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10 - Tax Increment Financing Reinvestment Zone Number 1 - Project & Financing PlanItem No. 10 TO: Mayor & City Council Gene Anderson, Interim City Manager FROM: Carla Easton, PE, Director of Engineering Planning & Community Development SUBJECT: TAX INCREMENT FINANCING — 2019 Downtown TIRZ DATE: November 4, 2019 BACKGROUND: Tax Increment Financing (TIF) is a commonly used method for setting aside funds that can be used to develop or redevelop targeted areas within cities, especially downtowns. This funding mechanism works by allocating the incremental tax increase resulting from property improvements within the designated zone to be spent on public infrastructure within the zone. Once the Tax Increment Reinvestment Zone (TIRZ) is created, the incremental increase earned each year, as compared to the base tax year, is set aside to be used to fund projects within the TIRZ rather than going to the general fund. A city can decide what percentage of the tax rate to set aside in the fund, and other taxing entities such as the county can participate. Paris has a large, historic downtown with many infrastructure needs that often deter its redevelopment. By creating a TIRZ that includes the downtown area as well as other developable areas of town, we will have a better opportunity of earning the needed funds over time to be reinvested in the downtown. STATUS OF ISSUE: Staff has worked with consultant Larry Cline to develop a preliminary financing plan for a 30 -year TIRZ. The plan includes development projections to estimate the earnings over the 30 year period, and also provides a list of projects to be funded. The first step to implementing this plan is to hold a public hearing and adopt an ordinance designating the TIRZ boundary. Attached for your consideration is the Reinvestment Zone Number 1 Preliminary Project and Financing Plan. Mr. Cline will be available at the council meeting to present this information and answer any questions. BUDGET: NA. RECOMMENDATION: Approval of an ordinance adopting Reinvestment Zone Number 1 Boundary, Preliminary Project, and Financing Plan. ORDINANCE NO. AN ORDINANCE DESIGNATING A CERTAIN AREA AS TAX INCREMENT FINANCING REINVESTMENT ZONE NUMBER ONE, CITY OF PARIS, TEXAS, ESTABLISHING A BOARD OF DIRECTORS FOR SUCH REINVESTMENT ZONE, MAKING CERTAIN FINDINGS, AND OTHER MATTERS RELATED THERETO. WHEREAS, the City Council of the City of Paris, Texas, (the "City"), desires to promote the development of a certain contiguous geographic area within its jurisdiction by the creation of a reinvestment zone, as authorized by the Tax Increment Financing Act, Chapter 311 of the Texas Tax Code, Vernon's Texas Codes Annotated (the "Act"); and WHEREAS, in compliance with the Act, the City has called a public hearing to hear public comments on the creation of the proposed reinvestment zone and its benefits to the City and the property in the proposed reinvestment zone; and WHEREAS, in compliance with the Act, notice of such public hearing was published on October 18, 2019, in The Paris News, a paper of general circulation in the City, such publication date being not later than seven (7) days prior to the date of the public hearing; and WHEREAS, such hearing was convened at the time and place mentioned in the published notice, to wit, on the 11th day of November, 2019 at S:30 p.m. in the City Hall of the City of Paris, Texas, which hearing was then closed; and WHEREAS, the City, at such hearing, invited any interested person, or his attorney, to appear and speak for or against the creation of the reinvestment zone, the boundaries of the proposed reinvestment zone, whether all or part of the territory which is described and attached hereto as Exhibit "A" and depicted on the map attached hereto as Exhibit "B" should be included in such proposed reinvestment zone, the concept of tax increment financing and the appointment of a board of directors of the proposed reinvestment zone; and WHEREAS, all owners of property located within the proposed reinvestment zone and all other taxing units and other interested persons were given a reasonable opportunity at such public hearing to protest the creation of the proposed reinvestment zone and/or the inclusion of their property in such reinvestment zone; and WHEREAS, the proponents of the reinvestment zone offered evidence, both oral and documentary, in favor of all of the foregoing matters relating to the creation of the reinvestment zone, and opponents, if any, of the reinvestment zone appeared to contest creation of the