HomeMy WebLinkAboutResolution - 2008-R0401 - Tax Abatement Agreement Termination - Hurley Companies - 10/23/2008Resolution No. 2008-RO401
October 23, 2008
Item No. 5.3
RESOLUTION
WHEREAS, the City Council has determined to give notice of its intent to terminate a
tax abatement agreement approved June 23, 2005 between the City of Lubbock and Hurley
Companies; and
WHEREAS, V.T.C.A. Tax Code Section 312.2041 requires notice of intent of the City
Council to be given to the presiding officer of the governing body of each taxing unit in which
the property to be subject to the Tax Abatement Agreement is located; NOW
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
THAT the City Secretary give notice as set forth in Exhibit "A" of the intention of the
City Council to terminate an existing Tax Abatement Agreement with Hurley Companies,
approved June 23, 2005. Said notice shall be given to the presiding officers of each governing
body of each taxing unit having jurisdiction in assessing taxes on 2902 Municipal Drive, which
is further described as Lot 5, Lubbock Industrial Park Addition to the City of Lubbock,
Lubbock County, Texas.
Passed by the City Council this 23rd day of October 2008
e/ �
TOM MARTIN, MAYOR
ATTEST:
Rebe ca• Garza, City Secretary
APPRVEnST ONTENT:
Rob All' on, Assi Manager
Development Services
APPROVED AS TO FORM:
Linda L. Chamales
Economic Development Attorney
Resolution No. 2008 RO401
EXHIBIT "A"
NOTICE OF INTENT OF THE CITY COUNCIL
OF THE CITY OF LUBBOCK TO TERMINATE AN AGREEMENT
TO ABATE TAXES ON REAL AND PERSONAL PROPERTY
LOCATED AT 2902 MUNICIPAL DRIVE
WHICH IS FURTHER DESCRIBED AS LOT 5 LUBBOCK INDUSTRIAL
PARK ADDITION TO THE CITY OF LUBBOCK, LUBBOCK COUNTY,
TEXAS
Notice is hereby given that the City Council of the City of Lubbock intends to
terminate an existing tax abatement agreement approved June 23, 2005, with Hurley
Companies on property located within the Lubbock 2000 North Enterprise Zone created
by Ordinance No. 2000-00032 and covering all of the subject property.
Notice is further given that the City Council of the City of Lubbock will
consider authorizing the Mayor of the City to execute a Termination Agreement
between the City and Hurley Companies terminating the existing tax abatement
agreement, a draft copy of said Termination Agreement is attached to this notice as
Exhibit "A-1" and made a part hereof for all purposes.
Notice is further given that the City Council will consider this matter at its
meeting held in the City Council Chamber, City Hall, 1625 13th Street, City of
Lubbock, on the 25h day of October, 2008, at approximately 9:30 o'clock a.m.
Exhibit "A-1" Resolution No. 2008-RO401
STATE OF TEXAS §
KNOW ALL MEN BY THESE PRESENTS:
COUNTY OF LUBBOCK §
TERMINATION AGREEMENT
This Agreement is entered into by the CITY OF LUBBOCK (referred to herein
as "City"), a Home Rule Municipality of Lubbock County, Texas, and The Hurley
Companies (referred to herein as "Company").
WITNESSETH:
WHEREAS, City executed a Tax Abatement Agreement with Company on June
23, 2005, granting a five year declining scale tax abatement on the property AT 2902
Municipal Drive, Lubbock, Texas, which is further described as Lot 5, Lubbock
Industrial Park Addition to the City of Lubbock, Lubbock County, Texas; and
WHEREAS, Section 312.208(b) of the Texas Tax Code allows for termination of
the Tax Abatement Agreement by the mutual consent of the parties; and
WHEREAS, City and Company each desire to terminate this Agreement;
NOW THEREFORE, City and Company agree as follows:
The Tax Abatement Agreement between the City of Lubbock and The Hurley Companies
approved June 23, 2005 by Resolution No. 2005-R0265, is hereby terminated. The
property is located at 2902 Municipal Drive, Lubbock, Texas, and is further described as
Lot 5, Lubbock Industrial Park Addition to the City of Lubbock, Lubbock County, Texas.
Termination Agreement — The Hurley Companies Tax Abatement
Exhibit "A-1"
Executed this day of , 2008.
CITY OF LUBBOCK THE HURLEY COMPANIES
TOM MARTIN, MAYOR
ATTEST:
Rebecca Garza, City Secretary
APPROVED AS TO CONTENT:
Rob Al on, Ass' ity Manager
Business Services
APPROVED AS TO FORM:
Linda Chamales,
Economic Development Attorney
LC: cityatt/Linda/Hurley Termination Agreement
September 10, 2008
TOM HURLEY,—PA IDENT
T
Exhibit Only — Do not execute
Termination Agreement — The Hurley Companies Tax Abatement
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