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<br />reasonably likely as a result of the designation as a reinvestment zone, to contribute to the <br /> <br />retention or expansion of primary emploYment or to attract major investments in the zone that <br /> <br />would be a benefit to the property and that would contribute to the economic development of the <br /> <br />City of La Porte. The City Council of the City of La Porte further finds, determines and declares <br /> <br />that the improvements sought are feasible and practical and would be a benefit to the land to be <br /> <br />included in the zone and to the City of La Porte after the expiration of an agreement into under <br /> <br />Section 312.204, Texas Tax Code. <br />Section 3. Accordingly, there is hereby established and designated a reinvestment zone <br /> <br />in the City of La Porte to be know as the La Porte Reinvestment Zone "B" - "Packwell, Inc.", for <br /> <br />commercial/industrial tax abatement, legally described by metes and bounds on Exhibit "E", and <br /> <br />as more particularly shown on the location map attached hereto as Exhibit "F", Proposed La <br /> <br />Porte Reinvestment Zone "B" - "Packwell, Inc.", reference to which is here made for all <br /> <br />purposes. This designation shall be effective for five (5) years from the effective date of this <br />Ordinance. <br />Section 4. This Ordinance shall serve as notice of the establishment of the La Porte <br /> <br />Reinvestment Zone "B" by the City of La Porte, to every taxing unit that includes inside its <br /> <br /> <br />boundaries property that is located within the boundaries of the Zone, and the City Secretary is <br /> <br /> <br />hereby directed to send certified copies of this ordinance to all such affected taxing units. <br /> <br /> <br />Section 5. The City Council officially finds, determines, recites, and declares that a <br /> <br /> <br />sufficient written notice of the date, hour, place and subject of this meeting of the City Council <br /> <br /> <br />was posted at a place convenient to the public at the City Hall of the City for the time required by <br /> <br />law preceding this meeting, as required by the Open Meetings Law, Chapter 551, Texas <br /> <br />Government Code; and that this meeting has been open to the public as required by law at all <br />