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HomeMy WebLinkAboutOrdinance No. 2011-1933 CITY OF THE COLONY, TEXAS ORDINANCE NO. 2011-1933 AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF THE COLONY, TEXAS AUTHORIZING AND APPROVING THE ESTABLISHMENT AND ADMINISTRATION OF ONE OR MORE ECONOMIC DEVELOPMENT PROGRAMS TO DEVELOP AND DIVERSIFY THE ECONOMY WITHIN THE TAX INCREMENT REINVESTMENT ZONE NUMBER ONE, THE CITY OF THE COLONY, TEXAS, AND TO DEVELOP AND EXPAND BUSINESS AND COMMERCIAL ACTIVITY WITHIN SUCH ZONE; PROVIDING A SEVERABILITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the City Council of the City of The Colony (the "City Council" and the "City") adopted Ordinance No. 2011-1926 on November 8, 2011 designating a certain geographic area within its jurisdiction as a reinvestment zone named the "Tax Increment Reinvestment Zone Number One, City of The Colony, Texas" (the "Zone"), in accordance with the Tax Increment Financing Act, Chapter 311 of the Texas Tax Code, as amended (the "TIF Act"); and WHEREAS, Section 311.010(h) of the TIF Act authorizes the board of directors of the Zone (the `Board'), subject to the approval of the City Council, to establish and provide for the administration of one or more programs for the public purposes of developing and diversifying the economy of the Zone, and developing and expanding business and commercial activity within the Zone, as the Board determines is necessary or convenient to implement and achieve the purposes of the project plan and reinvestment financing plan for the Zone (the "Final Project and Finance Plan-); and WHEREAS, Chapter 380 of the Texas Local Government Code, as amended ("Chapter 380") authorizes the City Council to establish and provide for the administration of one or more programs, including programs for making loans and grants of public money and providing personnel and services of the municipality, to promote state or local economic development and to stimulate business and commercial activity in the municipality; and WHEREAS, Section 311.010(h) of the TIF Act further provides that upon approval of by the City Council, the Board may exercise all of the powers of the City under Chapter 380 to promote state or local economic development and to stimulate business and commercial activity in the Zone; and WHEREAS, the City's Comprehensive Economic Development Policy, as amended, provides for the creation of economic development incentives, including economic development programs and grants, for the purpose of encouraging economic growth and the expansion of the local economy within the City; and WHEREAS, the Board of the Zone adopted Resolution No. T2011-001 on November 14, 2011, finding it necessary and convenient to the implementation of the Final Project and Finance Plan, and the achievement of the purposes contained therein, to establish and 95302297.1/11108583 - I - provide for the administration of any or all of the economic development programs fully described in the Final Project and Finance Plan (collectively, the "Reinvestment Zone Economic Development Program") adopted by the Board and submitted to the City Council for approval in accordance with the TIF Act; and WHEREAS, the City Council hereby finds, determines and declares that the creation of the Reinvestment Zone Economic Development Program furthers the public purpose of developing and diversifying the economy of the Zone and is authorized by Article III, Section 52-a of the Texas Constitution, as amended. NOW THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF THE COLONY, TEXAS: SECTION 1. CREATION OF ECONOMIC DEVELOPMENT PROGRAMS. The City Council hereby authorizes the Board to establish and provide for the administration of any or all of the economic development programs fully described in the Final Project and Finance Plan (collectively, the "Reinvestment Zone Economic Development Program") adopted by the Board and submitted to the City Council for approval in accordance with the TIF Act. Such Reinvestment Zone Economic Development Program is found and determined to be necessary and convenient to implement and achieve the purposes of the Final Project and Finance Plan. The Reinvestment Zone Economic Development Program may include, to the extent provided by law, (i) programs to make grants of land and economic development projects in the Zone, and (ii) programs to make grants of any lawfully available money held in the Tax Increment Fund; and, both types of programs shall be for activities that benefit the Zone and stimulate business and commercial activities within the Zone. SECTION 2. CONTRACT WITH LOCAL GOVERNMENT CORPORATION. As provided in Section 311.010(f) of the TIE Act, the Board and the City Council may contact with a local govermment corporation to manage and implement the Reinvestment Zone Economic Development Program contained in the Final Project and Finance Plan for the Zone. SECTION 3. INCONSISTENT PROVISIONS. All ordinances, orders, or resolutions, or parts thereof, which are in conflict or inconsistent with any provision of this Ordinance are hereby repealed to the extent of such conflict and the provisions of this Ordinance shall be and remain controlling as to the matters contained herein. SECTION 4. INCORPORATION OF FINDINGS AND DETERMINATIONS. The findings and determinations of the City Council contained in the preamble hereof are hereby incorporated by reference and made a part of this Ordinance for all purposes as if the same were restated in full in this Section. SECTION 5. GOVERNING LAW. This Ordinance shall be construed and enforced in accordance with the laws of the State of Texas and the United States of America. SECTION 6. EFFECT OF HEADINGS. The Section headings herein are for convenience of reference only and shall not affect the construction hereof. 95302297.1/11108583 -2- SECTION 7. SEVERABILITY. If any provision, section, subsection, sentence, clause or phrase of this Ordinance, or the application of the same to any person or set of circumstances shall be held to be unconstitutional, void, or invalid, the validity of the remaining provisions of this Ordinance, or their application to other persons or set of circumstances shall nevertheless be valid, it being the intent of the City Council in adopting this Ordinance that no portion hereof shall become inoperative or fail by reason of any unconstitutionality, voidness or invalidity of any portion hereof, and all provisions of this Ordinance are declared severable for that purpose.. SECTION 8. PUBLIC MEETING. It is officially found, determined and declared that the meeting at which this Ordinance is adopted was open to the public and public notice of the time, place, and subject matter of the public business to be considered at such meeting, including this Ordinance, was given, all as required by Chapter 551 of the Texas Government Code, as amended. SECTION 9. EFFECTIVE DATE. This Ordinance shall become effective immediately upon its passage. [Reinainder ofpage left blank intentionally.] 95302297.1/11108583 - 3 - PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF THE COLONY, TEXAS, THIS THE 15""' DAY OF NOVEMBER, 2011. 0111 oe McCo rry, Mayor ATTEST: r i•istie Wilson, City Secretary , (SEAL)? APPROVED AS TO FORM: r it rp Jeff Moore; City Attorney 95302297.1 S-1