HomeMy WebLinkAboutR2002-016A RESOLUTION OF THE CITY OF DENTON, TEXAS APPROVING THE ELIGIBILITY OF
THE STRUCTURES LOCATED AT 535-A AND 535-B S. LOCUST, DENTON, TEXAS FOR
TAX EXEMPTION FOR HISTORICALLY SIGNIFICANT SITES PURSUANT TO
CHAPTER 10, ARTICLE VII CODE OF ORDINANCES OF THE CITY OF DENTON,
TEXAS; AUTHORIZING CITY MANAGER TO EXECUTE A TAX EXEMPTION
CERTIFICATE; AND DECLARING AN EFFECTIVE DATE.
WHEREAS, the City has a policy to grant a partial tax exemption for historically
significant sites as established by Chapter 10 "Finance and Taxation", Article VII of the Code of
Ordinances of the City of Denton, Texas; and
WHEREAS, the property located at 535-A and 535-B S. Locust, Denton, Texas meets the
requirements of a historically significant site since it is a commercial or residential structure, 50
years old or older, and is within the boundaries of the Downtown Commercial District as defined
in Sec. 10-131 of the Code of Ordinances of the City of Denton, Texas; and
WHEREAS, the owner has met all requirements for eligibility for the tax exemption; and
WHEREAS, the Historical Landmark Commission has unanimously recommended the
approval of the exemption at its meeting ofFebruary 18, 2002; NOW, THEREFORE,
THE CITY COUNCIL OF THE CITY OF DENTON HEREBY RESOLVES:
SECTION 1: That the structures located at 535-A and 535-B S. Locust, Denton, Texas
has met all the requirements of Chapter 10, Article VII of the Code of Ordinances of the City of
Denton, Texas as amended by Ordinance 984 16 and is eligible for the tax exemption for
historically significant sites.
SECTION 2: That the City Manager is hereby authorized to execute a tax exemption
certificate upon verification of completion of repairs and renovation for the property located at
535-A and 535-B S. Locust, Denton, Texas.
SECTION 3: The exemption shall only apply to the historic structure and the land
reasonably necessary for access to, and use thereof, by abating any increase in the assessed value
for ad valorem tax purposes in excess of the assessed value of the property for the tax year
immediately prior to the renovation, for a period of ten years following the completion of the
renovation.
SECTION 4: That this resolution shall become effective immediately upon its passage
and approval.
EUL1NE BROCK, MAYOR
ATTEST:
JENNIFER WALTERS, C~ITY SECRETARY
L. PROUTY, CITY ATTORNEY
F:\shared~dept'~LGL\Our Documents\02~.esolutionsXhistoric structure tax exemption 535 S. Locust.doc