HomeMy WebLinkAboutResolution - 2316 - Declare Intent To Create Reinvestment Zone - 05_22_1986Resolution #2316
May 22, 1986
Agenda Item #5-A
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RESOLUTION
WHEREAS, the City Council of the City of Lubbock declares its intent
to consider the establishment of a reinvestment zone within the City of
Lubbock which zone is more fully described in its "Notice of Intent" which
notice is attached to this Resolution as Exhibit "A" and made a part hereof
for all purposes, and
WHEREAS, the City Council is authorized to create a reinvestment zone
under the Property Redevelopment and Tax Abatement Act (Art. 1066f,
V.A.C.S.) by following the procedures for establishment of such zone as set
forth in the Texas Tax Increment Financing Act of 1981 (Art. 1066e,
V.A.C.S.) , and
WHEREAS, the Texas Tax Increment Financing Act of 1981 requires a
notice be sent to the governing body of each taxing unit that levies real
property taxes of the property described in Exhibit "A", and
WHEREAS, the Notice of Intent as set forth in Exhibit "A" contains all
of the requirements of notice as set forth in Art. 1066e, Sec. 4(a), and
WHEREAS, the City Council is desirous of sending said notice as
required by law, NOW THEREFORE:
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK, TEXAS:
1. THAT the Notice attached hereto as Exhibit "A" be sent to the
governing body of all taxing units levying real property taxes on the
property described in Exhibit "A".
2. THAT the City Manager be authorized to send said notice to all of
the above -mentioned taxing units.
3. THAT the City Manager, on behalf of the City Council, requests a
waiver of 60 days notice requirement from the County of Lubbock and all
School Districts levying taxes on the real property described in Exhibit
"A".
4. THAT the City Manager, on behalf of the City Council, requests
consent from the Commissioners Court of Lubbock County and all school
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districts levying taxes on the property described in Exhibit "A" to a
single formal presentation on the creation of the proposed reinvestment
zone by the City Council of the City of Lubbock.
Passed by the City Council this 22nd day of May , 1986.
ATTEST:
, ulty 5ecreta
APPROVED AS TO FORM:
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e o n C. Ross, Jr., City Attorney
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B.C. McMINN, MAYOR
Resolution #2316
NOTICE OF INTENTION TO ESTABLISH
REINVESTMENT ZONE AS AUTHORIZED
BY ART. 1066e & 1066f, V.A.C.S.
Notice is hereby given by the governing body of the City of
Lubbock of its intent to establish a reinvestment zone within the
City of Lubbock. The proposed boundaries of said zone are as
follows:
FIELD NOTE DESCRIPTION for a 28.46 acre tract of land out of
Section 5, Block 0, Lubbock County, Texas, further described
by metes and bounds as follows:
BEGINNING at a 1/2" rod set in the East line of said Section
5, Block 0, S.00003140" E. a distance of 1375.03 feet from
the Northeast corner of the Southeast 1/4 of said Section 5,
Block 0, Lubbock County, Texas;
THENCE S. 00*03140" E. along the East line of said Section
5, Block 0, a distance of 989.62 feet to a 3/8" rod set in
the Northwesterly right-of-way line of the Ft. Worth &
Denver R.R.;
THENCE S. 45021105" W. along said R.R. right-of-way line a
distance of 391.29 feet to a 3/4" iron pipe;
THENCE S. 89030'38" W. a distance of 589.37 feet to a 1/2"
rod set in the Easterly right-of-way line of Loop 289;
THENCE N. 00*03' W. along said Easterly right-of-way line a
distance of 30.89 feet to a 1/2" rod set in said Easterly
right-of-way line;
THENCE S. 89038' W. along said Easterly right-of-way line a
distance of 20.00 feet to a 1/2" rod;
THENCE Northwesterly around a curve to the right, along the
Easterly right-of-way line of Loop 289, said curve having a
radius of 85.00 feet, delta angle of 84036', tangent lengths
of 77.34 feet, and a chord distance of 114.41 feet to a 1/2"
rod set in said Easterly right-of-way line;
THENCE N. 05046' W. along said Easterly right-of-way line a
distance of 665.00 feet to a 1/2" rod set in the Easterly
right-of-way line of Loop 289;
EXHIBIT A
THENCE N. 00°03' W. along said Easterly right-of-way line a
distance of 491.67 feet to a 1/2" rod;
THENCE N. 89030138" E. a distance of 1039.35 feet to the
PLACE OF BEGINNING.
Notice is further given that the tentative plans for development
and the estimate of the general impact of the proposed zone on
property values and tax revenue are as follows:
(a) Tentative plans for development:
The development plan for the reinvestment zone refer-
enced by the above title is to be implemented by the
construction of a major industrial facility. This
facility will require the development of an area of
approximately 28 acres. The building to house the
plant will cover a 180,000 square foot area. The
estimated cost of construction for the facility and the
value to be placed on the tax rolls will be approxi-
mately $6,000,000. The estimated annual tax revenues
from real property on this development will be approx-
imately $110,000 that will be abated until the company
has recovered an amount of $770,000.
Taxes from personal property on this development will
generate approximately $90,000 per year which will
immediately benefit the taxing jurisdictions involved.
