HomeMy WebLinkAboutResolution - 2013-R0192 - Amend Tax Abatement Agreement - Ozark Automotivve Distributors Inc. - 06/27/2013Resolution N0. 2013-RO192
June 27, 2013
Item No. 5.3
RESOLUTION
WHEREAS, the City Council has determined to give notice of its intent to amend a Tax
Abatement Agreement with Ozark Automotive Distributors, Inc.; and
WHEREAS, V.T.C.A. Tax Code Section 312.208 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 amendment 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 amend a Tax Abatement Agreement with Ozark Automotive Distributors, Inc.,
said notice to be given to the presiding officers of each governing body of each taxing unit
having jurisdiction in assessing taxes on 408 Yucca Lane, Lots 5 and 6, Lubbock Business Park
Addition to the City of Lubbock, Lubbock County, Texas.
Passed by the City Council on June 27 2013.
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GLYN C. ROBE TSON, MAYOR
ATTEST:
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Reb cca Garza, City Secr tar
APPROVED AS TO CONTENT:
Cheryl ffrock,
Executive Director of Budget
APPROVED AS TO FORM:
Linda L. Chamales,
Economic Development Attorney
EXHIBIT "A"
NOTICE OF INTENT OF THE CITY COUNCIL
OF THE CITY OF LUBBOCK TO AMEND AN
AGREEMENT TO ABATE TAXES ON REAL PROPERTY
IMPROVEMENTS AND TANGIBLE PROPERTY LOCATED AT 408 YUCCA
LANE WHICH IS LOTS 5 AND 6, LUBBOCK BUSINESS PARK ADDITION
TO THE CITY OF LUBBOCK, LUBBOCK COUNTY, TEXAS AND FURTHER
DESCRIBED IN THE ATTACHED EXHIBIT "A-1"
Notice is hereby given that the City Council of the City of Lubbock intends to
amend an Agreement with Ozark Automotive Distributors, Inc. to abate taxes on
improvements to real property and tangible personal property created by Ordinance No.
2008-R0087and 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 an amendment to the contract
between the City and Ozark Automotive Distributors, Inc. for tax abatement, a draft
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 consider this matter at its
meeting held in the City Council Chamber, City Hall, 1625 13`h Street, City of
Lubbock, on the 11`h day of July, 2013, at approximately 6:30 o'clock p.m.
EXHIBIT
STATE OF TEXAS §
COUNTY OF LUBBOCK §
AMENDMENT TO TAX ABATEMENT AGREEMENT
This Agreement is entered into by the CITY' OF UBBOCK (referred to herein
as "City"), a Home Rule Municipality of Lubbock County Texas and OZARK
AUTOMOTIVE DISTRIBUTORS, INC. (hereinafter called "Company")
WHEREAS, City and Company executed a Tax Abatement Agreement on March
13, 2008, granting a ten year declining scale tax abatement; and
WHEREAS, City desires to amend the terms of the Agreement by reducing the
number of years in the tax abate ent schedule- and
WHEREAS, Company desires to amend the terms of the Agreement by reducing
the number of jobs created,
NOW THEREFORE City and Company agree to the following amendments to
the Tax Aba ement Agreement
Section 1 en itled "Term" is replaced by the following section:
"SECTION 1. Term. This Agreement shall commence January 1 of the
tax year after the required improvements are substantially completed and
shall expire eight (8) years after said date."
Amendment to Ozark Tax Abatement Agreement
2. Section 9 entitled "Job Creation" is replaced by the following section:
"SECTION 9. Job Creation. Company agrees to create 185 new jobs in
Lubbock at the facility on the Property between March 13, 2008 and
August 1, 2013, and retain those jobs for the term of the tax abatement."
3. Section 11 entitled "Portion of Tax Abate d" is replaced by the following
section:
E
"SECTION 11. Portion of Tax Abated. City agrees, during the term of
this Agreement, to abate taxes on eligible prope4 according to the
following schedule:
Year 1: 100%
Year 2: 0%
Year 3: 80%
Year 4: 70%
Year 5: 600/(o i,
Year 6: 50%
Year 7: 40%
Year 8: iii jj► 30%"
Executed on
CITY OF LUBBOCK
BY:
GLEN C. ROBERTSON, MAYOR
2013.
OZARK AUTOMOTIVE
DISTRIBUTORS, INC.
BY:
ED RANDALL,
Director of Property Management
Amendment to Ozark Tax Abatement Agreement
Page 2
ATTEST:
Rebecca Garza, City Secretary
APPROVED AS TO CONTENT:
Cheryl Brock,
Executive Director of Budget
APPROVED AS TO FORM:
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(IIIIIIII, 111i,111 III 1jr
Linda Chamales, ,IIII����Il�e. '1161.
Economic Development Attorney
M cityatt/Linda/Amendment OzarkTaxAbatementAgreement
June 5, 2013 411 nlinlnfilk..
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Amendment to Ozark Tax Abatement Agreement
Page 3