The URL can be used to link to this page

Home My WebLink About17418 ORD - 12/29/1982AN ORDINANCE PROVIDING FOR A REINVESTMENT ZONE FOR TAX INCREMENT FINANCING; ESTABLISHING A BOARD OF DIRECTORS FOR SUCH ZONE; AND OTHER MATTERS RELATING THERETO. WHEREAS, the 67th Legislature of the State of Texas passed the Tax Increment Financing Act of 1981 (hereinafter "Act"), codified as Article 1O66e of Vernon's Annotated Texas Statutes, which Act was made effective by the adoption by the voters of the constitutional amendment proposed by S.J.R. No. 8 of the 67th Legislature, First Called Session; WHEREAS, the Act provides for cities to adopt ordinances to designate certain reinvestment zones for tax increment financing in order to promote development or redevelopment of contiguous geographic areas; WHEREAS, a public hearing was held on the 15th day of December, 1982, before this City Council on the adoption of such a reinvestment zone and its benefits to the City and the property within such zone; WHEREAS, notice of said public hearing was published in accordance with the Act, and interested parties were allowed to speak at said hearing for or against the creation of such a zone, its boundaries, and the concept of tax increment financing, and a reasonable opportunity was provided for an owner of property to protest the inclusion of his property in such zone; NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI, TEXAS: SECTION 1. A reinvestment zone pursuant to the Act is hereby created, the boundaries of which zone and the territory to be included being described with ordinary and reasonable certainty in the Exhibit "A" attached hereto and incorporated herein by reference. SECTION 2. The affairs of said reinvestment zone shall be managed by a board of directors which shall be composed in its entirety by persons appointed by the governing body of the City. Said board of directors shall consist of the Mayor and each member of the City Council, a member of the board of trustees of the Corpus Christi Independent School District selected by the board of trustees, a member of the board of regents of the Corpus Christi Junior College District selected by the board of regents, and a member of the commissioners court of Nueces County selected by 17418 SSP 2 8198 MICROFILMED the county commissioners. The term of each director shall be two years; provided however, that the term of any director who is a public official shall not exceed the period for which such director shall be a public official. Each year the governing body of the City shall appoint one member of the board to serve as chairman of the board for a term of one year that begins on January 1 of the following year. The chairman of the board for the one year term beginning January 1, 1983, shall be Luther Jones. The board may elect a vice-chairman and other officers as it sees fit. SECTION 3. The reinvestment zone created by this ordinance shall take effect, in accordance with the Act, on January 1, 1983. The date for termination of the zone shall be July 31, 2004. SECTION 4. The reinvestment zone created by this ordinance shall be named for identification purposes and known as "Reinvestment Zone Number One, City of Corpus Christi, Texas" (hereinafter "Zone"). SECTION 5. There is hereby created and established a "Tax Increment Fund" for the Zone. Said Tax Increment Fund may be divided into such subaccounts as may be authorized subsequent to this ordinance, into which all tax increments as defined under the Act, less any amounts allocated by contract with another taxing unit prior to the final passage of this ordinance, are to be deposited. The Tax Increment Fund and any subaccounts are to be maintained at the depository bank of the City and shall be secured and invested in accordance with and pursuant to all statutory requirements imposed upon the City relative to deposits and investments of local funds. Money shall be disbursed from the Tax Increment Fund only to pay project costs for the Zone or to satisfy the claims of holders of tax increment bonds or notes issued for the Zone. SECTION 6. The City Council, after conducting the public hearing referred to in the preamble hereof and having heard such evidence and testimony, has made the following findings and determinations based upon the evidence and testimony presented: (1) That improvements in the Zone will enhance significantly the value of all the taxable real property in the Zone and will be of general benefit to the City of Corpus Christi. The appreciation rate on existing properties should exceed the city-wide appreciation rate, because of the infrastructure base that these properties will benefit from. The investment climate in the Zone will be enhanced significantly because of the public infrastructure and amenity which will be provided. As a result, new development will occur at a faster rate and at higher values. (2) That the area to be designated substantially impairs or arrests the sound growth of the City, retards the provision of housing