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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STATE OF TEXAS § COUNTY OF HAYS § ORDER CALLING FOR THE ESTABLISHMENT OF TRANSPORTATION REINVESTMENT ZONE NUMBER ONE, COUNTY OF HAYS WHEREAS, Section 222.107 of the Texas Transportation Code (the "Code ") allows for the creation of a county transportation reinvestment zone ( "TRZ ") for the purpose of promoting a transportation project which will promote public safety; facilitate the improvement, development, or redevelopment of property; and facilitate the movement of traffic; and WHEREAS, Hays County (the "County "), in conjunction with the City of San Marcos (the "City ") and the Texas Department of Transportation (the "TxDOT "), is currently pursuing improvements to, and the extension and expansion of, FM 110 (the "Project "); and WHEREAS, the Hays County Commissioners Court (the "Commissioners Court") finds that the area depicted generally on the map attached hereto as Attachment "A" and described more specifically in the boundary description attached hereto as Attachment `B" is unproductive and underdeveloped; and WHEREAS, in order to facilitate the development of the Project and as permitted by Section 222.107, the Commissioners Court proposes to establish "Transportation Reinvestment Zone Number One, County of Hays" (the "Zone "), in the area depicted generally on the map attached hereto as Attachment "A" and described more specifically in the boundary description attached hereto as Attachment `B "; and WHEREAS, the Commissioners Court finds that the designation of the Zone will promote public safety, facilitate the development or redevelopment of property in the Zone, facilitate the movement of traffic, and promote the development of the Project; and WHEREAS, the County Commissioners Court intends to enter into an Advance Funding Agreement ( "AFA ") with TxDOT pursuant to which TxDOT will construct the Project pursuant to specific terms and conditions, subject to reimbursement of the Project costs by the County; and WHEREAS, the County intends to dedicate one -half of the tax increment on property within the Zone to reimburse TxDOT for Project costs under the terms of the AFA and further intends to enter into an interlocal agreement with the City pursuant to which the City shall allocate a portion of the tax increment on property in a transportation reinvestment zone established by the City and shall remit such amounts to the County to fund a portion of the costs to be reimbursed by the County to TxDOT under the AFA for Project costs; and WHEREAS, after providing the notice required by Section 222.107(e) of the Code, the Commissioners Court held a public hearing on September 17, 2013 on the creation of the Zone and its benefits to the County and to the property in the Zone; and AUS:0054343/00000:519004v4