HomeMy WebLinkAboutResolution 1997-057
RESOLUTION NO. 97 - 57
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, the Texas Property Redevelopment and Tax Abatement Act authorizes
cities that have adopted "guidelines and criteria" for the designation of reinvestment zones
for 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 Lots 3-R-1
and A-R, Block 3 of the Industrial Park Addition on maps submitted to the City by H&M
Food Systems Company, Inc. as a reinvestment zone, and;
WHEREAS, H&M Food Systems Company, Inc. has requested tax abatements for
improvements to be constructed in the reinvestment zone, and;
WHEREAS, the planned property improvements will have an estimated total value
of $16,900,000 and H&M Food Systems Company, Inc. will retain the full-time equivalent
of 235 employees and hire the full-time equivalent of a minimum of 200 additional
employees at the facilities on which taxes will be abated, and;
WHEREAS, the City Council finds that the request for tax abatement by H&M Food
Systems Company, Inc. 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 applicant has sufficient financial capacity to carry out the project, 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;
Page 2
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 H&M Food
Systems Company, Inc. and that no such cause was demonstrated, and;
WHEREAS, H&M Food Systems Company, Inc. has agreed to meet certain
additional requirements and provisions of abatement guidelines and criteria of Tarrant
County and any other local taxing entity which chooses to grant such an abatement.
NOW, THEREFORE BE IT RESOLVED that the City of North Richland Hills City
Council does hereby approve the application by H&M Food Systems Company, Inc. for tax
abatement associated with the improvements described in its application for such
abatement, dated April 8, 1997 (and amended December 9, 1997), 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 $12.1 million of
H&M's investment in accordance with the City Guidelines and Criteria.
Passed by the City Council this 22nd day of December, 1997.
,-j~..;¡~ ------J
Tommy Brown ayor
City of North Richland Hills, Texas
ATTEST:
(//7}; /71 , V t:i ¢, /, - -h. _
\.. / (/U/U ~.:xJr'--
Patricia Hutson, City Secretary
APP~OVE~ AS TO CONTENT:
r, Director of Economic Development
APPR. OVED AS~(!.. R~.A [ÈGALlTY:
(() /¿lG ¡¿[L~
Rex Nð Entire, Attorney for the City