accommodations and constitutes an economic and social liability and is a menace to the public health, safety, morals and welfare in its present condition and use by reason of the presence of the following: (a) The presence of a substantial number of substandard, slum, deteriorated or deteriorating structures is a condition which exists in and is reasonably distributed throughout the Zone. (b) Defective or inadequate sidewalk and street layout is predominate in the Zone as evidenced by the lack of curb and gutter improvements in the Corpus Christi Beach area, deleterious street conditions in the downtown area, poor intersection alignments of several thoroughfares, inadequate street widths, and deficient or non—existent sidewalk systems. (c) Faulty lot layout in relation to size, adequacy, accessibility or usefulness is a consistent operational and development constraint in the Zone. (d) Evidence of unsanitary or unsafe conditions is shown by the following factors: aging sewer lines with inadequate capacity due to size or limited pumping capability, undersized storm drainage lines, lack of sidewalks in many areas, numerous vacant lots, and many buildings which are substandard or have major deficiencies in structural integrity, kitchen and bathroom facilities and general maintenance. (e) Examination of the water distribution system, wastewater system, storm drainage, streets and sidewalks and the traffic signal system discloses a widespread condition of deteriorated site and other improvements in the Zone. (f) Defective and unusual conditions of title plague certain properties within the Zone due to the diversity and multiplicity of ownership, often by absentee landowners, in central areas where land assembly is required to accommodate larger scale development. (g) The existence of many of the aforementioned conditions, and particularly the presence of a substantial number of older wood -frame buildings, endangers both life and property by fire, high winds, hurricanes and storm flooding. SECTION 7. If any section, article, paragraph, sentence, clause, phrase or word in this ordinance, or application thereto to any person or circumstances, is held invalid or unconstitutional by a court of competent jurisdiction, such holding shall not affect the validity of the remaining portions of the ordinance; and the City Council hereby declares it would have passed such remaining portions of the ordinance despite such invalidity, which remaining portions shall remain in full force and effect. * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BOUNDARY DESCRIPTION CORPUS CHRISTI REINVESTMENT ZONE NUMBER 1 BEGINNING AT A POINT in the waters of existing Nueces Bay, said point being in line with the East boundary line of the canal commonly referred to as "Canal A South" (the present City limit line) and 200 feet, more or less, North of the existing shore of said Nueces Bay for the POINT OF BEGINNING; THENCE in a Southeasterly direction in line with the Northernmost tip of the land mass commonly referred to as Corpus Christi Beach, a distance of 3,600 feet, more or less, to a point in the waters of Corpus Christi Bay for a corner; THENCE in a Southwesterly direction to a point, the Southeasternmost corner of existing "Cole Park" for a corner; THENCE in a Southwesterly direction along the, existing South boundary line of "Cole Park" and across Ocean Drive to the West right-of-way line of said Ocean Drive for a corner; THENCE in a Northerly direction along said West right-of-way line of Ocean Drive to its intersection with the South right-of-way line of Buford Street; THENCE in a Westerly direction along said South right-of-way line of Buford Street to its intersection with the West right-of-way line of Ocean Drive (extended); THENCE in a Northerly direction along said West right-of-way line of Ocean Drive (extended), across Buford Street and continuing along the West right-of-way line of Ocean Drive to the intersection of the North right-of- way line of Furman Street and West right-of-way line of Water Street for a corner; THENCE continuing in a Northerly direction along the West right-of-way line of Water Street to its intersection with the South boundary line of Lot 2, Shoreline Terrace as shown on Plat of Record in Volume 26, Page 83, Nueces County Nap Records, Nueces County, Texas for a corner; THENCE in a Westerly direction along said South boundary line of Lot 2, Shoreline Terrace and its Westerly extension, to its intersection with the West right-of-way line of South Upper Broadway (extended); THENCE in a Northerly direction with said West right-of-way line of South Upper Broadway (extended), past the North right-of-way line of Coleman Street and continuing along the West right-of-way line of South Upper Broadway to its inter- section with the South right-of-way line of Park Avenue for a corner; THENCE in a Westerly direction along the South right-of-way line of Park Avenue to its intersection with the Southerly extension of the West right-of-way line of South Upper