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R-2012-187-2012-12-10 RESOLUTION NO. R2012-187 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PEARLAND, TEXAS, ADOPTING A PROJECT PLAN FOR REINVESTMENT ZONE NO. 23. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PEARLAND, TEXAS: Section 1. Pursuant to Section 272.001 of the Texas Local Governement Code, the City Council hereby adopts a Project Plan, attached hereto as Exhibit "A," for property located in City of Pearland Reinvestment Zone No. 23. PASSED, APPROVED, AND ADOPTED this 10th day of December A.D., 2012. 72,C..c_ck TOM REID MAYOR ATTEST: YO • G L• G T M Cl V SEC"ETARY APPROVED AS TO FORM: DARRIN M. COKER CITY ATTORNEY Resoltion No. R2012-187 Exhibit "A" Development Plan for Reinvestment Zone #23 City of Pearland, Texas Created December 2012 In the past, the City of Pearland has created reinvestment zones in several areas of the City. The purpose of these zones was to protect or improve the economic vitality of the property and to increase the taxable value of the properties. These zones have been created due to the properties' economic importance to the City. It has been determined that the need exists to create a reinvestment zone for the area west of State Highway 35,north of Bailey Road, east of the Burlington Northern railroad tracks and south of the Brazoria County Drainage District #4 drainage easement. The entire parcel consists of approximately 121.6 acres. The area is feasible and practical for industrial development that would benefit the zone. The zone will contribute to the expansion of primary employers and attract major investment to the zone. The zone is compromised of industrial zoned vacant ground with excellent vehicular access to the Greater Houston region via State Highway 35. The future land use of the ground calls for industrial uses as does the ground to both the north and south of the site. According to the FEMA flood plain map the site is located with Flood Zone X,which is an area outside the 100 year flood plain. The City and the Pearland Economic Development Corporation have recently invested significant resources in the immediate vicinity. The zone is appropriately served by sanitary sewer,water, energy and communication utilities. The utilities are located in the right of way of Bailey Road and State Highway 35 and are adequately sized to facilitate industrial activity. The reinvestment zone plan goals for the area include the following: • To cause the expansion of the local industrial base that will benefit the public welfare through the creation of primary jobs and investment resulting in additional tax base. • To develop land within the zone in a manner consistent with the applicable regulations. • To facilitate the construction of high quality industrial facilities that will capitalize on the existing infrastructure.