HomeMy WebLinkAbout2010-01- TIRZ #3 RESOLUTION NO. 2010-01 TIRZ#3
A RESOLUTION APPROVING THE PROJECT AND
FINANCING PLAN FOR TAX INCREMENT REINVESTMENT
ZONE NUMBER THREE, CITY OF EULESS, TEXAS —GLADE
PARKS
WHEREAS, as authorized by Chapter 311 of the Texas Tax Code (the "Act") and
pursuant to Ordinance No. 1892, adopted by the City Council of the City of Euless, Texas (the
"City") on November 9, 2010, the City created Tax Increment Reinvestment Zone Number
Three, City of Euless, Texas—Glade Parks, (the "Zone"); and
WHEREAS, pursuant to Ordinance No. 1892 the City created the Board of Directors for
the Zone; and
WHEREAS, the Board of Directors shall make recommendations to the City Council
concerning the administration, management and operation of the Zone; and
WHEREAS, the Board of Directors shall prepare and adopt a project and financing plan
and submit such plan to the City Council for is approval; and
WHEREAS, the Board has been provided a presentation on the preliminary project and
financing plan; and
WHEREAS, the Board finds that the preliminary project and financing plan is feasible
• and encourages further development within the Zone; and
WHEREAS, the Board finds that the preliminary project and financing plan includes all
information required by Section 311.001(b) and (c) of the Act;
NOW THEREFORE, BE IT RESOLVED BY THE TAX INCREMENT REINVESTMENT
ZONE NUMBER THREE, CITY OF EULESS, TEXAS — GLADE PARKS BOARD OF
DIRECTORS, THAT:
Section 1. The project and financing plan for Tax Increment Reinvestment Zone
Number Three, City of Euless, Texas—Glade Parks is hereby approved.
Section 2. The Chairperson of the Board is authorized to sign this resolution on the
Board's behalf.
Section 3. This resolution shall take effect upon immediately from and after its passage.
APPROVED at a meeting of the Tax Increment Reinvestment Zone Number 3, City of
Euless, Texas—Glade Parks Board of Directors on the 22nd day of November 2010 by a vote of
6 ayes, 0 nays, and 0 abstentions.
APPROVED: ATTEST:
!i i
Ma b ' aleh, Chair -Man Crim, •ity Secretary