HomeMy WebLinkAbout1997-2233 - Ordinance - 02/13/1997ORDINANCE NO. 2233
AN ORDINANCE REPEALING ORDINANCE NO. 2152 THAT DESIGNATED A
CERTAIN AREA AS REINVESTMENT ZONE NUMBER TWO FOR COMMERCIAL TAX
ABATEMENT AS PROVIDED IN THE PROPERTY REDEVELOPMENT AND TAX
ABATEMENT ACT; THAT ESTABLISHED THE NUMBER OF YEARS FOR THE
DISTRICT; AUTHORIZING A 1995 AGREEMENT TO EXEMPT FROM TAXATION THE
INCREASE IN VALUE OF THE PROPERTY IN ORDER TO ENCOURAGE DEVELOP-
MENT AND REDEVELOPMENT AND OTHER MATTERS RELATING THERETO.
WHEREAS, on October 12, 1995, the City Council of the City of College Station,
Texas, (the "City") created Reinvestment Zone Number Two as authorized by the
PROPERTY REDEVELOPMENT AND TAX ABATEMENT ACT, TEXAS TAX CODE, CHAPTER 312,
as amended (the "Act"); and
WHEREAS, after the creation of this reinvestment zone, the business for which it was
created decided not to locate in College Station; and
WHEREAS, no tax abatement agreement was executed by the City for the property in
this reinvestment zone; and
WHEREAS, the property is currently vacant and undeveloped;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL 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 has made the following findings based on the evidence and the testimony
presented to the City:
(a)
That the property contained in Reinvestment Zone Number Two is
not owned by a private business but is still owned by the City of
College Station;
(b)
That the City has not entered into any tax abatement agreement
concerning the property contained in this reinvestment zone;
(c)
That the City has determined that this Reinvestment Zone serves
no public purpose pursuant to the ACt because there have been no
improvements made after November 1, 1995, that are feasible and
practical and will benefit the City, its residents and property owners
in the Reinvestment Zone; and
(d)
That the designation has not contributed to the retention or expan-
sion of primary employment or to attract major investments to the
Ordinance No. 2233 Page 2
zone that would be a benefit to the property and to economic
development of the City because the proposed business did not
locate on this site.
III.
That the City hereby dissolves Reinvestment Zone Number Two and its boundaries as
described and depicted in Exhibits 'W' and 'B', and the ordinance creating such
Reinvestment Zone shall hereafter be repealed and such designation shall be null and
void and have no further force and effect.
IV.
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.
PASSED, ADOPTED and APPROVED this 13th day of FEBRUARY
,1997.
APPROVED:
LYNN~MclLHANEY, Mayo~'
ATTEST: