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R2022-073 2022-04-11RESOLUTION NO. R2022-73 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 Trails Phase II. 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 Secre tary to attest the Letter Finance Agreement attached hereto. PASSED, APPROVED and ADOPTED this the 11th day of April, A.D., 2022. _________________________________ J.KEVIN COLE MAYOR ATTEST: ________________________________ LESLIE CRITTENDEN CITY SECRETARY APPROVED AS TO FORM: ________________________________ DARRIN M. COKER CITY ATTORNEY DocuSign Envelope ID: D655D6B0-F001-4000-A00E-129AC1B0B620 REINVESTMENT ZONE NUMBER TWO, CITY OF PEARLAND,TEXAS March 2,2022 The Honorable Kevin Cole City of Pearland 3519 Liberty Drive Pearland,Texas 77581 Re: Financing for TIRZ Improvements: Shadow Creek Ranch Trails Phase II, TIRZ Project No 22-02-001 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 Trails Phase II,TIRZ Project No 22-02-001 Attached to this letter agreement 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 2022 dollars) established in the Zone's Fourth Amendment to Project Plan and Reinvestment Zone Financing Plan for the above described TIRZ Improvements is $1,696,696 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. 1004947 This letter agreement was duly authorized at a meeting of the Board of Directors of the Reinvestment Zone Number Two, City of Pearland, Texas held on the 2nd day of March, 2022. Very truly yours, REINVESTMENT ZONE NUMBER TWO, CITY OF PEARLAND,TEXAS ATTEST By. i Chairman, :•and of Directors •Seeretary, Board of Dire ors 1004947 PASSED AND APPROVED this // 'day of AfnI ,2022. CITY OF PEARLAND,TEXAS AL" in Cole ayor A I irr, :‹AZ r----CW5TRZTanL Fs 11 a G.i442vvireb-‘ City Secretary \I1111111,1,,,, / " ••`pFpEA R ,9 ,. .,rya, 1004947 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 16, 2022 Board of Directors Reinvestment Zone No. 2, City of Pearland,Texas City of Pearland,Texas 3519 Liberty Drive Pearland, Texas 77581 Re: Project#22-02-001, Shadow Creek Ranch Trails Ph II 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 $1,696,696, which includes construction cost, design cost, and contingency for the Shadow Creek Ranch Trails Ph II 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,. , E erett Deao, PE Engineer for Reinvestment Zone No. 2 ED/pa Attachments Copy Ms. Lynne B. Humphries—Allen Boone Humphries Robinson LLP Mr. Clay Pearson—City of Pearland, Texas 0:\LAND11546\154600001TIRZFinance 22-02-001.doc UA Engineering,Inc. 2/15/2022 Reinvestment Zone No.2,City of Pearland,Texas Jan.2018 ENR Index= 10878 Shadow Creek Ranch Jan.2022 ENR Index= 12555.55 Adjustment= 15.42% letter Finance Agreement 22.02.001 Shadow Creek Ranch Trails Phil Proposed Budget from 4th Amendment MfL`EA-h2.=0hT09' Eitaftzeizzgra Trails 4th Amendment Funds 4th Amendment Funds 4th Amendment Funds 4th Plan Available for Future Available for Future Available for Future Amendment TIRZ Projects(2018 TIRZ Projects(2022 Recommended for TIRZ Projects(2022 Item (2018 Dollars) Dollars) Dollars) Approval(2022 Dollars) Dollars) Infrastructure Streets Pavement Sidewals Landscapring and Irrigation Entry Monuments Lighting Broadway Widening and Signalization 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 Lift Station Traffic Signals McHard Road Reimbrusables Miscelaneous Signal SH 288 Access Road FM 518 