zone; NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS: SECTION 1. That the facts and recitations contained in the preamble of this ordinance are hereby found and declared to be true and correct. SECTION 2. That the City council, after conducting such hearing and having heard such evidence and testimony, has made the following findings and determinations based on the evidence and testimony presented to it: a) That the public hearing on adoption of the reinvestment zone has been properly called, held and conducted and that notice of such hearing has been published as required by law. b) That creation of the proposed reinvestment zone with boundaries as described in Exhibits "A" and "B" will result in benefits to the City, its residents and property owners, in general, and to the property, residents and property owners in the reinvestment zone. c) That the reinvestment zone, as defined in Exhibits "A" and "B", meets the criteria for the creation of a reinvestment zone set forth in the Act in that: 1. It is a contiguous geographic area located wholly within the corporate limits of the Town. 2. The area is predominately open, undeveloped or underdeveloped, and lack of necessary public improvements impairs growth. d) That 30 percent or less of the property in the proposed reinvestment zone, excluding property dedicated to public use, is used for residential purposes, which is defined in the Act as any property occupied by a house which has less than five living units. e) That the total appraised value of all taxable real property in the proposed reinvestment zone according to the most recent appraisal rolls of the City, together with the total appraised value of taxable real property in all other existing reinvestment zones within the City, according to the most recent appraisal rolls of the City, does not exceed 50 percent of the current total appraised value of taxable real property in the Town and in the industrial districts created by the City, if any. f) That the proposed reinvestment zone does not contain more than 50 percent of the total appraised value of real property taxable by a county or school district. g) That the improvements in the reinvestment zone will significantly enhance the value of all taxable real property in the reinvestment zone. h) That the development or redevelopment of the property in the proposed reinvestment zone will not occur solely through private investment in the reasonable foreseeable future. SECTION 3. That the City hereby creates a reinvestment zone over the area described in Exhibit "A" attached hereto and depicted in the map attached hereto as Exhibit "B" and such reinvestment zone shall hereafter be identified as Tax Increment Financing Reinvestment Zone Number One, City of Paris, Texas (the "Zone" or "Reinvestment Zone"). SECTION 4. That there is hereby established a board of directors for the Zone that shall consist of five members. The board of directors of Tax Increment Financing Reinvestment Zone Number One, City of Paris, Texas shall be appointed as follows: a) Five members shall be appointed by the City Council of the City of Paris. The initial board of directors shall be appointed by resolution within sixty (60) days of the passage of this ordinance or within a reasonable time thereafter. All members appointed to the board shall meet the eligibility requirements set forth in the Act. The governing bodies of other taxing units that levy taxes on real property in Tax Increment Financing Reinvestment Zone Number One have chosen not to pay any of their taxes into the Tax Increment Fund and have waived their right to appoint board members. b) The terms of the board members shall be two-year terms. The City Council shall designate a member of the board to serve as chairman and other officers as it sees fit. c) The board of directors shall make recommendations to the City Council concerning the administration of the Zone. It shall prepare and adopt a project plan and reinvestment zone financing plan for the Zone and must submit such plans to the City Council for its approval. The Board of directors shall possess all powers necessary to prepare, implement and monitor such project plan and financing plan for the reinvestment zone as the City Council considers advisable, including the submission of an annual report on the status of the Zone. SECTION 5. That the Zone shall take effect on January 1, 2019 and that the termination of the Zone shall occur on December 31, 2048, or at an earlier time designated by subsequent ordinance of the City Council in the event the City determines that the Zone should be terminated due to insufficient