HomeMy WebLinkAbout2019-R-22 - TIRZ No. 1 Expansion RESOLUTION NO. 2019-R-22
-- A RESOLUTION DIRECTING STAFF TO PROCEED WITH THE EXPANSION OF THE BOUNDARIES OF TAX
INCREMENT REINVESTMENT ZONE NO. ONE, CITY OF STEPHENVILLE, TEXAS PURSUANT TO
PROCEDURES REQUIRED BY CHAPTER 311 OF THE TEXAS TAX CODE
WHEREAS, as authorized by Chapter 311 of the Texas Tax Code (the "Act") and pursuant to
Ordinance No. 2019-0-14, adopted by the City Council of the City of Stephenville, Texas (the "City") on
April 25,2019,the City created Tax Increment Reinvestment Zone Number One,City of Stephenville,Texas
(the "Zone"); and
WHEREAS, pursuant to Ordinance No. 2019-0-14 the City created the Board of Directors
(hereinafter referred to as"Board")for the Zone; and
WHEREAS, the Board shall make recommendations to the City Council concerning the
administration, management, and operation of the Zone; and
WHEREAS, on May 7,2019 the Board approved the project and financing plan for the Zone; and
WHEREAS,pursuant to Ordinance No.2019-0-15 the City approved the project and financing plan
for the Zone; and
WHEREAS, the project and financing plan details the infrastructure costs eligible for
reimbursement by the Zone; and
WHEREAS, on June 25, 2019,the Board approved the proposed expansion of Zone boundaries to
include portions of Harbin Drive; and
WHEREAS,the City finds that the expansion of the Zone boundaries will facilitate implementation
of the project and financing plan; and
NOW,THEREFORE,BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF STEPHENVILLE,TEXAS:
SECTION 1.
That the City Council directs staff to proceed with the expansion of the boundaries of the Zone pursuant
to the procedures required by Chapter 311 of the Texas Tax Code.
SECTION 2.
That this resolution shall take effect from and after its final date of passage,and is accordingly so ordered.
PASSED and APPROVED this 25th day of June, 2019.
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W ' 'milky • r— Doug Svien, Mayor
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Reviewed by Allen . Barnes,
City Manager
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Approved as to form and legality by
Randy Thomas, City Attorney