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HomeMy WebLinkAboutResolution 1998-072RESOLUTION NO. 98-72 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 industry and the expansion of existing industry, 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 create a Tax Increment Financing District if the area's present condition "substantially impair's City's growth" or has "substandard or deteriorating, faulty layout, unsanitary or unsafe conditions that endanger life", and; WHEREAS, the City of North Richland Hills City Council recognized that the Richland Plaza Shopping Center meets such criteria, designating the 42.09-acre site as Tax Increment Reinvestment Zone Number One on September 14, 1998; and, WHEREAS, the City has since convened the Zone's Board of Directors, who recommended City Council approval of a participation agreement with the Birdville Independent School District; and, WHEREAS, City staff has likewise negotiated a similar agreement with the Tarrant County Hospital District; and, WHEREAS, the Hospital District Board of Trustees unanimously adopted the agreement, stipulating 100% participation in Reinvestment Zone Number One, City of North Richland Hills, on December 3, 1998. NOW, THEREFORE BE IT RESOLVED that the City of North Richland Hills City Council does hereby approve the participation agreement with the Tarrant County Hospital District, and; BE IT FURTHER RESOLVED that the City of North Richland Hills City Council does hereby authorize the City Manager to execute said agreement. Passed by the City Council this 21st day of December, 1998. C, a Charles Scoma, Mayor City of North Richland Hills, Texas ATTEST: ~, Patricia Hutson, City Secretary APPROVED AS TO CONTENT: ;~ , 1` ~ ~~ S ? ~ U • ~'. Mar~,y'~lVieder,Director of Economic Development APPROVED AS TO FORM AND LEGALITY: ~,,-l~ Rex Mcffntire, A~ftorney for the City