HomeMy WebLinkAboutOrdinance - 2002-O0110 - Designating A Reinvestment Zone Authorized By Chapt.312 Tax Code:Zone Boundarie - 10/10/2002First Reading
October iO, 2002
Item No. 46
Second Reading
October 24, 2002
Item No. 14
ORDINANCE NO. 2002-oouo
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 ofthe Tax Code authorizes the City Council ofthe 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. 2002-R0405 on
September 26, 2002; 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. 2002-R0405; 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 10, 2002, 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:
Beginning at the northwest comer of 34th Street and A venue A; thence north
along the west line of A venue A to the southwest comer of the intersection at A venue A
and 30th Street, thence west along the south line of 30th Street to the southwest comer of
the intersection of 30th Street and Avenue B; thence south along the west line of Avenue
B to the northwest comer of the intersection of Avenue Band 34th Street; thence east
along the north line of 34th Street to the point of beginning. Also including Tract A,
Ruffles Addition of Lubbock County which is contiguous with the west line of A venue
B.
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 ofthe 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.
AND IT IS SO ORDERED.
Passed by the City Council on first reading this lOth day 2002.
Passed by the City Council on second reading this 24t:biay of-A-=::.;;cr=-' 2002.
ATTEST:
Rebecca Garza, City Secretary
APPROVED AS TO CONTENT:
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APPROVED AS TO FORM:
Ddord/ReinvestmentZoneOrd
August 2 I, 2002
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