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Home My WebLink AboutResolution - 1769 - Request Approval - TEDC -Commerical Projects, Economically Depressed Areas - 07/16/1984MG:cl RESOLUTION 1769 - 7/16/84 RESOLUTION A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LUBBOCK, TEXAS MAKING FINDINGS AS TO A BLIGHTED OR ECONOMICALLY DEPRESSED AREAS OF THE CITY OF LUBBOCK; SUCH BLIGHTED OR ECONOMICALLY DEPRESSED AREAS DEFINED IN THE EXHIBIT ATTACHED HERETO; REQUESTING THE TEXAS ECONOMIC DEVELOPMENT COM- MISSION TO APPROVE COMMERCIAL PROJECTS WITHIN SUCH BLIGHTED OR ECONOMICALLY DEPRESSED AREAS; DESCRIBING THE TYPE OF PROJECT FOR COMMERCIAL USES DESIRED AND AUTHORIZED BY THE CITY OF LUBBOCK; REPRESENTING THAT THE CITY COUNCIL WILL REVIEW ALL PROJECT DESCRIPTIONS; CONTAINING THE CITY'S PROGRAM FOR PROPOSED PUBLIC IMPROVEMENT. WHEREAS, the City Council of the City of Lubbock gave due and proper notice of a public hearing pursuant to Art. 5190.6, as amended, V.T.C.S., also known as the Development Corporation Act of 1979 (the "Act") and the Regulations (the "Regulations"), of the Texas Economic Development Com- mission (the "Commission"), to be held on this date for the purpose of establishing a certain area of the City as a blighted or economically depressed area (the "Blighted or Economically Depressed Area") under and for the purposes of the Act and the Regulations; and WHEREAS, the City Council has found that notice was properly given and published as required by the Act and the Regulations, that the public hearing was held on this date in accordance with law, that the public was given the opportunity to be and was heard on the proposal submitted, and that the City Council has given due and proper regard to the testimony presented; and WHEREAS, the City Council has determined and hereby finds that the following conditions exist within the area designated in the Resolution as Blighted or Economically Depressed Areas within the City of Lubbock, to -wit: The area described in the Exhibit attached hereto is blighted or economically depressed in that they contain the presence of a substantial number of substandard, slum, deteriorated or deteriorating structures; or suffer from a high relative rate of unemployment; and WHEREAS, the City Council of the City of Lubbock considered the following factors in designating the Blighted or Economically Depressed Areas within the City: A. Population decline. B. Poverty - at least 17.3% of all individuals in the shaded census tracts are below poverty level. (see attachment) C. Median family income - 80% or less of the city-wide median family income. D. Unemployment - 120% or more of the city-wide average. E. Median value of homes - 80% or less of the city-wide median value. F. Median contract rent - 800 or less of the city-wide median contract rent. G. Vacant housing - vacancy rate of 120% or more than the city-wide average; and WHEREAS, the City Council of the City of Lubbock has determined that collectively, these above-mentioned factors contribute to the presence of a substantial number of substandard, slum, deteriorated or deteriorating structures in the Blighted or Economically Depressed Areas, and the City further finds and determines that such conditions substantially impair or arrest the sound growth of the City; constitute an economic or social liability and are a menace to the public health, safety or welfare in their present conditions and use; and WHEREAS, the City Council has further found that the designated Blighted or Economically Depressed Areas suffer a minimum of five out of the seven above-mentioned factors; and WHEREAS, the City Council has determined that the availability of financing of projects for commercial uses under the Act and the Regulations will assist the City in fulfilling its objectives of promoting commercial development, providing jobs for its unemployed population, and bettering the general welfare of the citizens of the City of Lubbock, and contribute significantly to the alleviation of the blighted and economically depressed conditions found to exist in the said Blighted or Economically Depressed Area established hereby; and WHEREAS, the construction of Interstate 27 from North Loop 289 to South Loop 289 is located within the Blighted or Economically Depressed Area, and the project cost of over 200 million dollars of which approxi- mately 75% will be for construction and approximately 251A for right-of-way acquisitions; and WHEREAS, right-of-way acquisition has begun with construction be- ginning in 1986 with an anticipated completion date of 1995; and WHEREAS, the designated Blighted or Economically Depressed Areas closely correspond to the City of Lubbock Community Development Block Grant Target Area and the Urban Development Action Grant area; and -2- WHEREAS, the Community Development Block Grant Target Area has numerous public projects designed to improve the housing stock and promote the development of public and community facilities. NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK: 1. THAT the determinations and findings recited and declared in the preambles to the Resolutions are hereby restated, repeated and incorporated herein as current, proper and lawful findings of the City Council of the City of Lubbock, Texas. 2. THAT the area of the City, conforming to the map attached hereto as an exhibit, which includes Census Tracts 2.01, 2.02, 39 6.02, 79 S, 109 11, 12.01, 12.02, 13, 24 and 25, but excluding that portion of Census Tract 6.02 bounded by Broadway Avenue on the North, Avenue Q on the East, 19th Street on the South, and Avenue U on the West, is hereby designated as a Blighted or Economically Depressed Area under and for the purposes of the Act and Regulations promulgated by the Commission. 3. THAT the City Council request the Commission to approve com- mercial projects for financing under the Act and the'Regulations within said Blighted or Economically Depressed Area, of the following types, to -wit: A. Major office complexes. B. Commercial facilities. C. Convention and related facilities; and D. Hotels and/or motels and related facilities. E. Commercial activities contributing to revitalization and provid- ing services to neighborhood residents located within and adjacent to said Blighted or Economically Depressed Area that will result in the improvement of the high relative ratio of unemployment existing therein by adding additional employment and jobs thereto. 4. THAT the City Council of the City of Lubbock represents that it will review all proposed descriptions for approval of specific projects for commercial uses and in order to determine whether such projects are consistent with the City's objectives for redevelopment and rehabilitation of the Blighted or Economically Depressed Area designated herein. -3- 5. THAT the current Lubbock Industrial Development Corporation established under City Resolution #444, will administer the Industrial Revenue Bonds program. Passed by the City Council this 16th day of July �aui ATTEST: - a u� City Secretary APPROVED AS TO CONTENT: Ji Be tram, Assistant City Manager APPR ED AS TO FORM: ./ '-7 es aii �. ich6lk Glisar, Assistant City Attorney -4- �.'...+w.m --+.n...-rte-+T+'-:»II f•iY'.v psm.eT .�...�...�ww�gq+e _ _ i1'.!i:.-�'•fr'^ _�.-„ '�F"+m..iru.-+as..-,w.,-_.e�ir,..p. ✓ ' Sy NTEAREAS .';LISISLE Bi.IGD mFOR"INDUSTRIAL REVENUE, BONDS, . 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