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HomeMy WebLinkAboutORD 2005-80 - Reinvestment ZoneAn Ordinance Designating a Contiguous Geographic Area Within the City of Georgetown Generally Described as Lot 1, Block 1 of the Park Central Subdivision Consisting of Approximately 7.09 Acres and Located in Georgetown, Williamson County, Texas, Recorded In Cabinet "J", Slide 181 of the Plat Records of Williamson County, Texas, as a Reinvestment Zone for Property Tax Abatement Purposes Pursuant to Chapter 312 of the Texas Tax Code; Containing Findings and Provisions Related to the Foregoing Subject, Providing a Severability Clause; and Providing an Effective Date. WHEREAS, the City Council of the City of Georgetown, Texas (the "City") has determined that the creation of a reinvestment zone by the City, as authorized by the Property Redevelopment and Tax Abatement Act, Chapter 312 of the Texas Tax Code, Vernon's Texas Codes Annotated (the "Act") within the area of the City as described in Exhibit "A" attached hereto (the "Zone"), is in the best interests of the City in accordance with Article VIII, Section 1-g of the Texas Constitution as the area is predominantly open, underdeveloped and, because of obsolete platting, substantially impairs the sound growth of the City; and WHEREAS, on April 26, 2005 by Resolution No. 042605-Q the City Council of the City of Georgetown approved a resolution stating that the City elects to become eligible to participate in a tax abatement pursuant to the Act; and WHEREAS, on June 14, 2005 the City Council approved the guidelines and criteria governing tax abatement agreements ("Principles for Economic Development Incentives") by the City which shall provide for the availability of tax abatement for both new facilities and structures and for the expansion or modernization of existing facilities and structures and which shall be effective for two years from the date adopted, as required by Section 312.002(a) and (c) of the Texas Tax Code; and WHEREAS, the City, on September 28, 2005, published notice of a public hearing on the creation of the Zone in the Williamson County Sun, a newspaper of general circulation in the City, and by letter dated September 26, 2005, provided written notice of the public hearing to the presiding officer of the governing body of each taxing unit that includes the property in the Zone, and such hearing was held on October 11, 2005, in compliance with the requirements of Section 312.201 of the Texas Tax Code; and Ordinance No. 011VLf 40 Turnco Reinvestment Zone Creation Page 1 of 6 WHEREAS, at the public hearing on October 11, 2005 interested persons were allowed to speak for or against the designation of the Zone; and WHEREAS, evidence was received and presented at the public hearing in favor of the creation of the proposed Zone and its boundaries under the provisions of Chapter 312, Texas Tax Code; and WHEREAS, no owner of real property in the proposed zone protested the inclusion of his property in the proposed Zone; and WHEREAS, the City has provided all information, and made all presentations, given all notices and done all other things required by Chapter 312, Texas Tax Code, or other law as a condition to the creation of the proposed Zone; and WHEREAS, the City has not previously created any reinvestment zones on the subject Property. NOW THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF GEORGETOWN, TEXAS: Section 1. Findings. a) The City Council finds that the facts and recitations contained in the preamble of this Ordinance are hereby found and declared to be true and correct and are adopted as part of this Ordinance for all purposes. b) The City Council further finds and declares that the proposed improvements in the Zone will significantly enhance the value of all the taxable real property in the proposed zone and will be of general benefit to the City after the expiration of any after the expiration of an agreement entered into under Section 312.204 of the Texas Tax Code. c) The City Council further finds and declares that the proposed reinvestment Zone meets the criteria and requirements of Section 312.202 of the Texas Tax Code because the area is reasonably likely as a result of the designation to contribute to the retention or expansion of primary employment or to attract major investment in the zone that would be a benefit to the property and that would contribute to the economic development of the City. Ordinance No. aQQ,,'j "n Turnco Tools Reinvestment Zone Creation Page 2 of 6 d) The City Council further finds and declares that the creation of the Zone is in conformance with the following Policy Statements in the City's Century Plan: 1.0 The community enjoys the benefits of well-planned land use in which conflicting needs are balanced. 