private investment, accelerated private investment, or other good cause, or at such time as all project costs and tax increment bonds, if any, and the interest thereon, have been paid in full. SECTION 6. That the Tax Increment Base for the Zone, which is the total taxable value of all real property located in the Zone, is to be determined as of January 1, 2019, the year in which the Zone was designated a reinvestment zone. SECTION 7. That there is hereby created and established a Tax Increment Fund for the Zone which may be divided into such subaccounts as may be authorized by subsequent resolution or ordinance, into which all Tax Increments, less any of the amounts not required to be paid into the Tax Increment Fund pursuant to the Act, are to be deposited. The Tax Increment Fund and any subaccounts are to be maintained in an account at the City's affiliated depository bank and shall be secured in the manner prescribed by law for funds of Texas cities. In addition, all revenues from the sale of any tax increment bonds and notes hereafter issued by the City, revenues from the sale of any property acquired as part of the tax increment financing plan and other revenues to be dedicated to and used in the Zone shall be deposited into such fund or subaccount from which monies will be disbursed to pay project costs for the Zone or to satisfy the claims of holders of tax increment bonds or notes issued for the Zone. SECTION 8. That if any section, paragraph, clause or provision of this Ordinance shall for any reason be held to be invalid or unenforceable, the invalidity or unenforceability of such section, paragraph, clause or provision shall not affect any of the remaining provisions of this Ordinance. SECTION 9. That the repeal of any ordinance or part of ordinances affected by the enactment of this ordinance shall not be construed as abandoning any action now pending under or by virtue of such ordinance or as discontinuing, abating, modifying, or altering any penalty accruing or to accrue, or as affecting any rights of the municipality under any section or provisions of any ordinance at the time of passage of this ordinance. SECTION 10. That it is the intention of the City Council of the City of Paris that this ordinance, and every provision hereof, shall be considered severable, and the invalidity or partial invalidity of any section, clause, or provisions of this ordinance shall not affect the validity of any other portion of this ordinance. SECTION 11. This Ordinance shall take effect immediately from and after its passage and the publication of the caption, as the law and charter in such cases provide. SECTION 12. That it is hereby officially found and determined that the meeting at which this ordinance was passed was open to the public as required by law, and that public notice of the time, place, and purpose of said meeting was given all as required by Section 551.041, Texas Government Code. PASSED AND ADOPTED on this 11th day of November, 2019, by the City Council of the City of Paris, in regular session, following notice and publication as required by law. Steven J. Clifford, M.D., Mayor ATTEST: Janice Ellis, City Clerk APPROVED AS TO FORM: Stephanie H. Harris, City Attorney Boundary Description for 2019 Tax Increment Reinvestment Zone (TIRZ) 2176 Acres in Lamar County, Texas October 2019 Being approximately 217b acres of land situated within the corporate limits of the City of Paris, Texas, and consisting of five Sub Zones, being further described herein, each zone connected by public right of way or otherwise adjoining property as described herein; Sub Zone 1: NW Industrial Area Being approximately 420 Acres of land situated within the corporate limits of the City of Paris, Texas and being in the J. Ames Survey, A - 28, the W. Driggers Survey, A — 281, the J. Herrington Survey, A — 436 and the F. Morrison Survey, A — 592 and being approximately 1.30 miles, N 64 degrees W from the Downtown Plaza and being bounded on the East by the West right of way of FM 79 / 19'b Street NW, on the North and West by the Southwest right of way the NW Loop 286, and on the South by the South right of way line of Campbell Street; Beginning at a point approximately 1.30 miles, N 64 degrees W from the Downtown Plaza at the of intersection of the South right of way line of Campbell Street and the West right of way line of FM 79 / 19a` Street NW, for the Point of Beginning for Sub Zone 1: NW Industrial Area; Thence Northerly along the West right of way line of FM 79 / 19' St NW, approximately 4,375 feet, to the intersection with the South right of way line of