HomeMy WebLinkAboutTax Increment Finance (TIF) Resolutions (Resolution R-24-01)-06/18/2024RESQLUTiQN R-Z4-D1
A RESQLLJTIUN AMENUING RESQLUTIDN R-1Z-04 AND APPRQVING
THE AMENDEQ TAX INCREMENT REIIVVESTMENT Z�NE {TIRZ}
PRU]ECT AND F�NANCING PLAN;
WHEREAS, on No�ember 4, 1998, the City Council of the City of Ca�ley�ille,
Texas �the "City"} created Tax Increment Rein�estment Zone
Numb�r Qne, City of Colley�ilie, Texas �the "Zor�e"} pursuant
to Drdin�nC� a-9$-f�124 and amended hy nr�inance �-98-
1�31, to prv�ide benefits ta the City, its r�sidents ar�d property
vwners, in g�n�ral, and to the property, residents and prop�rty
❑wners in the rein�estment zane; and
WHEREA5, in accordar�ee with 5ectian 311.011�a} of the Texas Tax Cade
(the "Code"}, on November �4, 1998, and amended on ]anuary
ZZ, 2002 the board of directors ❑f the Zone (the "Baard"}
adopted a praject plan and rein��stment zane financing plan
for the Zon� (colle�ti�ely, the "Plan"}, which, as require� hy
Section 311.011(d} ❑f the Code, were appra�ed by the City
Council pursuant to Qrdi�an�e 4-98-i132 and amer�ded by
Qrdinan�e Q-p�-1324, Ordinanc� Q-03-14�Z, and Ordinance
�-I2-1858;and
WHEREAS, 5ection 311.0� ite} ❑f the �ode allows t�e board ❑f directors ;
of a TIRZ �a recommend an amendment tv a praject plan far �
the �ane so long as the ame��ment is cpnsistent with the ;
requirements and limitations af Chapter 311 of the Code and
is appra�ed by the go�erning body ❑� the municipality that
created the zone; and
WHEREAS. the Colley�ille TIRZ �aard desires to amend th� TIRZ Praje�t !
and Financing Plan, to update the prvject eosts cat�gories ;
listed En "Attachment Three" to Or�inance �-98-�.13� ar�d �
"Ex�ibit A" ta ❑rdinance �-12-1858, to outline the fundir�g of �
a total of �79,784,875 in project costs, inciuding costs i
assvciated w€th operating rein�estment zone proje�t faciiities,
as descri�ed in "Exhibit A" whE�h is at�ached her�to and hereby
made a part of t�is R�solution far all purposes.
NQW, THEREFURE. BE IT RESDLVED BY THE TAX INCREMENT i
FINANC�NG D�STRICT B�ARO UF DIRECT�RS DF THE CITY �QF
C�LLEYVILLE, TEXAS:
5ec. 1. THAT the attached amended TIRZ Project and Financ+ng Plan �
�xhibit "A" is hereby appro�ed. �
Resolution R-24-D1
Page Z of �
5ec. 2.
THAT this Resalution shall he effecti�e immediatefy upfln '
�pprq�al. j
AND IT �S Sa RES�LVED.
APPRaVE❑ BY A V�TE a��p AYES,U NAYS DN THIS THE 18TH DAY �F ]UNE
Z024.
CULLEYVILLE TAX INCREMENT
F C G rSTRTCT B�ARD
�
Bob�y Li�cf'drFiood
C�airman
ATTEST:
. �/
Christine Lo�en, TRMC
City Secre�ary
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