HomeMy WebLinkAboutResolution - 2011-R0052 - Amendment To Tax Abatement Agreement - Thomas Hurley - 01/27/2011Resolution No. 2011-R0052
January 27, 2011
Item No. 5.20
PESO
3E IT RESOLVED BY THE CITY COUN
THAT the Mayor of the City of Lubbock BE and is hereby authorized and
iirected to execute for and on behalf of the City of Lubbock an Amendment to the Tax
kbatement Agreement with Thomas Hurley, individually, and the Hurley Companies dba
3urley Packaging, Essence Bottling, and Hurley Containers and all related documents.
I
aid Amendment is attached hereto and incorporated in this Resolution as if fully set
.orth herein and shall be included in the minutes of the Council.
'assed by the City Council on Januar 27 , 2011.
ATTEST:
Rebe ca Garza, City Secretary
APPR VED ASTO CONTENT:
Rob AM—son, Assn Manager
Development Services
APPROVED AS TO FORM:
TOM MARTIN, MAYOR
Linda L. Chamales,
Economic Development Attorney
LC: cityatt / Linda / Res -Tax Abatement Amendment -Hurley
January 10, 2011
Resolution No. 2011-R0052
STATE OF TEXAS §
COUNTY OF LUBBOCK §
AMENDMENT TO TAX ABATEMENT AGREEMENT
This Agreement is entered into by the CITY OF LUBBOCK (referred to herein
as "City"), a Home Rule Municipality of Lubbock County, Texas, Thomas Hurley,
individually and the Hurley Companies dba Hurley Packaging, Essence Bottling, and
Hurley Containers (hereinafter called "Company")
WHEREAS, City, Thomas Hurley, individually, and Hurley Companies dba
Hurley Packaging, Essence Bottling, and Hurley Containers executed a Tax Abatement
Agreement on the 27th day of April, 2009, granting a five year declining scale tax
abatement; and
WHEREAS, City, Thomas Hurley, individually and Hurley Companies desire to
amend the terms of the Agreement by changing the tax abatement schedule;
NOW THEREFORE, City, Thomas Hurley, individually and Hurley Companies
agree to amend the Tax Abatement Agreement by replacing SECTION 11 with the
following section:
"SECTION 11. Portion of Tax Abated. City agrees, during the term of this
Agreement to abate taxes on eligible property according to the following schedule:
Year 2:
100%
Year 3:
85%
Year 4:
75%
Year 5:
40%"
Amendment to Hurley Tax Abatement Agreement
Executed on January 27 , 2011.
CITY OF LUBBOCK
BY:
OM MARTIN, MAYOR
ATTEST:
�ebe ca Garza, City Secretary
APPROVED AS TO CONTENT:
Rob Allison, Ass' ity Manager
Development Services
APPROVED AS TO FORM:
Linda Chamales,
Economic Development Attorney
LC: cityatt/Linda/Amendment Hurley Tax Abatement Agreement
January 10, 2011
THE HURLEY COMPANIES
5
Y
BY:
Thomas Hurley, re dent
THOMAS HURLEY (individually)
r
Thomas Hurley
Amendment to Hurley Tax Abatement Agreement
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