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<br />ORDINANCE N0. 1672
<br />Page ?.
<br />Texas Property Redevelopment and Tex Abatement Act, V.A.T.S. Tax
<br />Code, Chapter 312, and that all conditions prerequisite I:o the
<br />designation of such reinvestment zone have been accompli~~l~ied.
<br />Section 3. Specifically, and without .limiting the ge~lerality of
<br />the foregoing, the City Council of the City of La Porte finds,
<br />determines and declares that the subject property would l,e
<br />reasonably likely as a result of- the designation as a reinvestment:
<br />zone, to contribute to the retention or expansion of primary
<br />employment or to attract major investments in the zone that would 1~,~
<br />a benefit to the property and that would contribute to the economic
<br />development of the City of La Porte. The City Council of the City
<br />of La Porte further finds, determines and declares that tl~e
<br />improvements sought are Feasible and practical and would k,e a
<br />benefit to the land to be included in L-he zone and to l-he City of f,:t
<br />Porte after the expiration of an agreement entered into under.
<br />Section 312.204, Texas Tax Code.
<br />Section 4. Accordingly, there is hereby established and
<br />designated a reinvestment zone in the City of La Porte I.o be known
<br />as the International Cargo Network Reinvestment Zone, lec]ally
<br />described as Follows, to-wit:
<br />A11 of Blocks 416, 4.17, 418, 419, 433, 434, 435, 43?., 980;
<br />Lots 1 thru 16, Block 438; Lots ]. thru 16, Block 41 a; Gots
<br />1 thru ].6, Block 420, all in Town of La Porte, a sul;cii.vision
<br />in Harris County, Texas according to the map or plat. thereof:
<br />recorded in Volume ]., Page 2, of the unrecorded Map Records cif
<br />Harris County, Texas, and recorded i.n Volume 83, Pa~]e 345 of
<br />the Deed Records of ilarris County, `T'exas,
<br />and as more particularly shown on the plat attached hereto as
<br />"Exhibit "B" Proposed Reinvestment 'Lone," reference to which is h~'r,'
<br />made Eor all purposes.
<br />Section 5. The City Council of the City of La Porte, in
<br />exercise of its discretion as authorized by Section 312..002, Tax
<br />Code, as amended by Senate Bill No. 1312, 71st Legislal-~.~re, and as
<br />otherwise authorized by Chapter 31?., Texas Tax Code, e].ec:ts not t:o
<br />enter into a specific tax abatement agreement with T.ntc~rr~ational
<br />•
<br />Cargo Network, for abatement of City of- La Porte ad valorem taxes.
<br />This reinvestment zone is so designated for the benefit of the T.a
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