9.0 Citizens and commercial goods move safely and efficiently throughout all parts of the City. 10.0 Georgetown's citizens and businesses enjoy an attractive community with a unique sense of place and a positive, identifiable image, at a cost which is consistent with other city social and economic priorities. 13.0 All municipal operations are conducted in an efficient business -like manner and sufficient financial resources for both current and future needs are provided. 15.0 The City manages its resources in a sound and fiscally conservative manner. Section 2. Designation of the Zone. That the City, acting under the provisions of Chapter 312, Texas Tax Code, including Section 312.201 does hereby designate as a reinvestment zone, and create and designate a reinvestment zone over, the area described on Exhibit "A" to promote the redevelopment of the area. Exhibit "A" is incorporated herein by reference for all purposes as if set forth in full. The reinvestment zone shall hereafter be named for identification purposes as the Reinvestment Zone No. 2005-01 (the "Zone"). Section 3. Duration of the Zone. That the Zone shall take effect immediately upon the passage and approval of this Ordinance, and termination of the operation of the Zone shall occur on the date that is five (5) years after the date of its designation, except that it may be renewed for periods not to exceed five years, and the expiration of the designation does not affect an existing tax abatement agreement made under the Property Redevelopment and Tax Abatement Act, pursuant to Section 312.203 of the Texas Tax Code. Section 4. Economic Development. The City Council hereby finds that the creation of the Zone constitutes a program to promote local economic development and to stimulate business and commercial activity in the City. Ordinance No.M57� Turnco Tools Reinvestment Zone Creation Page 3 of 6 Section 5. Severability. If any provision, section, subsection, sentence, clause or phrase of this Ordinance, or the application of same to any person to set circumstances, is for any reason held to be unconstitutional, void or invalid, the validity of the remaining provisions of this Ordinance or their application to other persons or set of circumstances shall not be affected thereby, it being the intent of the City Council in adopting this Ordinance that no portion hereof or regulations connected herein shall become inoperative or fail by reason of any unconstitutionality, voidness or invalidity of any portion hereof, and all provisions of this Ordinance are declared severable for that purpose. Section 6. Regular Open Meeting. It is hereby found, determined and declared that a sufficient written notice of the date, hour, place and subject of the regular meeting of the City Council at which this Ordinance was adopted was posted at a place convenient and readily accessible at all times to the general public at the City Hall of the City for the time required by law preceding its meeting, as required by the Open Meetings Law, Texas Government Code, Ch. 551, and that this meeting has been open to the public as required by law at all times during which this Ordinance and the subject matter hereof has been discussed, considered and formally acted upon. The City Council further ratifies, approves and confirms such written notice and the contents and posting thereof. Section 7. Effective Date. This Ordinance shall become effective immediately upon its final passage. READ, CONSIDERED, PASSED AND APPROVED ON FIRST READING by the City Council of Georgetown at a regular meeting on the day of2i 2005, at which a quorum was present and for which due notice was given pursuant to Section 551.001, et. seq. of the Government Code, READ, CONSIDERED, PASSED AND APPROVED ON SECOND AND FINAL READING by the City Council of Georgetown at a regular meeting on the 17cZ day of an, 2005, at which a quorum was present and for which due notice was given pursuant to Section 551.001, et. seq. of the Government Code. PASSED AND APPROVED on the day of Xe pe , 2005. Ordinance No. C; 490#TAO Turnco Tools Reinvestment Zone Creation Page 4 of 6 City of Georgetown, Texas ATTEST: Sandra Lee City Secretary (CITY SEAL) APPROVED AS TO FORM: By: 245Y�f qr Patricia Carls City Attorney Ordinance No. SAILM Turnco Tools Reinvestment Zone Creation Page 5 of 6 EXHIBIT "A" Property Description Being all of Lot 1, Block 1, of the PARK CENTRAL SUBDIVISION located in the City of Georgetown, Williamson County Texas, said plat being recorded in the Plat Records of Williamson County in Cabinet J, Slide 181, consisting of approximately 7.09 acres. WCAD Parcel Number: R317362 Full WCAD Parcel Number: R-20-8918-0000-1001 Ordinance No.X.5. nM -;7 E ib;i u'A Turnco Reinvestment Zone Creation Page 6 of 6