Ord 045-2000 5/2/2000ORDINANCE NO. )4S-,'1600
ORDINANCE MAKING AN APPROPRIATION FROM THE TAX
INCREMENT FINANCING (TIF) FUND IN THE AMOUNT NOT TO
EXCEED $125,000.00 TO WICHITA FALLS HOSPITALITY, INC.
(RADISSON HOTEL WICHITA FALLS) FOR LANDSCAPING AND
EXTERIOR LIGHTING IMPROVEMENTS AT 100 CENTRAL FREEWAY;
DETERMINING THAT THE MEETING AT WHICH THIS ORDINANCE
WAS PASSED WAS OPEN TO THE PUBLIC AS REQUIRED BY LAW.
WHEREAS, the City Council of the City of Wichita Falls finds there is a need to
support economic development in the City and adopted Tax Increment Financing Zone
#1 in 1986; and,
WHEREAS, the proposed project is consistent with the Project Plan for the
Reinvestment Zone #1; and,
WHEREAS, the Tax Increment Financing Board of Directors voted unanimously
at a meeting held on April 13, 2000 to recommend additional funding to the proposed
plan to the City Council.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF WICHITA FALLS, TEXAS, THAT:
SECTION 1. The preamble stated above is made part of this ordinance.
SECTION 2. TIF funds in an amount not to exceed $125,000.00 be appropriated
to Wichita Falls Hospitality, Inc. (Radisson Hotel Wichita Falls) for landscaping and
exterior lighting at 100 Central Freeway.
SECTION 3. This commitment shall be in force for a period of six months after
the effective date of this ordinance.
SECTION 4. The City Manager is authorized to utilize Tax Increment Financing
funding from Reinvestment Zone #1 to provide these funds.
SECTION 5. It is hereby officially found and determined that the meeting at
which this ordinance was passed was open to the public as required by law.
PASSED AND APPROVED this the 2nd day of May 2000.
ATTEST:
(� ukd
City Clerk
M AY IR