HomeMy WebLinkAboutResolution - 2009-R0444 - Tax abatement for commercial projects in designated enterprise zones - 10/20/2009Resolution No. 2009-RO444
October 20, 2009
Item No. 5.13
WHEREAS, in November of 2007, the City of Lubbock approved uniform guidelines
and criteria for the application of incentives within the designated enterprise zones; and
WHEREAS, state law requires that the guidelines and criteria approved must be re-
adopted every two years, and the City of Lubbock desires to approve new guidelines for
commercial tax abatement; NOW THEREFORE:
THAT the City Council of the City of Lubbock hereby approves and adopts "Guidelines
and Criteria Governing Tax Abatement for Commercial Projects in Designated Enterprise
Zones in the City of Lubbock", which guidelines and criteria are attached as Exhibit "A" and
are made a part hereof for all intents and purposes. These guidelines shall become effective
upon expiration of the previously approved guidelines.
THAT this Resolution in no manner effects additional local incentives which may be
added or deleted by the City during the life of the enterprise zones as required to obtain the best
possible mix of incentives to insure the success of the enterprise zone program.
Passed by the City Council this 20th day of October, 2009.
TOM MARTrN, MAYOR
E191=9
F OW -0 Fft" - �
Development Services
APPROVED AS TO FORM:
........ . .. . .............. ... .. . . ..................................... . ................................ .
Linda Chamales,
Economic Development Attorney
Lc city att/Lmda/Resolutions/Res-'rax AbatementCommerciaIGuidelines-2009
September 30, 2009
Exhibit A Resolutiou No. 2009—R1444
GuidAd Criteria Governing Tax Abatement For
Commercial Projects In Designated Enterprise Zones
In The City Of Lubbock
The City of Lubbock is committed to the promotion of high quality commercial development in
designated Enterprise Zones within the City; and to an ongoing improvement in the quality of life
for citizens residing in designated Enterprise Zones. The Affected Jurisdictions recognize that
these objectives are generally served by enhancement and expansion of the local economy. The
Affected Jurisdictions will, on a case -by -case basis, give consideration to providing tax abatement,
as authorized by V.T.C.A., Tax Code, Chapter 312, as stimulation for economic development
within the designated Enterprise Zones in the City of Lubbock. It is the policy of the Affected
Jurisdictions that said consideration will be provided in accordance with the guidelines and criteria
herein set forth and in conformity with the Tax Code.
Nothing contained herein shall imply, suggest or be understood to mean that the Affected
Jurisdictions are under any obligation to provide tax abatement to any specific applicant
Tax Code, Section 312.002(d)). With the above rights reserved, all applicants for tax abatement
will be considered on a case -by -case basis.
As used within these guidelines and criteria, the following words or phrases shall have the
following meaning:
I Abatement of Taxes: To exempt from ad valorem taxation all or part of the value of
certain Improvements placed on land located in a designated Enterprise Zone for
commercial development purposes for a period of time not to exceed five (5) years.
2. Affected Jurisdiction: The City of Lubbock
3. Abatement Agreement: A contract between a property owner and the Affected Jurisdiction
for the abatement of taxes on qualified property located within a designated Enterprise Zone
as authorized by V.T.C.A., Tax Code, Section 312.204(a).
4. Base Year Value: The assessed value of property eligible for tax abatement as of January
I preceding the execution of an Abatement Agreement as herein defined.
5. Commercial: Retail, service, or office
6. Designated Enterprise Zones: Enterprise zones in which the Affected Jurisdictions will,
on a case -by -case basis, give consideration to providing commercial tax abatement, as
authorized by V.T.C.A., Tax Code, Chapter 312, as stimulation for economic development.
The eligible designated enterprise zones are:
EZ Block Groups:
Census Tract 1.0 Block Group I
Census Tract 1.0 Block Group 4
2009 Commercial Tax Abatement Guidelines
October 20, 2009
Census Tract 2.01 Block Group
Census Tract 2.02 Block Groupsand
BlockCensus Tract 3.01 r • and
Census Tract 3.02 Blockr •and
Census Tract r Block Groups
Census Tract 9.00 •ck Groups 1, 4 and
BlockCensus Tract 10.00 r • and
Census Tract 00 Block Group
Census Tract !1 Block Groups
Census Tract 4.00 Block Groups
Census Tract 4.00 Block Groupsand
Census Tract ! Block Group
Expansion7. of . Facilities or addition of buildings,
machinery or equipment to a Facility.
