Loading...
Item 7C - TIRZ #2 Preliminary Project and Financing Plan _ Ly NORTH S C 1 4 LLIIL- i ii ■i 111E 1 - 0 WE rw 0 ■m El V k �6-ai Mori'- ML 1 PRELIMINARY PROJECT AND "`i -�� ,%EPTEM BER 15, 2026 9 � CITY OF r ' SOUTHLAKE Table of Contents page pagt page page page 0 06 15 Project Overview— Preliminary Project Plan Preliminary Financing ExhibitA-1: ExhibitA-2: History, Executive Plan Map of the Zone Legal Description Summary and Location page page page page page 50 51 5 5 Exhibit B: Exhibit C: Exhibit D: Exhibit E: Public Notice Exhibit F. Shivers Farm Financial Analysis Proposed Project Costs Listing of Properties Development Plan South lake TIRZ#2 Preliminary Project and Financing Plan I 2 tip ' +. Ff, b - '" �.a.L I. k • • • • �. - — __. 4 - � t MORTM STAY qb- max. -� � -;�:,;;y `•, �^ � - ,�• :�.� ,Ilflfl}II; � r� --'� HE "r.�. •��•}• _ .. vpis �a - � ' f �"•:��' � r TILT ;,h.� IC� ve iew ' SOU y ..ff..�} In June 2026,the City Council approved Prior to the November 2026 final project Southlake TIRZ #2 the Master Developer Agreement,which and financing plan consideration,City established a reimbursement cap of staff will meet with staff of the History $3.8.85 million for eligible project costs overlapping taxing jurisdictions, namely within the new Shivers Farm Tarrant County,to discuss their development. In September 2026,the participation and the preliminary project City Council initiated the creation of Tax and financing plan that has been Created in 2026 consisting of 25.9 Increment Reinvestment Zone#2(TIRZ developed to delineate the projects and acres #2) by setting a public hearing and costs of the zone. These agreements are subsequently adopting Ordinance No. important to the ultimate success of the s18.85 million in project costs as 3.303 establishing the zone's boundaries, TIRZ because this pledged incremental part of the 2026 Preliminary term, and Board of Directors.The TIRZ property tax can flow into TIRZ#2 to help Project and Financing Plan #2 encompasses 25.9 acres,with total fund the public improvements. project costs estimated at$3.8.85 million, which is also the cap set forth in the Master Developer Agreement. This preliminary project and Anticipated projects within TIRZ#2 financing plan establishes the zone include the construction of a full four-lane for the Shivers Farm development, divided Kirkwood Boulevard,a new identifies the planned projects and traffic signal at the intersection of White's Chapel Boulevard and Kirkwood their associated costs, and Boulevard,and general infrastructure contemplates the participation of improvements supporting the overlapping jurisdictions development. South lake TIRZ#2 Preliminary Project and Financing Plan I 4 z o Southlake TIRZ #2 Tax Increment P�� zUS66THLAC7I« Location "Reinvestment Zone F e4 m o I.aKcnd a I Street Cenledines U W I pp F Area Roads Creeks and Streams 3 S The area consists of approximately 25.9 acres and is —TIF CIs,d¢#2 Z BAdln9 Footp,lrN ` Scale 1:10000 more fully described in the map and legal description 0 LakeGrapedne F DOV_ Dt too-veer Fmod Pia�n 'DOVE RD — '�' i presented in ExhibitA NIURPfi__ � ts,TROPFZ DR OI �j = m E K4RKW�D gLVD UJ' J _ a zJ l y REL LN r�� r FOXGLENN\ `S��. ` l m c - ip V) A Ryv���l A i ��N CT MV @ O Z 4 W HIGHLAND ST —� - —— E HIGHLAND ST 3 STER LN z \-'M \ —'r Y al z Ofiarpf Performance Excellence Last Street Revision-B/28/2026 I Geographic Information Systems Southlake TIRZ#2 Preliminary Project and Financing Plan I 5 1 _ OP1YM15T 4 rrr�r{ r till w f n Per '11 I 111 111111 ��� r•■ �` a +■ .or AVIS x Exi s zitr 1 List of estimat - ditions o real prope s s mpro is 1. J, Proposed changes of i"--�tatement of a method o r zoningordinances,master r l relocating r ons o b e o g pe s t o ' - --plans,building bodes and displaced as a r It of • ` �"• - _ othermunicipal implementiZthe ordinances M�Ml Southlake TI RZ #2 As set forth in Section 311.011 in the Tax Increment Financing Act of the Tax Code, the Project Plan for the Tax Increment Reinvestment Preliminary Project Zone Number 2, Southlake, Texas must include the following Plan elements: i. A description and map showing existing uses and conditions of real property in the zone and proposed uses of that property. 2. Proposed changes of zoning ordinances,the master plan of the municipality, building codes, other municipal ordinances, and subdivision rules and regulations, if any, of the county, if applicable. 3. A list of estimated non-project costs. 4. A statement of a method of relocating persons to be displaced, if any,as a result of implementing the plan. Southlake TIRZ#2 Preliminary Project and Financing Plan I 7 Southlake TIRZ 7T� The boundaries of the Tax Increment The City of Southlake Future Land Use Reinvestment Zone#2 are shown in Map Plan adopted in February 2023 designates i. Additionally,TIRZ#2 is located near the entire site as Mixed Use.The Mixed Preliminary Project but outside of the DFW International Use designations purpose is to provide an Airport 65`LDN'noise contour. 'LDN'is option for large-scale, master-planned, Planthe abbreviation for the average mixed-use developments that combine day/night sound level calculation land uses such as office facilities, methodology used by airport operators shopping,dining, parks, and residential Element 1: to determine noise levels. The LDN is uses. Map 4 shows the Future Land Use shown in Map 2 and is for reference Plan for the TIRZ#2 area. A description and map showing purposes only. existing uses and conditions of The current zoning district approved in real property in the zone and As of the date of this plan,the site is the Reinvestment Zone are shown in Map largely undeveloped with a single 5 and consists of the ECZ—Employment proposed uses of that property homestead located on the project site. Center District exclusively.This zoning Map 3 shows the current uses within the was approved by the City Council on TIRZ#2 area and is intended to provide a October 22, 2025 under Planning Case TIRZ#2 Maps located on the following pages: feeling of the current area and the ZA25-0045 and Ordinance No.480-837. Map is Boundaries of the Reinvestment Zone potential of development.The TIRZ will Formerly,the site was designated with Map 2: Airport Noise Overlay'LDN' add commercial space to Southlake in the AG—Agricultural District zoning which form of a 250,000 square foot mixed-use reflects is largely undeveloped nature. Map 3: Current Uses and Conditions of Real development consisting of retail, Property in TIRZ#2 restaurants,office space,a potential Map 4: TIRZ#2 Land Use hotel,and anchored by a grocer. Map 5: TIRZ#2 Zoning South Lake TIRZ#2 Preliminary Project and Financing Plan I 8 r Map 1 : Tax Increment W636THLAKt "Reinvestment Zone °O Boundaries of ��� LU F O w v I.e�;enrl a I 5[reel Centerlines U " P, South la ke TI RZ #2 Area Roads w �I �I. Creaks and Streams 3• S -TIF Dlstrid#2 Z _Building Footprints •� ' /0 1:1���� Pa�l�a Lake Gra �--! g DOV SCd�O Di too-Y-,Flood Plaln I DOVE RD —Jh N, NIURPNY R li O — ST.TROPEZ DR of zl m E K4RKWOOP HLV� V a �_ < k z Z ° w' REL LN o' w m '•, ��cb _ ''q TJ O�,� r _ l FOX GLENN �``Csh; ram, ,} TT zz Qs CT o FSly N I W HIGHLAND ST I_ - — E HIGHLAND ST L'C Z �p ESTER LN p. = - Officof Performance Excellence Last Street Revision-8/28/2026 Geergrapbic Information"Systems South lake TIRZ#2 Preliminary Project and Financing Plan I 9 Westlake ,.• o UTHLAEMap2: )VVN LN 0 Airport Noise Overlay AH TRL ♦�•'•. O`4o Tax Increment ''•.•* Reinvestment Zone N DR /�// •�'•* With Airport Overlay •. '•i' _ � z � -T I, O E DOVE RD DOVE RD `. W DOVE RD ••� i,' �taRPNY DR y. '0 65 'LDIT p 's wt: of - • - -- ll�� a S >- '•ice ST.TROPEZ DR 0 > •+� Scale 1:10000 zl -. �� m �i EMRK)/V HLVD REL LN �'••� ,� �iA --•� .FOXGLENN �`��Hr7�,c ��'•i - z 6 ".• o w � �E � 7 1 Sly74 TRW y y� ��'•. y. Legend 1 TIF District#2 65 Decibel Level —I— --r —75 Decibel Level _Building Footprints W HIGHLAND ST __. — %/. 