HomeMy WebLinkAbout021421 RES - 07/07/1992•
A RESOLUTION
WHEREAS, the City of Corpus Christi has long recognized the
importance of the industries lying immediately outside the city limits
and the importance of protecting the industries' continued viability for
both continuance and expansion; and
WHEREAS, the City in 1981 established industrial district
contracts with those industries to protect the viability of these
industries and to provide a transitional phase toward parity with regard
to payment of City taxes; and
WHEREAS, those industrial district contracts have been
extended and renewed twice since 1981; and
WHEREAS, during the negotiations for the last extension during
1989 the industry representatives stated that they would negotiate
toward parity during the next negotiations; and
WHEREAS, negotiations for the next extension have begun and
the City Manager has proposed contract modifications which have been
presented to the City Council.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF CORPUS CHRISTI, TEXAS:
SECTION 1. The City Council supports the renewal and
extension of the industrial district agreements for a period of seven
(7) years retroactive to January 1, 1992, with the inclusion of two
changes as follows:
a. The payment in lieu of taxes formula be increased from a
maximum of fifty (50) percent of assessed improvement value to
a maximum of seventy-five (75) percent of assessed improvement
value.
b. Increase the phase-in from five (5) percent per year of
assessed value of new improvements to fifteen (15) percent per
year of assessed value.
SECTION 2. That the City Manager is herein instructed to fast
track the finalization of the industrial district extensions as
expeditiously as possible.
ATTEST:
APPROVED: pZ DAY OF
3-41
JAMES R. BRAY,,,JR. , CITY ATTORNEY
By
City At([jorney
Misc.Ord.012.skp
MAYOR
THE C OF CORPUS CHRISTI
02142!.
MICROFILMED
Corpus Christi, Texas
day of
The above resolution was passed by the following vote:
Mary Rhodes
Cezar Galindo
Leo Guerrero
Betty Jean Longoria
Edward A. Martin
Joe McComb
Dr. David McNichols
Clif Moss
Mary Pat Slavik
066
021421
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