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HomeMy WebLinkAboutRES 82-308 R E S 0 L U T 1 0 N WHEREAS, by resolution of the City Council (the "Governing Body") , of the City of Beaumont, Texas (the "City") , authorized and approved the creation of the Beaumont Industrial Development Corporation (the "Corporation" ) as a nonprofit industrial development corporation under the provisions of the Development Corporation Act of 1979, Article 5190. 6 , Vernon' s Annotated Texas Civil Statutes, as amended (the "Act") ; and WHEREAS., the Corporation is authorized by the Act to issue bonds on behalf of the City for the purpose of paying all or a part of the costs of a "project" as defined in the Act, and to lease or sell the project or to loan the proceeds of the bonds to finance all or part of the costs of a project; and WHEREAS, the definition of "project" in the Act includes the land, buildings , equipment, facilities and improvements (one or more) found by the Board of Directors of the Corporation to be required or suitable for the promotion of commercial development and expansion and in furtherance of the public purposes of the Act, or for use by commercial enterprises, all as defined in the rules of the Texas Industrial Commission (the "Commission" ) , irrespective of whether in existence or required to be acquired or constructed thereafter,, if such project is located in blighted or economically depressed areas; and WHEREAS, as used in the Act, the term "blighted or economically depressed areas" means those areas and areas immediately adjacent thereto within a city which by reason of the presence of a substantial number of substandard, slum, deteriorated, or deteriorating structures, or which suffer from a high relative rate of unemployment, or which have been designated and included in the tax incremental district created under Chapter 695, Acts of the 66th Legislature, Regular Session, 1979 (Article 1066d, Vernon' s Texas Section 10. This Resolution is adopted for the purposes of satisfying the conditions and requirements of the Act and the Rules, and for the benefit of the Corporation, the City, the Commission, the residents of the City and all other interested persons. Section 11. The Governing Body has considered evidence of the posting of notice of this meeting and officially finds, determines, recites and declares that a sufficient written notice of the date, hour and place of this meeting and of the subject of this Resolution was posted on the bulletin board at a place convenient to the public in the City Hall of the City for at least 72 hours preceding the scheduled time of such meeting; such place of posting was readily accessible to the general public at all times from such time of posting until the scheduled time of such meeting; and such meeting was opened to the public as required by law at all times during which this Resolution and the subject matter thereof were discussed, considered and formally acted upon, all as required by the Open Meetings Law, Article 6252-17, Vernon' s Annotated Texas Civil Statutes, as amended. PASSED A.ND APPROVED this day of 1982. 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LIGHT AREA" mom EXHIBIT "A" 7/29/82 a DESCRIPTION OF BOUNDARIES PROPOSED "ELIGIBLE BLIGHTED AREA" BEAUMONT, TEXAS The boundaries of the City of Beaumont's proposed "Eligible Blighted Area" are as follows: _ Starting at the intersection of the centerlines of Interstate Highway 10 South, Hillebrandt Bayou, and the Lower Neches Valley Authority (LNVA) fresh water canal, proceed generally west along the centerline of the LNVA canal to its intersection with the centerline of Texas FM 364 (Major Drive) ; then south along the centerline of Texas FM 364 to its intersection with Beaumont's southern corporate limits line; then east along the corporate limits line to its intersection with the centerline of the Santa Fe Railroad right-of-way, then northeast along the centerline of the Santa Fe right-of-way to the centerline of Hillebrandt Bayou; then generally north along the centerline of Hillebrandt Bayou to the starting point, being the intersections of the centerlines of Hillebrandt Bayou, Interstate Highway 10 South, and the Lower Neches Valley Authority fresh water canal. �„� d� • EXHIBIT "B" 7/29/82 EXHIBIT "C" PROPOSED PUBLIC IMPROVEMENTS IN ELIGIBLE BLIGHTED AREA Commencement of construction of the following public improvements is anticipated within 5 years of the date of this resolution: Estimated Anticipated Cost Source of Funds (1) Acquisition of fire $ 40,000 General Fund station site (2) Resurfacing of Walden $ 300,000 General Revenue Road Sharing (3) Improvements to $6,900,000 Proposed Bond Hillebrandt Bayou (a Issue portion of which is in the proposed EBA) In addition, the Eligible Blighted Area will benefit from proposed improvements to the municipal athletic complex and the Taylor' s Bayou drainage project.