100-Year Flood Plain �Mw Of z a g o ig rz oANhE�ry ERoA was } E lei � I Q - - —__.. ;' •. Ofiicvpf Performance Excellence Wst Street Revision-8/28/2026 Gee�grap'hic Information"Systems�.pea n.qm South lake TIRZ#2 Preliminary Project and Financing Plan 1 10 Map 3i Westlake ���� � SOUTHLA WN LN --,DO `. � , O Current Uses and 4AHTRL Tax Increment O, Reinvestment Zone N DR Current Conditions Conditions of Real z I Property i n TI RZ #2 DOVE RD W DOVE RD_ - E°°V�R° - �� RPN DR — (as of July 2026) 1 N P ti O ST.TROi DR of _ � — Scale 1:10000 zl E Kli BLVD N J a � x z w RELLN r� F ❑� m �y� v ° c FOXGLENN ;u, m iA K .ry4r D 4 7 O 0 TIF District 0 No Improvement Value _ W HIGHLAND ST _ - 0 Building Footprints n�scwnw ry I Z . O Iz ---- - p m'P�P oMhou�dark3es�9 PPrmSmile 6N.Eue�1'sR�yAhwa�Vs� } �� 2 - OftiC@''of Performance Excellence o,�mdieaa,muegm,�q ire i_a Last Street Revision-8I28/2026 Geograp'4ic Information Systems Southlake TIRZ#2 Preliminary Project and Financing Plan I 11 "Z CITY OF Map 4: westlal<12 ��� L P SOUTHLAKE WN LN ADO _ - O TIRZ #2 Land Use IAH TRL• Tax increment O i Reinvestment Zone 4DR - - With Future Land Use _ l �- -� —E DOVE RD= -- - DOVE RD W DOVE RD— — - MURPNY OR Il Lh N— Q — S O ST.TEIgPEZDR Scale 1:10000 z e KTRKWOOP BLIJD - v 11 = m z c xi w w v REL LN� of v �z z v z� C � _FQXGLENN A 0 7y4F Z R N C m T m Q A — �I �SNTtQ� N � I _ I Legend QTIFDistrict#2 - Mixed Use - W HIGHLAND ST - — Building Footprintsof _ II r Y I r — 4 I ¢ I� WcW Perrprmance Excellence _ Last Street Revision-812812026 Geagrap'htc Intrormation'Systems Southlake TIRZ#2 Preliminary Project and Financing Plan 1 12 "Z CITY OF Map 5: westlal<e ��� � ` SOUTHLAKE WN LN ADO - �� Tax Increment TI RZ #2 Zon i ng AH TRL 4a Reinvestment Zone 4DR - With Zoning z I I E DOVE RD DOVE RD_ _ '` —..W DOVE RD— _ i J" — MURPNY bR N— p I Y S O T • I ST.T@gPEZDR ' Scale 1:10000 z E KtaKy bp�sLND - - < U . _Z I U A I u1 W Y REL LN� a x z r c FOX �` SHE z N 4AR cT 6 0 Q A W Legend l p TIF District##2 - M Building Footprints -- W HIGHLAND ST - ECZ-Employment Center District — of z J ro m 2 — --= - - -- — ofriceof Pert rmance Excellence O P Last Street Revision-8Ia8/2026 -Geograp'tric Information'Systems Southlake TIRZ#2 Preliminary Project and Financing Plan 1 13 Southlake TIRZ y"1'L No changes are anticipated to any city In the process of developing Southlake codes or ordinances by the establishment Tax Increment Reinvestment Zone of this Tax Increment Finance Zone. This NumberTwo, it is not anticipated that Preliminary Project does not preclude, however,the possibility any persons will be displaced or need to of planning and zoning changes subject to be relocated as result of the Planthe standard planning and zoning process implementation of the TIRZ. and procedures. Element 2: Non-project costs within the TIRZ zone are Proposed changes of zoning those development costs not paid for by the TIRZ.The estimated 2026 taxable value ordinances, the master plan of of these non-project costs representing the the municipality, building private development investment within the codes and other municipal boundaries of the Zone is$68,307,050.This anticipated private development is ordinances projected to generate$3.8,850,000 in TIRZ revenue to fund the project costs outlined Element 3: in Exhibit C of this plan. A list of estimated non-project Projected RP Taxable Completion SF Units Value per ValueIncmental SaleslSF Incremental Sales costs' Date Unit!&F Quick Service Restaurant 2028 4,195 $ 400 $ 1,678,000 $ 600 $ 2,517,000 Quick Service Restaurant 2028 3,817 $ 400 $ 1,526,800 $ 600 $ 2,290,200 Retail 2028 18,551 $ 325 $ 6,029,075 $ 500 $ 9,275,500 Element 4. Grocer 2028 35.157 $ 125 $ 4,394,625 $ 200 $ 7,031,400 Quick Service Restaurant 2028 1,500 $ 400 $ 600,000 $ 600 $ 900,000 Astatement of a method of Restaurant 2028 5,553 $ 425 $ 2,360,025 $ 600 $ 3,331,800 Restaurant 2028 6,826 $ 425 $ 2,901,050 $ 600 $ 4,095,600 relocating persons to be Restaurant 2028 11.001 $ 425 $ 4,675,425 $ 600 $ 6,600,600 displaced as a result of Restaurant 2028 6,099 $ 425 $ 2,039,600 $ 600 $ 3,059,400 Quick Service Restaurant 2028 5,499 $ 400 $ 2,039,600 $ 600 $ 3,059,400 implementing the plan. Office 2028 73,920 $ 000 $ 20,800,000 $ - $ - Hotel 2028 73,920 130 $ 160,000 $ 2Q80Q000 $ $ Restaurant 2028 9,514 $ 425 $ 4,043,450 $ 600 $ 5,708,400 Total 220,307 130 $ 68,307,050 $ 48,634,900 LSouthlake TIRZ#2 Preliminary Project and Financing Plan 1 14 -�T JA pro" ore time w otal • i one, inc uding osts o�j7on�tary used value of axable ative expense obligations are4 b real pm&jty in the zone ,. incurred ���► _e; - _ sae nt listing the fe"estimated captured - kind,number,and location A description o appraised value of the • • of all proposed public methods of financing 46 zone during each year of �e w ks or public =estimated project costs its existence. inanci improvements in the zone and the expected sources r of revenue to finance or The duration of the zone 1r" y am Econo l Feasibility5tudy payproject costs,including the percentage of tax ne estimated amount of increment to be derived ' =�' bonded indebtedness to be from the property taxes of r � •� curred each taxing unit on real % C property in the zone Southlake TIRZ #2 The Preliminary Financing Plan Upon approval of the final project plan provides information on the and financing plan,an updated projected monetary impact that participation agreement between Tarrant Preliminary Financing the TIRZ could have on the County and the City will be incorporated property described in Exhibit A. into this plan. Plan It also describes how that impact will be utilized to enhance the area and region through leveraging the resources of each entity who participates The Tax Increment ReinvestmentZone in the project. Analysis is included in its entiretyin Exhibit B. With this plan,the City of Southlake and is shown as participating at 95%, meaning that 9S%of the increment generated from the City will flow into the fund. The City is also pursuing the option to include Tarrant County as a participant in the zone. If the County determines to participate in this zone,the City's participation of95%will be modified (reduced)to account forthe additional participant. These revenues will be used to fund public improvements within the zone as described beginning on page i9 of this plan and included as Exhibit C. Southlake TIRZ#2 Preliminary Project and Financing Plan I 16 �outhlakP TIRZ '1'�� Acquisition and construction of Relocation costs; public works, public improvements, Organizational costs, including the new buildings,structures and costs of conducting environmental Preliminary Financing fixtures;the actual costs of the impact studies or other studies, the acquisition,demolition,alteration, Plan cost of publicizing the creation of remodeling, repair, or the zone,and the cost of reconstruction of existing buildings, implementing the project plan for structures,and fixtures;and the the zone; actual costs of the acquisition of land and equipment and the . Interest before and during clearing and grading of land; construction and for one year after completion of construction, The allowable "project costs"by the • Financing costs, including all whether or not capitalized; municipality establishing a reinvestment interest paid to holders of evidences Zone, as set forth in Section 311.011 in of indebtedness or other obligations • The cost of operating the the Texas Tax code, are as shown on this issued to pay for project costs and reinvestment zone and project page. any premium paid overthe principal facilities,- amount of the obligations because The amount of any contributions of the redemption of the obligations made by the municipality from The specific projects anticipated to be before maturity; general revenue for the undertaken in the Southlake TIRZ#2 are Real property assembly costs; implementation of the project plan; included as Exhibit C. and Professional service costs, including those incurred for architectural, . Payments made at the discretion of planning,engineering,and legal the governing body of the advice and services; imputed municipality that the municipality administrative costs, including finds necessary or convenient to the reasonable charges for the time creation of the zone or to the spent by employees of the implementation of the project plans municipality in connection with the for the zone. implementation of the project plan; Southlake TIRZ#2 Preliminary Project and Financing Plan I 17 Asset forth in Section 311.011 in the Tax Increment Financing Act of the Texas Tax Southlake TIRZ #2 Code,the Financing Plan for the Southlake,Texas Reinvestment Zone NumberTwo must include the following elements: Preliminary Financing 1. Estimated Project Costs of the Zone, including administrative expenses, Plan2. A statement listing the kind, number and location of all proposed public works or public improvements in the zone, 3. Economic Feasibility Study, 4. The estimated amount of bonded indebtedness to be incurred, 5. The time when related costs or monetary obligations are to be incurred, 6. A description of the methods of financing all estimated project costs and the expected sources of revenue to finance or pay project costs, including the percentage of tax increment to be derived from the property taxes of each taxing unit on real property in the zone, 7. The current total appraised value of taxable real property in the zone, 8. The estimated captured appraised value of the zone during each year of its existence;and, g. The duration of the zone. The following pages provide details regarding these requirements for the TIRZ#2 Preliminary Financing Plan. South lake TIRZ#2 