04241989 Regular Meeting - Laserfiche WebLink

Home Browse Search

129 Regular Meeting April 24, 1989 Page 2 Mayor Morris introduced receiving information from Staff regarding an Application to the Texas Capital Fund and holding a public hearing to discuss a proposed project eligible for funding through the City under the Texas Community Development Program, Texas Capital Fund, administered by the Texas Department of Commerce, the estimated amount of funds proposed for the CTEC infrastructure and the fund amount being requested. Mr. Gilley stated he hoped Staff would have the application ready for presentation to the Council for the May 8 meeting. Ms. Rosa Rios-Valdez advised the City could apply for a grant in the amount of $500,000 for a water main which would serve CTEC and the area on the East side of IH35 North of the Blanco River. The City would be asked to contribute $220,000, and funds might be available through capital recovery fees, the utility fund balance or certificates of obligation. CTEC would need to commit $2,000,000 in working capital or equipment. She stated this arrangement coupled with the fact CTEC plans to employ 43% minorities and low income individuals would be a strong application with the Texas Department of Commerce. Mayor Morris opened the public hearing and asked if anyone had questions regarding the filing of an application. Patti Wenk asked what CTEC's $2,000,000 commitment would be, and Ms. Rios-Valdez stated their contribution would be in equipment. R. G. Phillips asked how CTEC's commitment of contribution helped pay for infrastructure and how this would contribute to San Marcos. Mr. Gilley advised without their participation the City could not apply for the $500,000 grant funds for the infrastructure. Bill Coddington stated the proposed water and wastewater improvements were in excess of $4,000,000, construction to begin by August 1st and construction completion by December 31, 1989. He stated if the City does not receive grants applied for, how will the City fund the infrastructure. Mayor Morris stated the water line could be paid for by fund balance and/or contingency funds. Mr. Coddington stated he was concerned for the citizens' tax money. No one else wished to speak, so Mayor Morris closed the public hearing. Mayor Morris introduced for consideration a public hearing and adoption of an Ordinance on emergency, the caption which was read as follows: AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, DESIGNATING A COMMERCIAL-INDUSTRIAL REINVESTMENT ZONE PURSUANT TO CHAPTER 312 OF THE TEXAS TAX CODE TO INCLUDE PROPERTY PARTIALLY INSIDE AND PARTIALLY OUTSIDE OF THE CITY LIMITS OF SAID CITY, COMPRISING AN AREA OF APPROXIMATELY 110.859 ACRES LOCATED EAST OF INTERSTATE HIGHWAY 35 NORTH AND SOUTH OF YARRINGTON ROAD, ADJACENT TO INTERSTATE HIGHWAY 35, TO BE KNOWN AS REINVETMENT ZONE NO. 2; ESTABLISHING THE SPECIFIC BOUNDARIES THEREOF; MAKING CERTAIN STATUTORY FINDINGS; ESTABLISHING AN EFFECTIVE DATE AND DECLARING AN EMERGENCY. Mr. Moore moved for adoption of the Ordinance on emergency and Mr. Hernandez seconded the motion. Mr. Brown moved to amend the Ordinance to approve the Ordinance on first reading rather than adoption on emergency and Mayor Morris seconded the motion. On roll call of the amendment, the following vote was recorded: AYE: Moore, Brown, Morris, Plummer. NAY: Hernandez, Guerra. ABSTAIN: None. The motion passed. Mayor Morris opened the public hearing. Vicki Hardin asked how the tax abatement agreement relates to the Reinvestment Zone No.2, and Mayor Morris responded a reinvestment zone has to be established before the City can offer