Ord 2024-4035_Expansion of TIRZ 1

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WHEREAS, pursuant to Texas Tax Code Section 311.007(a), the City Council may, by ordinance, expand a reinvestment zone's boundaries beyond those originally established for a zone; and WHEREAS, the City Council finds that the Expanded Area meets the requirements of Section 311.005 of the Texas Tax Code because the area to be added substantially impairs and arrests the sound growth of the City; retards the provision of housing accommodations; constitutes an economic and social liability and is a menace to the public health, safety, morals and welfare in its present condition and use because of the presence of a substantial number of substandard, slum deteriorated or deteriorating structures, unsanitary or unsafe conditions, the deterioration of site and other improvements, and conditions that endanger life or property by fire or other cause; and WHEREAS, in accordance with Texas Tax Code Section 31 L006(a)(1) less than thirty percent (30%) of the property with the Expanded Area, excluding property dedicated to public use, is used for residential purposes; and WHEREAS, in accordance with Texas Tax Code Section 311.006(a)(2)(B), the total appraised value of taxable real property within the Expanded Area and in any other existing reinvestment zones does not exceed fifty percent (50%) of the total appraised value of taxable real property within the City and in the industrial districts created by the City; and WHEREAS, the City Council finds that notwithstanding the enlargement of the Zone boundary to include the Expanded Area, the Zone continues to meet the requirements of Section 311.006 of the Texas Tax Code; and WHEREAS, Texas Tax Code Section 311.003(c) provides that the City publish notice of a public hearing not later than the seventh (7th) day before the date of the public hearing in a newspaper having general circulation in the municipality; and WHEREAS, the City Council, pursuant to Texas Tax Code Sections 311.003 and 311.011, after public notice thereof was given in a newspaper of general circulation of the City, conducted a public hearing on December 9, 2024, at which property owners and other interested persons were allowed to speak, and find that the amendments herein do not violate the limitations in Section 311.006(a) of the Texas Tax Code and are eligible for adoption under said Code. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LA PORTE, TEXAS THAT: Section 1. Findings. The findings and recitals contained in the preamble of this Ordinance are hereby found and declared to be true and correct and are adopted as part of this Ordinance for all purposes. Section 2. Expansion of the Zone. That the boundaries of Reinvestment Zone Number One, City of La Porte, Texas, is hereby expanded by 323.336 acres, to include projects and properties that support redevelopment, designated by map illustration attached hereto as Exhibit "A" and incorporated for all purposes, and more specifically defined by survey metes and bounds description attached as Exhibit "B" and incorporated for all purposes. Section 3. Approval of the Fourth Amendment. The Fourth Amendment, attached hereto m