HomeMy WebLinkAboutResolution - 2004-R0208 - Amendment To Agreement - Mccanton Woods, Ltd. - 04_22_2004Resolution No. 2004-RO208
April 22, 2004
Item No. 54
RESOLUTION
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
THAT the Mayor Pro Tem the City of Lubbock BE and is hereby authorized and
directed to execute for and on behalf of the City of Lubbock an Amendment to the
Agreement between the City of Lubbock and McCanton Woods, Ltd. regarding the
funding of acquisition of additional property in the North Overton Tax Increment Finance
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 22nd day of April , 2004.
T.J. P ARSON, Mayor Pro Tem
r
ATTEST:
Rebe ca Garza, City Secretary
APPROVED AS TO CONTENT:
iA G
If-
t"r-aig F er, Manag' g4bDirec
of Planning and Transportation
APPROVED AS TO FORM:
Linda L. Chamales, Supervising Attorney
Office Practice Section
City Att / Linda: Res -NO TTIF amend to reimb.Agret-McCanton Woods
April 12, 2004
Resolution No. 2004-RO208
April 22, 2004
Item No. 54
AMENDMENT TO AGREEMENT BETWEEN THE
CITY OF LUBBOCK AND MC CANTON WOODS, LTD.
REGARDING ACQUISITION OF ADDITIONAL PROPERTY IN THE NORTH
OVERTON TAX INCREMENT FINANCING REINVESTMENT ZONE
STATE OF TEXAS §
COUNTY OF LUBBOCK §
This agreement is entered into by the City of Lubbock, a Texas municipal
corporation (hereinafter called "City") and McCanton Woods, Ltd. (hereinafter called
"Developer").
WHEREAS, City and Developer entered into an Agreement regarding
acquisition of additional property in the North Overton Tax Increment Financing
Reinvestment Zone on February 5, 2004; and
WHEREAS, City and Developer desire to amend this Agreement to clarify the
Developer obligations regarding costs and expenses;
NOW, THEREFORE, in consideration of the foregoing and of the mutual
covenants and agreements herein, the Parties agree as follows:
I.
Article IV, Section 4.1 entitled " DEVELOPER OBLIGATIONS" is amended to read as
follows:
"4.1 In accordance with the City of Lubbock Redevelopment Policies and Tax
Increment Finance Policies, the Developer agrees to pay all costs,
expenses, liabilities and damages (including, but not limited to those costs
detailed in paragraphs 4.2, 4.3, 4.4, 4.5 and 4.6 below) which are incurred
by the City of Lubbock related to the acquisition by condemnation or the
conveyance of any properties acquired or purported to be acquired in the
condemnation process of the two properties described in Exhibits B and
C."
Amendment to Agreement re Property Acquisition- City / McCanton Woods
EXECUTED in duplicate and effective as of the 22nd day of April , 2004.
CITY OF LUBBOCK McCANTON WOODS, LTD.
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T.J. PATTERSON, McD EQUIPMENT LEASING, L.C.,
Mayor Pro Tem General Partner
By: Delbert G. McDougal, Sole Manager
ATTEST:
Reb cca Garza, City Secretary v
APPROVED AS TO CONTENT:
Craig Farmeriv, Managing Director
of Planning and Transportation
APPROVED AS TO FORM:
Linda Chamales, Supervising Attorney
Office Practice Section
City Att / Linda: Amend- NO TIF Prop Acq Agmt
April 20, 2004
Amendment to Agreement re Property Acquisition — City / McCantoTi Woods 2