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A. Conduct a public hearing under Chapter 311 of the Texas Tax Code to consider approving an amended Project Plan and Reinvestment Zone Financing Plan for Reinvestment Zone Number Ten, City of Mesquite, Texas, (Polo Ridge) (the "Zone"), reducing the boundaries and geographic area of the Zone, and amending and restating the ordinance creating the Zone and other related matters.
B. An ordinance approving an Amended Project Plan and Reinvestment Zone Financing Plan for Reinvestment Zone Number Ten, City of Mesquite, Texas, (Polo Ridge) (the "Zone"), reducing the boundaries and geographic area of the Zone, and amending and restating Ordinance No. 4525 creating the Zone; the reduced boundaries and geographic area of the zone to consist of approximately 805.79 acres generally located south of FM 740, west of FM 2757 and north of Kelly Road in Kaufman County, Texas, and other related matters.
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On December 4, 2017, the City Council adopted Ordinance No. 4525 designating 822.1 acres in the City's extraterritorial jurisdiction (ETJ) as Reinvestment Zone Number Ten (Zone) to facilitate the proposed Polo Ridge Ranch residential development.
On September 17, 2018, the City Council adopted Ordinance No. 4601 approving a Project Plan and Reinvestment Zone Financing Plan, and also passed Resolution No. 54-2018 to dedicate 51 percent of the ad valorem tax increment within the Zone to reduce a portion of the assessments levied on property within the Polo Ridge Public Improvement District No. 2 (PID) for a period of 31 years up to a maximum of $29,740,198.
In early October, City staff identified a potential conflict with the approximate location of the ETJ boundary between Mesquite and Seagoville, and a survey was completed to locate the ETJ boundary line in question. The survey showed approximately 16.28 acres within the Seagoville ETJ, and on March 18, 2019, the City Council passed Resolution No. 27-2019, to reduce the PID boundary to 805.79 acres so that the PID l...
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