HomeMy WebLinkAboutR24-625RESOLUTION NO. R24-625
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PLAINVIEW
TO BE ELIGIBLE TO PARTICIPATE IN TAX ABATEMENTS IN CITY OF
PLAINVIEW REINVESTMENT ZONE NO. 1 (ENTERPRISE ZONE TRACT
NO. 950200 BLOCK 3) AS AUTHORIZED BY CHAPTER 312 OF THE
TEXAS TAX CODE
WHEREAS, the City Council of the City of Plainview, Texas has created City of
Plainview Reinvestment Zone No. 1 to promote the development or redevelopment of a
certain contiguous geographic area within its jurisdiction for commercial and industrial tax
abatement; and
WHEREAS, on January 9, 2024, the City Council adopted by Resolution R24-622
which established guidelines and criteria for tax abatement agreements pursuant to
Texas Tax Code § 312.002; and
WHEREAS, before the City of Plainview may participate in tax abatement, Texas
Tax Code § 312.002 requires the governing body to adopt a resolution stating that the
taxing unit elects to become eligible to participate in tax abatement; and
WHEREAS, the City Council finds that the improvements sought are feasible and
would be of benefit to the city and the reinvestment zone after expiration of the agreement;
and
WHEREAS, the City Council finds that the City of Plainview Reinvestment Zone
No. 1 (Enterprise Zone Tract No. 950200 Block 3) meets the applicable criteria for
reinvestment zones, and the City of Plainview Reinvestment Zone No. 1 (Enterprise Zone
Tract No. 950200 Block 3) is likely to contribute to the retention of primary employment
and attract major investment in the reinvestment zone and desires to participate in tax
abatement in City of Plainview Reinvestment Zone No. 1.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
PLAINVIEW, TEXAS, THAT:
1. The findings and recitals outlined above are found to be true, factual and correct
and are hereby adopted and approved by the City Council and incorporated into this
resolution as though set forth fully herein.
2. The City Council hereby elects to be eligible to participate in tax abatements in
accordance with Chapter 312 of the Code within City of Plainview Reinvestment Zone
No. 1.
3. The City Council finds that the improvements sought are feasible and would be of
benefit to the City of Plainview Reinvestment Zone No. 1 (Enterprise Zone Tract No.
950200 Block 3) and the City of Plainview after expiration of the agreement.
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4. The City Council finds that the City of Plainview Reinvestment Zone No. 1 meets
the applicable criteria for reinvestment zones, and designation of the reinvestment zone
is likely to contribute to the retention of primary employment and attract major investment
in the City of Plainview Reinvestment Zone No. 1 (Enterprise Zone Tract No. 950200
Block 3) and the City of Plainview.
PASSED AND APPROVED this 27th day of February, 2024.
ATTEST:
Belinda Hinojosa, City cretary
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