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HomeMy WebLinkAboutResolution 2001-070 PROPERTY TAX ABATEMENT RESOLUTION NO. 2001-070 WHEREAS, the economic viability of the City of North Richland Hills depends on the City's ability to attract new investment through the location of new business and the expansion of existing business, and; WHEREAS, the creation and retention of job opportunities that result from new economic development is the highest civic priority, and; WHEREAS, the Texas Property Redevelopment and Tax Abatement Act authorizes cities that have adopted "Guidelines and Criteria" for the designation of reinvestment zones for the purposes of tax abatement to participate in such tax abatement, and; WHEREAS, the City of North Richland Hills City Council readopted such Guidelines and Criteria by resolution on March 24, 1997 and amended them on September 22, 1997, and; WHEREAS, the City of North Richland Hills City Council has designated North Hills Creek Mall, L.P. as a reinvestment zone, and; WHEREAS, North Hills Creek Mall, L.P. has requested tax abatements for improvements to be constructed in the reinvestment zone, and; WHEREAS, the planned real property improvements will have an estimated total value of $66,000,000 and upon completion of Mall Expansion, North Hills Creek Mall, L.P. will retain 379 jobs and bring an additional 321 jobs to the City of which 138 are full-time at the façilities on which taxes will be abated, and; WHEREAS, the City Council finds that the request for tax abatement by North Hills Creek Mall, L.P. meets the applicable City Guidelines and Criteria, adopted March 24, 1997 (and amended September 22, 1997), and requirements of the Texas Property Redevelopment and Tax Abatement Act, and; WHEREAS, the City Council finds that the approval of the proposed tax abatement will not have a substantially adverse effect on the provision of government services or tax base, that the planned use of the property does not constitute a hazard to public safety, health or morals, and that the planned use of the property does not violate other codes or laws, and; WHEREAS, the City Council has held a public hearing in compliance with the City Guidelines and Criteria to provide other affected jurisdictions with an opportunity to show cause to the City Council for denying the application for tax abatement by North Hills Creek Mall, L.P. and that no such cause was demonstrated. 1 PROPERTY TAX ABATEMENT RESOLUTION NO. 2001-070 WHEREAS, the economic viability of the City of North Richland Hills depends on the City's ability to attract new investment through the location of new business and the expansion of existing business, and; WHEREAS, the creation and retention of job opportunities that result from new economic development is the highest civic priority, and; WHEREAS, the Texas Property Redevelopment and Tax Abatement Act authorizes cities that have adopted "Guidelines and Criteria" for the designation of reinvestment zones for the purposes of tax abatement to participate in such tax abatement, and; WHEREAS, the City of North Richland Hills City Council readopted such Guidelines and Criteria by resolution on March 24, 1997 and amended them on September 22, 1997, and; WHEREAS, the City of North Richland Hills City Council has designated North Hills Creek Mall, L.P. as a reinvestment zone, and; WHEREAS, North Hills Creek Mall, L.P. has requested tax abatements for improvements to be constructed in the reinvestment zone, and; WHEREAS, the planned real property improvements will have an estimated total value of $66,000,000 and upon completion of Mall Expansion, North Hills Creek Mall, L.P. will retain 379 jobs and bring an additional 321 jobs to the City of which 138 are full-time at the façilities on which taxes will be abated, and; WHEREAS, the City Council finds that the request for tax abatement by North Hills Creek Mall, L.P. meets the applicable City Guidelines and Criteria, adopted March 24, 1997 (and amended September 22, 1997), and requirements of the Texas Property Redevelopment and Tax Abatement Act, and; WHEREAS, the City Council finds that the approval of the proposed tax abatement will not have a substantially adverse effect on the provision of government services or tax base, that the planned use of the property does not constitute a hazard to public safety, health or morals, and that the planned use of the property does not violate other codes or laws, and; WHEREAS, the City Council has held a public hearing in compliance with the City Guidelines and Criteria to provide other affected jurisdictions with an opportunity to show cause to the City Council for denying the application for tax abatement by North Hills Creek Mall, L.P. and that no such cause was demonstrated. 1 PROPERTY TAX ABATEMENT RESOLUTION NO. 2001-070 WHEREAS, the economic viability of the City of North Richland Hills depends on the City's ability to attract new investment through the location of new business and the expansion of existing business, and; WHEREAS, the creation and retention of job opportunities that result from new economic development is the highest civic priority, and; WHEREAS, the Texas Property Redevelopment and Tax Abatement Act authorizes cities that have adopted "Guidelines and Criteria" for the designation of reinvestment zones for the purposes of tax abatement to participate in such tax abatement, and; WHEREAS, the City of North Richland Hills City Council readopted such Guidelines and Criteria by resolution on March 24, 1997 and amended them on September 22, 1997, and; WHEREAS, the City of North Richland Hills City Council has designated North Hills Creek Mall, L.P. as a reinvestment zone, and; WHEREAS, North Hills Creek Mall, L.P. has requested tax abatements for improvements to be constructed in the reinvestment zone, and; WHEREAS, the planned real property improvements will have an estimated total value of $66,000,000 and upon completion of Mall Expansion, North Hills Creek Mall, L.P. will retain 379 jobs and bring an additional 321 jobs to the City of which 138 are full-time at the façilities on which taxes will be abated, and; WHEREAS, the City Council finds that the request for tax abatement by North Hills Creek Mall, L.P. meets the applicable City Guidelines and Criteria, adopted March 24, 1997 (and amended September 22, 1997), and requirements of the Texas Property Redevelopment and Tax Abatement Act, and; WHEREAS, the City Council finds that the approval of the proposed tax abatement will not have a substantially adverse effect on the provision of government services or tax base, that the planned use of the property does not constitute a hazard to public safety, health or morals, and that the planned use of the property does not violate other codes or laws, and; WHEREAS, the City Council has held a public hearing in compliance with the City Guidelines and Criteria to provide other affected jurisdictions with an opportunity to show cause to the City Council for denying the application for tax abatement by North Hills Creek Mall, L.P. and that no such cause was demonstrated. 1 NOW, THEREFORE BE IT RESOLVED that the City of North Richland Hills City Council does hereby approve the application by North Hills Creek Mall, LP. for tax abatement associated with the improvements described in its application for such abatement, dated November 8,2001 and; BE IT FURTHER RESOLVED that the City of North Richland Hills City Council does hereby authorize the City Manager to execute the contract and other documents, as necessary, to implement an agreement for the abatement of taxes on $66,000,000 million of North Hills Creek Mall, LP. investment in accordance with the Guidelines and Criteria. Passed by the City Council this 10TH day of December, 2001. if' (ì' 1 J) '( tL-C.. J{ 'f. . '¿;rv- Charles Scoma",Mayor City of North Richland Hills, Texas ATTEST: '." ---~~tlbZt¿¡éi '-/~ Patricia Hutson, City Secretary APPROVED AS TO FORM AND LEGALITY: Rex McEntire, Attorney for the City 2