'a•Existing Facility or Structure: . Facility .... of ' date of execution of
Abatement Agreement, located in or on Real Property eligible for tax abatement.
9. Facility: The improvements«•« to Real Property eligible fr: tax abatement r including
the building or structure erected on such Real Property and/or any Tangible Personal
Property be located in or on property.
10. Improvements to Real Property or Improvements: Shall mean the construction, addition
• structural upgrading of, • . of, or • . • r of r • upon,or to
be located upon, Real Property, as herein defined, or any Tangible Personal Property placed
in or on said Real Property.
11. Modernizatio/ eovatio of Existing facilities: The replacement or upgrading of
existing facilities.
12. New Facility: The construction of • previously exist-• within the
affected jurisdiction on previously undeveloped real property eligible for tax abatement.
13. New Permanent Job: A new employment position created by a business that has-provide'�l
employment to an employee of at least 1,820 hours annually and intended to be an
employment position that exists during the life of abatement.
14. Owner: The record title owner of Real Property or the legal owner of Tangible Personal
Property. In the case of land leased from an Affected Jurisdiction or buildings leased from a
private party or tax exempt property, the lessee shall be deemed the owner of such leased
property •r..: all improvementsand Tangible Personal Property ! . ethereon.
15. Productive Life: The number of years a Facility is expected to be in service.
16. RealProperty: Land on which Improvements are to be made or fixtures placed.
17. Tangible Personal Property: Property,• otherwise defined herein, •
which is necessary o _ • ••« operation of • of
2009 Commercial Tax Abatement Guidelines
October 20, 2009
SECTION 111. Intent of Criteria and Guidelines:
The intent of the criteria and guidelines, as herein set forth, is to establish the minimum standards
which an applicant for tax abatement must meet in order to be considered for such status by the
Affected Jurisdictions.
SECTION IV. Criteria and Guidelines for Tax Abatement:
Any type of Facility will be eligible for tax abatement consideration provided such Facility meets
I
the following guidelines and criteria:
I. A business must clearly add to the Lubbock economic base. Compliance with this criterion
must show that if the company is qualifying on the jobs requirement that the jobs being
proposed will not simply displace other similar jabs in the community.
2. Creation of new value: Abatement may only be -ranted for the additional value resulting from
any of the following:
(a) modernization/renovation of existing facilities of any type as herein defined;
(b) construction of a new facility of any type as herein defined;
(c) expansion of existing facilities of any type as herein defined.
3. New or existing facilities, of any type herein defined, located in a designated Enterprise Zone,
(Designated Enterprise Zones are automatic reinvestment zones) or upon Real Property
eligible for such status will be eligible for consideration for tax abatement status provided all
other criteria or guidelines are satisfied.
4. Improvements to Real Property are eligible for tax abatement status.
5. The following types of property shall be ineligible for tax abatement status and shall be fully
taxed:
(a) Real Property;
(b) inventories or supplies;
(c) tools;
(d) furnishings and other forms of movable personal property;
(e) vehicles;
(f) aircraft;
(g) housing;
(h) boats;
I
2009 Commercial Tax Abatement Guidelines
October 20, 2009
property owned or leased by a member of the affected Jurisdiction that did not have an
active tax abatement in place before they became a member of the governing body or
commission.
(a) The owner or leaseholder of real property must make eligible improvements to the real
property; and,
(b) In the case of lessees, the leaseholder must have a lease commitment of at least five (5)
years.
(c) Property must be properly zoned for the use stated by the owner in the application.
(d) It is recommended that facilities located within the certificated territory of the City's
municipally owned electric utility, Lubbock Power and Light (LP&L), utilize LP&L for
electrical services during the term of the abatement.
The amount and term of abatement shall be determined on a case -by -case basis, however, in
no event shall taxes be abated for a term in excess of five (5) years. The amount of the taxable
value of Improvements to be abated and the term of the abatement shall be determined by the
Affected Jurisdiction in all cases. The authority of all other taxing units shall be as set forth in
V.T.C.A., Tax Code, Section 312.206.
8. No commercial property shall be eligible for tax abatement under these guidelines and criteria
unless such property is located in a designated Enterprise Zone in accordance with
Government Code, Chapter 2303.101, and as defined in Section 11(6), and the tax abatement
application is filed with the taxing jurisdiction before construction begins.
lll:illlllllllillllll!!!!!!!I!Ill�'lli�
DJEit !!!���
10. Notwithstanding any of the requirements set forth in Subsection 9 above, the governing body
of an Affected Jurisdiction upon the affirmative vote of three -fourths (3/4) of its members may
vary any of the above requirements when variation is demonstrated by the applicant for Tax
Abatement that variation is in the ► interest of the Affected Jurisdiction to do so, and will
enhance the economic development of the Affected Jurisdiction. By way of example only,
and not • limitation, the governing body of an Affected Jurisdiction may consider the
following or similar terms in deten-nining whether a variance shall be granted:
(a) That the increase in productivity of the Facility will be substantial and hence directly
benefit the economy.
