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HomeMy WebLinkAboutResolution - 2010-R0624 - Lubbock Central Appraisal District For Lubbock Business Park TIF Tax Collection - 12_15_2010Resolution No. 2010-RO624 December 15, 2010 Item No. 5.33 RESOLUTION BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK: THAT the Mayor of the City of Lubbock BE and is hereby authorized and directed to execute for and on behalf of the City of Lubbock the agreement between Lubbock Central Appraisal District, City of Lubbock, and the Lubbock Business Park Tax Increment Financing Reinvestment Zone. Said agreement is attached hereto and incorporated in this Resolution as if fully set forth herein and shall be included in the minutes of the Council. Passed by the City Council on December 15 , 2010. TOM MARTIN, MAYOR ATTEST: Q 'Q," - --V - Rebe a Garza, City Secret APPROVED AST CONTENT: Rob Allison, Assis Manager Development Services APPROVED AS TO FORM: Linda L. Chamales, Economic Development Attorney Lc: city att/Linda/Res-LBP TIF/LCAD Collection Agreement December 1, 2010 Resolution No. 2010-RO624 AGREEMENT FOR COLLECTION OF THE TAX INCREMENT FOR THE LUBBOCK BUSINESS PARK TAX INCREMENT FINANCING REINVESTMENT ZONE STATE OF TEXAS COUNTY OF LUBBOCK § This Agreement is entered into this 15th day of December, 2010, between the Lubbock Business Park Tax Increment Financing Reinvestment Zone No. 3, City of Lubbock, Texas ("TIF District) and the Lubbock Central Appraisal District ("Appraisal District"). WHEREAS, the City Council of the City of Lubbock, pursuant to Ordinance No. 2009-00113 adopted December 16, 2009 and attached hereto as Exhibit A, created, established and designated the Lubbock Business Park Tax Increment Financing Reinvestment Zone; and WHEREAS, City of Lubbock Ordinance 2009-00113 also created a Tax Increment Fund for the TIF District; and WHEREAS, Texas Tax Code §311.013(b) requires each taxing unit to pay into the Tax Increment Fund for the zone an amount equal to the tax increment produced by the unit; and WHEREAS, INDIVIDUAL AGREEMENTS WERE ENTERED BETWEEN THE City of Lubbock as the municipality creating the zone and Lubbock County Hospital District, High Plains Underground Water Conservation District, and Lubbock County regarding payment into the tax increment fund of the tax increment produced from the property located in the reinvestment zone. Said agreements are attached hereto as Exhibits B, C, and D; and WHEREAS, the Lubbock Business Park Tax Increment Financing Reinvestment Zone desires to contract with the Appraisal District to provide all the services necessary for the collection and deposit of the tax increment produced by each of the taxing units within the TIF District into the Tax Increment Fund; and WHEREAS, the Appraisal District collects taxes for each of these taxing units, is able and willing to perform such collection services, and is desirous of entering into an agreement with the TIF District regarding such services; NOW THEREFORE, the parties hereto agree as follows: COLLECTION AGREEMENT ARTICLE I. RECITALS AND EXHIBITS PART OF AGREEMENT The representations, covenants and recitations set forth in the foregoing recitals are material to this Agreement and are hereby incorporated into and made a part of this Agreement as though they were fully set forth in this Article I. Exhibits A, B, C, and D, attached hereto are incorporated into this Agreement as if fully set forth herein. ARTICLE II. RESPONSIBILITIES OF THE APPRAISAL DISTRICT The Appraisal District, acting by and through its duly authorized officers, does hereby agree to perform all calculation and collection services on behalf of the City of Lubbock, County of Lubbock, Lubbock County Hospital District, and the High Plains Underground Water Conservation District, pursuant to the provisions of the Tax Increment "Financing Act, V.T.C.A. Tax Code, Chapter 311 for the Lubbock Business Park Tax Increment Financing Reinvestment Zone as described in City of Lubbock Ordinance No. 2009-00113, adopted December 16, 2009, and to forward said funds to the City of Lubbock for deposit into the Lubbock Business Park Tax Increment Financing Reinvestment Zone's Tax Increment Fund. The Appraisal District agrees to certify the base year (2009) values and compare certified appraised and taxable values in future years, as required by the Tax Increment Financing Act, to determine the portion of ad valorem taxes assessed that will be due to the TIF District. Future years' values will be certified by August 15t' of each year, the amount of tax to be collected will be calculated in October after the tax rates are set by the taxing units. When most of the taxes are collected in February, the Appraisal District will calculate the amount of taxes paid at that time and the funds due to the TIF District will be forwarded to the City of Lubbock for deposit in the Tax Increment Fund. The Appraisal District may contract with any competent attorney to assist in the collection of delinquent assessments on behalf of the City acting for the TIF District. The attorney's compensation shall be set in the contract, but the total amount of compensation provided may not exceed the amount authorized in Section 6.03 of the Texas Property Code. Said compensation shall be deducted from the delinquent assessment collected prior to the funds being forwarded to the City for deposit with notation of the amount deducted and accompanying documentation. ARTICLE III. RESPONSIBILITIES OF THE TIF DISTRICT The TIF District, acting by and through its duly authorized Board of Directors, does hereby agree to pay to the Appraisal District as compensation for services rendered pursuant to this Agreement, an amount equal to '/2 the cost per parcel for all other cities and independent school districts as calculated in the AGREEMENT FOR ASSESSMENT AND COLLECTION OF TAXES between the City of Lubbock and the Appraisal COLLECTION AGREEMENT 2 District or I/4 of 1 % of the annual collection budget of the Appraisal District, whichever is greater. The above stated compensation will be deducted from the annual TIF District distribution with notation of the amount deducted and accompanying documentation ARTICLE IV. TERM The term of this agreement shall be for a period of one year, beginning on the 15th day of December , 2010, and shall be extended from year to year unless the parties elect to terminate the Agreement according to its terms. ARTICLE V. TERMINATION In the event the Appraisal District or the TIF District desires to terminate this Agreement at the end of the primary term or any extension thereof, the party desiring to terminate shall give notice to the other party in writing 30 days prior to the end of the term. Either party may terminate this Agreement upon breach of the terms contained in the agreement by giving sixty (60) days written notice to the other party. ARTICLE VI. NOTICE TIF District: Chairman, Board of Directors Lubbock Business Park Tax Increment Financing Reinvestment Zone C/o Assistant City Manager, Business Dev City of Lubbock P.O. Box 2000 Lubbock, Texas 79424 Appraisal District: Chief Appraiser Lubbock Central Appraisal District P.O. Box 10542 1715 26`h Street Lubbock, Texas 79408 ARTICLE VII. AMENDMENTS This Agreement constitutes and expresses the entire agreement between the parties hereto and shall not be amended or modified except by written instruments signed by both parties. COLLECTION AGREEMENT 3 Executed this 15th day of December , 2010. Lubbock Business Park Tax Increment Financing Reinvestment Zone #3 J,/"- f j - - zl:za rv!' / 1 � Q sS a t 1, d r 44 R: zt-ol- 1dV,,---1 Chairman, Board of Directors Lubbock Central Appraisal District �!. UPS mor \ ki, APPROVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK December 15, 2010 TOM MARTIN, MAYOR Date ATTEST: Rebea Garza, City Secretary APPRO. D TO —'ON TENT: Rob Allis n, Assistant C' y Manager Business Development APPROVED AS TO FORM: Linda Chamales, Economic Development Attorney Lc:cityatt/Linda/LCAD LBP TIF Collection Agmt May 13, 2010 COLLECTION AGREEMENT 4 First Readin ;- December 2, 2009 Items No. 6.2 Resolution No. 2010-RO624 Exhibit A ORDINANCE NO. 2009-00113 Second Reading December 16, 2009 Item No. 5.16 AN ORDINANCE DESIGNATING AND DESCRIBING THE BOUNDARIES OF A TAX INCREMENT FINANCING REINVESTMENT ZONE NO. 3 FOR THE LUBBOCK BUSINESS PARK OF LUBBOCK, TEXAS; ESTABLISHING THE DURATION OF THE ZONE; ESTABLISHING A TAX