Preliminary Project and Financing Plan I 18 Southlake TIRZ #2 • Total project costs are estimated at approximately $18,850,000. Preliminary Financing 0 included cifisproject c Exhibit t estimates are in The costs of each item and a brief Plan . The proposed public improvements in description of the project the zone fall into six general categories: components are included on the Public Utilities: following pages. Element 1: � Water Facilities and Estimated Project Costs of the Improvements, Zone, including administrative 0 Sanitary Sewer Facilities and expenses Improvements; 0 Storm Water Facilities and Element 2: Improvements; A statement listing the kind, Street and Intersection Improvements number and location of all and Pedestrian Enhancements; proposed public works or Professional Services Costs; public improvements in the , open Space, Park and Recreation zone Facilities and Improvements, Public Facilities and Improvements; Economic Development Grants;and, Ad m i n i strative Costs South lake TIRZ#2 Preliminary Project and Financing Plan I 19 Southlake TIRZ #2 Public Utilities Street and Intersection $3,526,807 Improvements and Preliminary Financing Water Facilities and Improvements:This Pedestrian Enhancements: category includes TIRZ eligible Planexpenditures for design, engineering and $4.344,867 construction of water facilities and The TIRZ will encourage the construction improvements that support the of multi-functional,pedestrian-oriented, development and redevelopment of the aesthetically-pleasing,safe, and inviting Element 1: TIRZ as shown on page 21. street for residents and visitors as shown Estimated Project Costs of the Sanitary Sewer Facilities and on page 24 and 25. Creating a pleasing Zone, including administrative Improvements:This category includes public realm supports and encourages a TIRZ eligible expenditures for design, wide variety of new development and expenses engineering and construction of investment.Elements of complete streets structures or systems designed for the include the building-to-building collection,transmission,treatment,or improvements which may encompass: Element 2. sidewalks,shared travel lanes(e.g. disposal of sewage,and includes trunk A statement listing the kind, mains, interceptors,treatment plants and bicycle), parallel and angled parking, number and location of all disposal systems as shown on page 22. pedestrian crosswalks,pedestrian and emergency bulb(American with proposed public works or Storm Water Facilities and Disabilities Act(ADA)accessibility), public improvements in the Improvements: Many areas within the awnings,street improvements, planters, TIRZ have an aging infrastructure,proper pedestrian street furniture, bike racks and zone utility drainage is a key component of the pedestrian lighting.This includes public art project plan. Drainage systems manage and other amenities that enhance the stormwater runoff to limit erosion and pedestrian experience. sedimentation and control flow rates. These facilities can include natural features,conduits,channels,ditches, swales, pipes,detention devices,and similar means of carrying, directing, detaining,or controlling stormwater as shown on page 23. South lake TIRZ#2 Preliminary Project and Financing Plan I 20 South la ke TI RZ #2 Preliminary Financing Plan Water Facilities and Improvements: � C I CONNECT EX.12"WATER iL I I 1 PUBLIC 8"WATER I I GRAPHIC SCALE IN FEET EX 12"WATER 0 125 250 500 1 Np�ER p PUBLIC 77'WATER G KIRKWOOD BLVD � I' T—T� 1 � CONNECT TO 3Ell PUBLICS"WATER ` EX-17'WATER I i.ry in sQVNOPUBLIC 8"WATER 111 ,.'PIN \ \ i w I I I I IIII � y v" I I �I IJ1 �9f �7 PUBLIC I B"WATER IZ - . a PUBLIC 8"WATER ° l I -�-_ WATER PLAN KimleyoHorn Southlake TIRZ#2 Preliminary Project and Financing Plan I 21 South la ke TI RZ #2 Preliminary Financing Plan Sanitary Sewer Facilities and Improvements: I — — -- —— -- - — — - = i-' NORTH PUBLIC V'SEWER GRAPHIC SCALE IN FEET II � 0 125 250 500 KIRKWOOD BLVD \ / PUBLIC W SEWER 14 + EX B'SEWTO ER V i \ m J w PUBLIC B"SEWER Q l:L ~ y / 8"SEWER Z I SAN ITARY SEWER PLAN Kimley*Horn Southlake TIRZ#2 Preliminary Project and Financing Plan I 22 South la ke TI RZ #2 Preliminary Financing Plan Storm Water Facilities and Improvements: . I I =PUBLIC54"$TORM— PUBLIC 36" I PUBLIC 18" L STORM I I PVBLIC STORM I 'STORM 1 . I — STORM PUBLIC 24" STORM cm I CSk N� _ PUBLIc3a I. GRAPHIC SCALE IN FEET (' \ STORM I y 0 125 250 500 PUBLIC 24" STORM I 3 PUBLIC 36" r_ .} STORM 1 PUBLIC 24"STORM 'nt�ORJM UBL C 54 I K�IR KWIII OO� D BLVD sP C T— BE M PUBLIC24" POND STORM ————— C� \ PUBLIC 36" PUBLIC 21" STORM STORM N o I I PUBLIC IV' STORM I d za•sroRM � PUBLIC 24"o STORM I 1 -� _ STORM PLAN Kim{ey>»Horn Southlake TIRZ#2 Preliminary Project and Financing Plan I 23 South la ke TI RZ #2 Preliminary Financing Plan Street and Intersection Improvements: I II I NORTH PROP ROW PROPROW EX ROW �PROP ROW� GRAPHIC SCALE IN FEET 0 125 250 500 goo°' INSET A SEE THIS SHEET PROP ROW PROP ROW © o� o� wgo LEGEND - �. Ex PRERYo—r Y `ARNP SIGNAL PGLEMAST \ - PROP ROW - p PROP ROW EX ROW J PROP SIcry PROP ROW PROP PEGscNALNEAo PROPS PRa clRc�uNo 90 lul o -PROPv CONCRETE x EX ROW �SIDE-NCRETE ' I '. � 9l 3• 4 PROP RIGHTE 2 TURN LpTI PROP ROW �1 00 3 ly EX Row I ® f111111111111f1Llll II II If PROP ROW EX ROW VIIIIIIIIII W IIII �L PROP RIGHT TURN IA E 01 — — a oI I / - PROP ROW EH ROW INSET A PUBLIC PAVING EXHIBIT Kim{ey)Morn Southlake TIRZ#2 Preliminary Project and Financing Plan I 24 South la ke TI RZ #2 Preliminary Financing Plan Pedestrian Enhancements: iN 1 CITY SITE PLAN NOTES i -- .. ♦ /• .. '' - JI mwierummwu.aw-s vw..wwronn Ilti ,'! ��W— d • � � 1� ,� «NSA 1 w : + 1 1� �.•N�.k.N�...ma.�9...,,�,r J I • �� • •• .mss.,. E KIRKWOOD BLVD � ��,J; ♦., 'ter � _ ' — --��— ---- ----- muanu.u�mr��.ar.,,ml.rn��m i t �� •� ��.�. o , $ ' LEGEND PROPERTY LINE a..exr... • — c] —— ——— ♦ \ PROPOSED SIDEWALK �\ �' � ■������■ PROPOSED PUBLIC B'SIDEWALK r♦ z I . - 1 - PROPOSED PUBLIC 5'SIDEWALK \ ———————- PROPOSED PRIVATE SIDEWALK LIGHT DUTY CONCRETE PAVEMENT HEAVY DUTY CONCRETE PAVEMENT ., \ 1 11 1 ��•�, PUBLIC CONCRETE PAVEMENT ``Im + I 1 Southlake TIRZ#2 Preliminary Project and Financing Plan I 25 Southlake TIRZ #2 Open Space, Park and Professional Service Costs Recreation Facilities and $2,348,920 Preliminary Financing Improvements, Public Professional service costs include those Plan Facilities and Improvements incurred for architectural,planning, engineering,and legal advice and services. $1,576,s62 In accordance with Sec.31i.00%413),TIRZ funds may be used to acquire,construct, Economic Development Grants: Element 1: reconstruct,or install public works, $6,864,744 Estimated Project Costs of the facilities,or sites or other public J improvements as shown on page z7 and This may include grants, loans,and services Zone, including administrative 28. Costs of design, improvements,and for public and private development. Eligible expenses land acquisition are TIRZ eligible expenses TIRZ project costs are not limited to public and can be funded from this category. uses and may also include projects that involve: historic preservation,demolition, Element 2: environmental remediation and economic A statement listing the kind Administrative Costs development grants.Chapter 38o of the Local Government Code grants number and location of all $700,00o municipalities in Texas the authority to offer proposed public works or Administrative costs, including reasonable grants and loans of public funds to stimulate charges for the time spent by employees economic development.Section 311.010(h) public improvements in the of the City,to assist with implementation of the Texas Tax Code details the authority zone within the TIRZ will be eligible for of Chapter 38o within a project and reimbursement as project costs, upon financing plan and limits the aggregate approval by the Board of Directors and in amount not to exceed the amount of tax connection with the implementation of increment produced by the municipality and the Project and Financing Plan. Other paid into the tax increment fund for the related administrative expenses including zone for activities that benefit the zone and legal fees and consulting fees of the City, simulate business and commercial activity in management expenses, meeting the zone. expenditures and equipment are included in this category. South lake TIRZ#2 Preliminary Project and Financing Plan I 26 South la ke TI RZ #2 Preliminary Financing Plan Open Space, Park and Recreation Facilities and Improvements, Public Facilities and Improvements: J S - _ LANDSCAPE PLAN SCHEMA=HENMINNG Southlake TIRZ#2 Preliminary Project and Financing Plan 1 27 South la ke TI RZ #2 Preliminary Financing Plan Open Space, Park and Recreation Facilities and Improvements, Public Facilities and Improvements: C)i _ - O ✓J pp IL r� . aeBB@g@g@Fgtiv �. L KIRKMOR BLVO \p O D/ (0. Q IV I -00 0 0 - - — - i PROPERTY LINE © CPEN SPACE PLAN D sa Southlake TIRZ#2 Preliminary Project and Financing Plan I 28 Southlake TIRZ #2 The fiscal impact of development is It is not anticipated at this time that the outlined in the Tax Increment TIRZ will incur any bonded indebtedness. Preliminary Financing Reinvestment Zone Analysis(Exhibit B). Expenses will be budgeted annually as A taxable value analysis was developed needed, in alignment with identified Planas part of the project and financing plan expenditures within the project and to determine the economic feasibility of financing plan. the project.The study examined the Element 3: expected tax revenue the TIRZ would Please referto Exhibit C for details on receive based on the previously outlined planned expenditures. Economic Feasibility Study developments.A summary overview of the anticipated development square Element 4: footages,the anticipated sales per The estimated amount of square foot and the anticipated taxable value per square foot. Exhibit B shows bonded indebtedness to be the estimated captured appraised value incurred of the zone during each year of its existence and the net benefits of the zone to each of the local taxing Element 5: jurisdictions as well as the method of The time when related costs or financing and debt service.Utilizing the monetary obligations are to be information outlined in this feasibility study,the City of Southlake has found incurred that this plan is economically feasible and will provide the City and other taxing jurisdictions with economic benefits that would not occur without its implementation. Southlake TIRZ#2 Preliminary Project and Financing Plan I 29 Southlake TIRZ #2 Project costs will be paid forth rough use The total appraised value of the taxable of tax increment funds received. real property in the zone, using the 2026 Preliminary Financing base year values provided by the Tarrant The revenue source will be the real Appraisal District,is$803,531. Planproperty taxes and sales tax captured by the TIRZ. The taxable value of those same properties is$16,575,40o,after deducting Element 6: Forthe Preliminary Financial Plan,the a total of$15,771,869 for agricultural A description of the methods City of Southlake is illustrated as deferrals and tax-exempt properties. participating at 95%. Othertaxing entities This is the base year value established for of financing all estimated such as Tarrant County,Tarrant County the zone. project costs and the Junior College District and Tarrant County expected sources of revenue Hospital District are currently illustrated A listing of existing properties is included to finance or pay project as participating at o%in the TIRZ.The in Exhibit D. City has approached Tarrant Countyfor costs, including the consideration to participate in the TIRZ percentage of tax increment #2. If Tarrant County elects to participate to be derived from the in the TIRZ,the City would then modify its participation by reducing the percentage property taxes Of each taxing to account for the County's participation. unit on real property in the zone Element 7: The current total appraised value of taxable real property in the zone Southlake TIRZ#2 Preliminary Project and Financing Plan I 30 Southlake TIRZ #2 The estimated appraised value of the improvements in the zone per year is listed in the following table. The estimated value of the zone assumes an annual growth in the Preliminary Financing appraised value of 4 Plan Incremental Incremental Taxable Assessed Taxable Assessed Element 8: . • Valuation Valuation $76,836,141 • • $i18,285,709 The estimated captured $79,909,587 $123,017,137 • $83,105,970 $127,937,$23 appraised value of the zone . $86,430,209 • $133,055,336 during each year of its $89,887,417 $138,377,549 $93,482,914 $143,912,651 existence $97,222,231 • • $149,669,157 • $101,111,120 • $155,655,923 •Element 9: $105,155,565 . ; $109,361,787 The duration of the zone • • $��3,736,259 The zone is being initiated in September 2026,with an effective date of October 6, 2026. The zone is set to exist for 21 years with an expiration date set at either December 32, 2047,or the date when all project costs are paid. It should be noted that 2026 is being used as the year to establish taxable value of the zone, howeverthe tax increment and the collection of TIRZ revenues will occur subsequently upon completion of construction completion of the development anticipated no laterthan December3l, 2028. Southlake TIRZ#2 Preliminary Project and Financing Plan I 31 s -. .. 1 Ems: � ; +--, - ,� l �^� y ,.r � ,,,t• -.:'�7�� � m �� wr►..•"JIlY►�J T_ w. � f.. ExhibitA: L it D: Listing of • Description an Mies The ReinvestmentZone '- Exhibit8: Taxlncrement Exhibit E. PublicNotice of ReinvestmentZone a Public Hearing Analysis .� Exhibit C: Proposed Exhibit F. Shivers Farm �� Project Costs Development Plan E(hibitQ-1 ; Tax Increment ��� z SOUTHLAI< "Reinvestment Zone Map of The Araa R I Stroc9 Gcnla'lincs U N��� P Reinvestment Zone oads H Creeks and Streams S n sd�F oit uz z Building Fooiprints T i�Lake Grapevine -- —E DOV Scale 1:10000 D( tou vear Flood Piain 'DOVE RD p""lye O ST.TROPEZ DR rl m EKIRKWOOPBLVD N J Z •I xi W• REL LN rr � r - ,•z_ 3 m c FOX GLENN �`�'Sh; N m A I; z CT 6 v A Q, •A W HIGHLAND ST _ _ E HIGHLAND ST z ❑ z ---- 4 ° Iz - � I 2 - Ofiice�of PerTnrmance Excellence Last Street Revision-8I2812026 Gecgrapiric Information Systems South lake TIRZ#2 Preliminary Project and Financing Plan I 33 Exhibit A-2• Legal Description TIRZ#2 Legal Description of Lot l, Block A: BEING a tract of land situated in the James J.West Survey,Abstract No.1620, City of The Reinvestment Southlake,Tarrant County,Texas, being a portion of a called 43-52o acre tract of land described in the Special Warranty Deeds to The Shivers Family Partnership, Ltd. Recorded in Document No. D198104441 and Document No. D198104442, Official Public Records of ZoneTarrant County,Texas,as modified in the Correction Special Warranty Deeds recorded in Document No. D19827967i and Document No. D198279673,Official Public Records of Tarrant County,Texas,said tract being more particularly described as follows: BEGINNING at the southwest corner of a called 55.30o acre tract of land described in the Special Warranty Deed to Southlake Dove Associates, LLC recorded in Document No. D215094206, Official Public Records,Tarrant County,Texas,and the northeast corner of that called 3.310 acre tract of land designated as Parcel 1oA in the Donation Deed to the State of Texas for State Highway No.114(a Controlled Access Highway facility of a variable width) recorded in Document No.199245141, Official Public Records,Tarrant County,Texas and being the southeast corner of a called 2.502 acre tract of land designated as Parcel 9A in the Correction Deed to the State of Texas recorded in Document No. 200285194,Official Public Records,Tarrant County,Texas,and being in the north line of said 43.52o acre Shivers tract, THENCE North 89°28'39"East with the common line of said 43.52o acre tract and said 55.300 acre tract, a distance of 841.18 feet to a point for corner;THENCE over and across said 43.520 acre tract,the following courses and distances: South 14°49'36"East,a distance of 30.96 feet to a point for corner; South 89028'39"West, a distance of 171.64 feet to a point for corner; South 60°58'S7"West,a distance of 655.75 feet to a point for corner in the east right-of way line of said State Highway No.114 at the beginning of a non-tangent curve to the right with a radius of 2,658.52 feet, a central angle of 03011'00", and a chord bearing and distance of North 21003'40"West,147.68 feet; THENCE along said east right-of-way line,the following courses and distances: In a northwesterly direction with east right-of-way line and said non-tangent curve to the right, an arc distance Of 147.70 feet to a Brass Disk stamped"TEXAS DEPARTMENT OF TRANSPORTATION" found for corner; Southlake TIRZ#2 Preliminary Project and Financing Plan I 34 Exhibit A-2• Legal Description TIRZ#2(Continued) Legal Description of Lot 1, Block A: (Continued) North 05'38'33"West,a distance of 83.69 feet to a Brass Disk stamped"TEXAS The Reinvestment DEPARTMENTOF TRANSPORTATION"found for corner; Zone North 19°28'io"West,a distance of 128.15 feet to the POINT OF BEGINNING and containing a computed area of 130,492 square feet or 2.996 acres of land. Lot 2, Block A: BEING a tract of land situated in the James J.West Survey,Abstract No.1620, City of Southlake,Tarrant County,Texas,and being a portion of a called 43-52o acre tract of land described in the Special Warranty Deeds to The Shivers Family Partnership, Ltd. recorded in Document No. D198104441 and Document No. D198104442, Official Public Records,Tarrant County,Texas as