1998-08-10 Regular Meeting and Workshop of City Council

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I I I I I I I I I I I I I - IIII!I - - - e 'e AKIN, GUMP. STRAUSS. HAUER & FELD. L.L.P. Mr. Robert Herrera August S, 1998 Page 2 A "regular TIF" could be created by the City if the area meets at least one of the following criteria: 1. The area's present condition substantially impairs the City's growth, retards the provision of, or constitutes ~ economic or social liability to the public health, safety, or moral welfare; 2. The area is predominantly open and because of obsolete platting, deteriorating structures, or other factors, it substantially impairs the growth of the City; or 3. The area is in or adjacent to a "federally assisted new community." In addition, the following other general restrictions would apply: 1. No more than 10% of the property in the zone may be used for residential purposes. 2. The zone may not contain property that cumulatively would exceed 15% of the total appraised value within the City and its industrial districts. 3. The zone cannot contain more than 15% of the total appraised value of real property taxable by a county or school district. The above restrictions do not apply to the Zone since it must be created pursuant to a petition. Some of the requirements for the Zone are as follows: 1. The City Council must specify in the ordinance that the Zone is designated under Section 311.005(a)(5). 2. The board of directors of the Zone must consist of nine members. Each school district or county that levies taxes on real property in the Zone may appoint one member of the board if the school district or county has agreed to participate in the Zone. The member of the state senate in the district in which the Zone is located is a member of the board, and the member of the state house of representatives in the district in which the Zone is located is a member of the board (either the senator or the representative may designate another individual to serve at his pleasure). The remaining members of the board are appointed by the City Council and such individuals must be at least 18 years of age and own property in the Zone or be an employee or agent of a person who owns property in the Zone. 3. The board of the Zone may exercise power granted in Section 211, Texas Local Government Code, to restrict the use or uses of property in the Zone. 4. Section 311.0101(a) requires that disadvantaged businesses in the Zone must be given full and complete access to the procurement whereby supplies, materials, services, and equipment are acquired by the board to the extent constitutional. The pennissible preference would be given to such disadvantaged businesses.