HomeMy WebLinkAboutORD 2014-98 - Expand the Downtown TIRZORDINANCE NO. 2014
WHEREAS, on November 9. 2004 through Ordinance 2004-77, the City Council of the City of
Georgetown ("City"), pursuant to the provisions of Chapter 311, Texas Tax Code ("Code"),
created the Downtown Georgetown Tax Increment Reinvestment Zone ("Zone") and the
termination date speci led for the Zone was December 31, 2029 and
WHEREAS, the purpose of the Zone is to facilitate a program of public improvements to allow
and encourage the development of downtown Georgetown into a mixed-use, pedestrian -oriented
environment consistent with the goals of the City's Master Plan; and
WHEREAS, the Zone may not be able to fund future capital projects that extend beyond
115jecember 31, 2029; and
WHEREAS, on August 26, 2014 through Resolution 082614-G, the City Council directed stwi
to expand the boundaries and extend the termination of the Zone; and
WHEREAS; extending the termination date of the Zone to December 31, 2044 will permit the
Zone to complete the purpose for its was established under current conditions and circumstances;
and
WHEREAS, by Ordinance 2005-68, the City Council approved a final Project Plan and
Reinvestment Zone Financing Plan ("Plan") and the Plan was subsequently amended by
Ordinance 2011-32; and
111TIVI n7rm T -Tyr. 97 T -PT lorPTITIF 10"1 1-101M n4
within the corporate limits of the City; and
o I of 4
WHEREAS, the City Council finds the area to be added substantially impairs and arrests the
sound growth of the City, retards the provision of housing accommodations, and constitutes an
economic and social liability and is a menace to the public health, safety, morals and welfare in
its present condition and use because of the deterioration of site and other improvements and
because of defective or inadequate sidewalk and street layout, as described in Section
311.005(a)(1) of the Code; and
WHEREAS, the City Council rids t at no more than thirty percent (30%) of the property,
excluding property is that publicly owned, is used for residential purposes in the enlarged Zone
and that the total appraised value of taxable real property in the enlarged Zone does not exceed
fifty percent (50%) of the total appraised value of the City's taxable real property and in the
industrial districts created by the City, as described in Section 311.006(a) of the Code; and
WHEREAS, on October 27, 2014, the Board of Directors of the Zone voted unanimously to
recommend to the City Council the amendment of the Plan to expand the boundaries, as set out
in Exhibit A, and extend the termination date from December 31, 2029 to December 31, 2044;
and
WIWMAS, the findings contained in Ordinance 2004-77 continue to apply to the Zone and all
terms and conditions of Ordinance 2004-77, except as modified herein, remain in full force and
affect;
-f —f W=ff 174TIF
GEORGETOWN, TEXAS, THAT:
Section 1. The meeting at which this ordinance was approved was in all things conducted in
compliance with the Texas Open Meetings Act, Texas Government Code, Chapter 551.
Section 2. Findings. The facts and recitations contained in the preamble of this ordinance are
hereby found and declared to be true and correct and are incorporated by reference herein and
expressly made a part hereof, as if copied verbatim.
Section 3. Extend the Termination Date. That the termination date of the Downtown Georgetown
Tax Increment Reinvestment Zone is hereby extended to December 31, 2044. Except as provided in
the preceding sentence of this Ordinance, Ordinance 2004-77 shall continue in full force and effect.
F. TIMM ITQ 0 e - i e
NIT40 - =--
by adding the area described in Exhibit "A", a copy of which is attached to this Ordinance.
Section 5. Tax Increment Base. That the tax increment base for the enlarged Zone shall include
the tax increment base established by City Ordinance 2004-77, and beginning January 1, 2015,
shall include the tax increment base attributable to the land added to the Zone by this Ordinance,
which tax increment base shall be January I of the year in which this ordinance becomes
effective.
1\
U aoici— 2 of 4
Section 6. Severability. If any provision of this ordinance or application thereof to any person or
circumstance shall be held invalid, such invalidity shall not affect the other provisions, or
application thereof, of this ordinance which can be given effect without the invalid provision or
application, and to this end the provisions of this ordinance are hereby declared to be severable.
Section 7, The Mayor is hereby authorized to sign this ordinance and the City Secretary to attest.
This Ordinance shall become effective and be in full force and effect ten (10) days on and after
publication in accordance with the provisions of the Charter of the City of Georgetown.
Fes is Brettle, City Secretary
Bridget Chaman, City Attorney
3 of 4
OVA -&.I nlu —ell
Iowai 0
Dale Ross, Mayor
