HomeMy WebLinkAboutRES 890290RESOLUTION
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF GEORGE-
TOWN NOMINATING AN AREA AS AN ENTERPRISE ZONE, PURSUANT
TO THE TEXAS ENTERPRISE ZONE ACT ARTICLE 519 0.7,
V.A.CERTIFYING THAT THE AREA MEETS THE QUALIFICA-
TIONS OF THE ACT; AND DESIGNATING A LIAISON TO ADMINISTER
THE ENTERPRISE ZONE PROGRAMo
WHEREAS, the first goal of the long-range strategic plan
the City of Georgetown is to "encourage diversified growth a
promote business opportunities to create jobs, broaden the tax ba
and minimize the impact of economic fluctuation"; and,
WHEREAS, the Southern portion of the City, adjacent areas
the Extra-Territorial,jurisdiction, and certain residential are
s
i
in the City are economically distressed; and,
WHEREAS, the Texas Legislature has adopted and amended articl
5190.7, V.A.C.S., for the purpose of creating Enterprise Zon
within the State and promoting economic development; and,
WHEREASt the City of Georgetown fully qualifies for design
tion as an Enterprise Zone under the Enterprise Zone Program Rulels
NOW, THEREFORE, BE IT RESOLVED BY THE CITY OF GEORGETOWN,
TEXAS THAT:
Section 7. The area nominated above is designated as the
Georgetown Enterprise Zone, subject to the approval of the Texas
Department of Commerce.
Section 8* This Resolution will become effective when
adopted.
PASSED, APPROVED, AND ADOPTED at a regular Council meeting
on this the 25th day of July, 1989.
LAI
Tim Kennedy, moor
ATTEST:
etNa—W!-fl4gWhby,ityTecretary
.•a -••i1
Legal Description of the Area
to be Designated an Enterprise Zone
1
THENCE at the point where the two forks merge, Northwest 280 ft.
to the Park road;
THENCE following e park . i 0 Southwest to Business
THENCE South a • to RM 2338 (Williams
THENCE East along RM 2338 to
THENCE Southwesterly along the centerline of IH -35 to the North
Fork of the San Gabriel River;
THENCE Northwesterly along the North Fork to the middle Fork;
THENCE South along the Middle Fork of the San Gabriel River to the
Georgetown City limits line;
THENCE East along the City limits line, following the jagged line
which defines the Northern property line of Mrs. Floy Howe
(467/433);
THENCE South 1127 ft. to the Northwest boundary of River Hills
Section •
THENCE Northeast 946 ft. to the East property line of River H lls
Section Onet
THENCE South 890 ft. along the division between River Hills Section
One r Four,
THENCE 160 ft. to the first property bordering on the Frontage
Road,,,
THENCE following the rear property lines of those properties along
the Frontage Road, to the boundary between River Hills Section One
and Two, and Section One and Three, to the Southernmost boundary
of River- a •
THENCE South to SH 291
THENCE East along SH29, acrossto the Easternboundary t•
R.O.W.the of
SouthTHENCE a is to the PLACE • 1. ,..
Rd. r
The above description defines the Enterprise Zone, excluding the
following two sections:
FIRST
BEGINNING at a point on the Southwest corner of Clearview Estates
and CR 116;
THENCE East along the south boundary of Clearview Estates to the
Southeast corner of same;
THENCE North 3044 ft.along the Clearview Estates property Line;
THENCE West 1230 ft. along same property line to CR 116;
THENCE South 1410 ft. along CR 116 to the property of Samuel Fox
(720/285) ;
THENCE West along property segment line 760 ft. to West property
line;
THENCE Southeast 700 ft. to South property line of John Wahl
(820/311) ;
THENCE East 751 ft. along the Southernmost boundary of same
property to CR 116;
THENCE South along CR 116 890 ft. to the PLACE OF BEGINNING of this
section.