INCREMENT FUND; AND ESTABLISHING A BOARD OF DIRECTORS FOR THE TAX INCREMENT FINANCING REINVESTMENT ZONE. WHEREAS, the City Council of the City of Lubbock, Texas, (the "City") desires to promote the development of the Lubbock Business Park of the City of Lubbock by the creation of a Tax Increment Financing Reinvestment Zone, as authorized by the Tax Increment Financing Act, Chapter 311 of the Texas Tax Code, Vernon's Texas Codes Annotated (the "Act"); and WHEREAS, written notice containing a description of the proposed boundaries of the zone, the tentative plans for the redevelopment of the zone, and an estimate of the general impact of the proposed zone on property values and tax revenues, was provided to the governing body of each taxing unit that levies real property taxes in the proposed reinvestment zone, more than 60 days prior to the public hearing or notice was waived by the taxing unit; and WHEREAS, a formal presentation which included a description of the proposed boundaries of the zone, the tentative plans for redevelopment, and an estimate of the general impact of the proposed zone on property taxes in the proposed zone has been given to the governing body of each taxing unit that levies real property taxes in the proposed zone; and WHEREAS, the City has called a public hearing to hear public comments on the creation of the proposed Tax Increment Financing Reinvestment Zone and its benefits to the City and the property in the proposed Tax Increment Financing Reinvestment Zone; and WHEREAS, notice of such public hearing was published in the. Lubbock Avalanche -Journal, a daily paper of general circulation in the City, such publication date it being not later than seven (7) days prior to the date of the public hearing; and Business Park TIF Ordinance Page. I f E� you, Exhibit A #5_^ WHEREAS, such hearing was convened at the time and place mentioned in the published notice, on the 2nd day of December, 2009, at 10:00 o'clock a.m., in the Council Chamber of the City of Lubbock, Texas; and WHEREAS, the City, at such hearing, invited any interested person, or his:her representative, to appear and speak for or against the creation of the Tax increment E Financing Reinvestment Zone, the boundaries of the proposed Tax Increment Financing 1 Reinvestment Zone, whether all or part of the territory which is described in Exhibit "A" attached hereto and depicted on the map attached hereto as Exhibit "B" should be included in such proposed Tax Increment Financing Reinvestment Zone, the concept of � i tax increment financing and the appointment of a Board of Directors for the proposed Tax Increment Financing Reinvestment Zone; and WHEREAS, all owners of property located within the proposed Tax Increment i Financing Reinvestment Zone and all other taxing units and other interested persons were given a reasonable opportunity at such public hearing to protest the creation of the r proposed Tax Increment Financing Reinvestment Zone and/or the inclusion of their property in such Tax Increment Financing Reinvestment Zone; and t WHEREAS, the proponents of the Tax Increment Financing Reinvestment Zone JJI offered evidence, both oral and documentary, in favor of all of the foregoing matters relating to the creation of the Tax Increment Financing Reinvestment Zone, and opponents of the Tax Increment Financing Reinvestment Zone were given the opportunity to appear to contest creation of the zone, after which the hearing was closed; NOW THEREFORE: BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK: SECTION 1: THAT the facts and recitations contained in the preamble of this ordinance are hereby found and declared to be true and correct. 9 SECTION 2: THAT the City Council, after conducting such hearing and having; heard such evidence and testimony, has made the following findings and detenninations based on the evidence and testimony presented to it: Husmesy Park T}F Ordinance � Page 2 Exhibit A E a) That the public hearing on adoption of the Tax Increment Financing Reinvestment Zone has been properly called, held and conducted and that i notice of such hearing has been published as required by law and delivered to all taxing units overlapping the territory inside the proposed Tax Increment t Financing Reinvestment Zone. b) That creation of the proposed Tax Increment Financing Reinvestment Zone with boundaries as described in Exhibits "A" and "B" will result in benefits to the City, its residents, and property owners, in general, and to the property, residents and property owners in the Tax Increment Financing Reinvestment Zone. c) That the area is "unproductive, underdeveloped or blighted" within the meaning of article VIII, section I -g(b) of the Texas Constitution. d) That the Tax Increment Financing Reinvestment Zone, as defined in Exhibits "A" and "B", meets the criteria for the creation of a Tax Increment Financing Reinvestment Zone set forth in Section 311.005 of the Act in that: (i) It is a contiguous geographic area located wholly within the corporate limits of the City, and (ii) It is predominantly open and, because of obsolete platting, deterioration of structures or site improvements, or other factors, substantially impairs or arrests the sound growth of the municipality; e) That the total appraised value of all taxable real property in the proposed Tax Increment Financing Reinvestment Zone according to the most recent appraisal rolls of the City, together with the total appraised value of taxable real property in all other existing Tax Increment Financing Reinvestment Zones within the City, according to the most recent appraisal roils of the City, does not exceed 15 percent of the current total appraised value of taxable real property in the City and in the industrial districts created by the City. That the proposed Tax Increment Financing Reinvestment Zone does not contain more than 15 percent of the total appraised value of real property taxable by a county or school district. Business Park T{F Ordinance Page J Exhibit A GNP 0 g) That the development or redevelopment of the property in the proposed Tax Increment Financing Reinvestment Zone will not occur solely through private investment in the reasonably foreseeable future. h) That the improvements in the Tax Increment Financing Reinvestment Zone will significantly enhance the value of all taxable real property in the Tax Increment Financing Reinvestment Zone. SECTION 3. That the City hereby creates a Tax Increment Financing Reinvestment Zone over the area described in Exhibit "A" attached hereto and depicted in the map attached hereto as Exhibit "B" and such Tax Increment Financing 1 Reinvestment Zone shall hereaf3er be identified as the Lubbock Business Park Tax i Increment Financing Reinvestment Zone Number 3, City of Lubbock, Texas (the "Zone" or "Tax Increment Financing Reinvestment Zone"). SECTION 4. That there is hereby established a Board of Directors for the Zone, which shall consist of nine (9) members. The Board of Directors of the Lubbock Business Park Tax Increment Financing Reinvestment Zone Number 3 shall be appointed as follows: a) Five (5) members shall be appointed by the City Council, one (1) member shall be appointed by the Commissioner's Court of Lubbock County, one (1) member shall be appointed by the Lubbock Independent School District; one (1) member shall be appointed by Lubbock County Hospital District; and one (1) member shall be appointed by High Plains Water Conservation District; provided however, that if a taxing unit waives its right to appoint a member of the board, the City may appoint such board member instead. The initial Board of Directors shall be appointed by resolution of the governing bodies of the City and the taxing units as provided herein within sixty (60) days of the passage of this ordinance or within a reasonable time thereafter. All members appointed to the Board shall meet the eligibility requirements set forth in the Act. i Business Park'TIF Ordinance NgL• l Exhibit A . b) The terms of the board members shall be two-year terms. The City Council ; shall designate a member of the Board to serve as chairman of the Board of Directors, and the Board shall elect from its members a vice chairman and other officers as it sees tit. c) The Board of Directors shall make recommendations to the City Council concerning the administration of the Zone. It shall prepare and adopt a Project Plan and Tax Increment Financing Reinvestment