HomeMy WebLinkAboutResolution - 2024-R0232 - Industrial Tax Abatement Agreements - 04/23/2024Resolution No. 2024-R0232
Item No. 7.2
Apri123, 2024
RESOLUTION
WHEREAS, on March 8, 2022, via Resolution No. 2022-R0125, the City Council of the
City of Lubbock approved uniform guidelines and criteria for tax abatement for industrial
projects (the "Guidelines") within the City of Lubbock in conformance with the requirements
of the Texas Tax Code (the "Tax Code") Chapter 312; and
WHEREAS, under the Tax Code the Guidelines approved are effective two years from
the date adopted; and
WHEREAS, the City Council of the City of Lubbock desires to approve new Guidelines
for industrial tax abatement; NOW THEREFORE:
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
THA"I' the City Council of the City of Lubbock hereby approves and adopts "Guidelines
and Criteria Governing Tax Abatement for Industrial Projects in the City of Lubbock", which
guidelines and criteria are attached as Exhibit "A" and are incorporated herein.
Passed by the City Council on A inr 1 23;2.024
ATTEST:
Courtney Paz, City Secretary
APPROVED AS TO CONTENT:
D. Blu Kos lich, Chief ncial Officer
A VED S TO FORM:
� �
K lli Leisure, Senior Assistant City Attorney
Rcs. I ax AbatementlndustrialGuidelines2024
3.6.24