NW Loop 286 / US 82, to a point for a corner; Thence Southwesterly along the Southwest right of way line of NW Loop 286 / US 82, approximately 1.46 miles, to the intersection with the South right of way line of Campbell Street, to a point for a corner; Thence Easterly, following along the South right of way line of Campbell Street, approximately 1,150 feet, to a curve to the right, continuing South along said curve, following said South right of way line of Campbell Street, 255 feet, to a curve to the left, and continuing East along said South right of way line of Campbell Street, approximately 5,400 feet, to the intersection with the West right of way line of FM 79 / 19"' St NW, to the Point of Beginning for Sub Zone 1, containing 420 acres more or less. Save & Except the following parcel as recorded in Lamar County Deed Records (LCDR), Lamar County, Texas: Save & Except all of. 8.247 Acres being, Lot 1, Block A, Potters Industries LLC Addition 355, as recorded in Lamar County Deed Records, CAB. 437 D, dated May 20, 2013, known as Potter Industries, LLC. and as Lamar County Appraisal District (LCAD) Parcel 18922. ROW Tract 1: ROW Connection FM 79 / 191h Street NW Being a strip of right of way, approximately 80 feet in width, for FM 79 / 19th Street NW, beginning at the intersection of FM 79 / 19th Street NW and Campbell Street, and ending at the intersection of FM 79 / 19`h Street NW and West Sherman Street, for a ROW connection from Sub Zone 1 to Sub Zone 2: Downtown Central Area. Sub Zone 2: Downtown Central Area Being approximately 328 Acres of land situated within the corporate limits of the City of Paris, Texas and being in the A. Jarman Survey, A-479 and the L. Rattan Survey, A-778, and being approximately 1. 18 miles, S 77 degrees W of the Downtown Plaza and being bounded by public right of way described as follows: Beginning at a point approximately 1. 18 miles, S 77 degrees W of the Downtown Plaza, said point being the intersection of the South right of way line of West Sherman Street and the West right of way line of FM 137 / 1911 Street SW; Thence Southerly along the West right of way line of FM 137 / 19th Street SW, approximately 1,197 feet, to the intersection with the North right of way line of West Washington Street, to a point for a corner; Thence Easterly along the North right of way line of West Washington Street, approximately 4,210 feet, to a curve to the left, continue, following along the West right of way for 7th Street NW for approximately 200 feet, to the projected intersection of the North right of way of West Washington Street & 7th Street NW, continuing Easterly along said North right of way of West Washington Street, approximately 850 feet, to the intersection with the West right of way line of 4th Street SW, to a point for a corner; Thence Northerly along the West right of way of 4' Street SW, approximately 1,050 feet, to the intersection with the North right of way of West Sherman Street, to a point for a corner; Thence Easterly along the North right of way line of West Sherman Street, approximately 1,960 feet, to the intersection with the West right of way line of 3rd Street SE, to a point for a corner; 2 Thence Northerly along the West right of way line of Yd Street SE, approximately 545 feet, to the intersection with the North right of way line of East Austin Street, to a point for a corner; Thence Easterly along the North right of way line of East Austin Street, approximately 988 feet, to the intersection with the West right of way line of 6h Street SE, to a point for a corner; Thence Northerly along the West right of way line of 61 Street SE, approximately 620 feet, to the intersection with the South right of way of Clarksville Street / US 271, to a point for a corner; Thence Westerly along the South right of way line of Clarksville Street / US 271, approximately 1,250 feet, to the intersection with the West right of way line of Church Street, to a point for a corner; Thence Northerly along the West right of way line of Church Street, approximately 1,242 feet, to the intersection with the South right of way line of Pine Bluff Street, to a point for a comer; Thence Westerly along the South right of way line of Pine Bluff Street, approximately 260 feet, to the intersection with the West right of way of 1' Street NE, to a point for a corner; Thence Northerly along the West right of way line of 1't Street NE, approximately 2,685 feet, to the intersection with the South right of way line of East Santa Fe Street, to a point for a corner; Thence Westerly along the South right of way line of East Santa Fe Street, crossing