E1
2009 Commercial Tax Abatement Guidelines
October 20, 2009
(b) That the increase of goods or services produced by the Facility will be substantial, and
directly benefit the economy.
(c) That the employment maintained at the Facility will be increased.
(d) That the waiver of the requirement will contribute, and provide for the retention of
existing jobs within the Affected Jurisdiction.
(e) Any other evidence tending to show a direct economic benefit to the Affected
Jurisdiction.
MELE=
(a) The portion of the value of Improvements to be abated shall be abated in accordance with
the terms and provisions of a Tax Abatement Agreement executed between the Affected
I
Jurisdiction and the owner of the Real Property and/or Tangible Personal Property,
(which agreement shall be) in accord with the provisions of V.T.C.A., Tax Code, Section
312.205.
12. The governing body of each Affected Jurisdiction shall have total discretion as to whether tax
abatement is to be granted. Such discretion, as herein retained, shall be exercised on a case -
by -case basis. The adoption of these guidelines and criteria by the governing body of an
Affected Jurisdiction does not:
(a) Limit the discretion of the governing body to decide whether to enter into a specific tax
abatement agreement;
(b) Limit the discretion of the governing body to delegate to its employees the authority to
determine whether or not the governing body should consider a particular application or
request for tax abatement; or,
(c) Create any property, contract, or other legal right in any person to have the governing
body consider or grant a specific application or request for tax abatement.
13. The burden to demonstrate that an application for tax abatement should be granted shall be
upon the applicant. Each Affected Jurisdiction to which the application has been directed
shall have full authority to request any additional information from the applicant that the
governing body of such Affected Jurisdiction deems necessary to assist it in considering such
application.
. I I
1. The Tax Abatement Agreement may be executed between the owner and the municipality. A
Tax Abatement Agreement shall:
(a) Establish and set forth the Base Year assessed value of the property for which tax
abatement is sought.
0
2009 Commercial Tax Abatement Guidelines
October 20, 2009
(b) Provide that the taxes paid on the Base Year assessed value shall not be abated as a result
of the execution of said Tax Abatement Agreement.
(c) Provide that ineligible property as subscribed in Section IV, Subsection 5,
hereinabove shall be fully taxed.
(d) Provide for the exemption of Improvements in each year covered by the agreement, only
to the extent the value of such Improvements for each such year exceeds the value for the
year in which the agreement is executed.
(e) Fully describe and list the kind, number and location of all of the improvements to
be made in or on the Real Property.
(f) Set forth the estimated value of all improvements to be made in or on the Real Property.
(g) Clearly provide that tax abatement shall be granted only to the extent:
(1) The improvements to Real Property increase the value of the Real Property for the
year in which the Tax Abatement Agreement is executed; and,
(2) That the Tangible Personal Property improvements to Real Property were not located
on the Real Property prior to the execution of the Tax Abatement Agreement.
I
(h) Provide for the portion of the value of the improvements to Real Property or
improvements to be abated. This deten-nination is to be made consistent with the
provisions of Section IV, Subsection 5, of these guidelines and criteria as hereinabove set
forth.
(i) Provide for the commencement date and the termination date. In no event shall said dates
exceed a period of five (5) years.
Describe the type and proposed use of the improvements to Real Property or
improvements including:
(1) The type of facility.
(2) Whether the improvements are for a new facility or renovation of a facility.
(3) The nature of the construction, proposed time table of completion, a map or drawings
of the improvements above mentioned.
(4) The amount of investment and the commitment for the creation of new jobs.
(5) A list containing the kind, number and location of all proposed improvements.
(6) Any other information required by the Affected Jurisdiction.
(k) Provide a legal description of the Real Property upon which improvements are to be
made.
T
rtmm
October 20, 2009
(1) Provide access to and authorize inspection of the Real Property or improvements by
employees of the Affected Jurisdiction, who have executed a Tax Abatement Agreement
with owner to insure improvements are made according to the specifications and
conditions of the Tax Abatement Agreement.