Enterprise Zone Resolution of 7/25/89, Appendix A, Page 2 of 3
i
SECOND
BEGINNING at a point on the Southwest corner of Rabbit Hollow
(Amended)
alongTHENCE East the Southern boundary of Rabbit a
to FM 1460;
THENCE North along FM 1460 870 ft. to the property line of Ben
Garcia •ii
THENCE Northeast 520 ft. ae • the property - of Ben Garcia to
the Eastern boundary of Crestview Baptist Church (930/401);
THENCE Northwest 710 ft. to the North boundary of Jimmy Owen's
propeTHENCE West rty
along • - Northern property lin- 465 ft. to FM
North1460 F*
THENCE r • FM 1460f: ft. to the property of •
i •
THENCE East along Property line of E. Ryden 465 ft. to the East
boundary of • Realty
THENCE North 459 ft. to the Georgetown City limits;
THENCE Westnorthwest along City limits to FM 1460;
THENCE North along the Western boundary of Horizon Commercial park
to Quail Drive;
THENCE West across FM 1460 to the Western Edge of FM 1460 R.O.W.;
THENCE South along FM 1460 115 ft. to the Northern boundary of the
property of - - Wilcox
THENCE West 405 ft. along the Northern boundary all the way to the
Western boundary of • • r*-
alongTHENCE South along the Western boundary of said property 755 ft.
to the Northern boundary of Fourteen SIxty J.V.;
THENCE West same property • 0 ft. to the Western boundary
of property of Ben G. Hartman to the PLACE
BEGINNING of - •
Enterprise Zone Resolution of 7/25/89, Appendix A, Page 3 of E
Capital Cost Number of Years
of Project that Abatement Will
be Granted
Business Start -Up
$1 $2 million 3 years
$2 $3.5 million 4 years
greater than $3.5 million 5 years
Business Expansion
$500,000 - $1 million 3 year
million 4 years
$1.5 million or greater 5 years
"Business expansion" ref ers to all businesses that have bee
operating continuously in the City of Georgetown or its ETJ for a
least one year at the time the incentive is requested. All othe
14usinesses will be considered start-ups. If granted, the tai
abatement will cover 100% of the increased value on real property
for the number of years listed above.
All tax revenue lost as a result of the agreement will be recap-
tured if the property owner fails to make improvements as provided
by the agreement. The City will inspect and determine that the
promised improvements have been made. if not, the property owner
will be liable for the abated taxes. Abatement will not be
retroactive for expansions or start-ups done prior to the date of
the Enterprise Zone designation.
Williamson county and the Georgetown Independent School District
support the creation of an Enterprise zone, and will execute their
own agreements regarding tax abatement, in accordance with 1987
amendments to the Property Redevelopment and Tax Abatement Act,
which states that county and school district agreements will
contain the same terms as the Cs agreement.
LOCAL SALES TAX REBATE [SeCol2] The City of Georgetown -may
refund the one percent local sales and use tax to qualified
businesses, employees, or persons in the proposed Enterprise Zone.
Refund may be partial or total, and will apply to taxable purchases
of machinery and equipment, leases, or rental which furthers the
purposes of economic development within the Zone. Those persons
or businesses entitled to a refund will pay the entire a -mount of
taxes at the time of purchase, and then request refund under the
terms of a written agreement. The agreement will be negotiated at
the time the City Council approves the rebate for the business or
individual, and will contain an expiration date. The beneficiar
will be required to provide documentation which supports his/he
claim to a tax refund. The City of Georgetown will grant th
refund directly to the beneficiary, according to the terms of thl
agreement.
WAIVER OF CAPITAL RECOVERY FEES AND DEFERRAL OF COMPLIANCE WIT
DEVELOPMENT SUBDIVISION REGULATIONS [Sections 13,14] The Cit
of Georgetown may waive capital recovery fees for those businesse
locating or expanding in the proposed Zone. It may also defe
compliance with subdivision and development ordinances an
regulations, other than those governing streets, roads, sewer, anj
water service. Request for waivers will be evaluated on the basi
of total capital investment and number and income level of job
retained and/or provided.