Zone Financing Plan for the Zone and must submit such plans to the City Council for its approval. The Board of Directors shall possess all powers necessary to prepare, implement and monitor such project and financing plans for the Ta.x. Increment Financing Reinvestment Zone as the City Council considers advisable including the submission of an annual report on the status of the Zone. SECTION 5: That the Zone shall take effect immediately on passage of the Ordinance, and that the termination of the Zone shall occur on December 31, 2039, or at an earlier time designated by subsequent ordinance of the City Council in the event the City determines that the Zone should be terminated due to insufficient private investment, accelerated private investment or other good cause, or at such time as all project costs and tax increment bonds, if any, and the interest thereon, have been paid in full. The termination date may also be extended by subsequent ordinance of the City Council. SECTION 6: That the Tax Increment Base Value for the Zone which is the total appraised value of all taxable real property located in the Zone, is to be determined as of January 1, 2009, the year in which the Zone was designated a Tax Increment Financing Reinvestment Zone. SECTION 7: That there is hereby created and established a Tax Increment Fund j for the Zone which may be divided into such sub -accounts as may be authorized by j I; fj subsequent resolution or ordinance, into which all Tax Increments, less any of the i ;j amounts not required to be paid into the Tax Increment Fund pursuant to the act, are to be deposited. The Tax Increment Fund and any sub -accounts are to be maintained in an q� Business Park TIF Ordinance i? Page j ;i Exhibit A ; 11 i 3 account by the City and shall be secured in the manner prescribed by law for funds of Texas cities. In addition, all revenues from the sale of any tax increment bonds and notes hereafter issued by the City, if any, revenues from the sale of any property acquired as part of the Tax increment Financing Plan and other revenues to be dedicated to and used in the Zone shall be deposited into such fund or sub -account from which money will be disbursed to pay project costs for the Zone or to satisfy the claims of holders of tax increment bonds or notes issued for the Zone. SECTION 8: That if any section, paragraph, clause or provision of this Ordinance shall for any reason be held to be invalid or unenforceable, the invalidity or unenforceability of such section, paragraph, clause or provision shall not affect any of the remaining provisions of this Ordinance. AND IT IS SO ORDERED PASSED by the City Council on first reading this end day of December, 2009. PASSED by the City Council on second reading this 16th day of December, 2009. ATTEST: '�Q ax-'o , . -. — I Rebec'ba Garza, City Secretary APPROVED AS TO CONTENT: _ r9� Rob Al is , Assistant City Manager Development Services TOM MARTIN, MAYOR Business Park T1F Ordmance Page 6 R. Exhibit A cla APPROVED AS TO FORM: i: Linda L. Cliamales H jl. Economic Development Attorney iovember 19 . 2009 Russne!<,; P3rk TIF Ordinance Page 7 Exhibit A Exhibit "A" METES AND BOUNDS DESCRIPTION of a 588.097 acre tract of land being Section 7, Block A, Lubbock County, Texas, being further described as follows: BEGINNING at a railroad spite found In the North line of Secw n 7, Block A, at the Northwest comer of this tract which bears N. 89'4 &r E. a distance of the 260.03 feat from the Northwest comer of Section 7, Block A. Lubbock County, Texas; THENCE N. 89.45'SW E.. along the North line of said Section, a distance of 126.02 feet to a point at the Northwest comer of a tract of land recorded in Volume 393, Paps 505 heed Records of Lubbock County, Texas, for a comer of this tract; THENCE S. 00'14'1iT E. (Deed Norb South). along the West Ilse of said tract recorded in Volume 393, Pegs 505, at 12.00 feet pace a itr Iron rod with cap set In reference, continuing for a total distance of 112.00 feet to a 112' Iron rod with cap set at the Southwest comer of said trod recorded in Volume 393, Page 505, for a corner of this tract: THENCE N. 89045'S0' E. (Deed East-West), along the South line of said tract recorded in Volume 393, Page 505. a dtstence of 100.00 feet to a 11r Iron rod with cap set at the Southeast comer of wW tract recorded In Volume 393, Page MIS for a corner of this tract THENCE N. 00'14'10' W. (Dead North-Souft along the East line of sold tract recorded in Volume 303. Page 505, at 100.00 feet pass a 112' Iron rod with cap set in reference, contlritA ng for a toW distance of 112.00 feet b a 1/2' Iron rod with cap set in the North line of said Section 7, Block A at the Northeast comer of said trod recorded in Volume 393. Page 506, for a comer of this tract" THENCE N. 89'4680" E.. along the North the of sold Section, a distance of 12.75 feet to a point at the Northwest comer of a tract of land daur bed in Volume 1850, Page 255, Deed Records of Lubbock !County, Texas, for a comer of this tract; THEME S. 00'1246- E. (Deed S. 00'0878' W.122.00 faetN along the Weal tine of said trod descried in Volume 1 ON, Pope 255, at 0.14 feet pass a ra9road apace found In rd(.rance, at 30.15 feat puss a 3W Iron rod found In retersnn,o, coed nui ng for a total distance of 122AS Mast to a 3/8' iron rod found at the Southwest comer of said tract of IsrW recorded in Volume 1859. Page 255, for a comer of this tree THENCE N. 89.48'1W E. (Deed S. 89*51134' E.). along the South tine of said tract described in Volume 1856, Pogo 255, s distance of 117.00 feet b a 11Y iron rod with cep not at the Southeast corner of sold trail of land recorded In Volume 1060, Pape 258, for a comer of this tract: THENCE N. 00'12'18' W. (Dyed N. 00'08'28' E. 122.00 feet), along the East One of sold bad of land recorded In Volume 1856, Paige 25% at 92.01 feet pass a 31r Iron rod found in references, at 122.02 feet pass a railroad spike found In reference, continuing for a total distance of 122.24 feet to a point at the Northeast corner of said tract recorded in Volume 1856, Page 255. In the North line of said Section, for a comer of this tract; THENCE N. 89'45'SW E., along the North line of said Section, a distance of 4648.14 feet to a rafted space found in the Wed right-d-way fine of Marth Luther KkV Jr. Boulevard, In Warranty Deed to the City of Lubbock In instrument of retard in Volume 1489, Page 603. Deed Records of Lubbock County, Texas, at the Northeast corner of this tract THENCE S. 00'23 r E. (Deed S. 01'53'42' W. 319.88 feet), &" the West right-of-way line of said Martin Luther King Jr. Boulevard, a distance of 319.17 feet to a 3tr km rod found at a point of curvskM THENCE Southwesterly, continuing along the West right-d-way line of said Martin Luther King Jr. Boulevard, around a am to the right; said curve having a radius of 5674.58 feet. a central angle of 01437Vr (Deed 0183T0d'), a chord distance of 180.19 feet (Deed 160.11 feet) and a chord bearing of S. 00026'08' W. (Deed S. 02*44'12* W.) to a 319' Iron rod found at a point of WtUnectlon, Exhibit A THENCE S. O1'13'02' W. (Deed S. 03'32'42' W. 1237.52 feet), continuing along the West dght-of--way One of said Martin Luther iang Jr. Boulevard, a distance of 1237.51 feet to a 318• iron rod found at a point of curvature; THENCE Southwesterly, continuing along the Weal right-of-way line of said Martin Luther ling Jr. Boulevard, around a curve to the let said cave having a radius of 5684.58 feek a central angle of 01937'59' (Deed 01038VO. is chord distance of 164.88 feet (Deed 184.90 feet) and a chord bearing of S. 00428'11' W. (Deed S. 02.43'42' W.) to a 3180 Iron rod found at a paint of intersection; THENCE S. 00-25-41' W. (Deed S. 01'54'4? W. 1989.74 feet continuing a" the West rill -of -way line of cold Martin Luther King Jr. Boulevardi a distance of 1989.94 feet to a 3/8' Iron rod found at a point of curvature; THENCE Southwesterly, continuing ing along the West rlpht-of-way line of said Martin Luther King Jr. Boulevard, around a curve to the left, said larva having a radius of 5074.58 feet; a central angle of 01.43'310 (Deed 01.43'30•), a dumd distance of 174.18 feet (Deed 174.15 feet) and a chord bearing of S. 01'1541• E. (Dead S. 01'02157' W.) to a 3/8' Iron rod with cap found at a comer of this tract; THENCE S. 02.08'33' E., continuing along the West rlghW-way line of sold Martin Luther King Jr. Boulevard, a distance of 231.58 feet to a 112' iron rod