HomeMy WebLinkAboutResolution - 2018-R0313 - Establish North And East Lubbock Neighborhood And Infastructure Program - 09/13/2018Resolution No. 20 I 8-R03 I 3
Item No. 7.5
September 13 , 20 I 8
RESOLUTION
WHEREAS, tlu-ough Resolution No. 2005-R0522, the City Council of the City of
Lubbock established the Low-to-Moderate Income Neighborhood Infrastructure Program
(the "Program") that provided funding for sidewalks, paving, park improvements , and
grant matches to obtain additional monies fo r improvements in certain neighborh oods in
the Cit y or Lubbock (the "Cit y"); and
WHEREAS, through Resolution No. 2 0 13-ROl 54 (the "Fund Resolution"), amended by
Resolution Nos. 2014-R0395 and 2017-R0356, the City Council replaced the Program
wiLh th e North and East Lubbock Neighborhood and In fra structure Program Fund (the
"Fun d"); and
WHEREAS, the City Council established the Fund to create a North and East Lubbock
Neighborhood and Infrastructure Program to provide funding fo r certain redevelopment
and infrastructure programs in north and east Lubbock; and
WHEREAS, the City Council finds that it would further the public benefit and better
serve the public health, safety, and welfare of the citizens of t he City of Lubbock to repeal
the previous resolutions related to the Fund and replace it with a new fund allocation
process, NOW THERE FORE,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
I . THAT the City Council of the Cit y of Lubbock, Texas does hereby repeal
Resolution Nos. 2013-RO 154 , 2014-R0395, and 20 l 7-R0356.
2. TI !AT the City Council of the City of Lubbock does hereby establish the North
and East Lubbock Neighborhood and Infrastructure Program which shall be used
to benefit Lubbock C ity Council Districts I and 2; and
3. THAT Ten percent (I 0%) of fill. revenues received from the City of Lubbock
mineral interests be deposited into the General Fund, including any revenues on
the ten percent all otment that are over the adopted budget, and ninety percent
(90%) be dis tributed as follows for each desi gnated budget year:
a. FY 2018-1 9:
1. Sixty-seven point fi ve pe rcent (67.5%) of the budgeted oil and gas
royalty revenues received from the C ity of Lubbock mineral
interests shall be transferred to the Fund and shall be used
exclusively for north and east Lubbock redevelopment by the
Community Development D epartment or the City of Lubbock for
rehabilitation of owner-occupied homes and other such uses in the
defined area as may be approved by the City Council.
11. Twenty-two point five percent (22.5%) of the budgeted oil and gas
royalty revenues received from the City of Lubbock mineral
interests shall be transferred to th e Central Business District Tax
Increment Financing Reinvestment Zone (CBD TIF) Fund for the
exclusive use for downtown redevelopment proj ects in the Zone.
111. Revenues received in excess or the adopted bud gel for the ninety
(90) percent allotment will be di stributed to the North and East
Lubbock Neighborhood and Infrastructure Fund and shall be used
exclusively for north and east Lubbock redevelopment by the
Community Development Department of the City or Lubbock for
rehabilitation of owner-occupied homes and other such uses in the
defined area as may be approved by the City Council.
b. FY 20 19-20:
1. Seventy-eight point seven fiv e percent (78. 75%) of the budgeted
oi l and gas royalty revenues received from the City of Lubbock
mineral interests shall be transferred to the Fund and shall be used
exclusively for north and east Lubbock redevelopment by the
Community Development Department of the City of Lubbock for
rehabilitation of owner-occupied homes and other such uses in the
defined area as may be approved by the City Council.
11. Eleven point two five percent (11.25%) of the budgeted oil and gas
royally rev enues received frorn th e City of Lubbock mineral
interests shall be transferred to the Central Business Di strict Tax
Increment Financing Reinvestment Zone Fund for the exclusive
use for downtown redevelopment projects in the Zone.
111. Revenues received in excess of the adopted budget for the ninety
(90) percent allotment will be di stributed to the North and East
Lubbock Neighborhood and Infrastructure Fund and shall be used
exclusively for north and east Lubbock redevelopment by the
Community Development Department of the City of Lubbock for
rehabilitation of owner-occupied homes and other such uses in the
defined area as may be approved by the City Council.
c. FY 2020-21 and all subsequent budget years:
1. Ninety percent (90%) of the oil and gas revenues received from the
City of Lubbock mineral interests shall be transferred to the Fund
and shall be used exclusively for north and east Lubbock
redevelopment by the Community Development Department of the
City of Lubbock fo r rehabilitation of owner-occupied homes and
other such uses in the defined area as may be approved by the City
Council.
September 13, 20 18 Passed by the C ity C ouncil on ~~~~~~~~~~~~~~~-
DANIEL M. POPE, MAYOR
ATTEST:
APPROVED AS TO CONTENT:
APPROVED AS TO FORM:
Resolution for NEL!f 8-28-18-FINAL post com.:ctions