When businesses need to process permits, the new Director o
Economic Development and the City of Georgetown Planning Offic
will assign priority to businesses in the Enterprise Zone, and wil
assist in expediting the permit process. I
UTILITY SERVICE CONNECTIONS Utility connections may be availabl
to industries desiring to expand or locate in the Enterprise Zone
The provision of water and sewer extensions is contingent upon sit
location and individual necessityi The capital investment planne
by the business, and the number of jobs retained or offered, ar
the criteria that will be used to determine if the City wil
increase its level of services. The City may choose to 8ubsidiz
a part of the cost of infrastructure improvements, or all of th
cost. I
JOB TRAINING [Sec. 13] The City of Georgetown will give priority
to enterprises located within the Zone for receipt of urban
development action grant money, community development block grant
money, industrial revenue bonds, and funds received under the Texas
Job Training partnership Act [Art. 4413.52, V6T.C6St]. JTPA funds
can be used for workforce development: recruitment of low-income
and minority workers, and testing, evaluation, and training of
enterprise employees. Customized training can be offered on-site,
on -campus, or on-the-job. The City of Georgetown will facilitate
coordination of training with Texas State Technical Institute,
Austin Community College, Southwestern, South West Texas State
University, the University of Texas, or Temple Junior College,
depending on the particular needs of the individual business, and
whether the training is vocational or professional.
INDUSTRIAL ELECTRIC RATES [Sec. 14.9] The City of Georgetown MAN
charge reduced rates to large (over 5 million kilowatt hours p
year) customers. Rate reductions will be based on the size of t
businesses's load. In order to be eligible for rate reduotio
individual industries must also have a load management program
place which is satisfactory to the City.
City of Georgetown
Representative: Bob Hart
City Manager
City of Georgetown
609 Main Street
P.O. Bax 409
Georgetown, Texas 78627
Williamson •
countyRepresentative: Mr. Don Wils
••
County• •
• Austin Ave,
Georgetown,
Representative: Dr. Jim Gunn phone: 512-863-6595
Superintendent
603 Lakeway Drive
Georgetown, TX 78628
Representative;: Ms. Gwen Morrison phone: 512-863-4546
Executive Director
Georgetown Chamber of Commerce
100 Stadium Drive
P.O. Box 346
Georgetown, TX 78626
-s •- • • i •• • ss s
'PresidentRepresentative: William H. Connor
1107 Main St.
Georgetown, TX 78626
Georgetown Industrial Foundation
Marcus Pritchett
President
Operations Manager
GTE
1'# N. Austin Ave.
Box
Georgetown
phone: 512-863-8900
HME�M
Mike McMaster
Winfred Bonner
Ercel Brashear
Doak Fling
Barbara Pearce
Joe Saegert
Lorenzo "Shorty" Valdez
Rob Hart
city manager
City of Georgetown
609 Main Street
P.O. Box 409
Georgetown, Texas
Bruce Barton
Executive Director
Georgetown Industrial
100 Stadium Drive
P.O. is 346
Georgetown, TX 78626
0
•
No administrative authority will be created to manage the proposed
Zone. The person in charge of zone oversight and administration
of the Enterprise Zone will be Bruce Barton, Director of Economic
Development. He will act with the authority delegated to him by
the City Council through the City Manager, as stated in the
Resolution of July 25, 1989.
and with Oualified Businesses in the Enterprise Zone
The Director of Economic Development, designated as the Zone
administrator and liaison with the Texas Department of Commerce,
will coordinate his actions with all the participants in the Zone,
including the City of Georgetown, Williamson County, the Georgetown
Independent School District, the Georgetown Chamber of Commerce,
the Georgetown Industrial Foundation, and the Georgetown Industrial
Development Corporation.