found at the Northeast comer of Lot 1, Lubbock Fire Deperimernt Addition, to the City of Lubbock, Lubbock County, Texas, according to the map, plat sndlor dedication deed thereof recorded In Vdurne 5943 Page 150. Red Property Records of Lubbock County, Texas, at a comer of this tract THENCE S. S9.41'40- W. (Plat S. 89'40'40" W), along the North line of Bald Lot 1, a distance of 800.00 feet to a 112' Iron rod with cap found at the Northwest comer of said Lot 1 at a comer of this tract THENCE S. OW24152' E. (Plat S. 00.26'30' F-I a" the West tine of said Lot 1, a distance of 10Oo.00 feet to a 112' iron rod with carp !found M ttro Southwest comer of add Lot 1, in the North right d woy Ikw of Ursulhe Street for the Southeast comer of this tract; THENCE S. I9'4040' W., along the North rlght-of-way line of said Ursulhe Street, a distance of 4374,50 feet to a 112' iron rod with cap set for a point of curvaturo; THENCE Northwesterly around a curve to the right, said curve having a radius of 15.00 feet, central angle of 90600'00' and a chard distance of 21.21 feet to a 1/2' iron with cap ad In the East right-d-way fine of North Ash Avenue for a non -tangent point of Intersection; THENCE N. 00'i T44• W., along the East right-of-way Una of North Ash Avenue, a distance of 922.44 feet to a W Iron rod with cap sal In the East dght-d-way line of interstate No. 27 as mftcfed in Deed (Conirrofted Access Highway Facility) to the State of Texas in Instrument of record in Volume 1418, Pape SM. Deed Rerwrdo of Lubbock County, Texas, for a point of curvature; THENCE Northeasterly, along the East Vt-d-way One of sold interstate No. 27, grmted to the State of Texas in instrument of record in Volume 1418, Page 6N. and in Volume 1383, Page t49, respectively, Deed Records of Lubbock County, Tans, along a curve to the left, sold curve having a radius of 1910.08 feet, a central argue of I6'39'08', a chord distance of 553.19 feet and a chord bearing of N. 17'1 r w E for a point of intersecton; THENCE N. 09'38'33' E. (Deed N. 09'50'00' E. 1005.24 feell continuing along the East right-of-way line of said interstate No. 27, as reflected h Deed (Controlled Access Highway Facility) to the State of Texas in insbument of record In Volume 1383, Page 149, DoW Records of Lubbock County, Texas, a distance of 1006.21 feet to a 1/2' kvn rod with cap set for a comer of this trawl: Exhibit A r THENCE N. 04.3T3W W. (Deed N. 04.1(r19- W. 1406.38 feet). continuing along the East right-of-way line of said Interstate No. 27. a distance of 1408.23 feet to a 11Y iron rod found at a comer of this tract: THENCE N. 01.2WOr W. (Deed N. 01.OT00' W. 1429.55 feet). continuing along the East riot-ol way line of said Interstate No. 27, a distance of 1427.37 feet to the Point of Beginning; No Text '^ Exhibit B Resolution No'1010—R0145� March 25, 2010 Item No. 5.21 RESOLUTION BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK: THAT the Mayor of the City of Lubbock BE and is hereby authorized and directed to execute for and on behalf of the City of Lubbock an Agreement between the City of Lubbock and Lubbock County Hospital District to Participate in the Lubbock Business Park Tax Increment Financing Reinvestment Zone. Said Amendment is attached hereto and incorporated in this Resolution as if fully set forth herein and shall be included in the minutes of the Council. Passed by the City Council this March 25, , 2010. TOM MARTIN, MAYOR ATTEST: Garza, City Secretary APPROV AST ONTENT: Rob Allison, Assist-a'ity Manager For Development Services APPROVED AS TO FORM: Linda L. Chamales, Economic Development Attorney City Alt! Linda: Res-1,131' TIP Interlocal with Husp Dist March 9. 2010 Resolution No. 2010—RO624 Exhibit B CITY OF LUBBOCK AND LUBBOCK COUNTY HOSPITAL DISTRICT AGREEMENT TO PARTICIPATE IN THE LUBBOCK BUSINESS PARK TAX INCREMENT FINANCE REINVESTMENT ZONE This AGREEMENT is made and entered into by and between the City of Lubbock, (the "CITY"), a municipal corporation, and the Lubbock County Hospital District (the "HOSPITAL DISTRICT"), a political subdivision of the State of Texas, pursuant to the authority granted by and in compliance with the provisions of the Tax Increment Financing Act, V.T.C.A., Tax Code, Chapter 311, and in furtherance of the purposes of these patties as provided by law. WITNESSETH: WHEREAS, in accordance with the provisions of the Tax Increment Financing Act, V.T.C.A., Tax Code, Chapter 311, (the "Act") and after due notice to the HOSPITAL DISTRICT and other taxing units levying real property taxes in the area, the City Council of the CITY, pursuant to Ordinance No. 2009-001.1.3 (the "Ordinance"), adopted on December 16, 2009, created, established and designated the Lubbock Business Park Tax Increment Finance Reinvestment Zone No. 3 ("LBP TIF Reinvestment Zone") under the Act; and WHEREAS, the Act provides that each taxing unit levying taxes on real property in a reinvestment zone is not required to pay into the tax increment fund any of its tax increment produced from property located in the LB? TIF Reinvestment Zone unless such taxing unit enters into an agreement to do so with the governing body of the municipality that created the zone; and WHEREAS, a tax increment agreement under the Act may be entered into any time before or after the zone is created, and such agreement may include any conditions for payment of the tax increment into the fund and must specify the portion of the tax increment to be paid into the Tax Increment Fund and the years for which that tax increment is to be paid into the Tax Increment Fund; NOW, THEREFORE, the CITY and the HOSPITAL DISTRICT, in consideration of the terms, conditions, and covenants contained herein, agree as follows: , City and High Plains HOSPITAL District Interlocal LBP TIF Agreement Page I 3 Exhibit B 415 Section I. Definitions. "Act" means V.T.C.A., Tax Code, Chapter 311, the Tax Increment Financing Act, as amended. "Captured Appraised Value" means the total net taxable appraised value of the property located within the TIF District for the year less the Tax Increment Base of the TIF Taxing Units. "Project Plan" means the project plan and a reinvestment zone financing plan prepared in accordance with Section 311.011, Texas Tax Code, as approved by the CITY, and the LBP TIF Reinvestment Zone Board of Directors. d. "TIF District" means the Lubbock Business Park Tax Increment Finance Reinvestment Zone, No. 3, City of Lubbock, Texas, established by the Lubbock City Council, Ordinance No. 2009-00113, on December 16, 2009. e. "TIF Taxing Units" means those political subdivisions of the State of Texas authorized to impose ad valorem taxes on property located within the LBP TIF Reinvestment Zone, "Tax Increment" means, for any given year, the amount of real property taxes levied and collected by the HOSPITAL DISTRICT for the year on the Captured Appraised Value of taxable property located. in the TIF District. g. "Tax Increment Base" means the total appraised value of all real property located in the LBP TIF Reinvestment Zone that is located in and taxable by the HOSPITAL DISTRICT as of January 1, 2009, the year in which the LBP TIF Reinvestment Zone was designated, plus the total appraised value of all real property taxable by the HOSPITAL DISTRICT and annexed to the LBP TIF Reinvestment Zone with the consent of the HOSPITAL DISTRICT, determined as of January I of the year in which the area was annexed to the LBP TIF Reinvestment Zone. "Tax Increment Fund" means the fund created by Ordinance 2009-00 and consisting of all the Tax Increment deposits, all revenues from the sale of tax increment bonds or notes, revenues from the sale of any property acquired as part of the Project Plan and Reinvestment Zone Financing Plan, and other revenues to be used in the development or redevelopment of the LBP TIF Reinvestment Zone. "Total Tax Increment" shall mean the cumulative total amount of Tax Increment to be paid into the Tax Increment Fund by the HOSPITAL DISTRICT during the term of this Agreement, City and High Plains HOSPITAL District Interlocal LBP TIF Agreement Page 2 GExhibit B yq� 6d. Section 2. HOSPITAL DISTRICT Obligations. The HOSPITAL DISTRICT hereby agrees to authorize the Lubbock Central Appraisal District ("LCAD") to pay to the CITY for deposit into the Tax Increment Fund, an amount equal to one hundred percent (100%) of the Tax Increment levied against the captured appraised value of the real property