SUBJECT: Motion establishing a public hearing date for a sixth amendment to the Project Plan and Reinvestment Zone Financing Plan for Reinvestment Zone Number Seven (OST/Almeda Zone).
RECOMMENDATION: (Summary)
To establish a public hearing date regarding the sixth amendment to the Project Plan and Reinvestment Zone Financing Plan for Reinvestment Zone Number Seven (OST/Almeda Zone).
PECIFIC EXPLANATION:
On November 18, 2015, the Board of Directors of both the OST/Almeda Redevelopment Authority and Reinvestment Zone Number Seven (“OST/Almeda Zone”) approved amendments to the Project Plan and Reinvestment Zone Financing Plan for the OST/Almeda Zone and transmitted a proposed Sixth Amended Project Plan and Reinvestment Zone Financing Plan (the “Amended Plan”) to the City for consideration by City Council. The Amended Plan will address future infrastructure, mobility and quality of life issues resulting from existing and projected densities within the OST/Almeda Zone.
In accordance with Section 311.011(e) of the Texas Tax Code, a public hearing must be held prior to City Council’s consideration of an ordinance approving the Amended Plan. The Administration recommends setting a public hearing for November 30, 2016.
cc: Marta Crinejo, Agenda Director
Anna Russell, City Secretary
Ron Lewis, City Attorney
Gary Dzierlenga, Senior Assistant City Attorney