2006-04-24 Regular Meeting, Public Hearing and Workshop Meeting

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reasonably likely as a result of the designation as a reinvestment zone, to contribute to the retention or expansion of primary employment or to attract major investments in the zone that would be a benefit to the property and that would contribute to the economic development of the City of La Porte. The City Council of the City of La Porte further finds, determines and declares that the improvements sought are feasible and practical and would be a benefit to the land to be included in the zone and to the City of La Porte after the expiration of an agreement into under Section 312.204, Texas Tax Code. Section 3. Accordingly, there is hereby established and designated a reinvestment zone in the City of La Porte to be know as the La Porte Reinvestment Zone `B" — "Packwell, Inc.", for commercial/industrial tax abatement, legally described by metes and bounds on Exhibit "E", and as more particularly shown on the location map attached hereto as Exhibit "F", Proposed La Porte Reinvestment Zone `B" — "Packwell, Inc.", reference to which is here made for all purposes. This designation shall be effective for five (5) years from the effective date of this Ordinance. Section 4. This Ordinance shall serve as notice of the establishment of the La Porte Reinvestment Zone `B" by the City of La Porte, to every taxing unit that includes inside its boundaries property that is located within the boundaries of the Zone, and the City Secretary is hereby directed to send certified copies of this ordinance to all such affected taxing units. Section 5. The City Council officially finds, determines, recites, and declares that a sufficient written notice of the date, hour, place and subject of this meeting of the City Council was posted at a place convenient to the public at the City Hall of the City for the time required by law preceding this meeting, as required by the Open Meetings Law, Chapter 551, Texas Government Code; and that this meeting has been open to the public as required by law at all