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Ord 2014-027/Dedicating fifty percent of its tax increment from the FM 110 transportation reinvestment zone and approving an interlocal agreement with Hays County
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Ord 2014-027/Dedicating fifty percent of its tax increment from the FM 110 transportation reinvestment zone and approving an interlocal agreement with Hays County
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1/22/2015 4:47:00 PM
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5/23/2014 2:22:34 PM
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City Clerk - Document
Ordinances
Number
2014-27
Date
5/20/2014
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CSJ # 3545 -01 -005, 3545 -02 -007, 3545 -02 -008, <br />3545 -02 -009, 3545 -03 -003, 3545 -03 -004 <br />District # 14 - Austin <br />Code Chart 64 # 50106 <br />Project: FM 110 <br />Federal Highway Administration <br />CFDA # 20.205 <br />Not Research and Development <br />ATTACHMENT D <br />INSERT A <br />The Completion Deadline shall be December 31, 2017, provided that the Local Government has <br />completed sufficient right -of -way acquisition and utility relocations to allow construction to begin by <br />June 30, 2015, and further provided that all of right -of -way acquisition and utility relocations are <br />completed by Local Government in a manner which does not adversely impact the ability of the State <br />or its contractor to complete the Project by the Completion Deadline. For purposes of this LPAFA, <br />"completion of the Project' means that the Project can safely be opened to traffic in its entirety with <br />traffic traveling at normal posted speed limits. In the event the Local Government fails to timely <br />complete the required right -of -way acquisition and /or utility relocations, the Completion Deadline and <br />the Payment Deadline shall be extended by agreement of the parties. <br />INSERT B <br />Local Government shall remit TRZ revenues to the extent provided in the "Order Calling for the <br />Establishment of Transportation Reinvestment Zone Number One, County of Hays," adopted on <br />December 17, 2013, as well as TRZ revenues received by assignment from the City of San Marcos <br />from its "Transportation Reinvestment Zone Number One, City of San Marcos" (established by <br />ordinance adopted and effective December 17, 2013), pursuant to an intedocal agreement between <br />the Local Government and the City of San Marcos. <br />INSERT C <br />These amounts (i.e., discounts for early payment or additional amounts for payments extending <br />beyond the Payment Deadline) shall be computed on the assumption that the GMP is amortized <br />using a level payment schedule over the period commencing with the first payment and ending on <br />the Payment Deadline. <br />AFA- LPAFA_ShortGen.doc Page 1 of 1 Attachment D <br />
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