taxable by the HOSPITAL DISTRICT and located in the LBP TIF Reinvestment Zone, not to exceed the Total Tax Increment, as defined, or until the thirty (30) year Term of this agreement is reached, except the following: a. Any funds which were levied by the HOSPITAL DISTRICT but were not collected, b. Any funds equal to tax refunds repaid by the HOSPITAL DISTRICT to taxpayers owning real property in the LBP TIF Reinvestment Zone. C. Any funds which represent penalty, interest or attorney's fees on any delinquent tax payments made to the HOSPITAL DISTRICT by taxpayers owning real property in the LBP TIF Reinvestment Zone, d. Any taxes uncollected by the HOSPITAL DISTRICT due to agriculture or other exemptions. Payment of such amount by LCAD on behalf of the HOSPITAL DISTRICT will be made within 90 days of date of delinquency for tax payments as prescribed by state law, or within 60 days following receipt of an invoice from the city, whichever is later. Any portion of the tax increment that is uncollected by LCAD for the HOSPITAL DISTRICT and withheld in accordance with this section but subsequently collected for the HOSPITAL DISTRICT shall be paid to CITY within 60 days of receipt. Section 3. Conditions. This Agreement to deposit Tax Increment to the "tax Increment Fund for the Reinvestment Zone is based on the following conditions, and the CITY agrees and acknowledges the HOSPITAL DISTRICT's right to enforce the conditions contained herein by injunction or any other lawful means in the event one or more of such conditions are not satisfied: Only project costs for public improvements within the LBP TIF Reinvestment Zone are to be paid with the Tax Increment, and b. In the case of the Tax Increment deposited to the credit of the Tax Increment Fund by the HOSPITAL DISTRICT, such Project Costs shall be limited to pay Project Costs for Infrastructure Improvements and other Public Improvements as set forth and identified in the Project Plan and Financing Plan. Section 4. CITY and LBP TIF Reinvestment Zone Obligations. City and High Plains HOSPITAL District Interlocal LBP TIF Agreement Page 3 Exhibit B V•"•� �p a. CITY hereby agrees to place the funds paid by the HOSPITAL DISTRICT, as determined in Section 311.012 of the Act, into the Tax Increment Fund to be utilized in the "LBP TIF Reinvestment Zone" for expenses authorized in Project Plan or the Act. The Project also includes eligible government and educational expenses and facilities. Project costs also include direct costs properly chargeable under the Act and generally accepted accounting principles for the administration of the LBP TIF Reinvestment Zone, including pro rata direct cost of any employee that works exclusively on TIF projects and administration. b. After all Project Costs have been paid or at the time of the termination of this Agreement, the CITY shall prepare and provide the HOSPITAL DISTRICT with a final accounting of the funds deposited to and disbursed from the Tax Increment Fund. C. Any funds remaining in the Tax Increment Fund following the final accounting by the CITY shall be paid to the Taxing Units in proportion to each taxing unit's share of the total amount of Tax Increment. Section 5. Termination of LBP TIF Reinvestment Zone. Upon termination of the LBP TIF Reinvestment Zone, all final expenses of LBP TIF Reinvestment Zone shall first be paid from remaining funds. Any funds remaining thereafter shall be distributed to all participants in a ratio reflecting their annual contribution. Section 6. Boundary. The boundaries of the LBP TIF Reinvestment Zone are and shall be those boundaries described in the Ordinance, or an amendment thereto revising the boundaries duly approved by the LBP TIF Reinvestment Zone Board of Directors and the City Council of the CITY. Section 7. Tenn. The term of this Agreement shall be for thirty years from the date the Reinvestment Zone was created or until such time as the Total Tax Increment has been paid into the Tax Increment Fund by the HOSPITAL DISTRICT, whichever event shall be the first to occur. However, in the event the requirements of Section 31 1.013, Texas Tax Code, have not been satisfied, this Agreement will terminate three (3) years from the date the reinvestment zone was created. Section 8. Amendments to Proiect Plan. The Project Plan may be amended from time to time, in accordance with the Act. Amendments shall be approved by the LBP TIF Reinvestment Zone Board of Directors and the City Council of the CITY. Amendments to the Plan that substantially change the nature and scope of the Project Plan as adopted December 16, 2009, shall be approved by the HOSPITAL DISTRICT. City and High Plains HOSPITAL District Interlocal LBP TIF Agreement Page 4 Exhibit B Section 9. Responsibility for Negligent Acts. The CITY and the HOSPITAL DISTRICT shall each be responsible for the sole negligent acts of their officers, agents, employees or separate contractors. In the event of joint and concurrent negligence of both the CITY and the HOSPITAL DISTRICT, responsibility, if any, shall be apportioned comparatively in accordance with the laws of the State of Texas, without, however, waiving any government immunity available to the CITY and the HOSPITAL DISTRICT under Texas law and without waiving any defenses of the parties under Texas law. Section 10. Administration. The City Manager or his designees shall administer this agreement. Section 11. Notification. Whenever this Agreement requires or permits any consent, approval, notice, request, proposal, or demand from one party to another, the consent, approval, notice, request, proposal or demand must be in writing to be effective and shall be delivered to the party intended to receive it at the addresses shown below: If intended for the CITY, to: City Manager City of Lubbock P.O. Box 2000 Lubbock, Texas 79457 If intended for the HOSPITAL DISTRICT, to: President and CEO UMC Health System P.O. Box 5980 Lubbock, Texas 79408-5980 or to such other addresses as the parties may request, in writing, from time to time. Section 12. Agreement Subject to Laws. This Agreement is made subject to the provisions of the Charter and ordinances of CITY, as amended; Texas constitution, codes, and statutes; and all other applicable state and federal laws, regulations and requirements, as amended. Venue shall be in Lubbock County, Texas. Section 13. Complete Agreement. This Agreement embodies the complete understanding of the CITY and the HOSPITAL DISTRICT superseding all oral or written previous and contemporary agreements between the parties relating to matters herein. This Agreement may be amended, modified, or supplemented only by an instrument in writing executed by the CITY and the HOSPITAL DISTRICT. Any alteration, additions or deletions to the terms of this Agreement required by changes in federal, state or local law or regulations City and High Plains HOSPITAL District Interlocal LBP TIF Agreement Page 5 Exhibit B will be automatically incorporated into this Agreement without written amendment, and shall become effective on the date designated by such law or regulation. EXECUTED this day the 25th day of March , 2010, by the Mayor of the CITY, duly authorized by Resolution No. 2010—RO145 approved on March 25 , 2010, and by the HOSPITAL DISTRICT, approved on November 16 , 2010. 2009. CITY OF LUBBOCK: TOM MARTIN, MAYOR ATTEST: Reb4ca Garza, City Secretary APPROVED AS TO CONTENT: r Rob Allts n, As'ista-nt..dy Manager Business Development APPROVED AS TO FORM: Linda Chamales, Economic Development Attorney LLC:Ic L:tCityaie, Linda — TIF I.,BP Hospital Interlocal January 12, 2010 LUBBOCK COUNTY I�WITAL DISTRICT L rl�� ' David Allison, Presi eat a EO APPROVED AS TO FORM: Lois `Vischkaemper, Attorney for Lubbock County Hospital District City and High Plains HOSPITAL District Interlocal LBP TIF Agreement Page 6 Resolution No. 2010-RO624 Exhibit C Resolution No. 2010-R0144 March 25, 2010 Item No. 5.20 RESOLUTION BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK: THAT the Mayor of the City of Lubbock BE and is hereby authorized and directed to execute for and on behalf of the City of Lubbock an Agreement between the City of Lubbock and High Plains Underground Water Conservation District to Participate in the Lubbock Business Park Tax Increment Financing Reinvestment Zone. Said Amendment is attached hereto and incorporated in this Resolution as if fully set forth herein and shall be included in the minutes of the Council. Passed by the City Council on March 25, , 2010. TOM MARTIN, MAYOR ATTEST: C-0 gig" �.