Ord,. 1999-2350 - enlarge TIRZ #1 boundary

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e e THE STATE OF TEXAS ) COUNTY OF HARRIS ) CITY OF LA PORTE ) NOTICE OF PUBLIC HEARING NOTICE OF PUBLIC HEARING FOR EXPANSION OF REINVESTMENT ZONE NUMBER ONE, CITY OF LA PORTE, FOR TAX INCREMENT FINANCING PURPOSES PURSUANT TO CHAPTER 311, TEXAS TAX CODE. Notice is hereby given that the City Council of the City of La Porte will hold a public hearing on Monday, August 9, 1999, beginning at 6:00 p.m. o'clock in the City Council Chambers, City Hall, 604 West Fairmont Parkway, La Porte, on the expansion of Reinvestment Zone Number One, City of La Porte, Texas (referred to as Reinvestment Zone Number One) for tax increment financing purposes pursuant to Chapter 311 of the Texas Tax Code and its benefits to the city and the' properties to be included in the Zone. The proposed expansion of Reinvestment Zone Number One as shown in the following map, includes approximately 319 acres of land within the City of La Porte, and contains substantially open, vacant and unserved property. If combined with the current boundaries of Reinvestment Zone Number One, the total acreage will be approximately 1,356 acres. Tentative plans include the expenditure of certain defined public funds for eligible project costs including planning, engineering, and construction of new water distribution facilities, wastewater collection facilities, storm drainage improvements, construction and reconstruction of streets, and other related public improvements, as well as the costs of organizing and operating the Zone. The general impact of the expansion of the Zone will be to increase the value of taxable properties through the construction of new public and private improvements. All persons are invited to attend the hearing and speak for or against the expansion of Reinvestment Zone Number One, its proposed boundaries or the concept of tax increment financing. Owners of property in the proposed Zone may protest orally or in writing the inclusion of their property in the Zone. The proposed expansion of Reinvestment Zone Number One is described below and shown in the following map, attached to this notice as Exhibit "A". A map and description of the proposed expansion may be obtained in the Office of the City Secretary of the City of La Porte, 604 West Fainnont Parkway, La Porte 77571. PROPOSED BOUNDARY OF EXPANSION TO REINVESTMENT ZONE NUMBER ONE, CITY OF LA PORTE, TEXAS STATE OF TEXAS ) COUNTY OF HARRIS ) TRACT NO.1: BEGINNING at the intersection of the east right-of-way line of San Jacinto Street and the north right- of-way line of Caplen Avenue (East KID Street); THENCE in an easterly direction along the north right-of-way line of Caplen Avenue to its intersection with the east right-of-way line of Virginia Street;