HomeMy WebLinkAboutOrdinance No. 01-1266 ORDINANCE NO. ~
AN ORDINANCE DESIGNATING AS A REINVESTMENT ZONE FOR
COMMERCIAL TAX ABATEMENT; MAKING CERTAIN FINDINGS
THEREON; DIRECTING THE CITY MANAGER TO PREPARE AN
AGREEMENT WITH THE APPLICANT REGARDING THE REINVESTMENT
ZONE; AND PROVIDING AN EFFECTIVE DATE.
BE IT ORDAINED BY ~ CITY COUNCIL OF THE CITY OF THE
COLONY, TEXAS:
Section 1
That the area described in Exhibit "A", attached hereto and incorporated herein by
reference, is hereby designated a reinvestment zone by the City of The Colony pursuant to
the provisions of Chapter 312 of the Texas Tax Code, as amended. It is expressly
provided, however, that no tax abatement shall occur unless and until an appropriate
agreement; as directed in Section 3 of this Ordinance, is approved by the City Council in
accordance with law.
Section 2
That in connection with the foregoing designation, the City Council makes the
following findings:
1. The reinvestment zone designated and established by this Ordinance is reasonably
likely, as a result of the designation, to contribute to the retention and expansion of
primary employment and to attract major investment in the zone that will benefit
the property and contribute to the economic development of the City of The
Colony, Texas;
2. The area within the reinvestment zone is not within an improvement project
financed by tax increment bonds;
3. The improvements and development which are sought to take place within the
reinvestment zone will conform to the comprehensive zoning ordinance of the City
of The Colony; and
4. None of the property located within the reinvestment zone is owned or leased by a
member of the City Council or the Planning and Zoning Commission; and
5. The improvements and development sought are feasible and practical and will
benefit the land included in the reinvestment zone and the City at~er the agreement
provided in Section 3 of this Ordinance has expired.
Section 3
That the City Manager or his designee is hereby directed to prepare an agreement
with the applicant in accordance with the provisions of Subchapter B, Chapter 312 of the
Texas Tax Code. The agreement shall not be effective until approved by the affu'mative
vote of a majority of the members of the City Council at a regularly scheduled meeting
held not less than seven (7) days after a notice, which must include a copy of the proposed
agreement, has been delivered to the presiding officer of the governing body of each other
taxing unit in which the property to be subject to the agreement is located.
Section 4
That this Ordinance shall be and become effective immediately after its passage
and adoption according to law.
PASSED AND APPROVED this ~ ~"~ day of (~'~~.~/, 2001.
b/ ~[[iam W. Ma~nihg,~Ma~or -
ATTEST.~
APPROVED AS TO FORM:
C~ Attorney ~
. / ~ / TEXAS AND BEING MORE -
/ /
THENCE ALONG THE SQUTH LINE OF AND A CURVE TO THE
PIANO
PARKWAY
RIGHT FOR A CENTRAL ANGLE OF £9'23'46" A RADIU~ OF 950.00 FELT' AND
~ CHORD B~RINO OF SOUTH 75'~4'17' ~ST, ~82.08
THENCE ALONO SAID CURVE TO THE RIGHT AND THE SOUTH LiNE OF P~NO
PARKWAY FOR AN ARC DISTANCE OF ~87.41 FE~ TO A 1/2 INCH IRON ROD
FOUND FOR THE POINT OF BE~INNINO;
THENCE ALONO THE SOUTH LINE OF P~NO PARKWAY AND A CURVE TO THE
RIOHT FOR A CENTRAL AN~LE OF ~0'45'50'~ A ~OlU~ OF 950.00 FE~ AND
A CHORD B~RINC OF SOUTH 55"39'29" ~T, 178.21
THENCE ALONO SAID CURVE TO THE RIGHT AND THE SOUTH LINE OF P~NO
PARKWAY ¢OR AN ARC DISTANCE OF 178.47 FE~ TO A 1/2 INCH IRON ROD
~ FOR A R~/ER~E CURVE TO THE LE~ WITH A CENTRAL ANGLE OF 15'22'4t",
A RADIU~ OF ~050.00 FE~ AND A CHORD ~RINO OF ~OUTH 57'57'5~" ~T,
280. ~ 7
THENCE ALONG 2AID CURVE TO THE LE~ AND THE SOUTH LINE OF
PARKWAY ¢OR AN ARC DISTANCE OF 141.7~ .¢E~ TO A ~/2 INCH IRON ROD
.... ~ FOR CORNER;
THENCE SOUTH 00'23'40" ~T, A OI~TANCE OF ~51.31 FE~ TO A 1/2 ~NCH
IRON ROD S~ FOR CORNER;
THENCE SOUTH 89'22'46" WE~T, A DISTANCE OF 450.00 FE~ TO A 1/2. INCH
~RON ROD ~ FOR CORNER;
THENCE NORTH OO'Sfl'40" WEST, A DISTANCE OF 1067.2~ 2E~ TO A ~/2 ,'NCH
IRON ROD FOUND ¢OR CORNER:
THENCE NORTH 28'57'5~" ~ST, A DISTANCE OF 155.45 FE~ TO THE POINT
OF ~EOlNNINO AND CONTAININO 10.~83 ACRE~ OF
SURVEYOR'S CERTIFICATE
The survey shown hereon is a true representation of the
property os determined by a survey made on the ground and under
my personal supervision. All visible improvements are os shown.
There are no visibte encroachments, conflicts, or protrusions,
except as shown. This survey conforms to the Texas Board of
Professional Land Surveyors' Minimum Standards of Practice.
~ The property is subject to ali /.(~:::~sements of record.
DAVID J. SURD~IKAN
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Dovid J. S~rdukon R.P.L.S. No. 4613
SEP-26-20~ 13:02 972 862 ?129 96X P.01