HomeMy WebLinkAboutResolution - 2009-R0096 - Order Public Hearing To Establish A Reinvestment Zone - 03/05/20090
Resolution No. 2009-ROO96
March 5, 2009
Item No. 5.8
RESOLUTION
WHEREAS, the City Council of the City of Lubbock hereby declares its intent to
ider the designation of a Reinvestment Zone within the City of Lubbock, which
vestment Zone is more fully described in the "Notice of Intent" attached hereto as
bit A and made a part hereof for all purposes; and
WHEREAS, the City Council of the City of Lubbock is authorized to establish a
vestment Zone by authority of Chapter 312 of the Tax Code; and
WHEREAS, 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 described in Exhibit
A (except school districts, which may not participate in Chapter 312 tax abatements) not
less than seven (7) days before a hearing on creation of a Reinvestment Zone; 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
10:00 A. M. on March 5, 2009 in the City Council Chambers of the City of Lubbock at
1625 13th Street, Lubbock, Texas, after proper notice is given in accordance with Chapter
312, Tax Code; NOW THEREFORE:
E IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
SECTION 1. THAT the City Council hereby orders that a public hearing be
conducted at 10:00 A. M. on March 5, 2009, at the City Council Chambers of the City of
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 the Notice of Intent attached hereto as Exhibit A 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 said Exhibit A 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 days prior to the date of the hearing in a newspaper of general circulation in
the City of Lubbock.
by the City Council on this 5th day of March , 20W
TOM MARTIN, MAYOR
TTEST:
a Garza, City Secretary
APPROVED AS TO CONTENT:
Lob Al n, ' City Manager
)evelopment Services
PROVED AS TO FORM:
inda L. Chamales,
conomic Development Attorney
city att/ Linda/ReinvestmeaZonelkes Hurley companies
ruary 17.2009
Exhibit "A" Resolution No. 2009-R0096
NOTICE OF INTENT
TO
DESIGNATE REINVESTMENT ZONE
WHEREAS, the City Council of the City of Lubbock hereby declares its intent to
consider the designation of a Reinvestment Zone within the City of Lubbock, which
Reinvestment Zone is more fully described in the property description described herein;
and
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 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 described below and
depicted on the map labeled A-1 (except school districts, which may not participate in
Chapter 312 tax abatements) not less than seven (7) days before a hearing on creation of a
Reinvestment Zone; 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
10:00 A. M. on March 23, 2009, in the City Council Chambers of the City of Lubbock at
1625 13'' Street, Lubbock, Texas.
The proposed Reinvestment Zone is to be located on the property located at 2902.
Municipal Drive, being further described as follows: Lubbock Industrial Park Lot 5, City
of Lubbock, Lubbock County, Texas.
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
S300,000 in improvements to an existing facility and $11 million in new machinery and
equipment. The estimated increased annual tax revenues from real and personal property
on this development will be approximately $241,392, inclusive of all taxing entities. A
tax abatement will be proposed for a portion of the increased value.
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