HomeMy WebLinkAboutOrdinance - 2009-O0113 - Designating/Describing Boundaries Of A Tax Incremebt Zone: Business Park - 12/02/2009First Reading
Dece.ber 2, 2009
Itea No. 6.2
ORDINANCE NO. 2009-oOlll
Second Reading
Dece.ber 16, 2009
!tea No. 5.16
AN ORDINANCE DESIGNATING AND DESCRIBING THE
BOUNDARIES OF A TAX INCREMENT FINANCING REINVESTMENT ZONE
4 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 ofthe 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 publ ished in the Lubbock
Avalanche-Journal, a daily paper of general circulation in the City, such publication date
being not later than seven (7) days prior to the date of the public hearing; and
Business Park TlF Ordinance
Page I
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
Financing Reinvestment Zone, the boundaries of the proposed Tax Increment Financing
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
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
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
proposed Tax Increment Financing Reinvestment Zone and/or the inclusion of their
property in such Tax Increment Financing Reinvestment Zone; and
WHEREAS, the proponents of the Tax Increment Financing Reinvestment Zone
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.
SECTlON 2: THAT the City Council, after conducting such hearing and having
heard such evidence and testimony, has made the following findings and determinations
based on the evidence and testimony presented to it:
Business Park TIF Ordinance
Page 2
a) That the public hearing on adoption of the Tax Increment Financing
Reinvestment Zone has been properly called, held and conducted and that
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
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 ts "unproductive, underdeveloped or blighted" within the
meaning of article VIII, section 1-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 rolls 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.
f) 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 TlF Ordinance
Page3
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
Reinvestment Zone shall hereafter be identified as the Lubbock Business Park Tax
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 (l) 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.
Business Park TIF Ordinance
Page 4
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 chainnan and
other officers as it sees fit.
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 Tax 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
tennination 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 I, 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
for the Zone which may be divided into such sub-accounts as may be authorized by
subsequent resolution or ordinance, into which all Tax Increments, less any of the
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
Business Park TIF Ordinance
Page 5
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
PAS SED by the City Council on first reading this 2nd day of December, 2009.
PASSED by the City Council on second reading this 16th day ofDecember, 2009.
ATTEST:
APPROVED AS TO CONTENT:
, Assistant City Manager
Development Services
TOM MARTIN, MAYOR
Business Park TIF Ordinance
Page 6
APPROVED AS TO FORM:
,-,.--::~_~~?~~
Linda L. Chamales
Economic Development Attorney
LC:/Cityatl/Linda/Tif.Ord-Bus Park
November 19 , 2009
Business Park TIF Ordinance
Page7
Ordinance No. 2009-00113
Euibit "A"
METES AND BOUNDS OESCRIPTJON of 1 588.097 acre tract of land befng Section 7, Bfack A. Lubbock
County, Tua, being furth• described a1 follows:
BEGINNING at a railroad spike found in !he Nol'1h lint of Section 7, Blade A. at the NCithwest comer of
!his tract which ben N. 88.45'5cr E. a distance of the 260.03 feet from lhe Northwest com• of Section
7, Blodl A. Lubbock County, Ttxa1;
THENCE N. es••s·scr E., along the Norih tine of said Section. a dlstance of 121.02 feet to 1 paint at the
Northwest corrw Gf a tract of land recorc11d In Volume 393, Page 505 Oeld Record• of Lubbock County.
