HomeMy WebLinkAboutResolution - 2016-R0341 - Order Public Hearing For Proposed Monsanto Reinvestment Zone - 09/22/2016Resolution No.2016-R0341
Item No.7.11
September 22, 2016
RESOLUTION
WHEREAS,the City Council of the City of Lubbock is authorized to establish a
Reinvestment Zone by authority of Chapter 312 of the Tax Code; and
WHEREAS,the Chapter 312 of the Tax Code requires a Notice of Intent to be sent to
the governing body of each tax unit that levies real property taxes on the property
associated with the Notice of Intent not less than seven (7) days before a hearing on
creation of a Reinvestment Zone,excluding school districts, which may not participate
in tax abatements under Chapter 312 of the Tax Code; and
WHEREAS,the City Council of the City of Lubbock wishes to consider the designation
of a Reinvestment Zone within the City of Lubbock through a Notice of Intent; and
WHEREAS,the City Council of the City of Lubbock does hereby authorize a public
hearing to be conducted upon the establishment of said Reinvestment Zone at 5:30 P.M.
on October 13. 2016 in the City Council Chambersof the City of Lubbockat 1625 13th
Street.Lubbock.Texas,after proper notice is given in accordance with Chapter 312 of
the Tax Code;NOW THEREFORE:
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
SECTION 1.THAT the City Council herebyorders that a public hearing be conducted
at 5:30 P.M. on October 13,2016, at the City Council Chambersof the Cityof Lubbock
at 1625 13th Street,Lubbock.Texas,pertaining to the proposal of the City Council to
establish a Reinvestment Zone as indicated on the Notice of Intent attached hereto as
Exhibit A.
SECTION 2. THAT a Notice of Intent be delivered by the City Manager or his
designee to the governing body of each taxing unit levying real property taxes on the
property described in Exhibit B not less than seven (7) days prior to the date of the
public hearing.
SECTION 3. THAT the City Manager,or his designee,cause publication of notice of
the public hearing on this proposed designation of a Reinvestment Zone not less than
seven (7) days prior to the date of the hearing in a newspaper of general circulation in
the City of Lubbock.
Passed by the City Council on this 22ndday of September , 2016.
DANIEL M.PO
ATTEST:
Rebe ca Garza, City Secr r
APPROVED AS TO CONTENT:
Ckc &zao
Cheryl drock, Executive Director of Budget
APPROVED AS TO FORM:
Justin ru tt, Ass' tant City Attorney
ccdocs/RES. Reinvestment Zone — Monsanto — Notice of Intent & Property Description
September 7, 2016
EXHIBIT A
NOTICE OF INTENT TO DESIGNATE REINVESTMENT ZONE
WHEREAS, the City Council of the City of Lubbock is authorized to establish a
Reinvestment Zone by authority of Chapter 312 of the Tax Code; and
WHEREAS, Chapter 312 of the Tax Code requires a Notice of Intent to be sent to the
governing body of each tax unit that levies real property taxes on the property depicted
on the map and property description attached to this Notice of Intent and labeled Exhibit
B not less than seven (7) days before a hearing on creation of a Reinvestment Zone, with
the exception of school districts, which may not participate in Chapter 312 tax
abatements; and
WHEREAS, the City Council of the City of Lubbock has hereby authorized a public
hearing to be conducted upon the establishment of said Reinvestment Zone at 5:30 P. M.
on October 13, 2016, in the City Council Chambers of the City of Lubbock at 1625 13th
Street, Lubbock, Texas; NOW THEREFORE,
THE CITY COUNCIL OF THE CITY OF LUBBOCK HEREBY DECLARES:
THAT it intends to consider the designation of a Reinvestment Zone within the City of
Lubbock, which Reinvestment Zone is more fully described in the property description
attached as Exhibit B; and
THAT the proposed Reinvestment Zone is to be located on the property is described in
Exhibit B; and
THAT notice is further given that the tentative plans for development and the estimate of
the general impact of the proposed zone on property tax revenue are as follows:
The development plan is to be implemented by the investment of
approximately $56,500,000 for construction of a new facility and
$43,500,000 in new machinery and equipment. The estimated increased
annual tax revenues from real and personal property on this development
will be approximately $2.3 million, inclusive of all taxing entities. A tax
abatement will be proposed for a portion of the increased value.
ccdocs/RES. Reinvestment Zone — Monsanto — Notice of Intent
September 7, 2016
EXHIBIT B — Monsanto Property Description
METES AND BOUNDS DESCRIPTION of a 150.00 acre tract of land located in Section 39,
Block D, L&SV Railroad Company Survey, Abstract 6, Lubbock County, Texas, being the East
150.00 acres of that same land described as Tract 1 in deed recorded in County Clerk File Number
2007048830, Official Property Records of Lubbock County, Texas, being further described as
follows:
BEGINNING at a 1/2" iron rod and cap marked "HUGO REED ASSOC" set in the North line of
said Section 39 for the Northwest corner of this tract, which bears S. 88°28'45" E. a distance of
1644.47 feet from a 1/2" iron rod found at the Northwest corner of said Section 39;
THENCE S. 88028'45" E., along the North line of said Section 39, a distance of 2441.55 feet to a
railroad spike found in the West right-of-way line of Interstate Highway 27 at the Northeast corner of
this tract;
THENCE S. 01 °22' 14" E., along the West right-of-way line of said I-27, at 50.14 feet pass a 1/2"
iron rod with cap marked "STEVENS RPLS 4339" found in reference, continuing for a total distance
of 998.02 feet to a 1/2" iron rod with cap marked "HUGO REED ASSOC" set for a corner of this
tract;
THENCE S. 02047'29" W., continuing along said right-of-way line a distance of 651.95 feet to a
1/2" iron rod with cap marked "HUGO REED ASSOC" set for a corner of this tract;
THENCE Southeasterly, continuing along said right-of-way line, along a curve to the left, said curve
having a radius of 3994.83 feet, a central angle of 13030'18", a chord bearing of S. 0305738" E., a
chord distance of 939.44 feet to a 1/2" iron rod with cap marked "STEVENS RPLS 4339" found at a
corner of this tract;
THENCE S.10043' 14" E., continuing along said right-of-way line a distance of 47.32 feet to a 1/2"
iron rod with cap marked "RL SMITH RPLS 3906" found in the South line of the North half of said
Section 39 at the Southeast corner of this tract;
THENCE N. 88036'34" W., along the South line of said North Half, a distance of 2568.08 feet to a
1/2" iron rod with cap marked "HUGO REED & ASSOC" set for the Southwest corner of this tract;
THENCE N. 01 ° 19'20" E. a distance of 2635.78 feet to the Point of Beginning.
ccdocs/RES. Reinvestment Zone — Monsanto — Exhibit B - Property Description
September 7, 2016
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