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HomeMy WebLinkAbout24-2390ORDINANCE NO. 24-2390 AN ORDINANCE OF THE CITY OF DENTON, TEXAS APPROVING AN AMENDED PROJECT AND FINANCING PLAN FOR TAX INCREMENT REINVESTMENT ZONE NUMBER ONE, CITY OF DENTON, TEXAS; MAKING VARIOUS FINDINGS RELATED TO SUCH PLAN; PROVIDING FOR SEVERABILITY; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, on December 7, 2010, the City Council of the City of Denton, Texas, pursuant to Chapter 311 of the Texas Tax Code, approved Ordinance No. 2010-3 16 designating a contiguous geographic area (the “Original Boundaries”) within the City as a Reinvestment Zone Number One, City of Denton, Texas (the “Zone”); and WHEREAS, on March 25, 2011, the Board of Directors of the Zone (the “Board”) voted to approve the initial Project Plan and Financing Plan for the Zone; and WHEREAS, on August 16, 2011, by Ordinance No. 2011-128, the City Council adopted the Project and Financing Plan for the Zone, as required by Section 3 11.011 (a) of the Act; and WHEREAS, on August 5, 2014, by Ordinance No. 2014-221, the City Council adopted an amendment to the Project Plan for the Zone; and WHEREAS, on December 3, 2024, the City Council of the City of Denton, Texas, pursuant to Chapter 3 11 of the Texas Tax Code, approved Ordinance No. 24-2389, expanding the boundaries and extending the term of the Zone; and WHEREAS, as authorized by Section 311.011(e), and 311.008, of the Act, on December 4, 2024, the Board recommended that the Amended Project Plan for the Zone, a copy of which is attached hereto as Exhibit “A” (the “Plan”), be approved by the City Council; NOW THEREFORE, THE CITY COUNCIL OF THE CITY OF DENTON, HEREBY ORDAINS: SECTION 1. RECITALS INCORPORATED. The facts and recitations contained in the preamble of this Ordinance are hereby found and declared to be true and correct and are incorporated herein by reference. SECTION 2. FINDINGS. The City Council hereby makes the following findings of fact: 1.That the Plan includes all information required by Sections 311.011 (b) and (c) of the Act 11.That the Plan is feasible and the conforms to the City’s master plan. SECTION 3.APPROVAL OF PLAN. Based on the findings set forth in Section 2 of this Ordinance, the Plan, which is attached hereto and incorporated herein by reference as Exhibit A, is hereby approved. SECTION 4. SEVERABILITY CLAUSE. Should any section, subsection, sentence, clause or phrase of this Ordinance be declared unconstitutional or invalid by a court of competent jurisdiction, it is expressly provided that any and all remaining portions of this Ordinance shall remain in full force and effect. The City hereby declares that it would have passed this Ordinance, and each section, subsection, clause or phrase thereof irrespective of the fact that any one or more sections, subsections, sentences, clauses and phrases be declared unconstitutional or invalid. SECTION 5. OPEN MEETINGS. It is hereby found, determined, and declared that sufficient written notice of the date, hour, place and subject of the meeting of the City Council at which this Ordinance was adopted was posted at a place convenient and readily accessible at all times to the general public at the City Hall of the City for the time required by law preceding its meeting, as required by Chapter 551 of the Texas Government Code, and that this meeting has been open to the public as required by law at all times during which this Ordinance and the subject matter hereof has been discussed, considered and formally acted upon. The City Council further ratifies, approves and confirms such written notice and the contents and posting thereof. SECTION 6. EFFECTIVE DATE This Ordinance shall take effect immediately upon its adoption and publication in accordance with and as provided by law. The motion to approve this ordinance was made by Jill Jester and seconded by Brandon Chas McGee. The ordinance was passed and approved by the following vote [ 6 - 1 ] : Aye Nay Abstain Absent Mayor Gerard Hudspeth:X X X X X X Vicki Byrd, District 1 : Brian Beck, District 2: Paul Meltzer. District 3 :X Joe Holland. District 4: Brandon Chase McGee, At Large Place 5 : Jill Jester, At Large Place 6: + PASSED AND APPROVED this the 17th day of December, 2024. GERARD HUDSPETH, MAYOR ATTEST: LAUREN THODEN, CITY SECRETARY b\\\\\ III IIII APPROVED AS TO LEGAL FORM: MACK REINWAND, CITY ATTORNEY EXHIBIT A Project and Financing Plan Z Sa CSZaZ<Z IT aZ<bC)Ul=n0acaaLUaZ LaE< >nc<2 EJ La aca qF eN0 eN acLU onELU C)LUa q 6- BeB_8 BJ FIItN aEF a 10a hDC T)C 10Ca laa 10 T)q)gala4)laea) E < >1 FuCtIa x-I HE a)C0N +1C a) E +1 C/) a)>C a) nc +1C a) E a) b=.OC X bg C/) CDX he a Lb-0 >,+1l•=••Hl• +1 (0 C a) nb O g 2 ) ! ! I! ! ! ! rlItN acF a 10E heC T)C caaiT lae CD i) ga laa)laCa) E < >1 rDC EIa LU q: o 88 f> 8 tg f : • g ; b- ECO cao FI a La 00 :i. :i R C/) Ca)E0 C) b a)a FaI a+i f)' q U)aC B0 ainCa qBC 8 Eg) 3C) V) g CDC < iD LE Fn 10 1: ToBC 10CiT E4) Eela ga aa g IE UlCa H=laCaG) laC 10Ul g P aa t> la3 9 E >1 FaIDe3 aS byF th 7)a C> i)ga <X hBa glal < • acIn E 3 ff;ala ga) LI }- IS DIOn 0% To ISPOOMN = ; 15 p'UMtO N R ptQl+el3 g IS-ljdl'I'':UN u &4 $ 1c+f J + b 1 d s t ! I IS pO' IPA b i a Jtc cd +b6. 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