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HomeMy WebLinkAboutOrdinance - 2006-O0108 - Ordinance Designating A Reinvestment Zone Describing Boundaries - 10/13/2006First lleading October 13, 2006 Item No. 6.4 ORDINANCE NO. 2006-00108 Second Reading October 26, 2006 Item. No. 5.1 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 SAVING 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 did declare its intent to create said Reinvestment Zone by its adoption of Resolution No. 2006-R0468 on September 28, 2006; and WHEREAS, City Council did cause 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. 2006-R0468; and WHEREAS, the City Council did hold a public hearing to consider the establishment of said reinvestment zone as hereinafter described, which said hearing was conducted on October 13, 2006, prior to the adoption of this Ordinance; and WHEREAS, the City Council did find 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 1: 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: METES AND BOUNDS DESCRIPTION OF TWO TRACTS OF LAND THAT MAKE UP THE LIA NORTH REINVESTMENT ZONE. METES AND BOUNDS DESCRIPTION of a 170.53 acre tract ofland located in Section 38, Block D, Lubbock County, Texas, being further described as follows: BEGINNING at a "PK" nail found at the Southwest corner of this tract which bears N. 88°33'49" W. a distance of 5287.13 feet from the Southeast comer of said Section 38; THENCE N. 1 °04'04" E., along the centerline of a paved county road, (old U.S. 87) a distance of 1825. 72 feet to a point of intersection; THENCE Northeasterly, along said centerline, along a curve to the right, said curve having a radius of 2864.60 feet, a central angle of 10°07'00", a chord bearing ofN. 6°08'40" E., and a chord distance of 505.14 feet to a point of intersection; THENCE N.11 °12'08" E., continuing along said centerline a distance of 309.80 feet to a point of intersection; THENCE Northeasterly, continuing along said centerline, along a curve to the left, said curve having a radius of2864.99 feet, a central angle of3 °37'14", a chord bearing of N.9°24'14" E., and a chord distance of 181.01 feet to a point of intersection; THENCE S. 88°46'27" E., at 50.31 feet pass a½" iron rod with cap found in the East right-of-way line of said county road, continuing for a total distance of 2531.92 feet to a ½" iron rod with cap set for the Northeast comer of this tract; THENCE S. 1 °13'33" W., at 2773.02 feet pass a½'' iron rod with cap found in the North right-of-way line of FM Highway No. 1294, continuing for a total distance of 2823.02 feet to a point in the South line of said Section 38; THENCE N. 88°33'49" W., along the South line of said Section 38 a distance of2649.62 feet to the Point of Beginning. AND METES AND BOUNDS DESCRIPTION of a 131.12 acre tract of land located in Section 38, Block D, Lubbock County, Texas, being, the North portion of that 301.648 acre tract ofland recorded in Volume 7108, Page 73 Real Property Records of Lubbock County, Texas, being further described as follows: 2 BEGINNING at a cross chiseled on concrete found in the centerline of a paved county road, (old U.S. 87) at the Southwest comer of this tract which bears N. 88°33'49" W. a distance of S 179. 77 feet and N. 01 °26' 11" E. a distance of 2813 .69 feet from the Southeast comer of said Section 38, Block D, Lubbock County, Texas; THENCE Northeasterly, along said centerline, along a curve to the left, said curve having a radius of2864.99 feet, a central angle of05°54'38", a chord bearing ofN.04°38'18" E., and a chord distance of295.42 feet to a point of intersection; THENCE N. 1 °44 '07" E., continuing along said centerline a distance of 343.52 feet to a point of curvature; THENCE Northeasterly, continuing along said centerline, along a curve to the right, said curve having a radius of 1432.39 feet, a central angle of 25 °00'00", a chord bearing of N.14°05'40" E., and a chord distance of 620.05 feet to a point of intersection; THENCE N. 26°37'44" E., continuing along said centerline a distance of 574.36 feet to a point of curvature; THENCE Northeasterly, continuing along said centerline, along a curve to the left, said curve having a radius of 1273 .24 feet, a central angle of 3 2 °52' 21 ", a chord bearing of N. 10°12'07" E., and a chord distance of 720.52 feet to a point of intersection in the North line of said Section 38; THENCE S. 88°44'36" E., along the North line of said Section 38, at 50.41 feet pass a ½" iron rod with cap set in the East right-of-way line of said county road, continuing for a total distance of2014.38 feet to a½" iron rod with cap set for the Northeast comer of this tract; THENCE S. 01 °13 '33" W., a distance of 24 72.32 feet to a ½" iron rod with cap found at the Southeast comer of this tract; THENCE N. 88°46'27" W., a distance of2531.92 feet to the Point of Beginning. SECTION 2. THAT the area of the Reinvestment Zone will be reasonably likely 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 Lubbock. SECTION 3. THAT should any paragraph, section, sentence, phrase, clause or word of this Ordinance be declared unconstitutional or invalid for any reason, the remainder of this Ordinance shall not be affected thereby. 3 AND IT IS SO ORDERED. Passed by the City Council on first reading this 13th day of October Passed by the City Council on second reading this 1.6th day of October ATTEST: APPROVED AS TO CONTENT: APPROVED AS TO FORM: ~~c ~ ~~~ Linda L. Chamales, Senior Attorney Office Practice Section LC:cityatt/Linda/RcinvestmentZoneOrd September I 8, 2006 4 2006. , 2006.