Ord 091-2007 10/2/2007 ORDINANCE NO. 91-2007
ORDINANCE MAKING AN APPROPRIATION FROM THE TAX
INCREMENT FINANCING (TIF) FUND #1 IN THE AMOUNT NOT TO
EXCEED ONE THOUSAND AND TWO HUNDRED DOLLARS
($1,200.00) FOR IMPROVEMENTS AT 1714 NINTH STREET; FINDING
AND 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 at a meeting held on
September 10 2007 to recommend funding the proposed project 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 $1,200.00 are to be appropriated for
the improvements at 1714 Ninth Street. Payment is to be based on the receipt of documented
costs.
SECTION 3. This commitment shall be in force for a period of six (6) months after the
effective date of this ordinance.
SECTION 4. The City Manager is authorized to execute an agreement with the owner
of the property indicated as Nancy M. Berend for the use of such Tax Increment Financing
Reinvestment Zone #1 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 2" day of October, 2007.
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MAYOR
ATTEST:
City lerk