Ord 1983-080 - Laserfiche WebLink

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NOW THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS: SECTION 1. That the facts and recitations contained in the pre- amble of this ordinance are hereby found and declared to be true and correct. SECTION 2. The City, after conducting such hearing and having heard such evidence and testimony, has made the following find- ings and determinations based on the evidence and testimony pre- sented to it: (a) That the public hearing on adoption of the reinvest- ment zone has been properly called, held and conducted and that notice of such hearing has been published as required by law and mailed to all taxing units over- lapping the territory inside the proposed reinvestment zone; and (b) That the City has jurisdiction to hold and conduct this public hearing on the creation of the proposed reinvestment zone pursuant to the Act; and (c) That creation of the proposed zone with boundaries as described in Exhibits A and B will result in benefits to the City, its residents and property owners in the investment zone; and (d) That the reinvestment zone, as defined in Exhibits A and B, meets the criteria for the creation of a rein- vestment zone as set forth in Section 3 of the Act in that: (1) It is a contiguous geographic area located wholly within the corporate limits of the City. (2) Development or redevelopment of the area within the reinvestment zone would not occur solely through private investment in the reasonably foreseeable future. ( 3) The area within the reinvestment zone substantially impairs or arrests the sound growth of the City. (4) Not more than ten percent (10%) of the prop- erty in the zone, excluding that dedicated to public use, is used for residential pur- poses, which is defined in the Act as any property occupied by a house which has less than five living units. -2-