�z Rebe a Garza, City Secretary APPROVED AST CONTENT: Rob Allison, ssis a y Manager For Development Services APPROVED AS TO FORM: Linda L. Chamales, Economic Development Attorney CityAtt l Linda: Res-LBP TIF Interlocai with Water Dist March 9.2010 Exhibit C CITY OF LUBBOCK AND NIGH PLAINS UNDERGROUND WATER CONSERVATION DISTRICT AGREEMENT TO PARTICIPATE IN THE LUBBOCK BUSINESS PARK TAX INCREMENT FINANCE REINVESTMENT ZONE This AGREEMENT is made and entered into by and between the City of Lubbock, (the "CITY"), a municipal corporation, and High Plains Underground Water Conservation District (the "WATER DISTRICT"), a political subdivision of the State of Texas, pursuant to the authority granted by and in compliance with the provisions of the Tax Increment Financing Act, V.T.C.A., Tax Code, Chapter 311, and in furtherance of the purposes of these parties as provided by law. WITNESSETH: WHEREAS, in accordance with the provisions of the Tax Increment Financing Act, V.T.C.A., Tax Code, Chapter 311, (the "Act") and after due notice to the WATER DISTRICT and other taxing units levying real property taxes in the area, the City Council of the CITY, pursuant to Ordinance No. 2009-00113 (the "Ordinance"), adopted on December 16, 2009, created, established and designated the Lubbock Business Park Tax Increment Finance Reinvestment Zone No. 3 ("LBP TiT Reinvestment Zone") under the Act; and WHEREAS, the Act provides that each taxing unit levying taxes on real property in a reinvestment zone is not required to pay into the tax increment fund any of its tax increment produced from property located in the LBP TIF Reinvestment 7._atte Limes., such taxing unit enters into an agreement to do so with the governing body of the municipality that created the zone; and WHEREAS, a tax increment agreement under the Act may be entered into any time before or after the zone is created, and such agreement may include any conditions for payment of the tax increment into the fund and must specify the portion of the tax increment to be paid into the Tax Increment Fund and the years for which that tax increment is to be paid into the Tax Increment Fund; NOW, THEREFORE, the CITY and the WATER DISTRICT, in consideration of the terms, conditions, and covenants contained herein, agree as follows: City and High Plains Water District Interiocal LISP TIF Agreement Page I Exhibit C t• Section 1. Definitions. a. "Act" means V.T.C.A., Tax Code, Chapter 311. the Tax Increment Financing Act. as amended. "Captured Appraised Value" means the total net taxable appraised value of the property located within the TIF District for the year less the Tax Increment Base of the TIF Taxing Units. C. "Project Plan" means the project plan and a reinvestment zone financing plan prepared in accordance with Section 311.011, Texas Tax Code, as approved by the CITY, and the LBP TIF Reinvestment Zone Board of Directors. d. "TIF District" means the Lubbock Business Park Tax Increment Finance Reinvestment Zone, No. 3, City of Lubbock, Texas, established by the Lubbock City Council, Ordinance No, 2009-00113, on December 16, 2009. e. "TIF Taxing Units" means those political subdivisions of the State of Texas authorized to impose ad valorem taxes on property located within the LBP TIF Reinvestment Zone. "Tax Increment" means, for any given year, the amount of real property taxes levied and collected by the WATER DISTRICT for the year on the Captured Appraised Value of taxable property located in the TIF District. g. "Tax Increment Base" means the total appraised value of all real property located in the LBP TIF Reinvestment Zone that is located in and taxable by the WATER DISTRICT as of January 1, 2009, the year in which the LBP TIF Reinvestment Zone was designated, plus the total appraised value of all real property taxable by the WATER DISTRICT and annexed to the LBP TIF Reinvestment Zone with the consent of the WATER DISTRICT, determined as of January I of the year in which the area was annexed to the LBP TIF Reinvestment Zone. h. "Tax Increment Fund" means the fund created by Ordinance 2009-00113 and consisting of all the Tax Increment deposits, all revenues from the sale of tax increment bonds or notes, revenues from the sale of any property acquired as part of the Project Plan and Reinvestment Zone Financing Plan, and other revenues to be used in the development or redevelopment of the LBP TIF Reinvestment Zone. i. "Total Tax Increment" shall mean the cumulative total amount of Tax Increment to be paid into the Tax Increment Fund by the WATER DISTRICT during the term of this Agreement, City and High Plains Water District lnterlocal LBP TIF Agreement Page r7:^ Exhibit C Section-'). WATER DISTRICT Obligations. The WATER DISTRICT hereby agrees to authorize the Lubbock Central Appraisal District (LCAD) to pay to the CITY for deposit into the Tax Increment Fund, an amount equal to one hundred percent (100%) of the Tax Increment levied against the captured appraised value of the real property taxable by the WATER DISTRICT and located in the LBP TIF Reinvestment Zone, not to exceed the Total Tax Increment, as defined, or until the thirty (30) year Term of this agreement is reached, except the following: a. Any funds which were levied by the WATER DISTRICT but were not collected, b. Any funds equal to tax refunds repaid by the WATER DISTRICT to taxpayers owning real property in the LBP TIF Reinvestment 'Zone, c. Any funds which represent penalty, interest or attorney's fees on any delinquent tax payments made to the WATER DISTRICT by taxpayers owning real property in the LBP TIF Reinvestment Zone, d. Any taxes uncollected by the WATER DISTRICT due to agriculture or other exemptions. Payment of such amount by LCAD on behalf of the WATER DISTRICT will be made within 90 days of date of delinquency for tax payments as prescribed by state law, or within 60 days following receipt of an invoice from the city, whichever is later. Any portion of the tax increment that is uncollected by LCAD on behalf of the WATER DISTRICT and withheld in accordance with this section but subsequently collected for the WATER DISTRICT shall be paid to CITY within 60 days of receipt. Section 3, Conditions. This Agreement to deposit Tax Increment to the Tax Increment Fund for the Reinvestment Zone is based on the following conditions, and the CITY agrees and acknowledges the WATER DISTRICT's right to enforce the conditions contained herein by injunction or any other lawful means in the event one or more of such conditions are not satisfied: Only project costs for public improvements within the LBP TIF Reinvestment Zone are to be paid with the Tax Increment, and b. In the case of the Tax Increment deposited to the credit of the Tax Increment Fund by the WATER DISTRICT, such Project Costs shall be limited to pay Project Costs for Infrastructure Improvements and other Public Improvements as set forth and identified in the Project Plan and Financing Plan. Section 4. CITY and LBP TIF Reinvestment Zone Obligations. City and High Plains Water District Interlocal LBP TIF Agreement Page 3 z Exhibit C a. CITY hereby agrees to place the funds paid by LOAD on behalf of the WATER DISTRICT, as determined in Section 311.012 of the Act, into the Tax Increment Fund to be utilized in the "LBP TIF Reinvestment Zone" for expenses authorized in Project Plan or the Act. The Project also includes eligible government and educational expenses and facilities, and direct costs properly chargeable under the Act and generally accepted accounting principles for the administration of the LBP TIF Reinvestment Zone, including pro rata direct cost of any employee that works exclusively on TTF projects and administration. b. After all Project Costs have been paid or at the time of the termination of this Agreement, the CITY shall prepare and provide the WATER DISTRICT with a final accounting of the funds deposited to and disbursed from the Tax Increment Fund. C. Any funds remaining in the Tax Increment Fund following the final accounting by the CITY shall be paid to the Taxing Units in proportion to each taxing unit's share of the total amount of Tax Increment. Section 5. Termination of LBP TIF Reinvestment Zone. Upon termination of the LBP TIF Reinvestment Zone, all final expenses of LBP TIF Reinvestment Zone shall first be paid from remaining funds. Any funds remaining thereafter shall be distributed to all participants in a ratio reflecting their annual contribution. Section 6. Boundary. The boundaries of the LISP TIF Reinvestment Zone are and shall be those boundaries described in the Ordinance, or an amendment thereto revising the boundaries duly approved by the LBP TIF Reinvestment Zone Board of Directors and the City Council of the CITY. Section 7. Term. The term of this Agreement shall be for thirty years from the date the Reinvestment Zone was created or until such time as the Total Tax Increment has been paid into the Tax Increment Fund by the WATER DISTRICT, whichever event shall be the first to occur. However, in the event the requirements of Section 311.013, Texas Tax Code, have not been satisfied, this Agreement will terminate three (3) years from the date the reinvestment zone was created. Section 8. Amendments to Project Plan. The Project Plan may be amended from time to time, in accordance with the Act. Amendments shall be approved by the LBP TIF Reinvestment Zone Board of Directors and the City Council of the CITY. Amendments to the Plan that substantially change the nature and scope of the Project Plan as adopted December 16. 