|
It is the policy of Harris County to encourage the redevelopment of areas wherein
<br />the creation and retention of new jobs and investment will benefit the area economy,
<br />provide needed opportunities, strengthen the real estate market and generate tax revenue
<br />to support local services;
<br />The Reinvestment Zone is an area within Harris County, Texas, generally
<br />described as a tract or parcel of land containing 10.115 acres of land, located in the Enoch
<br />Brinson Survey, Abstract 5, Harris County, Texas, being out of and a part of that certain
<br />207.049 acre tract of record in the name of St. Joe Paper Company, filed in the Official
<br />Public Records of Real Property of Harris County, Texas, under Harris County Clerk's
<br />File Number M032856. The Zone is located within the boundaries of a number of taxing
<br />units whose ad valorem taxes are by law approved or levied by the Commissioners Court
<br />of Harris County, to wit: Harris County, the Harris County Flood Control District, the
<br />Port of Houston Authority of Harris County, Texas, and the Harris County Hospital
<br />District;
<br />Preferred Freezer Services Houston Port, LLC (the "Lessee") represents and
<br />warrants that it will create thirty-five (35) permanent full-time employment positions in
<br />the Reinvestment Zone no later than December 31, 2009, and continuing through the
<br />term of this Agreement;
<br />Under Bear, LLC (the "Lessor") and the Lessee each represent and warrant that
<br />they will invest at least $10,400,000 in Improvements, of which $9,900,000 is subject to
<br />abatement calculation, in the facility by December 31, 2008, which will result in an
<br />estimated increase in certified appraised value of at least $9,900,000 by January 1, 2009;
<br />The Commissioners Court further finds that the terms of the tax abatement
<br />agreement with Under Bear, LLC and Preferred Freezer Services Houston Port, LLC and
<br />the property subject to the said agreement satisfies the Guidelines and Criteria for
<br />Granting Tax Abatement in a Reinvestment Zone Created in Harris County, as re -adopted
<br />by Commissioners Court on November 22, 2005, and effective January 1, 2006, and that:
<br />(1) there will be no substantial adverse effect on the provision of the County's tax base or
<br />services, and (2) the planned use of the property will not constitute a hazard to public
<br />safety, health or morals; and
<br />The Commissioners Court of Harris County desires to approve the County's
<br />entering into a tax abatement agreement with Under Bear, LLC and Preferred Freezer
<br />Services Houston Port, LLC, based on the aforesaid representations.
<br />NOW, THEREFORE, BE IT ORDERED BY THE COMMISSIONERS
<br />COURT OF HARRIS COUNTY, TEXAS THAT:
<br />Section 1. The recitals set forth in this order are true and correct.
<br />
|