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0 <br />0 <br />"Harris County Tax Increment Participation" means the amount of the Harris County tax <br />contribution to the La Porte Zone pursuant to Section IV of this Agreement. <br />"LaPorte Zone" means Reinvestment Zone Number One, City of La Porte, Texas, created <br />by the City on May 24, 1999 by Ordinance No. 99-2325, and enlarged by Ordinance No. 99-2350, <br />and includes its successors and assigns. <br />"Project Plan" means the project plan and reinvestment zone financing plan for the La Porte <br />Zone adopted by the board of directors of the La Porte Zone and approved by the City Council of <br />the City on August 23, 1999 by City of La Porte Ordinance No.99-2352. <br />"Tax Increment Fund" means the tax increment fund created by the City in the City Treasury <br />for the La Porte Zone. <br />Otherwise, the tenns used herein have the meanings ascribed to them in Chapter 311, Texas <br />Tax Code. <br />III. BACKGROUND <br />On May 24, 1999, the City created the La Porte Zone by adoption of City of La Porte <br />Ordinance No. 99-2325, for the purposes of development and redevelopment in the La Porte Area. <br />On August 9, 1999, the City approved the enlargement of the La Porte Zone by adoption of City of <br />La Porte Ordinance No.99-2350. The Board of Directors of the La Porte Zone initially adopted a <br />project plan and reinvestment zone financing plan, which was approved by the City on August 23, <br />1999 by City of LaPorte Ordinance No.99-2352. The City has agreed to participate in the LaPorte <br />Zone by contributing tax increments produced in the La Porte Zone to the Tax Increment Fund. <br />Harris County now desires to enter into a formal agreement with the La Porte Zone in consideration <br />for the agreements set forth below. <br />3 <br />