N Main Street / US 271, and continuing along the South right of way line of West Santa Fe Street, approximately 495 total feet, to the intersection with the East right of way line of 11 Street NW, to a point for a corner; Thence Southerly along the East right of way line of 11, Street NW, approximately 2,650 feet, to the intersection with the South right of way line of Graham Street, to a point for a corner; Thence Southwesterly along the South right of way line of Graham Street, approximately 575 feet, to the intersection with the East right of way line of 3'd Street NW, to a point for a corner; Thence Southerly along the East right of way line of 3rd Street NW, approximately 400 feet, to the intersection with the South right of way line of West Houston Street, to a point for a corner; K Thence Westerly along the South right of way line of West Houston Street, approximately 415 feet, to the intersection with the East right of way line of 4a' Street NW, to a point for a corner, Thence Southerly along the East right of way line of 41 Street NW, approximately 290 feet, to the intersection with the South right of way line of Bonham Street / US 82 W, to a point for a corner; Thence Westerly along the South right of way line of Bonham Street / US 82 W, approximately 2,255 feet, to the intersection with the East right of way line of the abandoned Kiamichi Railroad, said point also being the NWC of the 2.289 Acre, Tract X13, A. Jarman Survey, Abstract — 479, also known as 1125 Bonham Street, also known as LCAD Parcel 120212, to a point for a corner; Thence Southerly along the said West boundary line of Tract X13, A-479, same being the East right of way of the abandoned Kiamichi railroad, approximately 515 feet, to the SWC of said Tract X13, same being in the North boundary line of a certain 2.77 acre tract belonging to the Greater Paris Development Foundation Inc., described as Tract X12, A-479, A. Jarman Survey, also known as LCAD Parcel 120210, to a point for a comer; THENCE Westerly along said North line of Tract X12, A-479, approximately 45 feet, to the NWC of said Tract X12, to a point for a corner; Thence Southerly along the West boundary line of said Tract X12, A-479, approximately 634 feet, to the SWC of said Tract X12, and continuing on a projected line to the intersection with the South right of way line of West Sherman Street, to a point for a corner; Thence Westerly along the South right of way line of West Sherman Street, approximately 2,815 feet, to the intersection with the West right of way line of 191' Street SW / FM 137, to the Point of Beginning and containing 328 acres more or less, Save and Except the following described tracts: Save & Except the following Tracts; Tract 1: The Paris Retirement Village — C.B. 308, Lot 1, Block A, PARIS RETIREMENT VILLAGE, TRACT 1, ACRES 9.292, being located at the northwest corner of 13th Street SW and West Washington Street, as Plat recorded in LCDR CAB 382-B & 382-C. Tract 2: FA Approximately 22.7 Acres bounded on the north by West Sherman Street, the East by 7a' Street SW, the South by West Washington Street, and the West by City of Paris Block 13, and containing all of. City of Paris Block 133, Lots 1 through 19, and City of Paris Block 152, Lots 1 through 7, and City of Paris Block 153, also known as the George Wright Homes, and City of Paris Block 308, Lot PT 2. ROW Tract 2: mmmmMry„mm m W Connection BUS 271 / North Main Street Being a strip of right of way, approximately 60 feet in width, for BUS 271 N / North Main Street beginning at the intersection with Santa Fe Street and BUS 271 N / North Main Street and ending at the intersection with Center Street, for a ROW connection of Sub Zone 2 : Downtown Central Area to Sub Zone 3: North Loop 286 Area. Sub Zone 3 North Looe 286 Area Being approximately 250 Acres of land situated within the corporate limits of the City of Paris, Texas and being entirely within the R. Russell Survey, A-786, and being approximately 1.3 miles North of the Downtown Plaza, being bounded on the West kLg Kiamichi Railroad ri ht of wa , and on the North by the South right of way of NE & NW Loop 286, and on the South by the North right of way line of Clement Road.; Beginning at a point of intersection of the West right of way line of BUS 271 N / N Main Street and the North right of way line of Clement Road; Thence Easterly along the North right of way line of Clement Road, approximately 5,100 feet, to the intersection of the North right of way line of Clement Road and the Southwest right of way of NE Loop 286, to a point for a corner; Thence Northwesterly, along the