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Home My WebLink About1997-2271 - Ordinance - 10/23/1997ORDINANCE NO. 227 ') AN ORDINANCE DESIGNATING A CERTAIN AREA AS REINVESTMENT ZONE NUMBER FIVE (5) FOR COMMERCIAL TAX ABATEMENT AS PROVIDED IN THE PROPERTY REDEVELOPMENT AND TAX ABATEMENT ACT; ESTABLISHING THE NUMB~ OF YEARS FOR THE DISTRICT; AUTHORIZING A 1997 AGREE- MENT TO EXEMPT FROM TAXATION THE INCKEASE IN VALUE OF THE PROP- ERTY IN ORDER TO ENCOURAGE DEVELOPMENT AND REDEVELOPMENT AND OTHER MATTERS RELATING THERETO; PROVIDING A SAVINGS CLAUSE; FINDING AND DETERMINING THAT THE MEETING AT WHICH THIS ORDINANCE IS PASSED IS OPEN TO THE PUBLIC AS REQUIRED BY LAW. WHEREAS, the City Council of the City of College Station, Texas, (the "City") desires to encourage supervised improvement by property owners through tax abatement procedures within its jurisdiction by the creation of a reinvestment zone as authorized by the PROPERTY REDEVELOPIvIENT AND TAX ABATEMENT ACT, TEXAS TAX CODE, CHAPTER 312, as amended (the "Act"); and WHEREAS a public hearing was scheduled for October 23, 1997, at 7:00 p.m. to receive comments concerning the designation of proposed Reinvestment Zone Number Five (5). Notice of such hearing was published on Tuesday, October 14, 1997, in the Bryan-College Station Eagle newspaper, and on Friday, October 10, 1997, notice was mailed, first-class, postage pre-paid to the presiding officers of all taxing units within the jurisdiction of the proposed Reinvestment Zone, both such dates being not later than the seventh day before the date of the scheduled public hearing; and WHEREAS, the City called a public hearing and published notice of such public hearing as required by Section 312.201(d) of the Act; and has given written notice to all taxing units within the jurisdiction of the proposed Reinvestment 2 one Number Five (5) for Commercial Tax Abatement; and WHEREAS, at said public hearing the City presented evidence that such proposed designa- tion would be reasonably likely 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; and WHEREAS, the City at such public hearing invited any interested person or his attorney to appear and contend for or against the creation of the reinvestment zone; the boundaries of the proposed reinvestment zone, whether all or part of the territory that is described as in Exhibit "A", should be included in such proposed reinvestment zone, and the concept of tax abatement; and WHEREAS, at such hearing recommendations were given as to the number of years the district would be designated, the number of years in which an agreement would be available, as well as the percentage of tax exemption to be applied to the taxable real property that is redeveloped; and WHEREAS, the designation of the proposed reinvestment zone is consistent with the City's guidelines for such zones as set forth in the City's "Economic Development Policy and Incentives" document, first adopted by Council minme order on the 23rd day of January, 1991, and re-adopted by Council minute order on October 12, 1995, and on October 9, 1997, and will benefit the land included within the proposed reinvestment zone after the ys/o/group/tegab'proj¢ct~otcorl~'retnv~st, doc 10/25/97 Ordinance No. 2 2 71 Page 2 expiration of the written agreement with the proposed developer of the property within the remvestment zone; NOW, THEREFORE, BE IT ORDAINED BY THE CITY COLFNCIL OF THE CITY OF COLLEGE STATION: That the facts and recitations contained in the preamble of this ordinance are hereby found and declared to be true and correct and are incorporated herein for all purposes. II, That the City, at~er conducting such a hearing and ha,ting further studied recommendations, as well as the evidence presented at the public hearing, has made the following findings based on the evidence and the testimony presented to the City: (a) That the public hearing on the adoption of the reinvestment zone under the applicable provisions of the Act has been properly noticed, called, held, and conducted, and that the notice of such hearing has been published as required by law and has been mailed to the respec- tive taxing units within the proposed reinvestment zone; and (b) That the City has jurisdiction to hold mid conduct said public hearing on the creation of the proposed reinvestment zone pursuant to the Act; and (c) That creation of the proposed reinvestment zone with boundaries described within the subdivision will result in improvements, made after October 23, 1997, that are feasible and practical and will benefit the City, its residents and property owners in the reinvestment zone; and (d) That the proposed designation will be reasonably likely to contribute to the retention or expansion of primary employment or to attract major investments to the zone that would be a benefit to the property and to economic development of the Cir. y. III. That the City hereby