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<br />. <br /> <br />. <br /> <br />ORDINANCE NO. 2005-~td) <br /> <br />AN ORDINANCE AMENDING THE CODE OF ORDINANCES OF THE CITY OF LA <br />PORTE BY REPEALING ARTICLE V GUIDELINES AND CRITERIA GOVERNING TAX <br />ABATEMENT AGREEMENTS BY THE CITY OF LA PORTE, SECTIONS 66-140 <br />THROUGH 66-152 AND ADDING ARTICLE V GUIDELINES AND CRITERIA <br />GOVERNING TAX ABATEMENT AGREEMENTS BY THE CITY OF LA PORTE, <br />SECTIONS 66-140 THROUGH 66-151 INCLUSIVE; FINDING COMPLIANCE WITH THE <br />OPEN MEETINGS LAW; AND PROVIDING 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 amends the Code of <br /> <br />Ordinances of the City of La Porte by repealing Article V. "Guidelines and Criteria Governing <br /> <br />Tax Abatement Agreements by the City of La Porte", Sections 66-140 through 66-152 and <br /> <br />adding Article V. "Guidelines and Criteria Governing Tax Abatement Agreements by the City of <br /> <br />La Porte", Sections 66-140 through 66-151 inclusive, as follows, to-wit: <br /> <br />ARTICLE V. GUIDELINES AND CRITERIA <br />GOVERNING TAX ABATEMENT AGREEMENTS <br /> <br />Section 66-140. REDEVELOPMENT TAX ABATEMENT AUTHORIZED. <br /> <br />(1) Creation of Reinvestment Zones. <br /> <br />(a) A property tax abatement program is hereby created to be administered in accordance with <br />V.T.C.A., Tax Code Ch. 312, as amended from time to time. Tax abatement shall only be allowed <br />in a reinvestment zone. <br /> <br />(b) Reinvestment zones in the city for this purpose will be considered for designation by city <br />council upon the recommendation of the City Manager's Office. The city council may approve the <br />creation of these reinvestment zones on a zone-by-zone basis after a public hearing before the city <br />council. Following the public hearing the city council may consider the ordinance creating a new <br />reinvestment zone in the proposed area. <br /> <br />( c) The city council may not adopt an ordinance designating a reinvestment zone until it has held <br />a public hearing at which interested persons are entitled to speak and present evidence for or against <br />the designation. Notice of the hearing shall be given at least seven days prior to the hearing. The <br />presiding officers of eligible jurisdictions shall be notified in writing at least seven days prior to the <br />hearing. <br /> <br />A notice of the public hearing shall be given to other affected taxing jurisdictions, published <br />in the legal classified section of the local daily newspaper having general circulation, and posted in <br />other places as deemed appropriate, including notice to civic associations in the area surrounding <br /> <br />- I - <br />