modified in the Correction Special Warranty Deeds recorded in Document No. D19827967i and Document No. D198279673,Official Public Records of Tarrant County,Texas,said tract being more particularly described as follows; COMMENCING at the southwest corner of a called 55.30o acre tract of land described in the Special Warranty Deed to Southlake Dove Associates, LLC recorded in Document No. D215094206,Official Public Records,Tarrant County,Texas,and the northeast corner of that called 3.310 acre tract of land designated as Parcel 1oA in the Donation Deed to the State of Texas for State Highway No.114(a Controlled Access Highway facility of a variable width)recorded in Document No.199245141, Official Public Records,Tarrant County,Texas and being the southeast corner of a called 2.502 acre tract of land designated as Parcel 9A in the Correction Deed to the State of Texas recorded in Document No. 200285194, Official Public Records,Tarrant County,Texas, being in the north line of said 43-52o acre Shivers tract; THENCE with the east right-of-way line of said State Highway No.114,the following courses and distances: South lake TIRZ#2 Preliminary Project and Financing Plan I 35 Exhibit A-2• Legal Description TIRZ#2(Continued) Legal Description of Lot 2, Block A: (Continued) South 19°28'10"East,a distance of 128.15 feet to a Brass Disk stamped"TEXAS The Reinvestment DEPARTMENT OF TRANSPORTATION"found for corner; South 05038'33"East,a distance of 83.69 feet to a Brass Disk stamped"TEXAS Zone DEPARTMENT OF TRANSPORTATION"found for corner at the beginning of a curve to the left, having a central angle of 03048'30",a radius of 2,658.52 feet, a chord bearing and distance of South 28°52'26" East,147.68 feet; In a southeasterly direction, with said curve to the left, an arc distance of 147.70 feet to the POINT OF BEGINNING; THENCE over and across said 43.52o acre tract,the following courses and distances: North 60°58'S7"East,a distance of 655.75 feet to a point for corner; North 89028'39"East,a distance of 171.64 feet to a point for comer,- South 14°49'36"East,a distance of 156.79 feet to a point for corner at the beginning of a tangent curve to the left with a radius of 1,050.00 feet, a central angle of o8025'15", and a chord bearing and distance of South 19002'13"East,154.18 feet; In a southeasterly direction with said tangent curve to the left, an arc distance of 154.32 feet to a point for corner at the beginning of a non-tangent curve to the right with a radius of 64.00 feet, a central angle of 17004'53",and a chord bearing and distance of South 19°22'48" West, 19.01 feet; In a southwesterly direction, with said non-tangent curve to the right, an arc distance of 19.08 feet to a point for corner; South 27055'15"West, a distance of 42.66 feet to a point for corner at the beginning of a tangent curve to the left with a radius of 81.0o feet, a central angle of 24°40'31", and a chord bearing and distance of South 15°34'59"West,34.61 feet; Southlake TIRZ#2 Preliminary Project and Financing Plan I 36 Exhibit A-2• Legal Description TIRZ#2(Continued) Legal Description of Lot 2, Block A: (Continued) In a southwesterly direction with said tangent curve to the left, an arc distance of 34.88 feet The Reinvestment to a point for corner at the beginning of a reverse curve to the right with a radius of 194.00 feet, a central angle of 20058'34",and a chord bearing and distance of South 13°44'01"West, 70.63 feet; ZoneIn a southwesterly direction, with said reverse curve to the right, an arc distance of 71.02 feet to a point for corner; South 52°46'ii"East,a distance of 27.42 feet to a point for corner at the beginning of a non- tangent curve to the right with a radius of i99.5o feet, a central angle of 23024'16", and a chord bearing and distance of South 37°50'38"West, 80.93 feet,- In a southwesterly direction, with said non-tangent curve to the right, an arc distance of 81.49 feet to a point for corner at the beginning of a compound curve to the right with a radius of 300.00 feet, a central angle of 11026'11", and a chord bearing and distance of South 55115'S1"West, 59.78 feet; In a southwesterly direction, with said compound curve to the right, an arc distance of 59.88 feet to a point for comer,- South 60058'S7"West,a distance of 499.37 feet to a point for corner in the east right-of-way line of State Highway No.114(a Controlled Access Highway facility of a variable width), and being at the beginning of a non-tangent curve to the right with a radius of 2,658.52 feet, a central angle of 12006'48", and a chord bearing and distance of North 28°42'34"West, 561.01 feet; THENCE in a northwesterly direction, with said east right-of-way line and with said non- tangent curve to the right,an arc distance of 562.05 feet to the POINT OF BEGINNING and containing a computed area of 414,231 square feet or 9.5og acres of land. Southlake TIRZ#2 Preliminary Project and Financing Plan I 37 Legal Description TIRZ#2(Continued) Exhibit A-2. Lot 3, Block A: Legal Description of BEING a tract of land situated in the James J.West Survey,Abstract No.1620, City of Southlake,Tarrant County,Texas,and being a remaining portion of a called 43-52o acre tract of land described in the Special Warranty Deeds to The Shivers Family Partnership, Ltd. The Reinvestment recorded in Document No. D198104441and Document No. D198104442,Official Public Records,Tarrant County,Texas,as modified in the Correction Special Warranty Deeds Zone recorded in Document No. D198279671.and Document No. D198279673,Official Public Records of Tarrant County,Texas,and being a portion of a called 1.263 acre tract of land described in the Executor General Warranty Deed to Rebecca S. Utley and Debra S. Puryear recorded in Document No. D223o56415, Official Public Records of Tarrant County,Texas, said tract being more particularly described as follows: BEGINNING at the southeast corner of that called 3.310 acre tract of land designated as Parcel 1oA in the Donation Deed to the State of Texas for State Highway No.114(a Controlled Access Highway facility of a variable width) recorded in Document No. 199245141, Official Public Records of Tarrant County,Texas,and being the northeast corner of that called 20,294 square foot tract of land designated as Parcel 11 in the Donation Deed to the State of Texas recorded in Document No. D199245143, Official Public Records of Tarrant County,Texas and the east right-of-way line of State Highway No.11.4(a Controlled Access Highway facility of a variable width)and being the beginning of a non-tangent curve to the right, having a central angle of 12°47'37",a radius of 1,889.86 feet,a chord bearing and distance of North 44°40'29"West, 421.11 feet; THENCE with said east right-of-way line of State Highway No.114,the following courses and distances: Northwesterly with said non-tangent curve to the right, an arc distance of 421.99 feet to a Brass Disk stamped"TEXAS DEPARTMENT OF TRANSPORTATION"found for the beginning of a compound curve to the right with a radius of 2,658.52 feet, a central angle of 03030,43", and a chord bearing and distance of North 36°31'19"West,162.92 feet, In a northwesterly direction, with said compound curve to the right,an arc distance of 162.95 feet to a point for corner; THENCE over and across said 43-52o acre tract,the following courses and distances: South Lake TIRZ#2 Preliminary Project and Financing Plan 1 38 Exhibit A-2• Legal Description TIRZ#2(Continued) Legal Description of Lot 3, Block A: (Continued) North 60°58'57"East,a distance of 499.37 feet to a point at the beginning of a tangent curve The Reinvestment to the left with a radius of 300.0o feet, a central angle of 11026'11", and a chord bearing and distance of North 55"5'51"East,59.78 feet,- In a northeasterly direction, with said tangent curve to the left, an arc distance of 59.88 feet Zone to a point for corner at the beginning of a compound curve to the left with a radius of 199.50 feet, a central angle of 230206", and a chord bearing and distance of North 3705o'38"East, 80.93 feet; In a northeasterly direction, with said compound curve to the left, an arc distance of 81.49 feet to a point for comer,- South 52°46'i1" East,a total distance of 63.33 feet to a point for corner; South 50°24'13"West, a distance of io6.84 feet to a point at the beginning of a tangent curve to the left with a radius of 11o.00 feet, a central angle of 79025'16", and a chord bearing and distance of South 10°41'35"West, 140.56 feet; In a southwesterly direction, with said tangent curve to the left, an arc distance of 152.48 feet to a point for corner, South 29°01'03"East,a distance of 71.65 feet to a point for corner at the beginning of a tangent curve to the left with a radius of 1oo.00 feet, a central angle of 39035'02",and a chord bearing and distance of South 48°48'34"East,67.72 feet,- In