Southwest right of way line of NE Loop 286, at approximately 5,600 feet, passing the centerline of BUS 271 / N Main Street, and continuing Westerly along the South right of way of NW Loop 286, for approximately 1,500 feet to the NWC of CITY OF PARIS, BLOCK 251, LOT PT OF 27-A, PT OF 27-B & ALL OF 29, A786 RUSSELL SUR, 2300 N MAIN & 185 NW LOOP 286, ACRES 17.9023, also known as LCAD parcel 400881; to a point for a comer; Thence Southerly, approximately 925 feet, along the West boundary line of said C= OF PARIS, BLOCK 251, LOT PT OF 27-A, PT OF 27-B & ALL OF 29, A786 RUSSELL SUR, 2300 N MAIN & 185 NW LOOP 286, ACRES 17.9023, to a point for an inside corner; F Thence Westerly, approximately 80 feet, along the North boundary line of, CITY OF PARIS, BLOCK 251, LOT 26 & 30, ACRES 16.0, also known as LCAD parcel 59483, to the NWC of same, to a point for a corner; Thence Southerly, approximately 1,160 feet, along the West boundary of CITY OF PARIS, BLOCK 251, LOT 26 & 30, ACRES 16.0, to the SWC of same, to a point for a corner; Thence Easterly, along the South boundary of CITY OF PARIS, BLOCK 251, LOT 26 & 30, ACRES 16.0, at approximately 628 feet, passing the SEC of same, said point also being the SWC of CITY OF PARIS, BLOCK 251, LOT 17, A786 RUSSELL SURVEY, 35 DRIVE-IN AVE, ACRES 1.0, also known as LCAD parcel 53616, continuing along the South Boundary line of same, approximately 230 feet, for a distance of approximately 858 feet, to the SEC of said Lot 17, to a point for a corner; Thence Northerly, approximately 175 feet, along the East boundary line of said Lot 17, to the NEC of same, also being in the South right of way of Drive -In Avenue, to a point for an inside corner; Thence Easterly, approximately 655 feet, along the South right of way line of Drive -In Avenue, to the intersection with the West right of way of BUS 271 / N Main Street, to a point for a corner; Thence Southerly, approximately 340 feet, along the West right of way of BUS 271 / N Main Street to a projected point, 60 feet from and perpendicular to the intersection of the East right of way of BUS 271 / N Main and the North right of way of Clement Road, to a point for a corner; Thence Easterly, approximately 60 feet, crossing the right of way of BUS 271 N / North Main Street, to the intersection of the East right of way line of BUS 271 N / North Main Street and the North right of way line of Clement Road and Point of Beginning for Sub Zone 3: North Loop 286 Area, containing 257 Acres more or less, SAVE & EXCEPT the following described tracts: SAVE & EXCEPT the following Tracts: Tract 3: The City of Paris Public Pool being further described by Lamar County Appraisal District Parcel 59521 having a legal description CITY OF PARIS, BLOCK 276, LOT 6, LOOP 286 NE 6TH CLEMENT RD, being located near the intersection of Loop 286 at Clement Road; and Tract 4: 31 Lamar County Appraisal District Parcel 55681 having a legal description CITY OF PARIS, BLOCK 276, LOT 4, A786 R RUSSELL SURVEY, 1680 NE LOOP 286, ACRES 1.71, being located at the intersection of Loop 286 at Clement Road. ROW Tract 3: ROW Connection Old Bonham Road Being a strip of right of way, approximately 50 feet in width, known as Old Bonham Road, beginning at the intersection with FM 137 / 19'h Street NW and ending at the intersection of the South right of way line of Old Bonham Road and the Northeast corner of LCAD 18667, described as CITY OF PARIS, BLOCK 309, LOT 16, S SIDE OLD BONHAM RD, ACRES 21.37. for a ROW connection of Sub Zone 2: Downtown Central Area to Sub Zone 4: SW Industrial Area. Sub Zone 4: SW Industrial Area Being approximately 338 Acres of land situated within the corporate limits of the City of Paris, Texas and being in the I. Cruise Survey, A-162 and the A. Jarman Survey, A-479 and being approximately 2.45MMMmiles., 5 76 de gees W from the Downtown Plaza and being bounded on the West by the East right of way of SW Loop 286, and on the South, East & North by private property boundaries as described herein: Beginning at a point, approximately 2.45., miles,,ro„ S..76 dekrees . W from the Downtown Plaza, being the intersection of the South right of way line of Old Bonham Road and the East right of way of SW Loop 286, and being the NWC of CITY OF PARIS, BLOCK 309, LOT PT OF 22, OLD BONHAM RD & LOOP 286, ACRES 11.245, known as TXDOT Yard, also known as LCAD parcel 102819 & 18673, for the Point of Beginning for Sub Zone 4: SW Industrial Area; Thence in a Southeasterly direction, at approximately 1,995 feet, passing the most Southerly corner of TXDOT Yard, CITY OF PARIS, BLOCK 309, LOT PT OF 22, OLD BONHAM RD & LOOP 