HomeMy WebLinkAboutORD 94-20 ORDINANCE NO. q 11-'-3
ENTITLED AN ORDINANCE EXPANDING THE REINVESTMENT
ZONE BOUNDARIES; ADOPTING PROPOSED PROJECTS AND
FINANCING PLAN; AND PROVIDING FOR SEVERABILITY.
WHEREAS, the City of Beaumont has previously established by ordinance
Reinvestment Zone Number One; and,
WHEREAS, the Board of Directors of the City of Beaumont's Reinvestment Zone
Number One has recommended that the reinvestment zone boundaries be expanded to
include four additional blocks; and,
WHEREAS, the Board of Directors of the City of Beaumont's Reinvestment Zone
Number One recommends the adoption of the proposed Projects and Financing Plan for the
expanded Reinvestment Zone; and,
WHEREAS, the expanded reinvestment zone is expected to further facilitate the
accommodation of the proposed United States Postal Processing Center by increasing
available parking space;
NOW, THEREFORE, BE IT ORDAINED
BY THE CITY OF BEAUMONT
Section 1.
THAT the facts and recitations hereinabove are hereby found and declared to be true
and correct.
Section 2.
THAT the City of Beaumont hereby amends, enlarges and expands the Reinvestment
Zone One created by Ordinance No. 82-132 and exhibits thereto to include four additional
blocks located between Wall Street and College Street from Pearl Street to Trinity Street
as set forth in Exhibit "A," attached hereto.
Section 3.
THAT the City of Beaumont hereby adopts a Projects and Financing Plan for the
Reinvestment Zone One as set forth in Exhibit "B," attached hereto.
Section 4.
THAT if any section, paragraph, clause or provision of this Ordinance shall for any
reason be held to be invalid or unenforceable, the invalidity or unenforceability of such
section, paragraph, clause or provision shall not affect any of the remaining provisions of this
Ordinance.
- MAYOR -
PASSED BY THE CITY COUNCIL of the City of Beaumont, Texas, this 12
day of April, 1994
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CENTRAL REINVESTMENT -WNE
BUSINESS
DISTRICT. BOUNDARIES
Beatmont,Texas ------ ZONE BOUNDARY
�smam m- PROPOSED EXPANSION
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a....� ZONE . BOUNDARIES
EXHIBIT A c-„- T„» Figure 2
FEB '94.
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Table 2
PROPOSED PROJECTS AND FINANCING PLANS E
Funding Time Frame
Proiect Estimated Cost Source (Start/Finishl
1
Land Acquisition $205,000(Est) City Capital January 1994/April 1994
Reserve Fund (1)
P
2 .Demolition $300,000(Est) City Capital June 1994/July 1994
a. Asbestos..Abatement $100,000(Est) Reserve Fund (1) June 1994/July 1994
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3 . Parking Facilities (City)
a. Design $ 10,000(Est) City Capital March 1994/May 1994
b. Construction $250,000(Est) Reserve Fund (1) August 1994/October 1994
4. Traffic Circulation $100,000(Est) City Capital April 1994/June 1994
Improvements Reserve Fund (1)
1) Funds are proposed to be borrowed from the City of Beaumont's Capital Reserve Fund to pay for the
cost of these improvements. The City's Capital Reserve Fund would be reimbursed for these expenditures
over a period of years by annual transfers of tax increment revenue from the Tax Increment Fund back
into the Capital Reserve Fund.
EXHIBIT "B"