2009, shall be approved by the WATER DISTRICT. City and High Plains Water District Interlocal L13P TIF Agreement Page 4 * Exhibit C `:.- Section 9. Responsibility for Negligent Acts. The CITY and the WATER DISTRICT shall each be responsible for the sole negligent acts of their officers, agents, employees or separate contractors. In the event of joint and concurrent negligence of both the CITY and the WATER DISTRICT, responsibility, if any, shall be apportioned comparatively in accordance with the laws of the State of Texas, without, however, waiving any government immunity available to the CITY and the WATER DISTRICT tinder Texas law and without waiving any defenses of the parties under Texas law. Section 10. Administration. The City Manager or his designees shall administer this agreement. Section 11. Notification. Whenever this Agreement requires or pen -nits any consent, approval, notice, request, proposal, or demand fi-om one party to another, the consent, approval, notice, request, proposal or demand must be in writing to be effective and shall be delivered to the party intended to receive it at the addresses shown below: If intended for the CITY, to: City Manager City of Lubbock P.O. Box 2000 Lubbock, Texas 79457 If intended for the WATER DISTRICT, to: General Manager High Plains Underground Water Conservation District 2930 Avenue Q Lubbock, Texas 7941 1 or to such other addresses as the parties may request, in writing, from time to time. Section 12. Agreement Subject to Laws. This Agreement is made subject to the provisions of the Charter and ordinances of CITY, as amended; Texas constitution, codes, and statutes; and all other applicable state and federal laws, regulations and requirements, as amended. Venue shall be in Lubbock County, Texas. Section 13. Complete Agreement. This Agreement embodies the complete understanding of the CITY and the WATER DISTRICT superseding all oral or written previous and contemporary agreements between the parties relating to matters herein. This Agreement may be amended, modified, or supplemented only by an instrument in writing executed by the CITY and the WATER DISTRICT. Any alteration, additions or deletions to the terms of this Agreement required by changes in federal, state or local law or regulations will City and High Plains Water District Interlocal LISP TIF Agreement Page _i Exhibit C be automatically incorporated into this Agreement without written amendment, and shall become effective on the date designated by such law or regulation. EXECUTED this day the 25th day of March , 2010, by the Mayor of the CITY, duly authorized by Resolution No. 2010—RO144 approved on March 25, 2010, 49-19, and by the WATER DISTRICT, approved on _ January 19th , 2010. CITY OF LUBBOCK: TOM MARTIN, MAYOR ATTEST: Reb ca Garza, City Secrets APPROVED AS TO CONTENT: Rob Alliso ssistant ity Manager Business Development APPROVED AS TO FORM: Linda Chamales, Economic Development Attorney LLCac L:'�C:ityatll, Unda—TIF LBP Watcrinrerlocal January 12, 2010 HIGH PLAINS UNDERGROUND WATER CONSERVATION DISTRICT Ch• •mai Board of it ctors APPROVED AS TO CONTENT: 4 Conkwright, Manager/'t APPROVED AS TO FORM: Attorne for High Plains Underground Water Conservation District City and High Plains Water District Interlocal LBP TIF Agreement Page 6 Resolution No. 2010—RO624 Exhibit D 071, CITY OF LUBBOCK AND LUBBOCK COUNTY AGREEMENT TO PARTICIPATE IN THE LUBBOCK BUSINESS PARK TAX INCREMENT FINANCE REINVESTMENT ZONE This AGREEMENT is made and entered into by and between the City of Lubbock, (the "CITY"), a municipal corporation, and Lubbock County. (the "COUNTY"), a political subdivision of the State of Texas, pursuant to the authority granted by and in compliance with the provisions of the Tax Increment Financing Act, V.T.C.A., Tax Code, Chapter 311, and in furtherance of the purposes of these parties as provided by law. WITNESSETH: WHEREAS, in accordance with the provisions of the Tax Increment Financing Act, V.T.C.A., Tax Code, Chapter 311, (the "Act") and after due notice to the COUNTY and other taxing units levying real property taxes in the area, the City Council of the CITY, pursuant to Ordinance No. 2009-00113 (the "Ordinance"), adopted on December 16, 2009, created, established and designated the Lubbock Business Park Tax Increment Finance Reinvestment Zone No. 3 ("LBP TIF Reinvestment Zone") under the Act; and WHEREAS, the Act provides that each taxing unit levying taxes on real property in a reinvestment zone is not required to pay into the tax increment fund any of its tax increment produced from property located in the LBP TIF Reinvestment Zone unless such taxing unit enters into an agreement to do so with the governing body of the municipality that created the zone; and WHEREAS, a tax increment agreement under the Act may be entered into any time before or after the zone is created, and such agreement may include any conditions for payment of the tax increment into the fund and must specify the portion of the tax increment to be paid into the Tax Increment Fund and the years for which that tax increment is to be paid into the Tax Increment Fund; NOW, THEREFORE. the CITY and the COUNTY, in consideration of the ternis, conditions, and covenants contained herein, agree as follows: City and County Interlocal LBP TIF Agreement Page I Exhibit D^ Section I. Definitions. a. "Act" means V.T.C.A., Tax Code, Chapter 311, the Tax Increment Financing Act, as amended. b. "Captured Appraised Value" means the total net taxable appraised value of the property located within the TIF District for the year less the Tax Increment Base of the TIF Taxing Units. C. "Project Plan" means the project plan and a reinvestment zone financing plan prepared in accordance with Section 311.011, Texas Tax Code, as approved by the CITY, and the LBP TIF Reinvestment Zone Board of Directors. d. "TIF District" means the Lubbock Business Park Tax Increment Finance Reinvestment Zone, No. 3, City of Lubbock, Texas, established by the Lubbock City Council, Ordinance No. 2009-00113, on December 16, 2009. e. "TIF Taxing Units" means those political subdivisions of the State of Texas authorized to impose ad valorem taxes on property located within the LBP TIF Reinvestment Zone. f. "Tax Increment" means, for any given year, the amount of real property taxes levied and collected by the COUNTY for the year on the Captured Appraised Value of taxable property located in the TIF District. g. "Tax Increment Base" means the total appraised value of all real property located in the LBP TIF Reinvestment Zone that is located in and taxable by the COUNTY as of January 1, 2009, the year in which the LBP TIF Reinvestment Zone was designated, plus the total appraised value of all real property taxable by the COUNTY and annexed to the LBP TIF Reinvestment Zone with the consent of the COUNTY, determined as of January 1 of the year in which the area was annexed to the LBP TIF Reinvestment Zone. h. "Tax Increment Fund" means the fund created by Ordinance 2009-00113 and consisting of all the Tax Increment deposits, all revenues from the sale of tax increment bonds or notes, revenues from the sale of any property acquired as part of the Project Plan and Reinvestment Zone