The City of Georgetown's strategic plan stresses the mportance of
citizen participation in setting goals and making decisions. The
City Manager meets regularly with all of the above participants in
the Enterprise Zone, and in accordance with the strategic plan, the
Director of Economic Development and/or the city manager will use
these meetings to solicit the input of residents of the Zone,
business persons, and civic leaders. The City Manager will make
a special effort to notify zone residents of any action regarding
the Zone by means of the City Council meetings and city of
Georgetown newsletters.
When a business prospect expresses interest in locating or expand-
ing operations in the Enterprise Zone, the Director for Economic
Development will perform an analysis of the business's needs, and
determine what types of incentives would be appropriate. At this
time he, will also inf orm other participants in the Zone, and
solicit their input. The City of Georgetown will provide technical
and administrative assistance to businesses that require help in
the process of seeking designation as Enterprise Projects, in order
that those businesses may qualify for additional incentives. For
each business prospect, the City Manager will recommend an incen-
tives package (through the city Manager) to the Georgetown City
council6 The City Council retains authority for approving or
denying those incentives related to City taxes or City services.
Once approved, all incentives agreements will be made in writing,
and will specify the terms and conditions of the incentives
package, as well as the effective date for any tax abatements or
tax refunds.
•
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Prior to 1988, the City of Georgetown had a reputation as
growth" town, hostile to the location or expansion of businesses,
and jealously guarding the small-town atmosphere which makes
Georgetown such an attractive community in which to live. However,
in 1988, voters selected three former Chamber Of Commerce Presi,
dents to the City Council. These three members, combined with the
existing pro-business oriented council members, have introduced
major changes in Georgetown's economic development policy. On
March 8i 1988i the City Council adopted a long-range Century Plan,
which defines planning policy for the City of Georgetown until the
year 2010. The first goal of this plan is Economic Development.
since early 1988, the City Council has established an Economic
Advisory Board, hired a City Manager experienced in economic
development, and coordinated development efforts with other local
government entities, major industries located in Georgetown, and
community business leaders. Among the first successes of this new
alliance, on may 15, 1989, the city of Georgetown signed an
affiliation agreement with Corpus Christi designating Georgetown
as a sub -zone of Corpus ChristiOs Foreign Trade Zone.
The proposed Georgetown Enterprise Zone is a key factor in achiev-
ing the goals of Coorqetownis strategic plan. The primary objec-
tive of the Enterprise zone is expansion of the tax base. 8econ-
dary objectives are the creation of permanent jobs and economic
diversification which will minimize the impact of economic fluctua-
tion.
170
An underlying goal of all economic development ef forts is the
attainment of a self-sustaining economy. Presently, Georgetown's
economic base is very limited: 50% of all personal income comes
from jobs outside of Williamson County and from transfer payments
(e4g. social security). Georgetown needs to reduce the number of
employees it exports to surrounding labor markets, and assist in
the provision of new employment within the City.
Estimate of Economic 1mact of the Zone Estimates of economic
impact are based on growth trend indicators provided by CAPCO
(Capital Area Planning Council) , current businesses activity in
Georgetown, and inquiries from industrial prospects during the past
year. This forecast is, at best, a rough approximation of what
could be reasonably expected to occur during the next three years.
The City of Georgetown believes that these estimates are relatively
conservative.
