HomeMy WebLinkAboutR01-103RESOLUTION 01-103
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
PLAINVIEW, TEXAS, ESTABLISHING INCENTIVES IN THE
REINVESTMENT ZONE, MAKING THEM AVAILABLE TO QUALIFIED
COMMERCIAL AND RESIDENTIAL PROJECTS, PURSUANT TO
PROPERTY REDEVELOPMENT AND TAX ABATEMENT ACT
(CHAPTER 312 OF THE TEXAS TAX CODE).
WHEREAS, the health, safety, and welfare of the people of Plainview, Texas are
dependent on the continual encouragement, development, growth, and expansion of the
private sector of the City; and,
WHEREAS, it is the Public policy of the City Council, by creating an reinvestment
zone in the City, to provide the necessary means to create the proper economic and
social environment to induce the investment of private resources in productive
residential and commercial enterprises which would be reasonably likely as a result of
the designation to contribute to the retention or expansion of pdmary 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 municipality; and
WHEREAS, it is necessary and in the best interest of the city to establish a
process that provides incentives to induce private investment in the reinvestment zone
and provides for the proper administration of the incentive program; and
WHEREAS, City of Plainview has established cdteria for guidelines and criteda
governing tax abatement agreements by the City;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF PLAINVIEW, TEXAS, that the City Council elects to become eligible to participate in
tax abatement for a designated reinvestment zone for both new facilities and structures
and for the expansion or modernization of existing facilities and structures and adopts
criteria set forth in Exhibit A attached hereto and incorporated herewith as if fully set
forth at length pursuant to the Property Development Tax Abatement Act.
PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF
PLAINVlEW, TEXAS, the 12th day of June, 2001, at which meeting a quorum was
present and voting.
Belinda Hinojosa, City
APPROVED AS TO FORM:
Wall~"~at(~h//City A'ttomey '
./
Resolution R01-103 Page 1 of 2
EXHIBIT "A"
That to be considered for execution of an agreement for tax abatement the
residential project shall:
a)
b)
c)
d)
e)
f)
Be located entirely within the designated zone.
Involve new construction of single-family residential units or
improvements to single and multiple family residential units as
defined by the City of Plainview Zoning Ordinance
Have a minimum expenditure of $5,000.00 for the proposed
improvements or repair.
Not include property that is owned or leased by a member of the
City Council of the City of Plainview nor by a member of the
Planning and Zoning Commission; and
Conform to all the requirements of the City's zoning ordinance.
The tax abatement shall be one hundred percent (100%) of the
value of the new construction or improvement, made pursuant to the
provisions of herein.
Resolution R01-103
Exhibit "A"
Page 2 of 2