HomeMy WebLinkAboutOrdinance - 8928-1986 - Ordinance 8928 Designating A Reinvestment Zone Authorized By Art. 1066F, V.A.C.S - 05/30/1986JCR:cl
First Reading
May 30, 1986
Agenda Item #6
Second Reading
June 2., 1986
Agenda Item 113
ORDINANCE NO. 8928
AN ORDINANCE DESIGNATING A REINVESTMENT ZONE WITHIN THE CITY Or
LUBBOCK AS AUTHORIZED BY ART. 1066f, V.A.C.S.; DESCRIBING THE BOUNDARIES Or
SAID ZONE; DESCRIBING THE ELIGIBILITY Or SAID ZONE FOR COMMERCIAL-
INDUSTRIAL TAX ABATEMENT; AND PROVIDING FOR A SAVINGS CLAUSE.
WHEREAS, Art. 1066g, V.A.C.S. authorizes the City Council of the City
of lubbock to create a Reinvestment Zone for commercial-industrial tax
abatement purposes; and
WHEREAS, the City Council of the City of lubbock did declare ita
intent to create such a Reinvestment Zone by its adoption of Resolution
2316, reference to such resolution being hereby made, at its meeting of May
22, 1986; and
WHEREAS, the City Council did cause a Notice of Intent to create such
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 was described in
Exhibit "A" attached and made a part of Resolution 2316; and
WHEREAS the necessary taxing units levying taxes on real property
within the zone have waived the requirement of 60 day notice of the City
Council's intent to create a Reinvestment Zone; and
WHEREAS the necessary taxing units levying real property taxes on
property within the zone have consented to a single formal presentation of
the Reinvestment Zone Plan by the City Council of the City of lubbock; and
WHEREAS, the City Council did adopt a Reinvestment Zone Financing Plan
for the zone hereinafter described; and
WHEREAS the City Council did hold a public hearing to consider the
establishment of a Reinvestment Zone as hereinafter described, said
hearing being held on May 30, 1986, prior to the adoption of this Ordi-
nance and did find that the improvements sought for the property within the
Reinvestment Zone are feasible, practical and would be a benefit to said
land; and
WHEREAS the City Council of the City of lubbock has determined and
hereby finds that the real property, hereinafter described, to be included
within the Reinvestment Zone is in a blighted area of the City of lubbock
and that such property substantially impairs or arrests the sound growth
and development of the City of lubbock in its present use; and
EXHIBIT "A"
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WHEREAS the City Council has previously found that the real property
to be included within the Reinvestment Zone was within a blighted area of
the City and was an economically depressed area all as set forth in
Resolution Number 1769, reference to which is hereby made for all purposes;
and: NOW THEREFORE: -
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY or LUBBOCK:
SECTION 1. THAT by and under the authority of Art. 1066f, V.A.C.S.,
the following described real property located within the City of Lubbock,
County of Lubbock, Texas is hereby designated as a Reinvestment Zone:
FIELD NOTE DESCRIPTION for a 28.46 acre tract of land out of Section
5, Block 0, Lubbock County, Texas, further described by metes and
bounds as follows:
BEGINNING at a 1/2" rod set in the East line of said Section 5, Block
0, S.00°03'40" E. a distance of 1375.03 feet from the Northeast corner
of the Southeast 1/4 of said Section 5, Block 0, Lubbock County,
Texas;
THENCE S. 00°03'40" E. along the East line of said Section 5, Block 0,
a distance of 989.62 feet to a J/8" rod set in the Northwesterly
right-of-way line of the Ft. Worth & Denver R.R.;
THENCE s. 45°21 105" W. along said R.R. right-of-way line a distance of
391.29 feet to a 3/4" iron pipe;
THENCE S. 89°30'3811 W. a distance of 589.37 feet to a 1/2" rod set in
the Easterly right-of-way line of Loop 289;
THENCE N. 00°03 1 W. along said Easterly right-of-way line a distance
of 30.89 feet to a 1/2" rod set in said Easterly right-of-way line;
THENCE S. 89°38' W. along said Easterly right-of-way line a distance
of 20.00 feet to a 1/2" rod;
THENCE Northwesterly around a curve to the right, along the Easterly
right-of-way line of Loop 289, said curve having a radius of 85.00
feet, delta angle of 84°36 1 , tangent lengths of 77.34 feet, and a
chord distance of 114.41 feet to a 1/2" rod set in said Easterly
right-of-way line;
THENCE N. 05°46' W. along said Easterly right-of-way line a distance
of 665.00 feet to a 1/2" rod set in the Easterly right-of-way line of·
Loop 289;
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THENCE N. 00°03 1 W. along said Easterly right-of-way line a distance
of 491 .67 feet to a 1/2" rod;
THENCE N. 89°30'38" E. a distance of 1039.35 feet to the PLACE OF
BEGINNING.
SECTION 2. THAT the area of the Reinvestment Zone as described in
Section 1 of this Ordinance, is eligible for such designation in that its
present use substantially impairs or arrests the sound growth of the City
of Lubbock and constitutes an economic liability for the City in that the
property has never been platted and is predominantly open and undeveloped
and has been in such condition for over ten (10) years even though such
property is adjacent to Loop 289 and has rail access.
SECTION 3. THAT should any section, paragraph, sentence, clause,
phrase or word of this Ordinance be declared unconstitutional or invalid
for any reason, the remainder of this Ordinance shall not be affected
thereby.
AND IT IS 50 ORDERED:
Passed by the City Council on first reading this 30th day of May, 1986.
Passed by the City Council on second reading this 2nd day of June
1~a~ ..
'B.C. cMNN, MAYOR
ATTEST:
APPROVED AS TO fORM:
orney
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