Type of Enterprise Capital Investment
First Year mid-size start-up $2 - $3.5 million
Second Year small start-up $1 - $2 million
mid-size expansion $1 - $1.5 million
Third Year small start-up $1- $2 million
large start-up greater than $3.5 million
small expansion $500,000 - $1 million
TOTAL NUMBER OF PROJECTS: SIX
TOTAL CAPITAL INVESTMENT: $9 - $14 MILLION
The first year will be devoted to networking, identification of
potential prosp6ct8j marketing the Enterprise Zone, and putting
W
m
provided under the Georgetown Enterprise Zdhe Ptbgtam4 The City
would realize a total of $9-$14 'million in increased investment,
(up to $18 million when using the multiplier) , approximately 40
new jobs for residents of the Zonet $2,700 in increased sales tax
i$21,000 indevelopment
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BUSINESS INCENTIVES
An Enterprise Zone is more than regulatory relief and f inaftdial
incentives. While these factors are important for attracting new
businesses and encouraging expansion, the City of Georgetown
believes that industry prospects pay as much or more attention to
intangible benefits such as the sense of communityj willing
cooperation between government and bus iness, and an af f irmative
attitude regarding new or innovative methods for stimulating
economic development. Therefore the Georgetown Enterprise Program
attempts to provide both tangible incentives and a positive "pro-
growth" • aimed at establishing and maintaining a good
working relationship with business and industry.
State Incentives
TAX REFUNDS [Texas Enterprise Zone Act, Art. 5150.7, sec. 17]
Enterprise projects and qualified businesses may be eligible for
sales and use tax refunds, refund of franchise tax, and reduction
of taxable capital in franchise tax reports.
PRIORITY STATUS: FOR 8TATE-ADMINISTERED PROGRAMS AND FUNDS [Sec.
18] A state acfencv administering loans or grants will give
preference to the City of Georgetown or a qualified business
located in the Enterprise zone
1) at least fifty percent of the grant or loan will
be expended for the direct benefit of the Enterprise
Zone;
2) the purpose of the loan or grant is to promote
economic development in the community, or construct,
improve, extend, repair, or maintain public
facilities within the •
STATE TREASURY DEPOSITS A006tdihq to Section 18(8) Of the Enter-
prise Zone Act, the state treasurer is encouraged to deposit state
money in financial institutions doing business in enterprise zones 4
State agencies are also authorized to contract with businesses
located in • zohe84
The LCRA, in conjunction with City of Georgetown electric utili
customers, will offer a wide range of services to existing and n
4usinesses within the proposed Enterprise Zone4
M
MARKET STUDIES The LCRA can aid in
studies and forecasts for products
locating or expanding within the Zoneg
the development of markel
nufactured by businesselff
ELECTRIC POWER AND DESIGN ASSISTANCE The LCRA can provide powe
distribution and layouts to meet the National Electrical code a
the guidelines of the Occupational Safety and Health Adminiztra
tion. In addition, they can also offer energy conservatio
recommendations on lighting, heating, refrigeration, air conditio
ing, and ventilation systems to help lower the cost of operationig
ENGINEERING AND FACILITIES PLANNING Businesses planning capital
construction in the proposed Zone may obtain cost estimates for
infrastructure, site development, and building construction or
modernization, And conceptual site plan designs for business
location and flood plain identification.
These incentives are available only to those businesses located
within the designated zone. The Director of Economic Development
will perform a case-by-case analysis of each enterprise which
desires to take advantage of the incentives, and will coordinate
negotiation of an incentives package with the City and other taxing
entities. Once the participants agree on the package to be offered,
the City Manager will submit the incentives package to the city
Council. The City Council will make the final decision reqatdinq
approval of incentives. In making their decision, the City Council
will follow uniform evaluation procedures, and apply the same
criteria to all enterpriso84
TAX ABATEMENT [Sec. 11, as amended by Acts 1989, 70th Legislaturej
and Ch. 312, Tax Code] A tax abatement policy for all taxing
entities affected by the Enterpti8o Zone (i.e. the Citv of George-
town, Williamson County, and the Georgetown Independent School
District) will be established on a formula basis. Tax abatement
benefits will be available to industrial, manufacturing, distribu-
tion, 'wholesaling, and service industries which locate or expand
w *thin the Enterp ise Zone. Every effort will be made to ensure
that the tax abatement policy does not encourage competition within
the same product area4 Retail businesses will hot qualify for teal
property tax abatement.