Texaa, for a com• of thla ll'ad;
THENCE S. oo-14'1o-E. (Deed North-South), along the Wilt line of said cract recorded In Volumel03,
Page 505, at 12.00 r..e paq a f/7' Iran rod wittl cap selln ,.,_..,ce. continuinG far 1 toml dlstance of
112.00 fHt to a 112•rron rod with cap sel at lhl Southwest camw of said tract riCOided In Vctwne 393,
Page sot. f« a cam• or thll tract;
THENCE H. aa•.wscr E. (Deed Ealt-WIIt), along lhe South J)'Je of laid tract I1ICGided n Volume 383,
Page 505, • dlatance a1100.00 fall fD a1/Z' Iran rod wtt1 cap sat at !he Southuet cam• of said Inlet
recorded In VCJiuma 393, Page 50S fat a com• of tt1t1 tract
THENCE N. oo•t4'1cr' W. (Deed Notth-South). along lhe Eut rne ~ saJd tract reccwded In Vokme 383,
Page 505, at 100.00 feet pan a 117' /ton rod with cap set In ret.~ canttrung ror a toW distance rA
112.00 feet to • 1t.r' Iron rod wflh cap set In the North line rA saJd Sedan 7. 8lodc A at the Nordteaat
com• d said Inlet recorded h VDJume 393, Paga soe. for 1 com• tA thla tract;
THENCE N. at•45'50" e .• along the NGr1tt Jlne of said Sec:lfon, • dflf8'a d 12.75 reee to a point atlhe
Northwelt com• of a tract of fand cfelcrlbld In Volume 1851. Page 251, Deed Reccrda of Lubbadc
County. rexa .. tot a earrw ol.,.lracf;
THENCE s. oo•12'1e-E. (Deeds. oo·otr21" w. 122.00 felt). alonG the w.e tine af l8ld tract diiCIIJid
In Volume 1858, Page 251. at 0.14 felt p .. 11'811roM 1plke found In ,.,.,.a. at 30.15 fNt PM' I W
Iran rod taVld In IR •a. canfhllnt fc:r I totlf dJit8nce d 122.18 fMt to a 3/r nn 104 found at the
Soutllwett com• of said nc:t olllnd recarded In Volume 1851, Paa-255. for a cam• oiiNI net
THENCE N. ae••1r E (Deed s. 8&-51"34. E.). along the Saultl nne d said tract dlleribed In VoturM
1951. P-ae 255. a dllfMca ol1 17.00 r.t tD 1 112" Iran rod wffh cap ut at Ill Souttleul com• o/Mid
tract ot fand rac:anred ln Volume f~ PaGe 255, far 1 com« of lttfl lrad;
THENCE N. O«r12'1e-W. (Deed N. ocro8'2r E. 122.00 feet). along tile EMt line o1181d tract of Jard
rec:«dld In Volume 18!8, Page 255, al 92.01 feet paa 1 W tan rod fOWid fn rafw1nce. ae 122.02 feet
pau a ralroad spike found In retarenc:e. CCinttnulng for a total dlatatct~ tA 122.24 fNI to a P<J'nt at the
Northeut com« of said nc:t recanted In Vofuma 1858, Page 251. In the Nortt llna of said Sec:dan, for a
com• of tltlt net;
THENCE N. sa•46'50" e.. along lha NOf1tlllne of said Sldfon, • distance ot 464a.14 feet to a railroad
spike found In lhe WHt rfght-ol-way Jrne of Martin L.uth« J<Jng Jr. Boulevard. 111 Wananly Oeed to the City
of Lubbock ill intflunle'lt of record In Volume 1419, Page 803, Oa.d Recordt of lubbodl CCXJnty, Taxa,
at lha NOI'tt1eatt can• olltlll tract
THENCe s. 00~3'4r e. (Deed s. 01•55'42• w. 319.88 teet). along lf1e w..c rlgtlt-ot-way tine o1 said
Mattfn Lulh• King Jr. StJCJt.vft, a d/ance ol31f.11 feel to 1 W m rod found ac a point ot am~tan;
THeNCE Soulhwesterfy, continuing along !he West rfght-d.wa, ·line d said Manm Luther King Jr.
Sout4Mird. atOUI'1d 1 CUfW ro the right. said curve h~ • radlJI ol5874.51 feet. a central angled o 1"3roa· (Deed o1•3rocn. • chord dis lanced 180. 19 fHt (Deed 1 ao. 1 1 feet) 111d a dl«d be.tng a1 s.
oo•2e'Oa• w. (Deeds. o2•.u·u· W.) to 1 JJI" iron rocl found at a pofnt ot intersacuon;
THENCE S. 01"13'02" W. (Oeed S. 03"32'42" W. 1237.52 fHt), ccntfnutng along the West right-of-way
line of said Maltln luth«l<lng Jr. Boulevard, a distance ot 1237.51 feet to a 3/r iran rod found at 1 point
of curvature;
THENCE Soulhwestllfy, conUnulng along the West right-of-way line of said Martin Luth• King Jr.
Boul8'111'd, around a curve to t11e left. said curve having a radklt al 5814.51 feet. a central ~e of
01"3TSi" {Ceed 01"38'00'"),. chard dlstance of 184.88 feet (Ceed 184.90 feet) 8l1d I chotd bearing of s.
00"28'11• W. (Deeds. ~43'42" W.) to a 3/r Iron rod found at • point cllnlnec:tlon:
THENCE S. 00~'41" W. (Oeed S. 01"54'4r W. 1981.n feel). continuing along tM Wut rfght-of-way
line of slid Martin Lultl• King Jr. Boulewrd, a distance of 1981.84 fMt to • 318"1ron rod faund ac a point
of curvature:
THENCE Southwnterty, continuing aJang lhe West r1ght-of.way J~e of aaid Mar1ln lulher l<i1g Jr.
Boulavard, around a curve to the left. sat c:uw h.vtng 1 radlua cl5474.51 teet. a c:entra1 an~• a1
01"43'31• (Deed 01"43'30'"), a chard distance of 174.18 fMt (Oeed 174.15 feet) and a chord b.mg d S.
