R-2440-9-05RESOLUTION NO. 2440-9-05(R)
' A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ALLEN, COLLIN
COUNTY, TEXAS, CALLING A PUBLIC HEARING FOR DECEMBER 13, 2005, TO
CONSIDER THE ESTABLISHMENT OF TAX INCREMENT FINANCING ZONE NO. 1;
AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City Council has been presented with a petition by the owners of approximately 94 acres of land
in the City of Allen, Collin County, Texas, located at the southwest comer ofUS 75 and Bethany Drive requesting
that such contiguous area be designated as a reinvestment zone for tax increment financing; and,
WHEREAS, the Tax Increment Financing Act, Chapter 311, Texas Tax Code, requires the City Council to
conduct a public hearing on the designation of such property as a reinvestment zone for tax increment financing
and the creation of Tax Increment Financing Zone No. 1; and,
WHEREAS, the City will provide seven days prior notice of the public hearing by publication in a newspaper of
general circulation; and,
WHEREAS, the City has or will notify the governing body of each taxing unit that levies real property taxes in
proposed Tax Increment Financing Zone No. 1 that the City intends to establish Tax Increment Financing Zone
No. 1; and,
WHEREAS, the notice to the governing body of each taxing unit that levies real property taxes in the proposed
Tax Increment Financing Zone No. I has or will include adescription of the proposed boundaries of Tax Increment
' Financing Zone No. 1, the tentative plans for development, and the estimated impact on property values and the tax
revenue; and,
WHEREAS, the City has or intends to prepare a preliminary project and investment zone financing plans for
proposed Tax Increment Financing Zone No. 1 and has or will send a copy to each taxing unit that levies real
property taxes in proposed Tax Increment Financing Zone No. 1.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ALLEN,
COLLIN COUNTY, TEXAS, THAT:
SECTION 1. The City Council shall conduct a public hearing on December 13, 2005, on the creation of Tax
Increment Financing Zone No. 1.
SECTION 2. The City Manager is directed to provide the requisite notices for the creation of Tax Increment
Financing Zone No. I in accordance with Chapter 311, Texas Tax Code.
SECTION 3. The City Manager and/or designated representative is authorized to make the formal presentations
to County of Collin, Texas, the Collin County Community College District, and the Allen Independent School
District governing bodies pursuant to Texas Tax Code, Section 311.003(f), and to undertake all other preliminary
preparations and actions in accordance with the Act.
SECTION 4. This resolution shall take effect immediately from and after its passage in accordance with the
provisions of the Charter of the City of Allen, and it is accordingly so resolved.
DULY PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF ALLEN, COLLIN
COUNTY, TEXAS, ON THIS THE 27ru DAY OF SEPTEMBER, 2005.
APPROVED:
AQ-f--1ZD
Stephen Terrell, MAYOR
ATTEST:
Shelley B. Geo—rge, TRMC, CITV SECRETARY
Resolution No. 2440-9-05(R), Page 2