286, ACRES 14.307, also known as LCAD parcels 102819 & 18673, and continuing along said SW Loop 286 right of way, approximately 2,195 feet to the most Southerly SWC of CITY OF PARIS, BLOCK 309, LOT 20, BETWEEN LOOP & OLD BONHAM RD, ACRES 85.478, also known as LCAD parcel, 18671, also being in the North right of way line of the Union Pacific Railroad, for a distance of approximately 4,190 feet, to a point for a comer; Thence Easterly, approximately 1,010 feet, along the South boundary line of said CITY OF PARIS, BLOCK 309, LOT 20, to the SEC of said CB 309, Lot 20, to a point for a corner; 7 Thence Northerly, approximately 2,245 feet, along the East boundary line of said CB 309, Lot 20, to the SWC of CITY OF PARIS, BLOCK 309, LOT 16, S SIDE OLD BONHAM RD, ACRES 21.37, also known as LCAD parcel 18667, to a point for an inside corner; Thence Easterly, approximately 1,450 feet, along the South boundary line of said CB 309, Lot 16, to the SEC of same, to a point for a corner; Thence Northerly, approximately 1,225 feet, along the East boundary line of said CB 309, Lot 16, to the NEC of said CB 309, Lot 16, same being in the South right of way of Old Bonham Road and a point of connection to ROW Tract 3 herein described, continuing across the 50 foot right of way of Old Bonham Road to a point in the North right of way of said Old Bonham Road and being in the South boundary line of CITY OF PARIS, BLOCK 213, LOT PT OF 9, S SIDE WEST SHERMAN & E SIDE 25TH SW, ACRES 8.04, also known as LCAD parcel 107706, to a point for a corner; Thence Westerly, approximately 615 feet, along the South boundary line of said CB 213, Lot Part of 9, also being along said North right ofway line of Old Bonham Road, to the intersection with the West right of way line of 25a' Street SW, to a point for a corner; Thence Northerly, approximately 650 feet, along the West right of way of 25a` Street SW to the intersection with the South right of way of Brame Street, also being the NEC of PORTER'S 2ND ADDITION, BLOCK D, LOT 5, 2515 W BRAME, also known as LCAD parcel 19325, to a point for a comer; Thence Westerly, approximately 855 feet, along the South right of way of Brame Street, to the NWC of PORTER'S 2ND ADDITION, BLOCK D, LOT 12-A, 13 TRU 17, 2675 W BRAME, also known as LCAD parcel 19329, and being in the most Westerly East boundary line of CITY OF PARIS, BLOCK 328, LOT 6, A479 JAMAR SURVEY 2704 OLD BONHAM RD, ACRES 57, also known as LCAD parcel 18869, to a point for a comer; Thence Northerly, approximately 1,020 feet, along said boundary line of CB 328, Lot 6, to the most Northerly NEC of same, to a point for a corner; Thence Westerly, approximately 820 feet, following the North boundary line of said CB 328, Lot 6, to the most Northerly NWC of same, also being in the East right of way of 29t' Street SW and being the SWC of SPERRY'S 1 ST ADDITION, BLOCK 9, LOT 4-E, 275 29TH SW, also known as LCAD parcel 19663, to a point for a comer; Thence Southerly, approximately 540 feet, along the East right of way of 29'" Street SW, to the intersection with the South right of way of West Sherman Street, to a point for a corner; Ej Thence Westerly, approximately 1,775 feet, along the South right of way of West Sherman Street, to the intersection with the West right of way of 34' Street SW, also being the NWC of STALLINGS ADDITION, BLOCK A, LOT 1, ACRES 1.406, also known as LCAD parcel 125606, to a point for a corner; Thence Southerly, approximately 245 feet, along the West boundary of said Stallings Addition, Block A, Lot 1, passing the SWC of same, and continuing Southerly, approximately 13 feet, to the NEC of CITY OF PARIS, BLOCK 328, LOT 3, E SIDE LOOP 286 SW, ACRES 37.49, also known as LCAD parcel 18866, a distance of approximately 258 feet, to a point for a corner; Thence Westerly, approximately 1,340 feet, along the North boundary line of said CB 328, Lot 3, to the NWC of same, also being the intersection with the East right of way of SW Loop 286, to a point for a corner; Thence Southerly, approximately 1,490 feet, following the East right of way line of SW Loop 286 to the intersection with the South right of way line of Old Bonham Road and the Point of Beginning for Sub Zone 4: SW Industrial Area and containing 378 acres more or less, Save & Except the following described tract: Save & Except the following Tract: Tract 5: The Texas Department of Transportation Paris Area Office and Grounds located on SW Loop 286 on the south side of Old Bonham Road and being further described as two parcels: Lamar County Appraisal District Parcel 102819 having a legal description CITY OF PARIS, BLOCK 