creates Reinvestment Zone Number Five (5) and its boundaries are those described and depicted in Exhibit "A" and such reinvestment zone shall hereafter be identified as Reinvestment Zone Number Five (5) for Commercial Tax Abatement, City of College Station, Texas. IV. That the designation of Reinvestment Zone Number (5) for Commercial Tax Abatement shall expire five (5) years from the date of this ordinance, and will be renewed thereatter for another five (5) years, as permitted by the Act. Ja/o/groul~gal/project.v' otcorl~/remvest, doc 10/25/97 Ordinance No. 2271 Page 3 That, as provided in the Act, a written agreement with the owner of taxable re~ property located within the reinvestment zone shall be for a period of nine (9) years and that the taxable real property that is subject to the above-mentioned exemption from taxation shall be the total increase in value of the land and improvements over their value in 1997. In consideration for the owner making specified improvements to the property, a written agreement shall provide for an exemption from taxation of this total increase in value of the property over its value in 1997 in decreasing percentages as set forth in that agreement. The written agreement will require that all taxes be current at the time of execution of the agreement and be kept current to all taxing entities during the term of said agreement. That said designation of Reinvestment Zone Number Five (5) for Commercial Tax Abatement and the written agreement are in accordance with the City of College Station Policy for Tax Abatements and will be a benefit to the land that will be included within the reinvestment zone and to the City of College Station after expiration of the agreement with the owner of the property. That if any provision of this ordinance is held to be ir. valid or unconstitutional, the remain- der of such ordinance shall continue in full force and effect the same as if such invalid or unconstitutional provision had never been a part of it. That it is hereby found and determined that the meeting at which this ordinance is passed is open to the public as required by law and that public notice of the time, place, and purpose of said meeting was given as required. IX. This ordinance shall become effective and be in full force and effect from and after its passage and approval by the College Station City Council and duly attested by the Mayor and City Secretary. PASSED, ADOPTED and APPROVED this 23rd day of October, 1997. ATTEST: CONN,. HOOKS, City Secretary APPROVED: HANEY, MaycJr js/o/group/legal/proj~ct~/otcorp~/retnvest, doc 10/23/97 O. I. Corp. 2.50 Acre Tract 1997 Building Additions Robert Stevenson Survey, A-54 College Station, Brezos County, Texas Field notes of a 2.50 acre tract or parcel of land, lying and being situated in the Robert Stever.eon Survey, Abstract No. 54, College Station, Brazos County, Texas, and being part of the 11.29 acre - Phase I, University Industrial Center, according to the plat r~corded In Volume 45R. Pege 249, of th~ 13eed Records of Brazos County, Texas, and being more particularly described as follows: COMMENCING at the ½" iron rod set at the common corner between the beforementloned 11.29 acre tract and Graham Road - 60' right-of-way as shown on the Dedication Plat recorded In Volume 319, Page 817, of the Deed Records of Brazos County, Texas, said ½" iron rod also being in the northeast right-of- way line of FM Road No. 2154 (100' right-of-way), same being a curve concave to the southwest having a radius of 2915.00 feet; ~ THENCE N '45° 16' 56" E along the common line between the beforementioned 11.29 acre tract and Graham Road for a distance of 392.29 feet to a ½" iron rod set for the PLACE OF BEGINNING of this description; THENCE N 44° 41' 30" W parallel with and 7 feet northeast of the existing O. I. Corp. building for a distance of 397.24 feet to a ½" iron rod set in the common ilne betwe=n the beforementioned 11.29 acre tract and Lot 1, Block 14 - ';4.075 acres of Edelweiss Estates, Phase Five, according to the plat recorded in Volume 2537, Page 67, of the Official Records of Brazos County, Texas; THENCE N 45o 24' 00" E along the common line between the beforementioned 11.29 acre tract and Lot 1, Block 14, Edelweiss Estates, adjacent to a fence, for a distance of 274.00 feet to a ½" Iron rod set; THENCE S 44° 41' 30" E 396.68 feet to a ½" iron rod set in the northwest right-of-way line of Graham Road; THENCE S 45° 16' 56" W along the common line between the beforementioned 11.29 acre tract and Graham Road, for a distance of 274.00 · feet to the PLACE OF BEGINNING, containing 2.50 acres of land, more or less. Surveyed April 1997 S, M. I(Ih~, R.P.L.S. No. 2003 k# B7.02b:~olm~,2.50~, KI. ING ENGINEERING AND SURVEYING ~I~YAN 'FErXAS EXHIBIT A {{ !I! ,i Name oS Plat: Date Piled: Date oS Plat: Pile No: Un~varsity Industrial Center July 14, 1980 June 12, 1980 ~81991 EXHIBIT A