HomeMy WebLinkAbout026042 RES - 11/16/2004
RESOLUTION
AMENDING THE GUIDELINES AND CRITERIA FOR GRANTING TAX
ABATEMENT REGARDING RENEWAL COMMUNITY FACILITIES
WHEREAS, in April 2004, the City Council designated the Renewal Community as a
Reinvestment Zone and adopted Guidelines and Criteria for granting tax abatement;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
CORPUS CHRISTI, TEXAS:
SECTION 1. That Section 1.v of the Guidelines and Criteria for Granting Tax
Abatement is amended to read as follows:
"SECTION 1. DEFINITIONS
* * * * *
"v. 'Renewal Community Facility' means a building or structure in the Corpus Christi
Renewal Community which includes Census Tracts 1, 3, 4, 10 and 11 and other census
tracts designated by U.S. Department of Housing and Urban Development to be used
for the creation of a new business or business expansion, but not a relocation of a
business."
SECTION 2. That Section 2(c) of the Guidelines and Criteria for Granting Tax
Abatement is amended to read as follows:
"SECTION 2. ABATEMENT AUTHORIZED
* * * * *
"Eligible Property. Abatement may be extended to the value of the improvements to
real property, including buildings, structures, fixed machinery and equipment, and site
improvements, plus that office space and related fixed improvements necessary to the
operation and administration of the Facility, and Renewal Community facilities."
ATTES~
Armando Chapa
City Secretary
Samuel L.
Mayor
APPROVED: November~, 2004.
By: .1: ~ (;f;~. Lu-,
Lisa Aguilar
Assistant City Attorney
for City Attorney
Nov 16 2004 Renewal Community amd,doc
026042
Corpus Christi, Texas
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The above resolution was passed by the following vote:
Samuel L. Neal, Jr. ~
Brent Chesney [~
Javier D. Colmenero ~J-
Melody Cooper O);~
Henry Garrett ~1
Bill Kelly ~"
Rex A. Kinnison 0uIf-
Jesse Noyola ~,..J-
Mark Scott ~
II 2 R n 4 2