309, LOT PT OF 22, OLD BONHAM RD & LOOP 286, ACRES 11.245; and Lamar County Appraisal District Parcel 18673 having a legal description CITY OF PARIS, BLOCK 309, LOT PT OF 22, OLD BONHAM RD & LOOP 286, ACRES 14.307. Sub Zone 5: South Industrial Area Being approximately 825 Acres of land situated within the corporate limits of the City of Paris, Texas and being in the A. Jarman Survey, A-479, the L. Rattan Survey, A-778, the J. Bourland Survey, A-69, and the L. Ewer Survey, A-313, and being approximately 0.55 miles, S 32 degrees W, from the Downtown Plaza and being bounded on the North by West Washington Street, being the common boundary with Sub Zone 1, and on the West by the Union Pacific 9 Railroad right of way, and on the South by SW Loop 286 and on the East by SH 19/24 / South Church Street, and being more particularly described as follows: Beginning at the point of intersection of the North right of way line of West Washington Street and the West right of way line of 6a' Street SW; Thence Westerly, approximately 340 feet, along the North right of way of West Washington Street to the intersection with the West right of way of 7�' Street SW, also being in the East line of Sub Zone 2: Downtown Central Area, as described herein, to a point for a corner; Thence Southerly, approximately 177 feet, following the West right of way of 71h Street SW, to the intersection with the continuing North right of way of West Washington Street and South boundary of said Sub Zone 2, described herein, to a point for a corner; Thence Westerly, approximately 1,420 feet, following the North right of way line of West Washington Street and also the South boundary of Sub Zone 2, to the intersection with the West right of way line of Union Pacific railroad right of way, and being in the South boundary line of CITY OF PARIS, BLOCK 132, LOT 4,1110 W WASHINGTON ST, also known as LCAD parcel 16165, same being 50 feet from and perpendicular to the NEC of CITY OF PARIS, BLOCK 154- A, LOT 12, also known as LCAD parcel 16492, also being a point for the most Northerly NWC of Sub Zone 5, herein described, to a point for a corner; Thence Southerly, approximately 50 feet, crossing the right of way of West Washington Street, to the NWC of said CB 154-A, Lot 12, and continuing along the East boundary line of said CB 154-A, Lot 12, same being the West right of way line of the Union Pacific railroad, approximately 1,522 feet, passing the SEC of said Lot 12, and continuing along private property lines and the West right of way line of the Union Pacific railroad, approximately 1.50 miles, to the intersection with the Northeast right of way of SW Loop 286, same being the most Southerly SWC of CITY OF PARIS, BLOCK 334, LOT PT 4-A, AB313 EWER SURVEY, SW LOOP 286, ACRES 37.95, also known as LCAD parcel 71637, to a point for a corner; Thence Southeasterly, approximately 7,243 feet, following the Northeast right of way of SW Loop 286, and continuing, approximately 407 feet, along the Northwest right of way of SE Loop 286, to the intersection with the East right of way of 3`d Street SE, a distance of 8,650 feet, to a point for a comer; Thence Northerly, approximately 2,640 feet, following the East right of way of 3rd Street SE, to the beginning of a curve to the left, and departing said curve in a projected line, approximately 750 feet, to the intersection with the West right of way line of South Church Street, and continuing, approximately 1,710 feet, along the West right of way of said South Church Street 1101 to the intersection with the North right of way line of Neagle Street; a distance of approximately 5,100 feet, to a point for a comer; Thence Westerly, approximately 1,710 feet, along the North right of way of Neagle Street to the intersection with the West right of way line of 4d' Street SE, to a point for a corner; Thence Northerly, approximately 2,000 feet, to the intersection with the South right of way line of Frisco Street, to a point for a corner; Thence Easterly, approximately 520 feet, to the intersection with the West right of way line of 6a' Street SW, to a point for a corner; Thence Northerly, approximately 1,228 feet, to the intersection with the North right of way of West Washington Street and the Point of Beginning for Sub Zone 5: South Industrial Area and containing 847 acres more or less; Save & Except the following described tracts: Save & Except the following Tracts: Tract 6: LCAD Parcel: 103373, SOUTHWEST INDUSTRIAL PARK, BLOCK A, LOT 5,1810 SW LOOP 286 IMP TO 116481, ACRES 17.966 Tract 7: LCAD Parcel: 72003, A69 J BOURLAND SURVEY, TRACT 21, ACRES 37.693, SW LOOP 286 11 x