HomeMy WebLinkAboutResolution 1997-041
RESOLUTION NO: 97 - 41
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;
WHEREAS, the City of North Richland Hills City Council has designated Lot 5R1,
Block 1 of the N.R.H. Industrial Park Addition on maps submitted to the City by Tecnol,
Inc., as a reinvestment zone, and;
WHEREAS, Tecnol, 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 $4,450,000 and within five years of the project's completion, Tecnol, Inc. will hire a
minimum of 160 additional permanent, full-time employees at the facility on which taxes
will be abated, and;
WHEREAS, the City Council finds that the request for tax abatement by Tecnol,
Inc., meets the applicable City Guidelines and Criteria, adopted March 24, 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;
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 appliætion for tax abatement by Tecnol, Inc., and
that no such cause was demonstrated, and;
WHEREAS, Tecnol, 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 supercede Resolution 97-25 and approve the application by Tecnol,
Inc. for tax abatement associated with the improvements described in its application for
such abatement, dated May 1, 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 the tax abatement agreement in accordance with the City
Guidelines and Criteria.
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Tommy Brown, M, or
City of North Ricl1land Hills, Texas
ATTEST:
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atricia Hutson, City Secretary