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STATS of TExAB
IWOW ALL MEN BY THESE PRESENTS:
COUNTY OF COLLIN
ME IT RESOLVER BY THE CITY COCNCIL OF TEM TOWN OF ALLEN
TEXAS, that Gentry T. Jones, Mayor, be, and he is hereby auth—
orized and directed to contract with TAn4Mar Development Coup.
any. Inc: for certain tax incentives relative to a. proposed
subdivision East Of the present corporate limits Of the Town
of
Allen, the terms of said contract to be as follows:
02 dd
CONTRACT
L
STATE OF TEXAS
COUNTY OF COLLIN
ORDINANCE No. 74 .
KNOW ALL ME BY THESE PRESENTS:
THAT WHEREAS, Jan-I4ar Development Company, Inc; proposes to
�. develop approximately 234 acres of land in Collin County, Texas
which tract is located East of the present corporate limits of the
Town Of Allen, Texas and
WHEREAS, the said developer has requested the privilege of ty-
ing into the water distribution system and sanitary sewer disposal
system of the Town Of Allen and contemplates the subdivision of its
property according to the minimum standards established by the Town
Of Allen and will subsequently tender to the Town Of Allen aubdly-
ision plats,and as a prerequisite to the use of the Town's utilities,
the Town of Allen will require of the Developer, a petition and aff-
irmative vote of the Developer to be included inthe corporate limits
of the Town of Allen, Texas, and in c0naideration therefor, the Town
of Allen, acting by and through its duly elected City Counoil, has
granted tie- to the Developer as an incentive to the development of
said property, relief from the payment of City Taxes on the full value
Of the property to be included in said subdivision upon the terms and
oonditions stated herein.
NOW, THEREFORE, the parties hereto contract and agree as follows.
(1) That prior to the time that the property belonging to the
DEVELOPER is tied into the water distribution system and sanitary
sewer disposal system of the Town of Allen,the DEVELOPER will ten-
der to the City Council of the Town of Allen a proposed layout of-
approximately 234 acres belonging to the DEVELOPER, or under contract
to be purchased by the DEVELOPER, showing the proposed location of
streets and utilities and will tender to the City Council a detail-
od plat of the First Installment of the proposed subdivision, At such
time, the DEVELOPER will also tender to the City Council a etition
P
to have the First Installment of the subdivision annexed by the Town
of Allen.
r eafter
the real estate 10 behe City incorporatediinwthepiray Instaler due lmeyyaof the e
subdivision to be annexed by the Town of Allen.
(3) That the First Installment of such subdivision, and all
subaquent installments, will be assessed by the Town of Allen for
tax purposes a that the DEVELOPER will pay taxes in the amount
Of ten cents (10X) per acre for the first two (2) full years that
-Z of
the First Installment, and each subsequent installment, is included
on the tax r611 of the Town of !Alen; -taut is, if the property is
annexed aftar January let of any yec7, the property will not be in-
cluded on the tax roll of the Town of ::lon for the year in which
it is annexed, and for the next two (2) ycars thereafter, the prop-
.. e_ty will be readerad by the DEVLOPER, and the DEVELOPER will pay
taxes at the rate of ton center (l OX) p;;, core for oath and every acre
or proportionate part thereof located within the corporate limits
of the Town of Allen.
(4) That as the DEVELOPER builds on the lots to be included in
aach section of its subdivision, it will pay to the Town of Allen
the usual and customary water tap :ons and in addition therto, will
pay to the TOH-. cf _lon, err. 'spact'on foo of `x$0.00 per unit for
each dwalii:a un.c constructed is said subdivision.
Lmacut ad in duplicate, each of which shall be considered an or-
iginal, on this the 7th day of December 1967.
CITY OF AT.MN, TEXAS
ATTEST: BY: Gentry T, Jones
GENTRY T. JONES, MAYCR
A.C. St o:
A.C. STORY, CITY SEC •T Y
JAN -MAR DEV&LOPX= COMPANY, I110,
BY: Jack C. Persona
and
I Allen, Tuessondthis ther7thdday of Deoethe mber,n1967.il f the Town of
Gantry T Jones
dW.., a'. JONES, MAYOR
C ORREC TLY'Hk,EC ORDED :
A.C. St
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