1998-09-28 Regular Meeting and Public Hearing

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