HomeMy WebLinkAboutOrdinance - 2011-O0043 - Reivestment Zone By Chapter 312 Tax Code - 05/10/2011First Reading
May 10, 2011
Item No. 6.2
ORDINANCE NO. _20_1_1-_0_0_04_3 __ _
Second Reading
May 31, 2011
Item No. 5.16
AN ORDINANCE DESIGNATING A REINVESTMENT ZONE WITHIN THE
CITY OF LUBBOCK AS AUTHORIZED BY CHAPTER 312, TAX CODE;
DESCRIBING THE BOUNDARIES OF SAID ZONE; DESCRIBING THE
ELIGIBILITY OF SAID ZONE FOR COMMERCIAL-INDUSTRIAL TAX
ABATEMENT; PROVIDING A SA VINO CLAUSE AND PROVIDING FOR
PUBLICATION.
WHEREAS, Chapter 312 of the Tax Code authorizes the City Council of the City
of Lubbock to designate a Reinvestment Zone for Commercial-Industrial tax abatement
purposes; and
WHEREAS, the City of Lubbock has heretofore established its intent to
participate in tax abatement by Resolution and has established guidelines and criteria for
commercial-industrial tax abatement within the City of Lubbock; and
WHEREAS, the City Council of the City of Lubbock declared its intent to create
said Reinvestment Zone by its adoption of Resolution No. 2011-ROl 96 on April 28,
2011; and
WHEREAS, the City Council caused a Notice of Intent to create said
Reinvestment Zone to be delivered to all taxing units levying taxes on real property
within the zone; and
WHEREAS, the boundaries of the Reinvestment Zone were described in the
Exhibit A attached to and made a part of Resolution No. 2011-RO 196; and
WHEREAS, the City Council held a public hearing to consider the establishment
of said reinvestment zone which was conducted on May 10, 2011, prior to the adoption of
this Ordinance; and
WHEREAS, the City Council found at the conclusion of said hearing that the
improvements sought for the property within the Reinvestment Zone are feasible,
practical and would benefit the land; and
WHEREAS, the City Council of the City of Lubbock has determined and finds
that the real property to be included in the Reinvestment Zone will be reasonably likely
as a result of the designation to contribute to the retention or expansion of primary
employment and would contribute to the economic development of the City of Lubbock;
NOW THEREFORE;
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
SECTION I: THAT by and under the authority of Chapter 312, Tax Code, the
following described real property located within the City of Lubbock, County of
Lubbock, Texas, is hereby designated as a Reinvestment Zone:
Texas Instruments Tract A and Closed Street. Cit y of Lubbock. Lubbock County,
Texas
A map depicting the area designated as the Reinvestment Zone is at\ached hereto as
Exhibit i\ anJ hereby incorporated in this Ordinance.
SECTION 2. THAT the area or the Reinvestment Zone will be reasonablv likdv --as a result of the designation to contribute to the retention or expansion of primary
employment and will contribute to the economic development of the City of Lub bock .
SECTION 3. THAT should any paragraph section, sentence. phrase, clause or
word of this Ordinance be d "clared urn.:onstitutional or in valid for any reason. the
remainder of thi s Ordinance shall not be affected thereby.
SECTION 4. THAT the Cit y Secretary of the City of Lubbock 1s hcrt!by
authorized and directed to cause publ ication of the descriptive caption of thi s rdinancc
as an alternative method pro iclt:d by law.
II AND rr rs so ORDERi=D.
Passed by the City Council on first reading thi s -----'-'Ma==-yJ.__cl:c.cO,c__ ____ , 20 I 1.
Passed by the City Council on second reading this May 3 1 , 2011.
ATrl.-ST:
APP OVED AS TO CONTENT: ,--,-----ri ( \ / \ ~
4:2:Kl " .~ lL/~~~
Rob A lei (»l~~~ Manager
Development Services
APPROVED AS TO FOR I:
;' -~-(;~., t
Re 111vcst111cn1Zo11cOrd • X-I· al,
-l,~5.I1
TOM MARTIN, MAYOR
2
J.;0]
"' 0
"' "'
Exhibit A
X-Fab Reinvestment Zone
l401
J
Ordinance No. 2011-00043
... ,. J002 .
LIQtf>CI
D i--.. ,
:~ ·&! 'W ,> ;;1------1
,z
1m.1