a southeasterly direction, with said tangent curve to the left, an arc distance of 69.og feet to a point for corner at the beginning of a reverse curve to the right with a radius of 150.00 feet,a central angle of 38036'49",and a chord bearing and distance of South 49°17'41"East, 99.1g feet, In a southeasterly direction, with said reverse curve to the right, an arc distance of 1o1.og feet to a point for comer,- South 29°59'16"East,a distance of 159.15 feet to a point for corner, North 89028'39"East,a distance of 522.38 feet to a point for comer,- South lake TIRZ#2 Preliminary Project and Financing Plan I 39 Exhibit A-2• Legal Description TIRZ#2(Continued) Legal Description of Lot 3, Block A: (Continued) South oo018'41"East,a distance of 216.42 feet to the POINT OF BEGINNING and containing The Reinvestment a computed area of 401,384 square feet or 9.215 acres of land. ROW Easement: ZoneBEING a tract of land situated in the James J.West Survey,Abstract No.1620, City of Southlake,Tarrant County,Texas,said tract being a portion of a called 1.263 acre tract of land described in the Executor General Warranty Deed to Rebecca S. Utley and Debra S. Puryear recorded in Document No. D223o56415,Official Public Records of Tarrant County, Texas(OPRTCT)and a portion of a called 43.52o acre tract of land described in the Special Warranty Deeds to The Shivers Family Partnership, Ltd. recorded in Document No. D19810444i and Document No. D198104442 as modified in the Correction Special Warranty Deeds recorded in Document No. D198279671 and Document No. D198279673,OPRTCT, said tract of land being more particularly described by metes and bounds as follows: BEGINNING at an"X"-cut in concrete set in the approximate centerline of N.White Chapel Boulevard (a variable width public right-of-way)and being the southeast corner of said 1.263 acre tract; THENCE South 89'43.'16"West,with the south line of said 1.263 acre tract, passing at a distance of 25.53 feet a 1/2-inch iron rod found and passing at a distance of 48.43 feet the northeast corner of Lot 3R2, Block 1 of Parkway Office Center Addition, an addition to the City of Southlake,Texas according to the plat recorded in Instrument No. D224150544, Plat Records,Tarrant County,Texas(PRTCT)and continuing in all a total distance of 55.00 feet to a point for corner, THENCE over and across said 1.263 acre tract and said 43.52o acre tract,the following courses and distances: South 89°41'16"West, a distance of 55.00 feet to a point for comer,- North ol18'41"West, a distance of 81o.32 feet to a point for corner, North 45118'41"West, a distance of 23.85 feet to a point for corner; Southlake TIRZ#2 Preliminary Project and Financing Plan I 40 Exhibit A-2• Legal Description TIRZ#2(Continued) Legal Description of ROW Easement: (Continued) South 89°24'03"West, a distance of 460.5o feet to a point for corner and the beginning of a The Reinvestment non-tangent curve to the left, having a central angle of 16°39'34��,a radius of 339.00 feet and a chord bearing and distance of South 68°35'56"West,98.22 feet; Southwesterly, with said non-tangent curve to the left, an arc distance of 98.57 feet to a Zone point for corner; South 6o°i6'o9"West, a distance of 19.30 feet to a point for corner and the beginning of a tangent curve to the right, having a central angle of 32°28'og", a radius of 81.0o feet and a chord bearing and distance of South 76°30'14"West, 45.29 feet; Southwesterly, with said tangent curve to the right, an arc distance of 45.90 feet to a point for the beginning of a reverse curve to the left, having a central angle of 50°18'52", a radius of 59.0o feet and a chord bearing and distance of South 67°34'52"West, 50.16 feet; Southwesterly, with said reverse curve to the left, an arc distance of 51.81 feet; North 52°46'1i"West,a distance of 59.53 feet to a point for corner and the beginning of a non-tangent curve to the left, having a central angle of 20°58'34", a radius of 194.00 feet and a chord bearing and distance of North 13°44'01"East,70.63 feet; Northeasterly, with said non-tangent curve to the left, an arc distance of 71.02 feet to a point for the beginning of a reverse curve to the right, having a central angle of 24040'31", a radius of 81.0o feet and a chord bearing and distance of North 15°34'Sq"East,34.61feet; Northeasterly, with said reverse curve to the right, an arc distance of 34.88 feet to a point for corner; North 27°55'15"East,a distance of 42.66 feet to a point for corner and the beginning of a tangent curve to the left, having a central angle of 17004'53",a radius of 64.00 feet and a chord bearing and distance of North 19022'48" East,1g.o1 feet; Northeasterly, with said tangent-curve to the left, an arc distance of 1g.o8 feet to a point for the beginning of a non-tangent curve to the right, having a central angle of 8025'15", a radius of 1,050.0o feet and a chord bearing and distance of North 19002'13"West, 154.18 feet; Southlake TIRZ#2 Preliminary Project and Financing Plan 1 41 Exhibit A-2• Legal Description TIRZ#2(Continued) Legal Description of ROW Easement: (Continued) Northwesterly, with said non-tangent curve to the right, an arc distance of 154.32 feet to a The Reinvestment point for corner; North 14'49'36"West, a distance of 187.75 feet to a point for corner in the south line of a Zone called 55.3oo acre tract of land described in the Special Warranty Deed to Southlake Dove Associates, LLC recorded in Document No. D2150942o6, OPRTCT and being in the north line of said 43.52o acre tract; THENCE North 89°28'39"East,with said north line of the 43.S2o acre tract and said south line of the 55.3oo acre tract, passing at a distance of 21.38 feet the west right-of-way line of West Kirkwood Boulevard (a variable width right-of-way), continuing in all a total distance of 103.20 feet to a point for corner; THENCE over and across said 43.52o acre tract,the following courses and distances: South 14049'36"East,a distance of 162.2S feet to a point for corner and the beginning of a tangent curve to the left, having a central angle of 9042'S8", a radius of 95o.00 feet and a chord bearing and distance of South 19041'04"East,16o.90 feet; Southeasterly,with said tangent curve to the left, an arc distance of 161.10 feet to a point for corner, South 53°09'54"East,a distance of 64.63 feet to a point for corner, North 89024'03"East,a distance of 5o8.34 feet to a point for corner, North 44032'41"East,a distance of 28.36 feet to a point for corner; North o°18'41"West, a distance of 327.72 feet to a S/8-inch iron rod with plastic cap stamped "AECOM"found for corner in the north line of said 43.52o acre tract,the southeast corner of Lot 13X, Block 4 of Metairie At Southlake, an addition to the City of Southlake,Texas according to the plat recorded in Instrument No. D221095079, PRTCT and the existing west right-of-way line of said N.White Chapel Boulevard; Southlake TIRZ#2 Preliminary Project and Financing Plan I 42 Exhibit A—2• Legal Description TIRZ#2(Continued) Legal Description of ROW Easement: (Continued) THENCE North 89028'39"East,with the north line of said 43.52o acre tract, a distance of The Reinvestment 44•84 feet to a Mag-Nail with washer stamped"KHA"set for corner in the approximate centerline of N.White Chapel Boulevard; THENCE South o°18'4i"East,with said approximate centerline of N.White Chapel Zone Boulevard, a distance of 999.6o feet to a MAG-Nail with shiner stamped"KHA"set for the northeast corner of said 1.263 acre tract; THENCE South oo°i8'43"East,continuing with said approximate centerline of N.White Chapel Boulevard, a distance of 275.00 feet to the POINT OF BEGINNING and containing a computed area of i83,6o8 square feet or 4.215 acres of land. South lake TIRZ#2 Preliminary Project and Financing Plan I 43 AIIIIIIII Exhibit B: Tax Increment Reinvestment Zone Analysis To fund the public improvements Real Property Tax-2025 Rates Participation outlined in Exhibit C, the City of CITY OF SOUTHLAKE 0.29500000 95% 0.2802500 Southlake will contribute 95 1 of TARRANT COUNTY 0.16620000 0% 0.0000000 TARRANT COUNTY HOSPITAL 0.16500000 0% 0.0000000 the real property increment TARRANT COUNTY COLLEGE 0.11228000 0% 0.0000000 within the Zone and 95916 of the CARROLL LSD 0.92940000 0% 0.0000000 General Fund Sales Tax Revenue 1.68788000 0.28025000 generated from the commercial Personal Property Tax Participation development within the Zone, CITY OF SOUTHLAKE 0.29500000 0% 0.0000000 collected by the City as TARRANT COUNTY 0.18620000 0% 0.0000000 permitted by State Law, not to TARRANT COUNTY HOSPITAL 0.16500000 0% 0.0000000 collectively exceed$18,85o,000. TARRANT COUNTY COLLEGE 0.11228000 0% 0.0000000 CARROLL ISD 0.92940000 0% 0.0000000 1.68788000 0.00000000 Sales Tax Participation City of Southlake General Fund 0.01000000 957 0.0095000 Crime Control and Prevention District(CCPD) 