HomeMy WebLinkAboutResolution - 2006-R0546 - Amend Tax Abatement Agreement-Bemove Ltd & Vertical Turbine Specialists Inc - 11_09_2006Resolution No. 2006—RO546
November 9, 2006
Item No. 6.6
RESOLUTION
WHEREAS, the City Council has determined to give notice of its intent to amend a Tax:
Abatement Agreement with BeMove, Ltd. and Vertical Turbine Specialists, Inc.; and
WHEREAS, V.T.C.A. Tax Code Section 312.2041 requires notice of intent of the City
Council to be given to the presiding officer of the governing body of each taxing unit in which
the property to be subject to the amendment of the Tax Abatement Agreement is located; NOW
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
THAT the City Secretary give notice as set forth in Exhibit "A" of the intention of the
City Council to amend a Tax Abatement Agreement with BeMove, Ltd. and Vertical Turbine
Specialists, Inc., said notice to be given to the presiding officers of each governing body of
each taxing unit having jurisdiction in assessing taxes on 1802 East 50`h Street, Tract A-1 and
B-1 Breedlove Addition, in the City of Lubbock, Lubbock County, Texas, which is further
described in Exhibit "A- I" attached hereto and incorporated herein as if fully set forth.
Passed by the City Council this 9th day of
ATTEST:
ecca Ga , City Secretary
APPROIVED,AS .TO CONTENT
3
Rob on
Assistant City Manager
Development Services
APPROVED AS TO FORM:
Linda L. Chamales, Senior Attorney
Office Practice Section
November 2006.
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DAVID M LLER, MAYOR
Resolution No. 2006-RO546
EXHIBIT "A"
NOTICE OF INTENT OF THE CITY COUNCIL
OF THE CITY OF LUBBOCK TO AMEND AN
AGREEMENT TO ABATE TAXES ON REAL PROPERTY
IMPROVEMENTS AND TANGIBLE PROPERTY LOCATED AT 1802 E. 50TH
STREET WHICH IS TRACT A-1 AND B-1, BREEDLOVE ADDITION TO THE
CITY OF LUBBOCK, LUBBOCK COUNTY, TEXAS AND FURTHER
DESCRIBED IN THE ATTACHED EXHIBIT "A-1"
Notice is hereby given that the City Council of the City of Lubbock intends to
amend an Agreement with BeMove, Ltd. and Vertical Turbine Specialists, Inc. to abate
taxes on improvements to real property and tangible personal property located within
the Lubbock 2000 South Enterprise Zone created by Ordinance No. 2000-00032 and
covering all of the subject property.
Notice is further given that the City Council of the City of Lubbock will
consider authorizing the Mayor of the City to execute an amendment to the contract
between the City and BeMove, Ltd. and Vertical Turbine Specialists, Inc. for tax
abatement, a draft copy of said Amendment is attached to this notice as Exhibit "A-2"
and made a part hereof for all purposes.
Notice is further given that the City Council will consider this matter at its
meeting held in the City Council Chamber, City Hall, 1625 131h Street, City of
Lubbock, on the 2 1 " day of November , 2006, at approximately 9:30 o'clock a.m.
Exhibit "A-1"
Vertical Turbine Specialists
Plat Map
Tract A-1 and B-1 Breedlove Addition to the City of Lubbock, Lubbock
County, Texas
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Exhibit "A-2"
STATE OF TEXAS §
KNOW ALL MEN BY THESE PRESENTS:
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, BeMove, Ltd., a Texas
limited partnership (hereinafter called "BeMove") and Vertical Turbine Specialists, Inc.
(referred to herein as "VTS")
WITNESSETH:
WHEREAS, City, BeMove, and VTS executed a Tax Abatement Agreement on
the 9th day of June, 2005, granting a five year declining scale tax abatement; and
WHEREAS, City, BeMove, and VTS desire to amend the terms of the Agreement
by incorporating a new Lease Agreement and amending the property description to
exclude a portion of the unimproved real property that has been sold to another party;
NOW THEREFORE, City, BeMove, and VTS agree to the following
amendments:
A. Exhibit "A", the Lease Agreement between BeMove, Ltd. and Vertical
Turbine Specialists, Inc. relating to 1802 East 50th Street (portion), which was
incorporated into the Tax Abatement Agreement, is hereby replaced by the
attached Amended Lease Agreement between BeMove, Ltd. and Vertical
Turbine Specialists, Inc relating to Tract A-1 and B-1 Breedlove Addition to
the City of Lubbock, Lubbock County, Texas labeled Exhibit "A" which is
incorporated into the Amended Agreement as if fully set forth herein.