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One hundred fifty jobs are to be created by this
development with an estimated annual payroll of
$2,500,000.
b. Impact on property values & tax revenues:
The Governing Body of the City of Lubbock's estimate of
the impact of the proposed reinvestment zone, as
described in this notice, on property values and tax
revenues is as follows:
1. Impact on Property Values -- The property value
within the zone will be increased approximately
$6,000,000. The property value in the immediate
area of the zone may be enhanced due to the
proposed development. Property values in the
remainder of the City will not be effected.
2. Impact on Tax Revenues -- Tax revenues on im-
provement on real property within the zone will be
abated in the amount of $770,000 based on a pro-
posed Contract as authorized by Art. 1066f,
V.A.C.S. Tax revenues on property outside of the
zone will not be effected.
Notice is further given that the City Council will conduct a
public hearing on the establishment of a reinvestment zone on the
property described in this notice on the 30th day of May
1986 at eight o'clock A M.
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Notice is further given that the City Council is acting under the
authority of Arts. 1066e & 1066f, V.A.C.S. for the purposes of
creating a reinvestment zone and abating real property taxes
within said zone.
Executed this 22nd day of May , 1986.
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APPROVED AS TO CONTENT:
ROBERT MASSENGALE, Ass stant City Manager
APPROVED AS TO FORM:
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JyOHN C. ROSS, JR., City Attorney
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C O M M I S S I O N E R S' C 0 U R T
R E G U L A R M E E T I N G
M A Y 2 7, 1 9 8 6
BE IT REMEMBERED that on the 27th day of May, 1986, there was
held a Regular Meeting of the Lubbock County Commissioners' Court in and
for the County of Lubbock, the following members present:
RODRICK L. SHAW COUNTY JUDGE, PRESIDING
BOYD ROBERTS COMMISSIONER, PRECINCT #1
COY BIGGS COMMISSIONER, PRECINCT #2
ELISEO SOLIS COMMISSIONER, PRECINCT #3
ALTON BRAZELL COMMISSIONER, PRECINCT #4
RESOLUTION APPROVED
PUBLIC HEARING NOTICE WAIVED
Upon a motion by Alton Brazell, seconded by Boyd Roberts, the
Court unanimously voted to approve the Resolution for waiver of 60 days
notice of public hearing as authorized by Article 1066e, Section 4(a),
V.A.C.S. to establish a reinvestment zone within an area within the City
of Lubbock. Also, the Court appointed Alton Brazell as County designated
representative to meet with the City of Lubbock concerning this matter.
STATE OF TEXAS
COUNTY OF LUBBOCK
I, Ann Davidson, County Clerk, in and for said County, do hereby certify
that the foregoing is a true and correct copy of Commissioners' Court
Minutes of May 27, 1986.
Ann Davidson, County Clerk
Lubbock County, Texas
RESOLUTION
;i WAIVER OF 60 DAY NOTICE OF PUBLIC HEARING AS AUTHORIZED BY ARTICLE
1066e, SECTION 4(a), V.A.C.S.
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Ij WHEREAS, the City of Lubbock has given notice to the Commissioner's
iCourt of Lubbock County, Texas of its intent to hold a public hearing to
establish a reinvestment zone within an area within the City of Lubbock as
more fully described in said notice which is attached hereto as Exhibit "A"
j and made a part of this document, and
j WHEREAS, Article 1066e, Section 4(a) requires that the notice attached
!j hereto as Exhibit "A" shall be given to the taxing units levying taxes on
i the property described in said notice no later than the 60th day before the
iidate of the public hearing to be held by the City Council on this matter,
and
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WHEREAS, Article 1066e, Section 4(a) further provides that the notice
required to be given by the City of Lubbock to each taxing unit levying
taxes against the property described in said notice may be waived by
j� securing the consent of the governing body of the County of Lubbock and
each school district that levies real property taxes in the proposed
reinvestment zone, and
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WHEREAS, the Commissioner's Court of Lubbock County is desirous of
i; cooperating with the City of Lubbock to the extent authorized by law in
!� creating the reinvestment zone described in Exhibit "A", and
;j WHEREAS, the Commissioner's Court of Lubbock County, Texas feels that
it is in the best interests of all citizens of Lubbock County to waive the
requirement of 60 days notice required to be given in accordance with Art.
1066e, Section 4(a), V.A.C.S. NOW THEREFORE:
BE IT RESOLVED BY THE COMMISSIONER'S COURT OF LUBBOCK COUNTY, TEXAS:
THAT as governing body of the County of Lubbock it hereby waives any
requirement of 60 days notice of intent by the City of Lubbock to create a
reinvestment zone within the City as more fully described in Exhibit "A"
attached hereto, and
BE IT FURTHER RESOLVED that the County Judge of Lubbock County, Texas
is hereby authorized to execute this waiver of notice on behalf of the
Commissioner's Court and deliver same to the City of Lubbock.
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BE IT FURTHER RESOLVED that the Commissioner's Court of Lubbock
County does hereby consent to one single formal presentation to be made by
the governing body of the City of Lubbock to the County of Lubbock and all
School Districts levying real property taxes on the property described in
Exhibit "A" all in accord with Section 4(b) Art. 1066e, V.A.C.S.
j Adopted this 7 . day of �2z , 1986.
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II COUNTY JUDGE
ATTEST:
County Clerk
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