0.00125000 0% 0.0000000 Southlake Parks Development Corporation(SPDC) 0.00500000 0% 0.0000000 Community Enhancement and Development Corporation(CEDC) 0-003750001 0% 0.0000000 0.02000000 0.00950000 Southlake TIRZ#2 Preliminary Project and Financing Plan I 44 AIIIIIIII Exhibit B: Tax Increment Reinvestment Zone Analysis Tax Revenue Projections PARTICIPATION 2026 2027 2028 2029 2030 2031 2032 REAL PROPERTY Taxa6leValue - 76,836,141 79,909,597 83,105,971 66430,209 PV 1 2 3 4 CITY OF SOUTH LAKE 2,623,991 - - - 215,333 223,947 232,994 242,221 TARRANT COUNTY - - - - - TARRANT COUNTY HOSPITAL - - TARRANT COUNTY COLLEGE - - CARROLL ISD - - - - Total 215,333 223,947 232,904 242,221 PERSONAL PROPERTY Taxable Valise - - - - PV CITY OF SOUTHLAKE - - TARRANT COUNTY - - TARRANT COUNTY HOSPITAL - - TARRANT COUNTY COLLEGE - - CARROLL ISD - - Total - - - - SALES TAX Taxable Value 54,707,648 56,695,954 59,171,792 61,536,,664 City of Southlake General Fund 6,333,191 519,723 540,512 562,132 564,617 Crime Control and Prevention District(CCPD) - - - - - SouWake Parks Development Corporation(SPDC) - Commnity Enhancement and Development Corporation[CEDC] - - Total 519,723 640,512 562,132 6KB17 SUMMARY PV CITY OF SOUTHLAKE 8,957,182 735,056 764,456 795,037 826836 TARRANT COUNTY _ - - - - TARRANT COUNTY HOSPITAL - - TARRANT COUNTY COLLEGE - - CARROLL ISD - - Cnme Control and Prevention District(CCPD) - SouWake Parks Development Corporation(SPDC) - - Commnity Enhancement and Development Corporation[CEDC] I - - - Total 735,056 764,458 796,037 826,838 Southlake TIRZ#2 Preliminary Project and Financing Plan I 45 AIIIIIIII Exhibit B: Tax Increment Reinvestment Zone Analysis Tax Revenue Projections(Continued) PARTICIPATION 2033 2034 2035 2036 M7 2038 2039 2040 REAL PROPERTY Taxable Value 89,667,418 93,482,915 97,222,231 101,111,f20 105,155,555 109,361,768 113,735,259 f18,265,710 PV 5 6 7 8 9 10 11 12 CITY OF SOUTH LAKE 2,623,991 251,909 261,986 272,465 283,364 294,698 306,486 319,746 331,496 TARRANT COUNTY - - - - - - TARRANT COUNTY HOSPITAL - - TARRANT COUNTY COLLEGE - CARROLL ISD - - - - - - - - Total 251,909 261,986 212,465 283,364 294,698 306,486 318,746 331,496 PERSONAL PROPERTY Taxable Value - - - - - - - - PV CITY OF SOUTH LAKE - TARRANT COUNTY - TARRANT COUNTY HOSPITAL - TARRANT COUNTYCOLLEGE - CARROLL ISD - Total - - - - - - - - SALES TAX Taxable Value 64,000,2f0 56,560,219 69,222,628 71,991,533 74,87f,194 77,666,042 80,980,684 64,219,91f Ctv of SoLdhiake General Fund 6,333,191 608,002 632,322 657,615 683,920 711,276 739,727 769,316 800089 Crime Control and Prevention District(CC PD) - - - - - - - - - SoLthlake Parks Development Corporation{SPDC] _ Commnity Enhancement and Development Corporation(CEDC) - - - - - - - - - Total 608,002 632,322 657,615 683,920 711,276 739,727 769,316 800,089 SUMMARY FV CIFYOFSOUTHLAKE 8,957,182 659,911 894,308 930,080 967,263 1,005,975 1,046,214 1,088,062 1,13f,585 TARRANT COUNTY _ - - - - - - - - TARRANT COUNTY HOSPITAL - TARRANT COUNTY COLLEGE - CARROLL ISD Crime Control and Prevention District(CC PD) - - - - - - - - - Southlake Parks Deveopment Corporation{SPDC] - Commnity Enhancement and Development Corporation(CEDC) - - - - - - - Total EM 859,911 894,308 930,080 967,283 1,005,975 1,046,214 1,088,062 1,131,585 Southlake TIRZ#2 Preliminary Project and Financing Plan I 46 AIIIIIIII Exhibit B: Tax Increment Reinvestment Zone Analysis Tax Revenue Projections(Continued) PARTICIPATION 2a41 2042 2043 2044 2045 2046 2047 REAL PROPERTY TaxableVa;ue 123,011,138 127,937,824 133,055,331 138,377,550 143,912,652 149,669,158 PV 13 14 15 16 17 18 GROSS CITY OF SOUTH!AKE 2,623.991 344,756 358,646 372,888 387,803 4G3,315 419,448 5,522,311 TARRANT COUNTY - - TARRANT COUNTY HOSPITAL - TARRANT CO U NTY COLLEGE CARROLL ISD - Total 344,756 358,548 372888 387,803 403,316 419,448 PERSONAL PROPERTY Taxable value - - - - - PV GROSS CITY OF SOUTHL KE - - TARRANT COUNTY - - TARRANT COUNTY HOSPITAL - - TARRANT COUNTY COLLEGE - - CARROLL ISD - - Total - - - - - SALES TAX Taxable Value 87,588,707 91,092,255 94,735,946 98,525,384 102,466,399 106,565,055 City of SouHrkake General Fund 6,333.191 832,093 865,375 899,991 935,991 973,431 1,012,355 13 328 489 Crime Contrd and Prevention District(CCPD) - - - - - - - - Southlake Parks Development Corporation{SPDC) Community Enhancement and Development Corporation(CEDC) - - Total 832,093 86k376 899,991 935r991 973,431 1,012,355 SUMMARY PV GROSS CITY OF SOUTHL4tF 8,957,182 1,176,848 1,223,922 1,272,879 1,323,794 1,376,746 1,431,803 18.850.800 TARRANT COUNTY _ - _ TARRANT COUNTY HOSPITAL - - - - - TARRANT COUNTY COLLEGE - CARROLL ISD Crime Contrd and Prevention District(CCPD) Sot6"ke Parks Developrrent Corporation{SPDC) Comn-mdy Enhancement and Development Corporation(CEDC) - Total 1,176,648 1,223,922 1,272,879 1,323,794 1,376,746 1,431,903 Southlake TIRZ#2 Preliminary Project and Financing Plan I 47 AIIIIIIII Exhibit B: Tax Increment Reinvestment Zone Analysis lrneen6ve Term 1 2 3 5 5 7 8 97 TOT AL TAX REVENUE T1RZ Term 1 2 3 4 5 6 7 B 9 10 11 Tamtle Value Per SF 416 433 450 468 407 506 526 547 10 592 616 Quick Service Restaurant Cumulative SF - - - 14,611 14,6ff 14,611 14,611 14,611 14,611 14,611 14,61f 14,611 Taxable 1. Q574,155 6,837,121 1,110,606 7,396,030 1,680,832 7,998,465 0,319,404 8,651,140 "97,185 Retail Taralie Value Per SF 325 336 352 a 6 380 395 411 429 "1 463 481 500 Cunulative SF - - - 18,551 10,551 18,551 16,551 18,551 18,551 18,551 18,551 16,551 Taxable value - - - Q781,889 7,063,166 7,335,292 7,626,703 71933,861 8;251,205 0,581,254 &924,504 4,281,484 Grocer TaxabeU,uaVA.PerSF 125 130 135 141 146 152 i58 164 Taxab 171 178 !85 192 C_cIve SF - - - 35,157 35,157 35,157 11157 35,157 35,157 35,157 31157 35,f57 le Ya lu' 4,."355 5,141,090 6,346,733 5,560,603 MrIT3,027 6014,348 6,2K922 6,505,i19 fi765,327 Office Taxabe VA.Per Unit 375 390 406 422 439 456 474 493 5f3 534 555 577 CUM.ve Units - - - 38,799 30799 38,799 36,799 38,799 38,799 38,799 38,799 36,799 Taxable Value 16,366,349 17,021,003 17,701,943 16,409,917 19,146,314 19,912,766 20,709,653 21,536,999 22,39$479 Restaurant Taxabe VA.Per SF 425 442 460 478 497 517 538 559 582 605 629 654 Cunnlan-9F - - - 39,269 39,269 39,269 39,269 39,269 39,269 39,269 39,269 39,269 Taxffile Value - - - 19,173,221 19,524,150 20,305,116 21,117,320 21,962,013 22,340,494 23,754,113 24,704,278 25,692,449 Hotel T-N.V,1.Per Raam 160,000 166,400 173,056 179,978 187177 f94,661 202451 210,549 218,971 22T 730 236,639 246,313 Cunnlar-Raoim - - - 130 130 130 130 130 130 Q0 130 130 Taxable value 23,397,171 24,333,058 25,306,380 26,319,636 27,371,397 28,466,236 29,604,986 30,709,081 32,020,644 PV CITY OF SOUTHLAKF 2,869,522 - - - 226,667 235.733 245,163 2549E9 2 65 168 275,T75 236.806 298,278 310,209 TAR RANT CCUWY 1,823,827 - - - 143.069 148,792 154,143 160933 167370 174,065 181028 108,269 195,000 TAR RANT COUNTY HOSPITAL 1,616,1 T3 - - - 126,700 131851 137,125 142,610 148314 154,247 160,417 166 fl33 173,507 TARRANT CCUNTYCOLLEGE 1,099,782 - - - 86,272 89,722 93,311 97,044 100,926 104,963 109,161 113-Q 118,0' GARROLL ISD 9,f03,464 - - - 714,115 742,68f1 772,387 803,282 835,414 068,830 903,5a3 939,72' 977,316 Tonal - - 1,296,902 1,348,778 1,402,729 1.M,836 1,517,192 1,577,879 1,640,995 1,706,634 1,774,900 Sales Per SF 690 524 649 675 702 730 759 790 821 854 888 924 Quick Service Restaurant Currufakre SF - - - 14,6i1 14,611 f4,611 14,611 14,611 14,6f1 14,611 14,611 14,611 Cunulak-Sales - - - 9,661,233 10,255,662 10,665,909 1f,092,546 f1,536,248 11,997,697 12.477,605 12,976,710 13,495,77E Retail Sales Per SF 590 520 541 562 565 600 633 659 684 712 740 770 Cumufah-SF - - - 18,551 18,551 18,551 18,551 18,551 18,551 16,551 18,551 18,551 Cunulakue Sales - - - 10,433,676 10,851,023 11,285,0fid 11,736,467 f2,205,925 12,894,162 f3,201,929 13,736,006 14,279,206 Grocer Sales Per SF 200 206 216 225 234 243 253 263 274 265 296 308 Cunufatire SF - - - 35,157 35,157 35,157 35,157 35,157 35,157 35,157 35,157 35,157 Currul.M Sales - - - 7,909,369 8,225,743 8,554,773 8,996,964 9,252,643 9,522,956 0,007,875 10,408,190 10,824,517 Restaurant Sales Per SF 600 524 649 675 702 730 759 790 821 854 888 924 Cunufakre SF - - - 39,269 39,269 39,269 39,269 39,269 39,269 39,269 39,259 39,269 Curtulkve Sales - - - 26,503,371 27,563505 28,666,046 29812,686 31,005,195 32,245,403 33535219 34,976,628 36271,693 Cilyof Sou6dake General Fund - - - 547076 560,960 591,718 615,387 640,002 565,602 692,226 719,915 746,712 Crirre Cmrrod and Prevention Dis6icf(CCPD) - - - 68,385 71,120 73,965 76,923 00,000 83,200 66,528 8$989 93,589 Sou0iake Parks Develcl-nt Corporation(SPDC) - - - 273,538 284,460 295,850 307,693 320,001 332,801 346,113 359,958 374,356 Cam dy Ert--rt and Derelopment Corporabon(CEDC) - - - 205,154 213,360 221,894 230,770 240,001 249,601 259,5B5 269,m 280,757 TBfaf - - 1,094,153 1,137,919 1,183,436 1,230,773 1,260,O04 1,331,204 1,384453 1,439,831 1,497,424 South lake TIRZ#2 Preliminary Project and Financing Plan 1 48 AIIIIIIII Exhibit B: Tax Increment Reinvestment Zone Analysis TOTAL TAX REVENUE -?