09-133 - R TOWN OF PROSPER, TEXAS RESOLUTION NO. 09-133
A RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF
PROSPER, TEXAS, CREATING A NEIGHBORHOOD EMPOWERMENT
ZONE AND SETTING FORTH INCENTIVES AUTHORIZED TO BE
USED BY THE TOWN.
WHEREAS, the Town Council of the Town of Prosper, Texas ("Town Council") desires
to create a neighborhood empowerment zone as authorized by Chapter 378 of the Texas Local
Government Code; and
WHEREAS, the Town Council has, by resolution, made the determinations required by
Section 378.002 of the Texas Local Government Code to create a neighborhood empowerment
zone, which resolution is attached hereto as Exhibit"A" and incorporated herein for all purposes.
NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF
PROSPER, TEXAS:
SECTION 1: The recitals contained in the preamble of this Resolution are hereby found and
declared to be true and correct.
SECTION 2: The Town Council hereby creates Neighborhood Empowerment Zone No. 1 in
the area of the Town depicted on the map attached as Exhibit"B", and incorporated herein for all
purposes.
SECTION 3: The Town Council hereby finds that: (1) the creation of Neighborhood
Empowerment Zone No. 1 benefits and is for the public purpose of increasing the public health,
safety and welfare of the persons in the Town of Prosper; and (2) the creation of Neighborhood
Empowerment Zone No. 1 satisfies the requirements of Texas Tax Code Section 312.202.
SECTION 4: The Town Council hereby adopts the following incentives to be used by the
Town for non-residential development within Neighborhood Empowerment Zone No. 1:
A. Fees.
1. The Town of Prosper will waive seventy-five percent (75%) of building permit fees,
building inspection fees, construction inspection fees, demolition permit fees, electrical
permit fees, plumbing permit fees, mechanical permits fees, certificate of occupancy fees
and similar fees as determined by the Town. Fees for zoning applications, site plans,
plats, or any other applications that are not for the actual construction of buildings are not
eligible to be waived. The Town shall have sole discretion in determining whether any
particular fee is eligible for the waiver.
2. The Town of Prosper will waive seventy-five percent (75%) of water, wastewater, and
roadway impact fees.
B. Taxes.
1. The Town of Prosper may refund of up to sixty percent (60%) of municipal sales tax on
sales made in Neighborhood Empowerment Zone No. 1 resulting from new development or
redevelopment.
2. The Town of Prosper may abate up to one-hundred percent (100%) of municipal property
taxes on property in Neighborhood Empowerment Zone No. 1 resulting from new
development or redevelopment.
A written agreement must be entered with the Town of Prosper for a taxpayer to receive any of
the authorized tax incentives. The project/property for which tax incentives are sought must be
for the purpose of benefiting Neighborhood Empowerment Zone No. 1, as determined by the
Town Council. Written agreements shall be for a period of up to ten(10) years.
SECTION 5: This Resolution shall take effect immediately upon its passage and remain in
effect for ten (10) years. This Resolution may be repeatedly renewed by the Town Council for
up to ten (10) additional years at a time. The expiration of this Resolution shall not affect the
validity or term of any written agreement authorized to be entered by this Resolution that has a
term extending beyond the expiration date of this Resolution, if said written agreement was
executed by the parties while this Resolution is effective.
RESOLVED THIS the 10th day of November, 2009.
ES' SWANGER, Mayor
ATTEST:
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TTHEW D. DENTON, TRMC
Town Secretary
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i DISCLAIMER .
p = The Town of Prosper has prepared this
�r�' map or information for internal purposes
only. It is made available under the --
f'OWN OF Public Information Act Any reliance on 0 � ,�..-—aaw
:1 S P ER this map or information is AT YOUR OWN. (PlL__
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- RISK. The Town of Prospser assumes noa .41
Iiability for any errors,omissions;or inaccuracies in the map or information ' ,, Fr c f s
regardless of the cause of such•or far any decision made, action 1, �,iiiallit'Fr''47./a L : • ~ 0 270 .qep. aoo
• taken, or action not:taken in reliance upon any.maps:or information ! y
provided herein. - The-Town of Prosper makes..no warranty, p r 1Feet
representation or guarantee of any kind regarding any maps or ,�" �� ' _
information provided.herein or the sources of. such maps or - - ...... . ...
information and DISCLAIMS ALL-REPRESENTATIONS AND
WARRANTIES, EXPRESSED AND' IMPLIED, including the implied -
warranties of merchantability and:fitness for a particular purpose: Prepared 11/05/09
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DISCLAIMER
la = The Town of Prosper has prepared this
+` map or information for internal purposes /
only. It is made available.under the lee"'
TOWN Ole / f/�J w e
Public Information Act. Any reliance on �'.,: 1
P S P E.R.this map or information is AT YOUR OWN
TO
RISK:The Town of Prospser assumes no J
liability for any errors,omissions,or inaccuracies in the map or information
a a)o 400 am
t
regardless of the cause of such or for any decision made, action
taken, o'r action not taken in reliance upon any maps or information t IFeet
provided herein. The Town of Prosper makes no warranty, ' •
representation, or guarantee of any kind regarding any maps or nos_ 9 a
information provided herein or the sources of such maps or
information and DISCLAIMS ALL REPRESENTATIONS AND
WARRANTIES. EXPRESSED AND IMPLIED, including the implied
warranties of merchantability and fitness for a particular purpose.