rod vrith a °°~"zAf~' alurriinttm sap ~t far Port of ctitv~e to tl~e t3~ht; Ther~~e, stor?g dua proposed rig35r•af s+vay of said ~i8hw~y 2g8 ~d said Ca+~ttol of Access lime, the fal3ov~i~ four courses: 78.I9 foci a}.tmg time azc of said ct~~e xo [hc rlg•!nt¢ havang a central aiig~ie of 89 degree: 36 mana:r.~ Zg xconds~, a rad9eas tsf ~O.Qt3 fto€'~d a cbaard lyessi~~ ~d djsta.nc+~ of rT4oteeb ~7 demos ~ rr?irat?cr~~ seconds 'S~'esc, °79?.~7' f ro a St$-ink! fro!'t god wits a 'i'xb0'~" ~laiminq,art~ ~ 5 P1n~ t3;; dagr~aes S~$ ~i3taa~~s i ~ see~ada a diste of 13'9.&l fees ~c ~ iron rctd +xrltti n1`xDt3T slumis~ung cap set f~ ~ipm ~ c33asre ~ the 1e22: X43.73 fe~c alr~ng ~c arc of said curve to the ~~1't, havir~8 a nasal! as~cg~ 4f rk~aes 35 r;unut~a 3T se~esxydx. a r~us of 300ae~ acct and, a c~,aa°d bearing aid distarpee of N4~ (~S degr~sea i~ roint~te~~ 0? Se~oo~3s 1~6?.67 #ee9r to a 51st-•~a~ctt iroa rod wiEh a 7xTa~"Y' of uminttl'n clap fit: Forth 07 d+e~r~ a43 mir~tieS S6 secormcis 'Wesx, a dis~r?t~ of ~SB.27 felt i~ end of said Can~i ~rf ~ccss ]lame, same bez~g the Pr~ir~t af~e~tnRamg and aantaining S.1?t9 aces of !and i g~ .,...1...~. is.~.t....,a C.1.1li~a. 124~•f3~ fiM~RP~R~STR~@ti~ ~ 1~~ ! 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