--e,,, 12 13 15 ;6 17 fa 19 20 21 Ta.M Value Per SF "0 666 693 "0 749 779 1310 843 876 912 Quick Service Restaurant Cumlatve sT 14.614 14,611 14.611 14,611 1g611 fd,6" f4,611 14,611 14611 14,611 Taxable Value 9,357,073 9,731,356 10,120,610 10,525,434 10,946,452 1i,384,3f0 11,839,682 12,313,269 i$805,11M 13,318,032 Retail Taxabe Value Per SF 520 541 563 585 609 633 658 685 712 741 Cunulatve SF 18,551 18,551 l6.551 18,551 16551 18,551 18,551 16,551 18,551 18,551 Taxable Value 9,652,743 10,038,853 10,44Q407 10,958,023 11,292,344 11,744,038 12,213,800 12,702,352 13,210,446 13,738,864 Grocer T-Lis Value Per SF 200 208 216 225 234 243 253 263 274 285 Cunulatve SF 35.157 35,157 35,157 35,157 35,157 35.157 35,157 35,157 35.157 35,157 Taxable Value 7,035,936 7,317,374 7,610,069 7,914,47i $231,050 0,660,292 8.902,704 9,269,812 9,629,165 10,014,331 Office Tamlie Value Per Unt 600 624 649 675 702 730 760 790 822 855 Cuculatve Units 38.799 38,799 36.799 38,799 36,799 38,799 38,799 36,799 38.799 38,799 Taxable Value 23,294,419 24,226,196 26,196,243 26,203,063 27,251,i75 20,341,222 29,47071 30,663,066 31,600,020 33,166,221 Restaurant T-Ne Value Per SF 660 708 736 765 796 628 661 895 931 968 Cumolatve SF 39269 39,269 39.269 39,269 39,269 39269 39,269 39,269 39269 39,269 Taxable Value 26,720,147 27,788,953 26,900,511 30,066,531 31,268,793 32,609,1" 33,009,610 35,161,89i 36,668,366 38,031,101 Hotel T-Us Value Per Rao. 256,165 266,412 277.066 288,151 299,677 311,664 324,131 337096 350,580 364,603 Cunulatve Room 130 130 130 130 130 130 130 130 130 130 Taxable Value 33,301.470 34,633,529 36,019,870 37,459,625 38,958,010 40,616,330 42,136,984 43,822,463 t5,S75,361 47,398,376 PV GROSS CRYOFSOUTHVdKE 2889,522 322,617 335,522 348,943 362,%1 3T7,417 392,513 408214 424,542 441,524 459,185 6,272,144 TARRANT COUtl11' 1,823,827 203,632 211,777 229,248 229,{)58 238,220 247,749 257,659 267,965 278,684 289,831 3,958,892 TARRANT COUNTY HOSPITAL 1'616,113 180,44T 187,665 195,171 202,978 211,U97 219,541 228,323 23T,456 246,954 256,032 3,506,148 TARRANT COUN YCOLLEGE 1,099,782 122,791 127,703 132,811 138,124 1143,649 149,395 155,370 161,585 168,949 174,770 2,387,242 CARROLL ISD 9,103,464 1,016,408 1p57,065 1.099,347 1,143,321 1,189,054 1,236,616 1,206,981 1,33T,524 1,391,025 1,446,666 19,760,443 Total 1,845,696 1,919,732 1,996,621 2,076,302 2,159,437 2,245,814 2,335,647 2,429,013 2,526,236 2,627,285 SA 2047 Sales%,SF 961 999 1,039 1,081 1,124 1.169 1,215 1,264 1,315 1,367 Quick Service Restaurant Currulatve SF 1.1,611 14,611 14,611 14,611 14,611 14,611 14,611 14.611 14,611 14,611 CumulatW Sales 14,035,609 14,597,033 15,180,915 15,788,151 16,419,677 17,076,464 17,759,523 16,469,904 19,208,700 19,977,048 Retail Sales Per SF 801 633 866 900 936 974 1,013 1,053 1,096 1,139 Cunulatve SF 18,551 18,551 16.551 18,551 18,551 18,551 18,551 16.551 18,551 18,551 Cunulat-Sales 14,650.374 15,444,389 16,062.165 16,704,651 17,372,838 18,067,751 18,790,461 19.542,080 20,323,763 21,136,713 Grocer Sales Per SF 320 333 346 360 375 390 405 421 436 456 Currulatve SF 35,157 35,157 35.157 35,157 35,157 35,157 35,157 35,157 35,157 35,157 Currulatve Sales 11,257.498 11,707,798 12176.110 12663,154 13,169,680 13,696,468 14,244,326 14,814,099 15,40$663 16,022,930 Restaurant Sales Per SF 961 999 1,039 1,081 1,124 1.169 1,215 1,264 1.315 1,367 Cumulat-SF 39,269 39,269 39,269 39,269 39,269 39.269 39,269 39,269 39,269 39,269 Cunoktve Sales 37,722561 39,231,463 40.800721 42,432,750 44,130,060 45,895263 47,731,073 49,640,316 51,625.929 53,690,966 GRO55 CAyof Soulhlake Gereral Fund 778,660 809,807 842,199 075,887 910,923 947,359 985,254 1,024,664 1,065,651 1,108,277 15,136,279 Crime Control and Prevention Diarist(CCPD) 97,333 101,226 105.275 109,486 113,865 118.420 123,157 128,083 133,206 138,535 1,892,285 Snubiake Parks 6evelopntent Corporator(SPDC) 389,330 404,903 421,100 437,944 455,461 473,680 492,627 51Z332 532,625 554,138 7'569,139 Corn-ity Enhancement and De lcpmerrt Corporation(CEDC) 291,998 303,678 315.825 328,458 341,596 355260 369,470 384249 399,619 415,604 5,676,855 Total 1,667,321 1,619,614 1,664,398 1,161,774 1,821,846 1,694,719 1,970,600 2,049,320 2,131,301 2,216,553 South lake TIRZ#2 Preliminary Project and Financing Plan I 49 Exhibit C: Developer Proposed Project Costs Proposed Project Costs - TIRZ #2 Public Utilities $ 3,526,807 19% Water Facilities and Improvements, Sanitary Sewer Facilities and Improvements, Storm Water Facilities and Improvements Street and Intersection Improvements $ 4,344,867 23% Open Space, Park and Recreation Facilities and $ 1,576,162 8% Improvements, Public Facilities and Improvements Professional Services Costs $ 2,348,920 12% Economic Development Grants $ 6,864,744 36% Administrative Costs $ 188,500 1% Total $ 18,850,000 100% The Administrative Costs shown on page 2 6 reflect the City's administrative costs consisting of an additional s511,Soo that are associated with the implementation of the zone.That number is not reflected on this chart and only shows the developers administrative costs as J.it relates to the total incentive amount of s18.85 million. South lake TIRZ#2 Preliminary Project and Financing Plan I 50 Exhibit D: Listing of Southlake TIRZ #2 Properties '= Account No. • OwnerAddress Owner 1 0o N.White Chapel Blvd. 8. 2 6020 SHIVERS FAMILY PTNRSHIP 180o N.White Chapel Blvd. South lake TX 60 2 9 P 3 37 4 4 LTD p 7 9 180o N.White Chapel Blvd. 1.10 6136508 UTLEY REBECCA S and 1735 Shady Oaks Dr. Southlake,TX 76092 PURYEAR DEBRA S There are currently 2 parcels within Tax Increment ReinvestmentZone#2, Property ID 4246020 owned byShivers Family Partnership LTD and Property ID 6136.508 owned by Rebecca S Utley and Debra S Puryear.The property will be replatted and the base value will need to be verified by Ta rra n t Co un ty App ra is a I District before th e TIRZ re ven ue collections. Southlake TIRZ#2 Preliminary Project and Financing Plan I 51 Exhibit E• In addition to the public hearing notification advertised in the Fort Worth Star Te leg ram shown below, notification letters were also sent to all property owners of record within Public Notice the Zone. PUBLIC HEARING NOTICE NOTICE OF PUBLIC HEARING OF THE CITY COUNCIL OF THE CITY OF SOUTHLAKE, TEXAS TO CONSIDER THE ADVISABILITY OF THE CREATION OF REINVESTMENT ZONE NUMBER TWO, CITY OF SOUTHLAKE, TEXAS FOR TAX INCREMENT FINANCING PURPOSES PURSUANT TO CHAPTER 311, TEXAS TAX CODE NOTICE IS HEREBY GIVEN THAT the City Council of the City of Southlake, Texas (the "City"), pursuant to Chapter 311.003 Texas Tax Code, as amended, (the "Act'), will hold a public hearing at 5:30 p.m. on Tuesday, October 6, 2026, at Southlake Town Hall, 1400 Main Street, Southlake, TX 76092, for the purpose of considering the creation of Reinvestment Zone Number Two, City of Southlake,Texas, located within the boundaries of the City, and its benefits to the City and to property located in the zone. All persons are invited to attend the hearing and speak for or against the creation of Tax Increment Reinvestment Zone Number Two, City of Southlake, Texas, the proposed boundaries, or the concept of tax increment financing. Written or oral statements will be considered. The proposed boundaries are contiguous and consist of approximately 25.935 acres located north of Highway 114 and west of N White Chapel Boulevard. A more detailed legal description and boundary map of the proposed Reinvestment Zone Number Two, City of Southlake, Texas, are on file and open for public inspection in the office of the City Secretary at Southlake Town Hall, 1400 Main Street, Southlake, TX 76092. Questions or requests for additional information may be directed to the Daniel Cortez at the City of Southlake, dcortez@ci.southlake.tx.us. Southlake TIRZ#2 Preliminary Project and Financing Plan I 52 Exhibit F: Shivers Farm Development Plan r I i . CIIY SITE PLRN NOTES L 1 I I I I I _ �, •1`�- 1-•�� L , I I I I I ii II I I 7 e, .l A1-�-- - C Icu �I•• L•' �- - -�' •E Ia1KYwOD$VI) ''' ." `�� -` • � ffa- �y 10 Ii X I 1 1_J_- .......--..a.... _ �t � ! x VICINIWI = •� 1 _ ' f, Ili lu i - 1, { _ f 41 it "'^gig �, t' j Y SRE PLAN a -.:: ..•'` i� L I TRADEMARK SOUTHLAKE W CITY CASE NO.ZA25-0045 ~ .^�•^^ - wowr*�oacraocrsasnzs w Off South lake TIRZ#2 Preliminary Project and Financing Plan I 53 Exhibit F: Shivers Farm Development Plan 777\ - Ali/ if• `w L v L • N IV- t South lake TIRZ#2 Preliminary Project and Financing Plan I 54 _ Ly NORTH S C 1 4 LLIIL- i ii ■i 111E 1 - 0 WE rw 0 ■m El V k �6-ai Mori'- ML 1 PRELIMINARY PROJECT AND "`i -�� ,%EPTEM BER 15, 2026 9 � CITY OF r ' SOUTHLAKE