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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 Q �� � � � (� x� L!J U � Q Z �_. W Z Q N H Z W � � W 7 Z � � ❑ � 4 Z a J a � C.} �u � � a O � Z WC C ❑ � LJd � Q � � W � V N �w + W � Y / � � •� � �^{ W � � U � `� 1 � �V � � W z � -� � ❑ C? 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