HomeMy WebLinkAbout2002-10-6589404
ORDINANCE NO. 2002-10- 65 F
AN ORDINANCE APPROVING THE CONCEPT OF
GROWTH THROUGH ANNEXATION AGREEMENTS
WHEREAS, The Board of Commissioners for the City of Paducah finds:
That an Annexation Agreement will attract commercial, industrial and
residential developments into the City of Paducah.
That the City of Paducah's economic well being is related to and in many
respects dependent upon, sustained growth of its population and tax revenue base through
annexation of contiguous territories.
That an Annexation Agreement will increase the revenue tax base necessary
to meet various capital needs, especially in the area of public safety, maintain
infrastructure and facilities, promote economic development, and will aid in the
maintenance of existing infrastructure and facilities.
That an Annexation Agreement will help maintain growth, which encourages
a healthy economy.
That an Annexation Agreement will increase the population base of the City
of Paducah, therefore increasing the possibilities of becoming a designated urbanized
area.
That an Annexation Agreement will promote filling in unincorporated gaps
between incorporated areas that are presently served with City of Paducah services.
WHEREAS, it is the intent of the Board of Commissioners to enact an
ordinanc�roviding for annexation agreements between the City of Paducah and
potential developers; and
NOW, THEREFORE, BE IT ORDAINED BY THE CITY OF PADUCAH,
KENTUCKY, AS FOLLOWS:
SECTION 1. The purpose of this ordinance is to encourage developers to
develop residential, commercial, and industrial property within the city limits of Paducah
by providing the developer reimbursement monies to offset the infrastructure costs born
by the developer based upon certain terms and conditions. The reimbursement of monies
shall be defined in an Annexation Memorandum of Agreement to be executed between
the Developer and the City Commission, which Memorandum of Agreement shall contain
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such terms and conditions as agreed between the parties. Each Memorandum of
Agreement shall become effective upon City Commission's approval by ordinance. This
ordinance shall not be construed to mean the City Commission is obligated to enter into
such Memorandum of Agreement with any Developer.
SECTION 2. This ordinance shall be read on two separate days and will
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become effective upon summary publica0Vff—ptnmmWLto KRS Chapter 424. E
ATTEST:
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Tammara S. Brock, City Clerk
Introduced by the Board of Commissioners, October 8, 2002
Adopted by the Board of Commissioners, October 22, 2002
Recorded by Tammara S. Brock, City C erl October 22, 2002
Published by The Paducah Sun, a U a a Z
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