SPECIFIC EXPLANATION:
Reinvestment Zone Number Twelve, City of Houston, Texas (the “Zone”), was created by Ordinance No. 1998-1112, passed and adopted by City Council on December 2, 1998. By Ordinance No. 1999-910, passed and adopted by City Council on August 18, 1999, the City approved the Project Plan and Reinvestment Zone Financing Plan for the Zone (the “Plan”). By Resolution No. 2000-10, passed and adopted on March 22, 2000, City Council authorized the creation of the City Park Redevelopment Authority to administer the Zone and implement the Plan.
On July 28, 2019, the Board of Directors of the Zone approved a proposed First Amendment to the Plan (the “Amended Plan”) and transmitted it for City Council consideration and approval. The Amended Plan, which will be coordinated with a proposed change to the boundaries of the Zone, will provide the tools needed to alleviate unsafe streets, deteriorated site conditions, and obsolete public facilities, and will encourage the sound growth of residential, retail, and commercial development in the greater Timbergrove area. When the Zone was created, the term of the Zone was established at thirty years, to expire on December 31, 2028. The Amended Plan will extend the duration of the Zone for an additional twenty-two years, through December 31, 2050.
Pursuant to Texas Tax Code Sections 311.003, 311.007 and 311.011, a public hearing was held on the Amended Plan on December 2, 2020. Accordingly, the Administration recommends that City Council approve the Amended Plan for the Zone.
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Andrew F. Icken, Chief Development Officer