HomeMy WebLinkAboutR88-211200
RESOLUTION NO. R88-211
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
PLAINVIEW, TEXAS, DECLARING THAT THE CITY OF
PLAINVIEW, TEXAS, ELECTS TO BECOME ELIGIBLE TO
PARTICIPATE IN TAX ABATEMENT IN ACCORDANCE WITH
THE PROPERTY REDEVELOPMENT AND TAX ABATEMENT ACT
(ARTICLE 1066f VERNON'S TEXAS CIVIL STATUTES).
WHEREAS, the enhancement of the local economy is in the best
interest of the citizens of Plainview;
WHEREAS, the creation of specified tax abatement zones will be
reasonably likely to contribute to the retention or expansion of
primary employment or to attract major investment that would be a
benefit to the property and that would contribute to the economic
development of the City of Plainview;
WHEREAS, the passage of Senate Bill 1225 amended the Property
Redevelopment and Tax Abatement Act to allow cities to establish
local criteria for the creation of tax abatement zones.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City
of Plainview, Texas:
That the City of Plainview does hereby elect to become
eligible to participate in tax abatement;
That the criteria and guidelines governing tax abatement
agreement shall be designated as part of the comprehensive policy
statement on economic development incentives as adopted by the City
Council of the City of Plainview.
PASSED AND APPROVED this 22nd day of November, 19R8.
E.V. Ridlehuber, Mayor
ATTEST:
Carla Reese, City Secretary
David Blackburn, City Attorney