Tax abatement will be limited to the increase in the taxable Value
of teal property over the property's value in the year the abate-
ment agreement is made. Changes in appraised value do not qualify
for abatement except where a previously vacant facility is util-
izedi In order to qualify for abatemento value added to the tax
roles must arise from actual capital expenditures.
0
The City Of Ceorqetdwn1s primary objective in granting ta
abatements is to strengthen And expand the tax base. Theref are ta
al
a
abatement will be granted primarily according to the amount o
capital investment made. Howeverf the City of Georgetown will als
consider the number of jobs retained and provided when determinin
the amount of tax to be abated. when requesting tax abatement
the owner of real property must, prior to the inception of th
ffiroject, agree to expend a specified sum of money, and provide
statement of jobs retained and/or provided, and the income leve
of those jobs. I
Tax abatements may be awarded as follows:
Capital Cost Number of Years
of Project that Abatement Will
be Granted
Business Start -Up
$1 - $2 million 3 years
$2 - $3.5 million 4 years
greater than $3.5 million 5 years
Business Expansion
$500,000 - $1 million 3 year
$1 - $1.5 million 4 years
$1.5 million or greater 5 years
"Business expansion" refers to all businesses that have bee
operating continuously in the City of Georgetown or its ETa for a
least one year at the time the incentive is requested. All othel
F#usinesses will be considered start-ups. If granted, the ta
abatement will cover 100% of the increased value on real property
for the number of years listed above. I
All tax revenue lost as a result of the agreement will be recap-
tured if the property owner fails to make improvements as provided
by the agreement. The City will inspect and determine that the
promised improvements have been made* If not, the property owner
will be liable for the abated taxes. Abatement will not be
retroactive for expansions or start-ups done prior to the date of
the Enterprise Zone designation.
Williamson County and the Georgetown independent School District
support the creation of an Enterprise zone, and will execute their
own agreements regarding tax abatement, in accordance with 1987
amendments to the Property Redevelopment and Tax Abatement Act,
which states that county and school district agreements will
contain the same terms as the City's agreement4
LOCAL SALES TAX REBATE [Sec. 12 ] The City of Georgetow a
cefund the one percent local sales and use tax to qualifie
M
businesse8i emp1by6esi or persons in the proposed Enterprise Zdhe4
Refund may be partial or total, and wil I apply to taxable purchases
of machinery and equipment, leases, or rental which furthers the
purposes of economic development within the Zone. Those persons
or businesses entitled to a refund will pay the entire amount of
taxes at the time of purchase, and then request refund under the
terms of a written agreement. The agreement will be negotiated at
the time the City Council approves the rebate for the business or
individual, and will contain an expiration date. The beneficiary
will be required to provide documentation which supports his/her
claim to a tax refund. The City of Georgetown will grant the
refund directly to the beneficiary, according to the terms of the
agreement.
IE
depending on the particular needs of the individual busiftegsi and
whether the training is vocational or professional.
INDUSTRIAL ELECTRIC RATES [8ec. 14.9] The city of Georgetown may
charge reduced rates to large (over 5 million kilowatt hours per
year) customers. Rate reductions will be based on the size of the
businesses's load. In order to be eligible for rate reduction,
individual industries must also have a load management program in
place which is satisfactoryto the
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0
ENTERPRISE PROJECT FINANCING Although the City of Georgetown does
not have any direct lending programst the Director of Economic
Development will provide assistance in identifying sources of debt
finandina and Dreparing applications4 Businesses may qualify for
loans or grant�s under several different proarams4 For example,
financing is available through the Uii. SBA 504 Certified
Development Company Program, SBA 7(a) Guaranteed Loan Program,
Farmers Home Administration (FMHA) Business and Industry (B&I) Loan
Program, or the Texas capital Fund Community Development Block
Grant (CDBG) Program. Terms and conditions for each of these
programs vary, and funds are not always available.
