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League City Texas Form 5305-S: What You Should Know
Frequently Asked Questions About the League City Texas. (PDF). The League City of Dallas Texas is a Non Profit Corporation formed for the purpose of facilitating the development of the City of Dallas and its environs through the construction, expansion, rehabilitation, or demolition of any non-conforming building or facility that will increase the City's tax base and create new economic development opportunities. The Corporation is a joint venture between the City of Dallas and The League City Corporation, Ltd. The following is a summary of the application and any other information requested for the filing of the proposed application for incorporation of the Corporation: The proposed corporation (the “corporation”) is for the purpose of developing, expanding, rehabilitating, demolishing, or constructing any non-conforming building or facilities that will increase the City of Dallas' tax base and create new economic development opportunities such as hotels, hotels-motels, assisted living facilities, apartments, apartment complexes, office buildings, retail facilities, office/recreational and public service facilities as well as industrial/office uses. The Corporation will undertake all the proposed construction within or without the city limits unless, in the sole and exclusive judgment of the Board, it is impracticable to do so without harming other portions of the City that would be negatively affected by the proposed change in zoning or with regard to the quality of life. The proposed Corporation shall be separate and distinct from the City of Dallas, The Greater Church of God, Inc. (“CD”), The City of Plano, the State of Texas and any City of Dallas or corporate entity that is acting in concert with The Corporation of the City of Dallas. The corporation shall be owned by The Board. Section 2.01 of the incorporation application provides for the transfer of the entire legal and beneficial ownership and management interest in the Corporation to the Board. The application also provides that the corporation will be subject to a voting agreement with the shareholders that will provide for the election of one board member each year. The members of the Board shall be appointed by the board, the Mayor and the City Council, not the Corporation itself, or by the Chairman, the Mayor, and the Board, as the case may be. The President and Secretary of the Board shall be appointed by the Chairmen of the City Council of the City of Dallas and the Speaker of the Texas House of Representatives. Section 2.
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