R2021-094 2021-05-10RESOLUTION NO. R2021-94
A Resolution of the City Council of the City of Pearland, Texas, authorizing
the City Manager or his designee to enter into a Letter Finance Agreement
with Reinvestment Zone No. 2, City of Pearland, Texas, associated with the
Shadow Creek Ranch Sidewalk Extensions.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PEARLAND, TEXAS:
Section 1. That certain Letter Finance Agreement between the City and
Reinvestment Zone No. 2, City of Pearland, Texas, 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 the Letter Finance Agreement attached hereto.
PASSED, APPROVED and ADOPTED this the 10th day of May, A.D., 2021.
EVIN COLE
MAYOR
AT
TAL ROAN, TRMC, CMC
CITY SECRETARY
APPOVED AS TO FORM:
DARRIN M. COKE
CITY ATTORNEY
REINVESTMENT ZONE NO. TWO, CITY OF PEARLAND, TEXAS
February 4, 2021
The Honorable Kevin Cole
City of Pearland
3519 Liberty Drive
Pearland, Texas 77581
Re: Financing for TIRZ Improvements: Shadow Creek Ranch Sidewalk
Extensions; TIRZ Project No. 21-02-001
Dear Mayor Cole:
The City of Pearland, Texas (the "City") and Reinvestment Zone Number
Two, City of Pearland, Texas (the "Zone") have determined to proceed with the
following TIRZ Improvements, as contemplated by the Fourth Amendment to
Project Plan and Reinvestment Zone Financing Plan:
Shadow Creek Ranch Sidewalk Extensions; TIRZ Project No. 21-02-001
Attached to this letter is a map showing the area which is benefited by the
TIRZ Improvements over which the available Tax Increment will be applied for
purposes of determining when reimbursement is made. The City has agreed to
pre -finance the design and construction of the TIRZ Improvements and the Zone
agrees to reimburse the City pursuant to the terms of the TIRZ Project
Implementation and Reimbursement Process.
The Zone hereby gives its approval of the above described TIRZ
Improvements. All applicable procedures set forth in the document entitled
"TIRZ Project Implementation and Reimbursement Process" must be followed.
The Zone's Engineer has determined that the budget (using 2021 dollars)
established in the Zone's Fourth Amendment to Project Plan and Reinvestment
Zone Financing Plan for the above described TIRZ Improvements is $1,216,141
which includes construction cost, design cost, and contingency. The Zone is not
obligated to reimburse the City for any amount in excess of that budgeted
amount.
917863
This letter agreement was duly authorized at a meeting of the Board of
Directors of the Reinvestment Zone Number Two held on the 4th day of
February, 2021.
Very truly yours,
REINVESTMENT ZONE NUMBER
TWO CITY OF PEARLAND, TEXAS
ATTEST:
B
By:
Secretary, Board of Directors
917863
/r
Chairman, Board of Directors
PASSED AND APPROVED this `D day of N, , 2021.
CITY OF PEARLAND, TEXAS
ATTEST:
rc..yksfL
Crystal Roan
City Secretary
917863
114
3600 W Sam Houston Pkwy S, Suite 600, Houston, Texas 77042
LJA ENGINEERING t 713.953.5200 LJA.com TBPE F-1386 TBPLS 10110501
February 4, 2021
Board of Directors
Reinvestment Zone No. 2, City of Pearland, Texas
City of Pearland, Texas
3519 Liberty Drive
Pearland, Texas 77581
Re: Project # 21-02-001, Shadow Creek Ranch Sidewalk Extensions
Reinvestment Zone No. 2, City of Pearland, Texas
LJA Project No. 1546-0000 (2.0)
Dear Board of Directors:
We have determined that the referenced project, as proposed, is included in the adopted TIRZ
Project Plan. The budget for the proposed improvements totals $1,216,141, which includes
construction cost, design cost, and contingency for the Shadow Creek Ranch Sidewalk
Extensions as shown on the attached exhibits.
Attached is a budget status report that illustrates the remaining balances within the 4th
amendment of the TIRZ budget and shows the proposed budget for the above referenced
project.
If you have any questions or concerns regarding this matter, please contact our office.
