HomeMy WebLinkAboutResolution 1999-060
RESOLUTION NO. 99 - 60
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 the property tax base, and;
WHEREAS, the creation and retention of job opportunities that result from new
economic development is the highest civic priority, and;
WHEREAS, Chapter 311 of the Texas Tax Code authorizes City Councils to initiate
creation of a Tax Increment Reinvestment Zone (TIRZ) if the area is "predominantly open
and, because of obsolete platting, deterioration of structures or site improvements, or other
factors, substantially impair or arrest the sound growth of the municipality", and;
WHEREAS, the City of North Richland Hills City Council recognizes that the 280+
acre area encompassing and surrounding the proposed NRH Town Center appears to
meet the State's criteria; and,
WHEREAS, a Dallas-based developer has an option to partner with Raytheon
Systems, Inc. to develop 330 acres into an upscale, mixed-use complex, and;
WHEREAS, consultants for the developer and City have quantified the need for a
new 80-100,000 square foot recreation center and 57-60,000 square foot library facility,
both of which will help facilitate development of 600,000 square feet of corporate office
space and 160,000 square feet of additional retail space, and;
WHEREAS, the costs of constructing these proposed public improvements are
eligible and could be funded through creation of a tax increment reinvestment zone,
planned use of the property does not constitute a hazard to public safety, health or morals,
and the planned use of the property does not violate other codes or laws.
NOW, THEREFORE BE IT RESOLVED that the City of North Richland Hills City
Council does hereby communicate its interest in and intent to form Reinvestment Zone
Number 2, City of North Richland Hills, and;
BE IT FURTHER RESOLVED that the City of North Richland Hills City Council does
hereby authorize the City Manager and his staff to begin preparing a conceptualized
financing plan for City Council review and comment, stipulated in the State's timetable for
creation of a TIRZ.
Passed by the City Council this 23rd day of August, 1999.
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Charles Scoma, Mayor
City of North Richland Hills, Texas
ATTEST:
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Patricia Hutson, City Secretary
APPROVED f-.S TO CONTENT:
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rty ~r, Director of Economic Development
APPROVED AS TO FORM AND LEGALITY:
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Rex rtícEntirer Attorney for the City