(m) Provide for the limitation of the uses of the Real Property or improvements consistent
with the general purpose of encouraging development or re -development of the zone
during the period covered by the Tax Abatement Agreement.
(n) Provide for contractual obligations in the event of default by owner, violation of the terms
or conditions by owner, recapturing property tax revenue in the event the owner defaults
or otherwise fails to make improvements as provided in said Tax Abatement Agreement,
and any other provision as may be required or authorized by State law.
(o) Contain each term agreed to by the owner of the property;
(p) Require the owner of the property to certify annually to the governing body of
each taxing unit that the owner is in compliance with each applicable to of
the agreement; and
(q) Provide that the governing body of the municipality may cancel or modify the
agreement if the property owner fails to comply with the agreement.
2. Not later than the seventh day before the City of Lubbock (as required by V.T.C.A., Tax
Code, Section 312.2041 or Section 312.402) enters into an agreement for tax abatement under
V.T.C.A., Tax Code, Section 312.204, the governing body or a designated officer or employee
thereof shall deliver to the presiding officer of the governing body of each of the taxing units
in which the property to be subject to the a-, reement is located, a written notice that the City
intends to enter into the agreement. The notice must include a copy of the proposed Tax
Abatement Agreement.
3. A notice, as above described in Subparagraph 2, is presumed delivered when placed in the
mail, postage paid and properly addressed to the appropriate presiding officer. A notice
properly addressed and sent by registered or certified mail for which a return receipt is
received by the sender is considered to have been delivered to the addressee.
4. Failure to deliver the notice does not affect the validity of the agreement.
SECTION V1. Application:
1. Any present owner of taxable commercial property located within the designated Enterprise
Zone of the City of Lubbock may apply for tax abatement by filing, an application with the
City of Lubbock.
2. The application shall consist of a completed application form accompanied by:
(a) A general description of the improvements to be undertaken.
(b) A descriptive list of the improvements for which tax abatement is requested.
2009 Commercial Tax Abatement Guidelines
October 20, 2009
(c) A list of the kind, number and location of all proposed improvements of the Real Property
Facility of Existing Facility.
(d) A map indicating the approximate location of improvements on the Real Property Facility
or Existing Facility together with the location of any or all Existing Facilities located on
the Real Property or Facility.
(e) A list of any and all Tangible Personal Property presently existing on the Real Property or
located in an existing facility.
(f) A legal description of property.
(g) Address of property.
(h) A proposed time schedule for undertaking and completing the proposed improvements.
(i) A general description stating whether the proposed improvements are in connection with:
(1) the renovation of a facility; or,
(2) construction of a new facility.
A statement of the additional value to the Real Property or Facility as a result of the
proposed improvements.
(k) A statement of the assessed value of the Real Property, Facility or Existing Facility for the
Base Year.
(1) Information concerning the number of new jobs that will be created or information
concerning the number of existing jobs to be retained as result of the improvements
undertaken.
(m) Any other information which the City of Lubbock deems appropriate for evaluating the
financial capacity of the applicant and compatibility of the proposed improvements with
these guidelines and criteria.
(n) Information that is provided to an Affected Jurisdiction in connection with an application
or request for tax abatement, and which describes the specific processes or business
activity to be conducted or the equipment or other property to be located on the property
for which tax abatement is sought is confidential and not subject to public disclosure until
the Tax Abatement Agreement is executed. Information in the custody of an Affected
Jurisdiction after the agreement is executed is not confidential. (V.T.C.A., Tax Code,
• 312.003).
(o) The City of Lubbock shall determine if the property described in said application is
within a designated Enterprise Zone. If the City determines that the property described is
not within a current Enterprise Zone, then they shall so notify the applicant and sai,?,
application shall then be returned to the applicant.
2009 Commercial Tax Abatement Guidelines
October 20, 2009
improvements; fails to create all or a portion of the new jobs provided by the Tax Abatement
ft--r ment- or is in default of an of the terms or conditions contained in the Tax Abatement
Agreement; then in such event the Affected Jurisdiction to whom the application for tax
abatements was directed shall give the applicant or owner sixty (60) days notice of such
failure. The applicant or owner shall demonstrate to the satisfaction of the Affected
4 jrUdiction above mentioned that the awAlicant or owner has commenced to cure such failure
within the sixty (60) days above mentioned. In the event the applicant owner, or lessee fails to
demonstrate that he is taking affirmative action to cure his failure, the Affected Jurisdiction
shall have three options:
(a) The Affected Jurisdiction may renegotiate the Agreement with the applicant, owner or
lessee, in which case the current Guidelines and Criteria Governing Tax Abatement for
Commercial Projects in Designated Enterprise Zones shall apply to the new Agreement;
or
(b) The Affected Jurisdiction may determine that good cause exists to cancel the Agreement
and all abatement of taxes shall terminate immediately; or
(c) The Affected Jurisdiction may terminate the Agreement and recapture taxes abated under
Section Vill, Recapture.