lmprovemens Broadway/FM 518 Improvements Contingencies and Engineering Contingencies(10%) Engineering(15%) Master Drainage Plan Costs Enviornmental Study Costs Shadow Creek Ranch Park Phase II $9,720,000 $0 $0 $0 Shadow Creek Trail SCR Park Trail to Kirby and $767,760 $0 $0 $0 SCR Trail System Shadow Creek Trail Phase II-Along Clear Creek Relief Ditch&Library Trail $1,470,000 $1,470,000 $1,696,696 $1,696,696 $0 Shadow Creek Parkway Landscaping,Street $7,140,000 $7,140,000 $8,241,095 $8,241,095 Lighting&Sidewalks Intersection Improvements(BCD/SCP $7,957,160 $7,957,160 $9,184,273 $9,184,273 BCD/Broadway,etc) Sidewalk Extensions $1,137,701 $0 $0 $0 Subtotal $28,192,621 $16,567,160 519,122,063 $1,696,696 $17,425,367 Zone Administration/Creation TIRZ Administration(1-3 Years) Reimbursable TIRZ Creation Costs Annexation Costs Plan Amendment Costs Subtotal Infrastructure Total $28,192,621 $16,567,160 $19,122,063 $1,696,696 517,425,367 City Facilities Library Improvements $14,253,174 $0 S0 S0 Land Costs Fire/Police Station Improvements $9,878,439 $0 $0 $0 Land Costs City Facilities Total $24,131,613 $0 _ $0 $0 $0 Educational Facilities AISD Elementary School AISD Jr.High School AISD Fresh/Soph Campus FBISD Elementary School FBISD Middle School Educational Facilities Total $0 S0 $0 $0 $0 Grand Total $52,324,234 $16,567,160 $19,122,063 $1,696,696 $17,425,367 w.\cam\ssas\nxz mmkceUaoz m t sco Truk vxlu-0]ml am Amendment Budget rift it+ ? 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X ! .y►� + ,t�,3s�' ► �,, 7 {_�tl Nr>Y -t .�SHD NLA Gsi�� t r c x s s 4r �v y`t y WV Ida `� Sr 184 y • ,�'• a,�AIO ` �It *k �I • i?".. v.��"' O�' 0 325 650 -, -mow N �~ I - 1 " �t7 * `O FeelVit:�AI , ` ,/,<'e y t V ,lie . .e , N .611.1 �A� .. 0 �1 P - •�i,= This product f. r mfi,rmntit pu n,and may . • • 1,�. , 1 a r' e` - t+� p j'` �1}R�,4 a![� ,�.•� rot have been prepnml furor he.uiitAle fr legal y���y� t 1, I�. ` C \ [ '114 • •�V '# R : englm.•rng nra�r,•nngpnrW, •a Itd,K»mt s y'•� ���y � �� t repreeem an on-the•gmurd a rvey end repreaenta / . . * ♦ • f only the approximate mlat;ye logatam of property �_ � �-;lir** if* , .•` '✓ ,'904, tc * MAP PREPARED:FF.IiRUARY1022 Mr `� FJ1`. _Aker ..• _� . .• r r '� 4 - c - CITY OF PEARIAND IT GIS DEPARTMENT CLEAR CREEK P :---- _______N_E,N P-3- DRAkFS.�A- UT MEDICALTROUT C 19B MF-7C-16 ---P_.4___________ UT MEDIEA EN,T,ER,uT ME 'PE C`-17 C_1:7B / - YMEA EARL of -19A -1 / DC-3 PEARLAND ouC / C•216 STP FIRE SCH-6 , ,C_21A UT MEDIC'L CENTER LIBC-20 C-208 /'mil OUT ��� _� ), ' I F2234 ` HCA AN i SCH-1 l� - .DS-8 - D isoot41111SCH-2 SF-19 SF-20 / SPH. , �. .�tli 1P14 ` C-10 C-11 `� SF-37 CH-2 C-12 C•13 SF-49 w SF-6 SF-6 SF•24 '(� Sirli SF-7 SCH•7Vii),,,,_\:711111111SF-38A r DS 2 i f 0 SF-50 1 \ Ito) �� MF-6 SF•54 SF-51 \�/ SF-9SF-3813 SF-10 DS-9 C•15 / ( ] SF-14 / ,-� rSF•53SF-40 SCH-4 SF-55 Illi20 � DS-1 V\ /l r- _ REC 3\,.........._,..) DC / MF-4 SF-56 SF-57 SF-43 fscH.5 �. SF-30 SCH-3 SF-18 SF-44 �1 I. . • �DC-1A . C-3 ( CR 92 C SF-83 C SF-71 SF-82 (Ds BENIFITTED AREAS SF-86-B SF-6`J� 106 REINVESTMENT ZONE NO 2, E SF-86 f SF-85 ; fil SF-73 CITY OF PEARLAND, TEXAS i. SF-74 SHADOW CREEK RANCH `{. SF-75 1 TRAILS PH II DS rt SF-77 N PROJECT NO 22-02-001 SCALE 1 =2000 FEET /SF8i) ' U5F80 LA 3600 W San Houston Parkway S.suit.600 F //eust M Tess 77042 1386 a Phone213 9535200 TBPE F- LJA ENGINEERING uw'o,,, Ip EXHIBIT NO' I JOB NO DATE 2/16/2022 111