HomeMy WebLinkAboutOrd 801-2019 Terminating Tax Increment Reinvestment Zone #1 (TIRZ) Villages of Hurricane CreekCITY OF ANNA
ORDINANCE NO. 3 b - aQiq
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF ANNA, TEXAS,
TERMINATING TAX INCREMENT REINVESTMENT DISTRICT NUMBER ONE,
CITY OF ANNA, TEXAS; PROVIDING FOR OTHER MATTERS RELATED
THERETO; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, pursuant to Ordinance No. 708-2015, the City of Anna, Texas (the "City"),
created Tax Increment Reinvestment District Number One, City of Anna, Texas ("TIRZ No. 1 ");
WHEREAS, Ordinance No. 708-2015 provides that TIRZ No. 1 may be terminated in the
event there has been insufficient private investment in TIRZ No. 1 or for other good cause;
WHEREAS, this City Council hereby finds and determines that there has been
insufficient private investment In TIRZ No. 1, there has been no tax increments collected in
TIRZ No. 1, there are no outstanding obligations of TIRZ No.1 and there have been no project
costs incurred by the TIRZ No. 1;
WHEREAS, this City Council hereby further finds and determines that the continued
existence of TIRZ No. 1 will not promote the development and redevelopment of the property
within TIRZ No. 1 and that it is in the best interests of the City and to enable the development
and redevelopment of such property to terminate TIRZ No. 1; and
WHEREAS, it is hereby officially found and determined that the meeting at which this
ordinance is adopted was open to the public, and public notice of the time, place and purpose of
said meeting was given, all as required by Chapter 551, Government Code;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF ANNA, TEXAS:
Section 1. The recitals set forth in the preamble hereof are incorporated herein and
shall have the same force and effect as if set forth in this Section.
Section 2. Tax Increment Reinvestment District Number One, City of Anna, Texas,
is hereby terminated and shall no longer be in force or effect.
Section 3. This Ordinance shall be effective immediately upon its adoption by the
City Council.
PASSED, APPROVED AND EFFECTIVE this February 12, 2019.
ATTESTED:
Carrie L. Smith, City Secretary Nate Pike, Mayor
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City of Anna, Texas
[CITY SEAL]
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