R2022-074 2022-04-11RESOLUTION NO. R2022-74
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 Parkway Landscaping, Street Lighting and Sidewalks.
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 Parkway
Landscaping,Street Lighting, and Sidewalks,TIRZ Project No 22-
02-002
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 Parkway Landscaping, Street Lighting, and Sidewalks,
TIRZ Project No 22-02-002
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 $8,241,095
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.
1004948
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. irt
Chairman, [.and of Directors
-'secretary, 1Koard of rectors
v
1004948
A
PASSED AND APPROVED this f l day of +n , 2022.
I
CITY OF PEARLAND, TEXAS
in Cole
ayor
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City Secretary ,,,,, ,
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1004948
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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 # 22-02-002, Shadow Creek Parkway Landscaping, Street Lighting, and
Sidewalks
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 $8,241,095, which includes
construction cost, design cost, and contingency for the Shadow Creek Parkway Landscaping,
Street Lighting, and Sidewalks 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
Everett 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
O:ILAND115461154600001TIRZFinance 22-02-002(002).doc
LJA Engineering,Inc. 2/16/2022
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 22-02-002 Shadow Creek Parkway Landscaping,Street Lighting and Sidewalks
Proposed Budget from 4th Amendment
�L'fA22-02 W27
Shado C
Lardsc ng,St eat
LightngTand,Sidewalks
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
Sidewalls
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 Improvemens
Broadway/FM 518 Improvements
Contingencies and Engineering
Contingencies(10%)
Engineering(15%)
Master Drainage Plan Costs
Enviommental 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
Shadow Creek Parkway Landscaping,Street $7,140,000 $7,140,000 $8,241,095 $8,241,095 $0
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 58,241,095 510,880,969
Zone Administration/Creation
TIR2 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 $8,241,095 $10,880,969
City Facilities
Library
Improvements $14,253,174 $0 $0 $0
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 $0 SO $0 $0
Grand Total $52,324,234 $16,567,160 $19,122,063 $8,241,095 $10,880,969
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