01"1 5'41" E. (Deed s. 01"02'57" W.) to a 31a•1ron rod with cap found at a comer rl tttlll tract;
THENCE S. 02"01'33• E., ccnllnulng along the Welt lfght-d-way line of 18Jd .Midn luth« la'lg Jr.
Boulevard, a dlatanc:e of 231.58 feet to a 112" Iron rod found at lhe Narlleut earn« cl Lat 1, Lubbock
Flre Oapartment Addition, to the City of L.u~Jbcd. Lubbock County, Texu, according to 1t1e map. plat
andlot dedication deed lhereat recorded rn Volume 5943. Page 158. Real Propetty Record~ ct lubbock
County, Texae, at a comer of ttJJa tract;
THENCE S. 89"41'4cr W. (PlatS. 89•40'-40" W). aklng the NCif1tlllne of said lat 1, a dfatancl of 800.00 reet to a 1/r rron rod with cap round at lhe Nat1hwe.t cam« ot said Lot 1 at a cam• at lhll tract;
THENCE S. 00"24'57 E. (Pfat S. oo-25'3a' E.). along the Weetllne of Mid Lat 1, a dlltMce d 1000.00
feetlo a 1rr 1ra1 rod with cap found atlhe Soulhwelt earner of IMt Lot 1, rn lhe Norfl ~line of
Urwulfne Srreet for tilt South881t c:cm• ollhr. tract
THENCE S. aa•..a40" W., alonG the Norftl rfght-or-way line of said llrluJne SlrHt. a dlltanc:e o14374.50
feet 10 a f 12•1ran rod wt1t1 cap HI for a point of c:urvaeure:
THeNce~ arout1d a curve CD the tfght, sakf curve having • radful ot 15.00 reet. ~nt angle
of 90"00'0Cr and a chord distance of 21.21 feet to a 117" Iron wHII cap set In ttw Eat tfghl-of-way One d
Nottlt AMI Awnue for a non-tangent point cl._.edlan;
THENCE N. 00"17'44• W., along the Eat right-ot-way lfne ol North Nit. Avenue, a dlltanc:e of 922.44 feet
to a 1/Z' Iron rod With cap set In lhe Eat rfght-of·way line of lntnfata No. 21 at reftect.ecf In Deed
(Controllad Aa:eaa HJGhway Facility) to the State of Texa~ in intfrwnent d record In Volume 1418, Page
688. OHCf Rac:arde d LubbocJc County, Tea, for a poi1t ot CU'YIU8;
THENCE Nor1heaatetfy, alq the East right-of-way IJne d !aid lntentate No. 27, granted to lhe Stafa ot
Tex.a. In Instrument of record In Volume 1418, Page 881, and In Volume 1383, Page 148, rnp~.
Oeed Records cllubboct Counry, Taxa., afont a ane to !he left, uld curve having a radlu8 of t910.08
feet. a cenwm angft d 18"39'0r, a dtGnf dlsCMc:e cl553.11t fe« and a ch«d burfng at H. 11•11'30" E.
for a point ol Intersection:
THENCE H. 09~'33" E. (OHd N. 09.50'00"' c. 1005.24 fHtJ, COtJtlnulng along the Ease rfght-d-way line
ot said /ntarltat.e No. 27, at rel!ec:Wd h Deed (Contn:llled Ac:clu H~ Fadlll)') ta the State a1 Texu
in lnsbunent d raeord in Volume 1383, Page 141, Deed Recotdt cl Lubbodc Coonty. Texa~, a dfsfalce
of 1005.21 feet to a 112"1ron rod wittt cap set'«" a comer of th,. tract
THENCE N. ().4•37'38• W. (Oeed N. Q.4•1cr19• W. 1408.38 feet), continuing along the East right-of-way
rlne ot said lntntate No. 27, a di$tance d 1408.23 feet to a 112•1ron rod found at a comer ol thil ~
THENCE N. 01.29'0&-W. (Oeed N. 01•01'00" W. 1429.55 feet), continuing along the East right-of-way
line of said lntentate No. 27, a dlstanc. of1427.37 feet to lhe Point ol8eginning;
ExhibitB
LEGEND NOITM • Business Park TIF Boundary
' . L-··-~~,J LEOA Developed Parcels 0 500 1000
Feet
Proposed Boundaries Showing Existing Development
Lubbock Business Park TIF
Business Park TIF Boundary
LEDA Developed Parcels
Exhibit B
IIOIITM • 0 500
Feet
Ordi nance No. 2009-00113
1000 uboock
HUS
Proposed Boundaries Showing Existing Development
Lubbock Business Park TIF