2016-354S:\Legal\ourdocuments\ordinances\! 6\T1RZ20rdtomatchEDP-TWUrep
\ • !
16-354
ORDINANCEI��c
AN ORDINANCE OF THE CITY OF DENTON, TEXAS, AMENDING ORDINANCE No. 2012-366,
AS BY ORDINANCES 2014-039 AND 2015-370, RELATING TO TAX INCREMENT
REINVESTMENT ZONE (TIRZ) NUMBER TWO, TO ADD TO THE MEMBERSHIP OF THE
BOARD OF DIRECTORS; REPEALLING ALL CONFLICTING ORDINANCES AND PORTIONS
THEREOF; AND
PROVIDING . DATE.
WHEREAS, on December 18, 2012, the City Council of the City of Denton, Texas, (the "City"),
adopted Ordinance 2012-366, which designated and described the boundaries of • Two;
established the duration of the Zone; established a Tax Increment Fund and established a Board of
Directors for the Tax Increment Reinvestment Zone.
WHEREAS, on February 4, 2014, the City Council of the City of Denton, Texas, (the "City"),
• r'-• Ordinance 2014-039, established - • -nt with the Economic Development
P
- - •• -
Board D''P.. ••. • for the Tax IncrementReinvestment - •...- Number Two.
WHEREAS, on December 1, 2015, the City Council of the City of Denton, Texas, (the "City"),
adopted Ordinance 2015-370, which established a TIRZ Number Two board composition that
matches the EDP.
WHEREAS On August 23, 2016, Ordinance No. 2016-249 added one new members to be
appointed to serve on the EDP board, bringing the board membership to twelve.
WHEREAS,
1..it isdeemed • •' • • establish 'NumberTwo board composition
incorporates the c- f •mic Development Partn- • :• • THEREFORE,
SECTION 1: Subsection A and B of Section 4 of Ordinance 2012-366, 2014-039 and 2015-370
de.
are amen
deas follows:
A. The Board of - •rs shall consist of • --members,of •
be appointed • - City Councilof •-rs appointed to the board
consistshall meet the eligibility requirements set forth in the Act. Board membership shall
of f 'f
1. The twelve members of the Economic Development Partnership Board
("EDP"),
2. One member shall be appointed by the governing body of Denton County,
3. One member shall be appointed by the "Developer," Rayzor Investments,
LLP.
B. The terms of the board members shall be two-year terms; the twelve (12) members
appointed by City Council will serve terms concurrent with their EDP terms.
board member
serve no more than three consecutive
SECTION 3: If any section, paragraph, clause or provision of this Ordinance shall for any reason
be held to be invalid or unenforceable, the invalidity or unenforceability of such section, paragraph,
clause or provision shall not affect any of the remaining provisions of this Ordinance.
SECTION 4: This Ordinance shall become effective immediately upon its passage and approval.
PASSED AND APPROVED this I day of November, 2016.
BY:
11 IZ I ATTS, MAYOR
ATTEST:
JENNIFER WALTERS, CITY SECRETARY
9
F-1 a . 02
Ulk! I I F.11 CIO 111161 IMIKS] N yff.Al N K9j 1114011 a
.... . ...