SUBJECT: Motion establishing a public hearing date on September 30, 2015 for the second amendment to the Project Plan and Reinvestment Zone Financing Plan for Reinvestment Zone Number Nine (South Post Oak Zone).
RECOMMENDATION: (Summary)
To establish a public hearing date on September 30, 2015 regarding the second amendment to the Project Plan and Reinvestment Zone Financing Plan for Reinvestment Zone Number Nine (South Post Oak).
SPECIFIC EXPLANATION:
On December 17, 2014, Board of Directors of the South Post Oak Redevelopment Authority and the Board of Directors of the Reinvestment Zone Number Nine (“Zone”) supported amendments to the Project Plan and the Reinvestment Zone Financing Plan for the Zone and transmitted a proposed Second Amendment Project Plan and Reinvestment Zone Financing Plan (the “Amended Plan”) to the City for consideration by City Council. The Amended Plan includes expanded boundaries that will enhance the Zone’s ability to support infrastructure related projects to create economic redevelopment and spur growth within its boundaries.
In accordance with Section 311.011 (e) of the Texas Tax Code, a public hearing must be held prior to the City Council’s consideration of an ordinance approving the Amended Plan. The Administration recommends setting a public hearing for September 30, 2015.
cc: Marta Crinejo, Agenda Director
Anna Russell, City Secretary
Donna Edmundson, City Attorney
Gary Dzierlenga, Sr. Assistant City Attorney