G-96-03-14-9C - 3/14/1996ORDINANCE NO. L7 - 010 -03- /
AN ORDINANCE DESIGNATING 110.139 ACRE TRACT OF LAND OUT
OF THE DAVID CURRY SURVEY, ABSTRACT 130, ROUND ROCK,
WILLIAMSON COUNTY, TEXAS, AS REINVESTMENT ZONE NO. 16
FOR COMMERCIAL/INDUSTRIAL TAX ABATEMENT, CITY OF ROUND
ROCK, TEXAS, ESTABLISHING THE BOUNDARIES THEREOF AND
OTHER MATTERS RELATING THERETO.
WHEREAS, the City Council of the City of Round Rock, Texas
(the "City"), desires to promote the development or redevelopment
of a certain contiguous geographic area within its jurisdiction
by the creation of a reinvestment zone for commercial/industrial
tax abatement, as authorized by Chapter 312, Tax Code, V.A.T.S.
(the "Code"); and
WHEREAS, the City Council called a public hearing for 7:00
P.M. on the 14th day of March, 1996, to consider establishment of
a reinvestment zone, such date being seven (7) days after the date
of publication of the notice of such public hearing and the
notification of other taxing jurisdictions as required by the
Code; and
WHEREAS, the City at such hearing invited any interested
persons to appear and contend for or against the creation of the
reinvestment zone, the boundaries of the proposed reinvestment
zone,
whether all or part of the territory described in the
Ordinance calling such hearing should be included in such proposed
reinvestment zone, the concept of tax abatement; and
WHEREAS, the proponents of the reinvestment zone offered
evidence, both oral and documentary, in favor of all of the
foregoing matters relating to the creation of the reinvestment
Ca\WPDOCS\ORDINANC\OR60314C. WPD/kg
zone,
and no opponents of the reinvestment zone appeared to
contest creation of the reinvestment zone; Now Therefore
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF ROUND ROCK,
TEXAS, THAT:
I.
The facts and recitations contained in the preamble of this
Ordinance are hereby found and declared to be true and correct.
II.
The City Council, after conducting such hearings and having
heard such evidence and testimony, has made the following findings
and determinations based on the testimony presented to it:
(a) That a public hearing on the adoption of the
reinvestment zone has been properly called, held, and
conducted and that notices of such hearing have been
published as required by law and mailed to all taxing
units overlapping the territory inside the proposed
reinvestment zone;
(b) That the boundaries of the reinvestment zone should be
the area as described in Exhibit A;
(c) That creation of the reinvestment zone for
commercial/industrial tax abatement with boundaries as
described above will result in benefits to the City and
to the land included in the zone and the improvements
sought are feasible and practical;
(d) That the reinvestment zone as defined above meets the
criteria for the creation of a reinvestment zone as set
forth in Section 312.202 of the Code in that it is
reasonably likely as a result of the designation to
contribute to the retention or expansion of primary
employment or to attract major investment in the zone
that would be a benefit to the property and that would
contribute to the economic development of the City; and
(e) That the reinvestment zone as defined above meets the
criteria for the creation of a reinvestment zone as set
forth in the City of Round Rock criteria and guidelines
adopted by Ordinance No. G -95-09-14-9P on September
14th, 1995.
2.
Pursuant to Section 312.201 of the Tax Code, V.A.T.S., the
City hereby creates a reinvestment zone for commercial/industrial
tax abatement encompassing only the area described in Exhibit "A"
and such reinvestment zone is hereby designated as Reinvestment
Zone No. 16, City of Round Rock, Texas.
IV.
A. All ordinances, parts of ordinances, or resolutions.in
conflict herewith are expressly repealed.
B. The invalidity of any section or provision of this
ordinance shall not invalidate other sections or provisions
thereof.
Alternative 1.
By motion duly made, seconded and passed with an affirmative
vote of all the Council members present, the requirement for
reading this ordinance on two separate days was dispensed with.
READ, PASSED, and ADOPTED on first reading this / 41 day of
1996.
Alternative 2.
READ and APPROVED on first reading this the day of
, 1996.
READ, APPROVED and ADOPTED on second reading this the
day of , 1996.
ST:
1140
E LAND, City ecretary
3.
CHARLES CUL `It, Mayor
City of Round ck, Texas
Chi5h Im Trail
Interstate Highway 35
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Date: March 12, 1996
Subject: City Council Meeting March 14, 1996
Item: 9.C. Consider an ordinance designating a 110.139 acre tract of
land out of the David Curry Survey, Abstract 130 as
Reinvestment Zone No. 16. (Cypress Semiconductor)
(First Reading)
Staff Resource Person: Joe Vining
Staff Recommendation: Approval
This is the site of Phase I of the wafer fabrication and office facility for Cypress
Semiconductor. This reinvestment zone will facilitate the first phase of the
construction project (200,000 square feet) that will include wafer
manufacturing, clean room, wafer sort, facility support and office facilities.
ECONOMIC IMPACT:
None as a result of the creation of this
reinvestment zone. The impact will be realized
with the tax abatement agreement that will be
presented at the March 28 meeting.