In any of the three options in subparagraph I above, the Affected Jurisdiction to which the
,ZA;A44,244a-A f-�Slt5w
*wier *r lessee iii Ae te,#tt.s ai,41 conditions of the Tax Abatement Agreement and
I'M Oil
RoatemetIT Agreeirien7vj LFIC A11CUMt J1111SUILA11111 UP WIMAI
W-dS—dtM&,f Sl
Affected Jurisdictions.
In the event that any type of facility, (as defined in Section 11, Subparagraphs 5, 6, 7, 8, 9) is
completed and begins producing goods or services, but subsequently discontinues producing
goods or services for any reason, excepting fire, explosion or other casualty or accident or
natural disaster or other event beyond the reasonable control of applicant or owner for a
period of 180 days during the terin of a tax abatement agreement, then in such event the Tax
Abatement Agreement shall terminate and all abatement of taxes shall likewise terminate.
Taxes abated during the calendar year in which termination takes place shall be payable to
each Affected Jurisdiction by no later than January 3 1 st of the following year. Taxes abated in
years prior to the year of termination shall be payable to each Affected Jurisdiction within
sixty (60) days of the date of ten-nination. The burden shall be upon the applicant or owner to
prove to the satisfaction of the Affected Jurisdiction to whom the application for tax
of fire, explosion, or other casualty or accident or natural disaster or other even beyond the
control of applicant or owner. In the event the applicant or owner meets this burden, and the
M
2009 Commercial Tax Abatement Guidelines
October 20, 2009
was the result of events beyond the control of the applicant or owner, then such applicant or
owner shall have a period of one y�ar in which to resume the production of goods and
services. In the event that the applicant or owner fails to resume the production of goods or
services within one year, then the Tax Abatement Agreement shall terminate and the
Abatement of all taxes shall likewise terminate. Taxes abated during the calendar year in
which termination takes place shall be payable to each Affected Jurisdiction by no later than
January 3 1 st of the following year. Taxes abated in years prior to the year of termination shall
be payable to each Affected Jurisdiction within sixty (60) days of the date of termination. The
one year time period, hereinabove mentioned, shall commence upon written notification from
the Affected Jurisdiction to the applicant or owner.
t. In the event that the applicant, owner or Lessee has entered into a tax abatement agreement 170'
make improvements to a facility of any type described in Section I above, but fails
undertake or complete such improvements or fails to create all or a portion of the number
new jobs provided by the Tax Abatement Agreement, then in such event the Affect
Jurisdiction to whom the application for tax abatement was directed shall give the applicant
owner sixty (60) days notice of such failure. The applicant or owner shall demonstrate to t
satisfaction of the Affected Jurisdiction, above mentioned, that the applicant or owner h
commenced to cure such failure within the sixty (60) days above mentioned. In the event th
the applicant or owner fails to demonstrate that he is taking affirmative action to cure h
failure, then in such event the Tax Abatement Agreement shall terminate and all abatement
taxes shall likewise terminate. Taxes abated during the calendar year in which terminati
takes place shall be payable to each Affected Jurisdiction by no later than January 3 1 st of t
following year. Taxes abated in years prior to the year of termination shall be payable to ea
Affected Jurisdiction within sixty (60) days of the date of termination.
neu,.rmmes mat Ene applicant or owner is III MULLIL VI d11:T 01
in the Tax Abatement Agreement, then in such event the Affected Jurisdiction shall give the
applicant or owner sixty (60) days written notice to cure such default. In the event such
default is not cured to the satisfaction of the Affected Jurisdiction within the sixty (60) days
notice period, then the Tax Abatement Agreement shall terminate and all abatement of taxes
shall likewise terminate. Taxes abated during the calendar year in which termination takes
place shall be payable to each Affected Jurisdiction by no later than January 31st of the
following year. Taxes abated in years prior to the year of termination shall be payable to each
Affected Jurisdiction within sixty (60) days of the date of termination.
4. In the event that the applicant or owner allows ad valorem taxes on property ineligible for tax
abatement owed to any Affected Jurisdiction, to become delinquent and fails to timely and
properly follow the legal procedures for their protest or contest, then in such event the Tax
Abatement Agreement shall terminate and all abatement of taxes shall likewise tenninate.