Financing Plan, and other revenues to be used in the development or redevelopment of the LBP TIF Reinvestment Zone. "Total Tax Increment" shall mean the cumulative total amount of Tax Increment to be paid into the Tax Increment Fund by the COUNTY during the tetra of this Agreement, City and County Interlocal LBP TIF Agreement Page 2 Exhibit D �. y Section 2. COUNTY Obligations. The COUNTY hereby agrees to authorize the Lubbock Central Appraisal District (LCAD) to pay to the CITY for deposit into the Tax Increment Fund, an amount equal to one hundred percent (100'%) of the Tax Increment levied against the captured appraised value of the real property taxable by the COUNTY and located in the LBP TIF Reinvestment Zone, not to exceed the Total Tax Increment, as defined, or until the thirty (30) year Term of this agreement is reached, except the following: a. Any funds which were levied by the COUNTY but were not collected, b. Any funds equal to tax refunds repaid by the COUNTY to taxpayers owning real property in the LBP TIF Reinvestment Zone, C. Any funds which represent penalty, interest or attorney's fees on any delinquent tax payments made to the COUNTY by taxpayers owning real property in the LBP TIF Reinvestment Zone, d. Any taxes uncollected by the COUNTY due to agriculture or other exemptions. Payment of such amount by LCAD on behalf of the COUNTY will be made within 90 days of date of delinquency for tax payments as prescribed by state law, or within 60 days following receipt of an invoice from the city, whichever is later. Any portion of the tax increment that is uncollected by LCAD on behalf of the COUNTY and withheld in accordance with this section but subsequently collected for the COUNTY shall be paid to CITY within 60 days of receipt. Section 3. Conditions. This Agreement to deposit Tax Increment to the Tax Increment Fund for the Reinvestment Zone is based on the following conditions, and the CITY agrees and acknowledges the COUNTY's right to enforce the conditions contained herein by injunction or any other lawful means in the event one or more of such conditions are not satisfied: a. Only project costs for public improvements within the LBP TIF Reinvestment Zone are to be paid with the Tax Increment, and b. In the case of the Tax Increment deposited to the credit of the Tax Increment Fund by the COUNTY, such Project Costs shall be limited to pay Project Costs for Infrastructure Improvements and other Public Improvements as set forth and identified in the Project Plan and Financing Plan. Section 4. CITY and LBP TIF Reinvestment Zone Obligations. a. CITY hereby agrees to place the funds paid by LCAD on behalf of the COUNTY, as determines( in Section 311.012 of the Act, into the Tax fncrement Fund to be utilized in the "LBP TIF Reinvestment Zone" for expenses authorized in Project Plan or the Act. The Project also includes eligible government and educational expenses and facilities and direct costs properly chargeable under the City and County Interlocal LBP TIF Agreement Page 3 Exhibit l} :N Act and generally accepted accounting principles for the administration of the LBP TIF Reinvestment Zone, including pro rata direct cost of any employee that works exclusively on TIF projects and administration. b. After all Project Costs have been paid or at the time of the termination of this Agreement, the CITY shall prepare and provide the COUNTY with a final accounting of the funds deposited to and disbursed from the Tax Increment Fund. C. Any funds remaining in the Tax Increment Fund following the final accounting by the CITY shall be paid to the Taxing Units in proportion to each taxing units share of the total amount of Tax Increment. Section 5. Termination of LBP TIF Reinvestment Zone. Upon termination of the LBP TIF Reinvestment Zone, all final expenses of LBP TIF Reinvestment Zone shall first be paid from remaining funds. Any fiends remaining thereafter shall be distributed to all participants in a ratio reflecting their annual contribution. Section 6. Boundarv. The boundaries of the LBP TIF Reinvestment Zone are and shall be those boundaries described in the Ordinance, or an amendment thereto revising the boundaries duly approved by the LBP TIF Reinvestment Zone Board of Directors and the City Council of the CITY. Section 7. Term. The term of this Agreement shall be for thirty years from the date the Reinvestment Zone was created or until such time as the Total Tax Increment has been paid into the Tax Increment Fund by the COUNTY, whichever event shall be the first to occur. However, in the event the requirements of Section 311.013, Texas Tax Code, have not been satisfied, this Agreement will terminate three (3) years from the date the reinvestment zone was created. Section 8. Amendments to Project Plan. The Project Plan may be amended from time to time, in accordance with the Act. Amendments shall be approved by the LBP TIF Reinvestment Zone Board of Directors and the City Council of the CITY. Amendments to the Plan that substantially change the nature and scope of the Project Plan as adopted December 16, 2009, shall be presented for approval to the COUNTY. If the COUNTY does not approve the amendment, this Agreement may be renegotiated between the parties taking into account the tax increment previously committed for any projects, bonds, or interest on bonds. Section 9. Responsibility for Negligent Acts. The CITY and the COUNTY shall each be responsible for the sole negligent acts of their officers, agents, employees or separate contractors. In the event of joint and concurrent negligence of both the CITY and the COUNTY, responsibility, if any, shall be apportioned comparatively in accordance with the laws of the State of Texas, without, however, waiving any government immunity available to the City and County Interlocai LBP TIF Agreement Page 4 Exhibit D CITY and the COUNTY under Texas law and without waiving any defenses of the parties under Texas law, Section 10. Administration. The City Manager or his designees shall administer this agreement. Section 11. Notification. Whenever this Agreement requires or permits any consent, approval, notice, request, proposal, or demand from one party to another, the consent, approval, notice, request, proposal or demand must be in writing to be effective and shall be delivered to the party intended to receive it at the addresses shown below: If intended for the CITY, to: City Manager City of Lubbock P.O. Box 2000 Lubbock, Texas 79457 If intended for the COUNTY, to: County Judge Lubbock County P.O. Box 10536 Lubbock, Texas 79408 or to such other addresses as the parties may request, in writing, from time to time. Section 12. Agreement Subject to Laws. This Agreement is made subject to the provisions of the Charter and ordinances of CITY, as amended; Texas constitution, codes, and statutes; and all other applicable state and federal laws, regulations and requirements, as amended. Venue shall be in Lubbock County, Texas. Section 13. Complete Agreement. This Agreement embodies the complete understanding of the CITY and the COUNTY superseding all oral or written previous and contemporary agreements between the parties relating to matters herein. This Agreement may be amended, niodi6ed, or supplemented only by an instrument in writing executed by the CITY and the COUNTY. Any alteration, additions or deletions to the terms of this Agreement required by changes in federal, state or local law or regulations will be automatically incorporated into this Agreement without written amendment, and shall become effective on the date designated by such law or regulation. City and County Interlocal LBP T1F Agreement Page 5 Exhibit D EXECUTED this day the 25th day of march , 2010, by the Mayor of the CITY, duly authorized by Resolution No. 2010-RO146 approved on March 25 , 2010, and by the COUNTY through its County .fudge, duly authorized by Court Order No. ---""- approved on �, 2010. CITY OF LUBBOCK: LUBBOCK COUNTY: TOM MARTIN, MAYOR ATTEST: Re cca Garza, City Secreta APPROVED AS TO CONTENT: T IILI Rob Allis ,A s'imaut-City Manager Business Development APPROVED AS TO FORM: Linda Chamales, Economic Development Attorney LLCic Lr.Cnyam Linda - TIF 1.I3P County Interlocal March 17, 2010 JA.s+-�G` ! 44,4r TOM HEAD, COUNTY JUDGE ASAET: ei APPROVED AS TO FORM: B.J. ` en�i," HHemmeline, Deputy Criminal District Attorney, Civil Division Chief City and County Interlocal LBP TIF Agreement Page 6