Broadway for a corner; - 2 - THENCE in a Northerly direction along the West right-of-way line of South Upper Broadway (extended), past the North right-of-way line of Park Avenue and continuing along the West right-of-way line of South Upper Broadway and its Northerly extension across the section of freeway commonly known as the "Down- town Exchange" to the intersection of the West right-of-way line of North Upper Broadway and the North right-of-way line of Kinney Street for a corner; THENCE continuing in a Northerly direction along the West right-of-way line of North Upper Broadway to its intersection with the Westerly extension of the North right-ofway line of Twigg Street for a corner; THENCE in an Easterly direction along the North right-of-way line of Twigg Street (extended), to its intersection with the centerline of State Highway 181 for a corner; THENCE in a Northerly direction with the centerline of State Highway 181 and crossing the Corpus Christi Ship Channel to the existing shoreline for a point; THENCE in a Westerly direction with the meanders of said existing shoreline to its intersection with the Southerly extension of the centerline of a street commonly known as Market Street for a corner; THENCE in a Northerly direction with the centerline of said Market Street (extended), to a point on the existing City limit line and continuing with said City limit line to a point on the South boundary line of existing Porto Bello Subdivision for a corner; THENCE continuing with the present City limit line, in a Westerly direction along said South boundary line of existing Porto Bello Subdivision, to a point on its West boundary line, the East line of aforementioned Canal A South for a corner; THENCE continuing with the present City limit line, the East line of said Canal A South, past the existing shoreline of Nueces Bay to the POINT OF BEGINNING. Addendum to Boundary Description A11 boundaries described as shoreline, breakwater, or seawall shall include in addition to the existing land and facilities any and all facilities to be built in the future extending into the waterway. Revised on December 16, 1982 That the foregoing ordinance was read for firs time and qused to its second reading on this the /3-- day of , 1W— , by the following vote: Luther Jones Betty N. Turner Jack K. Dumphy Bob Gulley Herbert L. Hawkins, Jr. Dr. Charles W. Kennedy Cliff Zarsky That the foregoing ordinance was read for )4} a second time and passed to its third reading on this the , g dayof �lOw.rr�a�/1 l94), by the following vote: Luther Jones Betty N. Turner Jack K. Dunphy Bob Gulley Herbert L. Hawkins, Jr. Dr. Charles W. Kennedy Cliff Zarsky That the fore ng oiordinanc: ^.s rea' for the t time and passed finally on this the %' day of , , 19 1 d , by the following vote: Luther Jones Betty N. Turner Jack K. Dumphy Bob Gulley Herbert L. Hawkins, Jr. Dr. Charles W. Kennedy Cliff Zarsky PASSED AND APPROVED, this the ATTEST: f10‘e(4.3 ret , 196y. APP OVED: pp / 'I&+DAY OF , 19 J. BRUCE A COC CITY ATTORNEY tea. By Ass" nt City Attorney MAYOR THE CI, OF CORPUS CHRISTI, TEXAS '1'7418 Councilmember MOTION 4(0Uwrrr7 moved and Councilmember seconded that th'e following ordinance: PROVIDING FOR A REINVESTMENT ZONE FOR TAX INCREMENT FINANCING; ESTABLISHING A BOARD OF DIRECTORS FOR SUCH ZONE; AND OTHER MATTERS RELATING THERETO. be amended prior to its third and final reading to specify in Section 2 that members of the board of directors representing the other taxing entities be members of their respective governing bodies and to expand the findings made in Section 6 to include additional statements relative to the presence of substandard structures, inadequate public improvements, and other unsafe or unsanitary conditions. PASSED 1 NOTICE OF, PASSAGE OF;ORDINANCE-- NO. 17418 ;- ROVIDING FOR A' tEINVESMENT ZONE FOR TAX TINCREMENT FINANCING; ESTABLISH- ING A BOARD OF DIRECTORS FOR SUCH ZONE; AND OTHER MAT- TERS RELATING THERETO. ` - Was passed and approved by the City Council of ,the City of Corpus Christi, Tex- as on the 79th day of December, 1982. The full text of said ordinance Is public In the lableaIOffice of theeCity Secre- tary. -s-BIII G. Read City Secretary Corpus Christi, ,Texas PUBLISHER'S AFFIDAVIT STATE OF TEXAS, h.,: County of nieces. 1J #26421 CITY OF CORPUS CHRISTI Before me, the undersigned. a Notary Public, this day personally came.._....- �.. ANNA GARZA who being first duly sworn. according to law. says that he is the ACCOUNTING CLERK of the Corpus Christi Caller and The Corpus Christi"iiimes, Daily Newspapers published at Corpus Christi, Texas,, in said County and State. and that the publcatio} of NOTICE OF PASSAGE OF ORDINANCE NO 17418 PROVIDING FOR A REINVESTMENT —a CORPUS CHRISTI CALLER -TIMES of which the annexed is a true copy, was published in on tbe3rd .• day of JANUARY 19 8 and once each DAY thereafter for ONE consecutive _ DAY __Times. ANNA GARZA ACCT CLERK Subecribed and sworn to before me this .. 9th FEBRUARY 19 83 EUGENIA S. CORTEZ • lie, Nueees County,