Sincerely,
James D. Ross, PE
Engineer for Reinvestment Zone No. 2
JDR/em
Attachments
Copy: Ms. Lynne B. Humphries — Allen Boone Humphries Robinson LLP
Mr. Clay Pearson — City of Pearland, Texas
W:\LAND\1546\TIRZ Finance\21-02-001\TIRZFinance 21-02-001A.doc
IJA Engineering, Inc.
September 23, 2020
Reinvestment Zone No. 2, City of Pearland, Texas
Shadow Creek Ranch
Letter Finance Agreement 21-02-001 Shadow Creek Ranch Sidewalk Extensions
Proposed Budget from 4th Amendment
Item
Infrastructure
Streets
Pavement
Sidewaks
Landscapring and Irrigation
Entry Monuments
Lighting
Broadway Widening and Signalieation
Business Center Drive Paving
Memorial Hermann Drive Paving
Water System
Wastewater System
Storm Water Sysem
Lakes and Channels
Improvements
Land Cost
Detention and Drainage
Land Cost
Beautificaiton/Deepening/Pond Creation
Site Drainage Facilities
Park and Recreation
Improvements
Land Cost
Landscaping
Business Center Drive
Memorial Hemann Drive
Overhead Utilities Placed Underground
Pipeling Relocation
Major Improvements
Water Plants
Land Cost
WWTP
Uft Station
Traffic Signals
McHard Road Reimbrusables
Miscelaneous
Signal
SH 288 Access Road
FM 518 Improvemens
Broadway /FM 518 Improvements
Contingencies and Engineering
Contingencies (10%)
Engineering (15%)
Master Drainage Plan Costs
Enviornmental Study Costs
Shadow Creek Ranch Park Phase II
Shadow Creek Trail - SCR Park Trail to Kirby and
SCR Trail System
Shadow Creek Trail Phase II - Along Clear Creek
Relief Ditch & Library Trail
Shadow Creek Parkway Landscaping, Street
Lighting & Sidewalks
Intersection Improvements (BCD/SCP,
BCD/Broadway, etc)
Sidewalk Extensions
Subtotal
Zone Administration/Creation
TIRZ Administration (1-3 Years)
Reimbursable TIRZ Creation Costs
Annexation Costs
Plan Amendment Costs
Subtotal
Infrastructure Total
City Facilities
Library
Improvements
Land Costs
Fire/Police Station
Improvements
Land Costs
City Facilities Total
Educational Facilities
AISD Elementary School
AISD Jr. High School
AISD Fresh/Soph Campus
FBISD Elementary School
FBISD Middle School
Educational Facilities Total
Grand Total
4th Plan
Amendment
(2018 Dollars)
$9,720,000
$767,760
$1,470,000
$7,140,000
$7,957,160
$1,137,701
$28,192,621
$28,192,621
$14,253,174
$9,878,439
$24,131,613
$0
$52,324,234
4th Amendment Funds
Available for Future
TIRZ Projects (2018
Dollars)
$0
$0
$1,470,000
$7,140,000
$7,957,160
$1,137,701
$17,704,861
$17,704,861
$0
$0
$0
$0
$17,704,861
4th Amendment Funds
Available for Future
TIRZ Projects (2021
Dollars)
$0
$0
$1,571,351
$7,632,278
$8,505,778
$1,216,141
$18,925,549
$18,925,549
$0
$0
S0
$0
$18,925,549
Jan. 2018 ENR Index = 10878
Jan. 2021 ENR Index= 11628
Adjustment = 6.89%
LFA 21-02-001
Shadow Creek Ranch
Sidewalk Extensions
Recommended for
Approval (2021 Dollars)
$1,216,141
$1,216,141
$1,216,141
$0
$0
$1,216,141
4th Amendment Funds
Available for Future
TIRZ Projects (2021
Dollars)
$0
$0
$1,571,351
$7,632,278
$8,505,778
$0
$17,709,408
$17,709,408
$0
$0
$0
$0
$17,709,408
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BENIFITTED AREAS
REINVESTMENT ZONE NO. 2,
CITY OF PEARLAND, TEXAS
SHADOW CREEK RANCH
SIDEWALK EXTENSIONS
PROJECT NO. 21-02-001
114
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