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QualifVift4 Criteria or Designation
Enterprise Zone
According Zone Program Rules, applicant
meet eligibility criteria which demonstrate that the proposed zone
is an area with pervasive poverty, unemployment, and economic
distress. Definitions of qualifying criteria, as listed below, are
quoted from the Enterprise Zone Program Rules, 10 TAC 126, provided
by the
According to the specified criteria, and as documented below, the
proposed area qualifies for designation as an Enterprise Zone.
1i The average rate of Unemployment for the area nominated durin
most month period •which data is available fr
-V-he TeXas Employment ! r mri ! must be at leastone and one -ha
Unitedtimes the local, state, or national average for that period,
Average uneMployLment
(June 8 9
SUPPORTING O
Figures on unemployment averages are from the Texas Employmen
Commission. For the proposed Zone area, average unemployment i
calculated from of census areas tha
contain the proposed zone, and is an average of 12 monthl,
estimates made from June 188 " May 189. 1
Number- • • -• •er in labor force 551/6,870 00
m
Persons in
Number of Persons
Labor Force
Unemployed
ED
612D
1,486
92
ED
616
122
0
ED
618
86
18
ED
619A
309
0
CT
214,
BG
1
436
21
CT
214,
BG
2
322
28
CT
214,
BG
3
407
0
CT
214,
BG
4
1,183
14.1
CT
214,
BG
5
1,123
113
CT
214,
BG
6
637
58
CT
214,
BG
7
658
80
CT
214
BG
8
101
0
TOTAL
6,870
551
Number- • • -• •er in labor force 551/6,870 00
m
9 4 Tax arkearaqes for the entire jUrisdictioh must be At least 15% *
Total delinquent city of Georgetown taxes $ 256,484o2O
Total 1988 City of Georgetown tax levy $1j653t546401
SUPPORTINGDOCUMENTATION:
All figures for delinquent taxes and tax levies are as of June 1
1989, the most recent date for which data are available. T11
computer printouts from which tax data were compiled are on fil
w City Of Georgetown. Figures include real and persona
property. Tax levy = net taxable value x tax rate. Tota
delinquent City of Georgetown taxes ($256,484.20) is a sum of 198
delinquent taxes ($153,602.52) and pre -1988 delinquent taxe
i •
3-. Commercial or res idettial tax arrearages within the propose
zone must be at least 25% higher than tax arrearages for t
Jurisdiction as a whole.
CitV Of a # 6 a
Delinquent on • ` and
commercial property # is
,7764581988 city of Georgetown levy on residential
and commercial ptopertyfor City $11256,351.82
city delinquent taxes/levy = r
Proposed Enterprise Zone
Delinquent taxes on residential and
commercial property in Zone $ 45t288.71
1988 City of Georgetown levy on residential
and commercial property in Zone $181j094iO4
zone arrearage/whole City arrearage — 25.02/11.48 = 2.18
DELINQUENT +r PROPOSED ZONEARE a
ARREARAGES FOR THE WHOLE
No
SUPPORTING
DOCUMENTATION.-
All figures for delinquent taxes and tax levies are As of June ij
1989, the most recent date for which data are available. The
computer printouts from which tax data were compiled are on file
with the City of Georgetown. The proposed Enterprise Zone includes
929 parcels inside City of Georgetown limits, and 35 parcels
outside but -• • r Because parcels
within City limits represent 56% of the total number of parcels,
and by prior agreement with the Texas Department of Commerce, the
delinquent tax and 1988 levy• - defined - - -
includeactually include only those parcels within City limitsi Figures
real property only. - net . •
Total delinquent City of - a • - rwn taxes on residential - t
commercial property ($148,118o58) is a sum of 1988 delinquent taxe I
• • - • e • • r - # • •
delinquent
on - •- and commercial
($55,260.71).
Total delinquent City of -r r. •wn taxes on - dential an
commercialproperty • the Zone Only t of 198
delinquent taxes on - and commercial property #.
and pre -1988 delinquent taxes on residential and commercia
*rope($21j072.54)4
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