Taxes abated during the calendar year in which termination, under this subparagraph, takes
place shall be payable to each Affected Jurisdiction by no later than January 31st of the
following year. Taxes abated in years prior to the year of termination shall be payable to each
Affected Jurisdiction within sixty (60) days of the date of termination.
5. In the event that the applicant or owner, who has executed a tax abatement agreement with any
Affected Jurisdiction, relocates the business, for which tax abatement has been granted, to a
2009 Commercial fax Abatement Guidelines
October 20, 2009
location outside of the designated reinvestment zone, then in such event, the Tax Abatemen)
Agreement shall terminate after sixty (60) days written notice by the Affected Jurisdiction to
the Owner/Applicant. Taxes abated during the calendar year in which termination, under this
subparagraph takes place shall be payable to each Affected Jurisdiction by no later than
January 3 1 st of the following year. Taxes abated in years prior to the year of termination shall
be payable to each Affected Jurisdiction within sixty (60) days of the date of termination.
,f,. The date of termination as that terrn is used in this Subsection VIII shall, in every instance, be
the 60th day after the day the Affected Jurisdiction sends notice of default, in the mail to the
address shown in the Tax Abatement Agreement to the Applicant or Owner. Should the
default be cured by the Owner or Applicant within the sixty (60) day notice period, the
Owner/Applicant shall be responsible for so advising the Affected Jurisdiction and obtaining a
release from the notice of default from the Affected Jurisdiction, failing in which, the
abatement remains terminated and the abated taxes must be paid.
0
every case of termination set forth in Subparagraphs 1, 2, 3, 4 and 5 above, the Affected
Jurisdiction to which the application for tax abatement was directed shall determine whether
default has occurred by Owner (Applicant) in the terms and conditions of the Tax Abatement
Agreement and shall so notify all other Affected Jurisdictions. Termination of the Tax
Abatement Agreement by the Affected Jurisdiction to which the application for tax abatement
was directed shall constitute simultaneous termination of all Tax Abatement Agreements of all
other Affected Jurisdictions.
8. In the event that a tax abatement agreement is terminated for any reason whatsoever, and taxes
I
are not paid within the time period herein specified, then in such event, the provisions of
V.T.C.A., Tax Code, Section 3 )3 ) O I wil I apply.
1. Any notice required to be given by these criteria or guidelines shall be given in the following
manner:
(a) To the Owner or Applicant: written notice shall be sent to the address appearing on the
Tax Abatement Agreement.
(b) To an Affected Jurisdiction: written notice shall be sent to the address appearing on thi
Tax Abatement Agreement.
2. The Chief Appraiser of the Lubbock Central Appraisal District shall annually assess the Real
and Personal Property comprising the reinvestment zone. Each year, the Applicant or Owner
receiving tax abatement shall furnish the Chief Appraiser with such information as may be
necessary for the abatement. Once value has been established, the Chief Appraiser shall notify
the Affected Jurisdictions which levy taxes of the amount of assessment.
3. Upon the completion of improvements made to Facility as set forth in Section VII,
Subparagraph I of these criteria and guidelines, a designated employee or employees of any
2009 Commercial Tax Abatement Guidelines
October 20, 2009
C A Tax Abatement Agreement may be assigned to a new owner, but only after written consent
has been obtained from all Affected Jurisdictions which have executed such an agreement with
the Applicant or Owner.
5. These guidelines and criteria are effective upon the date of their adoption by an Affected
Jurisdiction and shall remain in force for two years. At the end of the two-year period, these
guidelines and criteria may be re -adopted, modified, amended or re -written as the conditions
may warrant.
6. Each Affected Jurisdiction shall determine whether or not said Affected Jurisdiction elects to
become eligible to participate in tax abatement. In the event the Affected Jurisdiction elects
I
by resolution to become eligible to participate in tax abatement, then such Affected
Jurisdiction shall adopt these guidelines and criteria by separate resolution forwarding a copy
of both resolutions to all other Affected Jurisdictions.
In the event of a conflict between these guidelines and criteria and V.T.C.A., Tax Code,
Chapter 312, then in such event, the Tax Code shall prevail, and these guidelines and criteri2
interpreted accordingly.
I
8. The guidelines and criteria, once adopted by an Affected Jurisdiction, may be amended or
repealed by a vote of three -fourths of the members of the governing body of an Affected
Jurisdiction during the two-year term in which these guidelines and criteria are effective.
M