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<br />. <br /> <br />. <br />ORIGINAL <br /> <br />ORDINANCE NO. 98-2279 <br /> <br />AN ORDINANCE AMENDING THE CODE OF ORDINANCES OF THE CITY OF LA <br />PORTE BY ADDING ARTICLE V GUIDELINES AND CRITERIA GOVERNING TAX <br />ABATEMENT AGREEMENTS BY THE CITY OF LA PORTE, ADDING SECTIONS 66- <br />140 THROUGH 66-152 INCLUSIVE; AUTHORIZING CONSIDERATION OF AN <br />APPLICATION FOR DESIGNATION OF THE I'PPG INDUSTRIES REINVESTMENT <br />ZONE"; FINDING COMPLIANCE WITH THE OPEN MEETINGS LAW; AND PROVIDING <br />AN EFFECTIVE DATE HEREOF. <br /> <br />BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LA PORTE: <br /> <br />Section 1. The City Council of the City of La Porte hereby <br /> <br />amends the Code of Ordinances of the City of La Porte by adding <br />Article V. "Guidelines and criteria Governing Tax Abatement <br /> <br />Agreements by the City of La Porte", and adding Sections 66-140 <br /> <br />through 66-152 inclusive, as follows, to-wit: <br /> <br />ARTICLE V. GUIDELINES AND CRITERIA <br />GOVERNING TAX ABATEMENT AGREEMENTS <br /> <br />Sec. 66-140. Reinvestment zones. <br /> <br />(a) Tax abatement shall only be allowed in a reinvestment <br />zone. <br /> <br />(b) Reinvestment zones in the city for this purpose will be <br />considered for designation by city council upon the recommendation <br />of the director. The city council may approve the creation of <br />these reinvestment zones on a zone-by-zone basis after a public <br />hearing before the city council. Following the public hearing the <br />city council may consider the ordinance creating a new reinvestment <br />zone in the proposed area. <br /> <br />(c) The city council may not adopt an ordinance designating a <br />reinvestment zone until it has held a public hearing at which <br />interested persons are entitled to speak and present evidence for <br />or against the designation. Notice of the hearing shall be given <br />at least seven days prior to the hearing. The presiding officers <br />of eligible jurisdictions shall be notified in writing at least <br />seven days prior to the hearing. <br /> <br />A notice of the public hearing shall be given to other <br />affected taxing jurisdictions, published in the legal classified <br />section of the local daily newspaper having general circulation, <br />and posted in other places as deemed appropriate, including notice <br />to civic associations in the area surrounding the proposed zone, at <br />least seven days prior to the hearing. The notice shall contain <br />the location, time, and place of the public hearing and a <br />description of the proposed boundaries of the reinvestment zone. <br /> <br />'v <br />