HomeMy WebLinkAboutResolution - 2005-R0075 - Tax Abatement Agreement - PYCO Industries - 02/24/2005Resolution No. 200540075
February 24, 2005
Item 23
RESOLUTION
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
THAT the City Secretary shall give notice to the presiding officers of each
governing body of each taxing unit having jurisdiction in assessing taxes on property
located at 50th and Guava and 2901 Avenue A in the City of Lubbock, Lubbock County,
Texas of the intent of the City of Lubbock to enter an amendment to the Tax Abatement
Agreement with PYCO Industries; and
THAT the Mayor of the City of Lubbock BE and is hereby authorized and
directed to execute for and on behalf of the City of Lubbock an Amendment to the Tax
Abatement Agreement with PYCO Industries, formerly known as Plains Cooperative Oil
Mill, Inc., and all related documents, seven days after the Notice attached hereto as
"Exhibit A has been delivered by the City Secretary. Said Amendment and Notice are
attached hereto and incorporated in this Resolution as if fully set forth herein and the
Amendment shall be included in the Notice and in the Minutes of the Council.
Passed by the City Council this 24th day of Fe]fuary / , 2005.
MAYOR
ATTEST:
Rebecca Garza, City Secretary
APPRO D ASS TO NTENT:
" -, � -- �) /�,, �L , , -, -
Rob A i ect 9f
Busin ss Development
APPROVED AS TO FORM:
Linda L. Chamales, Senior Attorney
Office Practice Section
LC: cityatt / Linda / Res-PYCO Amend
February 10, 2005
Resolution No. 2005-R0075
EXHIBIT"A"
NOTICE OF INTENT OF THE CITY COUNCIL
OF THE CITY OF LUBBOCK TO EXECUTE AN
AMENDMENT TO AN AGREEMENT TO ABATE TAXES ON REAL PROPERTY
IMPROVEMENTS LOCATED AT 50TH AND GUAVA AND 2901 AVENUE A IN THE
CITY OF LUBBOCK, LUBBOCK COUNTY, TEXAS
Notice is hereby given that the City Council of the City of Lubbock intends to execute
an amendment to an Agreement with PYCO Industries, Inc., formerly known as Plains
Cooperative Oil Mill, dated on the 28th day of March 1996, to abate taxes on improvements to
property located within an enterprise zone created by Ordinance No. 9591 and covering all of
the subject property.
Notice is further given that the City Council of the City of Lubbock has authorized the
Mayor of the City to execute the amendment to the contract between the City and PYCO
Industries, Inc. for tax abatement, a copy of said amendment 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 execute this amendment seven days
after the notice has been delivered by the City Secretary to the presiding officers of each
governing body of each taxing unit having jurisdiction in assessing taxes on property located at
50th and Guava and 2901 Avenue A.
Notice of Intent-PYCO
STATE OF TEXAS §
KNOW ALL MEN BY THESE PRESENTS:
COUNTY OF LUBBOCK §
AMENDMENT TO 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 PYCO
INDUSTRIES, formerly known as PLAINS COOPERATIVE OIL MILL, INC.
(referred to herein as "Company").
WITNESSETH:
WHEREAS, City and Company executed a Tax Abatement Agreement on the
28th day of March, 1996, in which Company agreed to expend funds in accordance with
the Guidelines and Criteria Governing Tax Abatement for all taxing units contained
within Lubbock County. Company agreed to expand an existing manufacturing facility
and build a new manufacturing facility in exchange for the City's agreement to abate real
property taxes during the term of the Agreement to the extent the value for any given year
exceeded the base year value; and
WHEREAS, City and Company desire to amend said Agreement at this time;
NOW THEREFORE, City and Company agree as follows:
SECTION 10 entitled "Creation of New Jobs," is hereby deleted in its entirety
and replaced by a new SECTION 10 entitled Electricity Provider" which shall read as
follows:
"SECTION 10. Electricily Provider. Company agrees to utilize Lubbock Power
& Light (LP&L) for electrical services for the remainder of the term of the tax
abatement, so long as LP&L's rates are competitive on a state-wide basis."
Executed this 18th day of March , 2005.
CITY OF
PYCO INDUSTRIES
BY: W =X I BY: �
MARC McDOTAGAL, MAYOR
Title:
ATTEST: Date:
Q dg�� ,-
Reb cca Garza, City Secretary
APPROVED AS TO CONTENT:
h
v
Rob Al ' n, 4�_
11
Business Development
APPROVED AS TO FORM:
Linda Chamales, Senior Attorney
Office Practice
LaCityatt/Linda/Plains Tax Abate Amendment
February 10, 2005
Amendment to PYCO Industries
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