HomeMy WebLinkAboutResolution - 2011-R0196 - Call Public Hearing About Establishing Reinvestment Zone - 04/28/2011Resolution No. 2011-RO196
April 28, 2011
Item No. 5.11
RESOLUTION
WHEREAS, the City Council of the City of Lubbock hereby declares its intent to
consider the designation of a Reinvestment Zone within the City of Lubbock, which
Reinvestment Zone is more fully described in the "Notice of Intent" attached hereto as
Exhibit A and made a part hereof for all purposes; and
WHEREAS, the City Council of the City of Lubbock is authorized to establish a
Reinvestment Zone by authority of Chapter 312 of the Tax Code; and
WHEREAS, the Tax Code requires a Notice of Intent to be sent to the governing
body of each tax unit that levies real property taxes on the property described in Exhibit
A (except school districts, which may not participate in Chapter 312 tax abatements) not
less than seven (7) days before a hearing on creation of a Reinvestment Zone; and
WHEREAS, the City Council of the City of Lubbock does hereby authorize a
public hearing to be conducted upon the establishment of said Reinvestment Zone at 9:30
A. M. on May 10, 2011 in the City Council Chambers of the City of Lubbock at 1625
13`h Street, Lubbock, Texas, after proper notice is given in accordance with Chapter 312,
Tax Code; NOW THEREFORE:
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
SECTION 1. THAT the City Council hereby orders that a public hearing be
conducted at 9:30 A. M. on May 10, 2011, at the City Council Chambers of the City of
Lubbock at 1625 13`h Street, Lubbock, Texas, pertaining to the proposal of the City
Council to establish a Reinvestment Zone as indicated on the Notice of Intent attached
hereto as Exhibit A.
SECTION 2. THAT the Notice of Intent attached hereto as Exhibit A be delivered
by the City Manager or his designee to the governing body of each taxing unit levying
real property taxes on the property described in said Exhibit A not less than seven (7)
days prior to the date of the public hearing.
SECTION 3. THAT the City Manager, or his designee, cause publication of
notice of the public hearing on this proposed designation of a Reinvestment Zone not less
than seven days prior to the date of the hearing in a newspaper of general circulation in
the City of Lubbock.
Passed by the City Council on this 28thday of April , 2011.
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TOM MARTIN, MAYOR
ATTEST:
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Re ec a Garza, City Secretary
APPROVED AS TO CONTENT:
Rob A son, t City Manager
Development Services
APPROVED AS TO FORM:
Linda L. Chamales,
Economic Development Attorney
Lc: city att/ Linda/ReinvestmentZoneRes Hurley companies
February 17, 2009
Resolution No. 2011-R0196
Exhibit "A"
NOTICE OF INTENT
TO
DESIGNATE REINVESTMENT ZONE
WHEREAS, the City Council of the City of Lubbock hereby declares its intent to
consider the designation of a Reinvestment Zone within the City of Lubbock, which
Reinvestment Zone is more fully described in the property description described herein;
and
WHEREAS, the City Council of the City of Lubbock is authorized to establish a
Reinvestment Zone by authority of Chapter 312 of the Tax Code; and
WHEREAS, the Tax Code requires a Notice of Intent to be sent to the governing
body of each tax unit that levies real property taxes on the property described below and
depicted on the map labeled A-1 (except school districts, which may not participate in
Chapter 312 tax abatements) not less than seven (7) days before a hearing on creation of a
Reinvestment Zone; and
WHEREAS, the City Council of the City of Lubbock has hereby authorized a
public hearing to be conducted upon the establishment of said Reinvestment Zone at 9:30
A. M. on May 10, 2011, in the City Council Chambers of the City of Lubbock at 1625
13`h Street, Lubbock, Texas.
The proposed Reinvestment Zone is to be located on the property located at 2301
N. University Avenue, being further described as Texas Instruments Tract A and Closed
Street, City of Lubbock, Lubbock County, Texas.
Notice is further given that the tentative plans for development and the estimate of
the general impact of the proposed zone on property tax revenue are as follows:
The development plan is to be implemented by the investment of approximately
$800,000 in improvements to an existing facility and $4,358,200 million in new
machinery and equipment. The estimated increased annual tax revenues from real and
personal property on this development will be approximately $554,323, inclusive of all
taxing entities. A tax abatement will be proposed for a portion of the increased value.
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Exhibit A-1
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Resolution No. 2011-R0196
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Legend
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Streets
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