B. Exhibit `B", the map and description of the property which was the subject of
the tax abatement, is hereby replaced by the attached amended Exhibit "B"
which includes the amended map and the description of the property which
Amendment to Vertical Turbine Specialists Tax Abatement Agreement
includes the area covered by the amended lease and excludes the portion
sold by BeMove to another party.
Executed this day of
CITY OF LUBBOCK
DAVID A. MILLER, MAYOR
ATTEST:
Rebecca Garza, City Secretary
APPROVED? AS TO CONTENT:
Rob son, Ass City Manager
Business Services
APPROVED AS TO FORM:
Linda Chamales, Senior
Attomey—Office Practice
2006.
VERTICAL INE SPECIALISTS, INC..
BY: lz. . . /'
DOUGI:A0 B. ALLEN,
PRESIDENT
LC: cityatt/Linda/Amendment to VTS Tax Abatement Agreement
September 28, 2006
BEMOVE, LTD
By:
QA-k-(4z
DOUGL4 B. ALLEN,
MANAGING DIRECTOR
Amendment to Vertical Turbine Specialists Tax Abatement Agreement
Page 2
Exhibit "A"
LEASE AMENDMENT
This Lease Amendment (the "Amendment") is executed as of the _.1v&day of
October, 2006 (the "Execution Date") by BEMOVE, LTD., a Texas limited partnership
("Landlord") and VERTICAL TURBINE SPECIALISTS, INC., a Texas corporation
("Tenant").
PREAMBLE
This Amendment is executed with respect to the following facts, intentions and
understandings:
A. By Lease Agreement (the "Lease") dated November 9 2004, Landlord
leased to Tenant and Tenant leased from Landlord certain premises (the
"Leased Premises") located at 1802 East 50th Street, Lubbock, Lubbock
County, Texas. Reference to the Lease is here made for all purposes.
B. Landlord desires to subdivide and plat the larger tract of which the Leased
Premises are a part and, in connection with such subdivision and platting,
Landlord and Tenant desire to amend the Lease to describe the Leased
Premises with reference to the final plat,
AGREEMENT
In consideration of the facts, intentions and understandings set forth in the Preamble
and other valuable consideration each to the other in hand paid, the receipt and sufficiency
of which is hereby acknowledged, Landlord and Tenant hereby amend the tease so that from
and after the Execution Date any and all references to the Leased Premises in the Lease shall
be deemed to refer to Tract A-1 and Tract B-1, Breedlove Addition to the City of Lubbock,
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Lubbock County, Texas. As so amended, Landlord and Tenant hereby ratify and affirm the
Lease and declare the same to be in full force and effect.
EXECUTED as of the Execution Date.
LANDLORD:
BEMOVE, LTD., a Texas limited partnership
By: BEMOVE GP, L.L.C., a Texas limited
lia 'lity company, General Partner
By:
_ L��& � Aa—
Douglas B. A en, Authorized Member
TENANT:
VERTICAL TURBINE SPECIALISTS, INC., a
Texas corporation
Printed Na e: e�
Title:
2
Resolution No. 2006-R0546
Exhibit "B"
Vertical Turbine Specialists
plat Map
Tract A-1 and B-1 Breedlove Addition to the City of Lubbock, Lubbock
County, Texas
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Page 1 of 1
Linda Hart - Fwd: Notice of Intent: MTS, YTS and Teinert
From:
To:
Date:
Subject:
CC:
Becky Garza
Linda Hart
11/15/2006 5:16:08 PM
Fwd: Notice of Intent: MTS, VTS and Teinert
Tommy Combs
Linda,
Please file with the applicable documents.
Thanks,
bg
J 00 b -- 4 -5 !�-4
>>> Cheryl Brock 11/15/2006 9:05 AM >>>
Becky, I sent the Notice of Intent on MTS, S and Teinert Metals to the County, LISD, High Plains
Underground Water District, and Lubbock County Hospital District on November 10, 2006.
Thanks, cheryl
Cheryl Brock
City of Lubbock/Business Development
PO Box 2000
1625 13th Street
Lubbock, TX 79457
806.775.2019
cbrock@mylubbock.us