HomeMy WebLinkAboutResolution - 2024-R0233 - Commercial Tax Abatement Agreements - 04/23/2024Resolution No. 2024-R0233
Item No. 7.3
Apri123, 2024
RESOLUTYON
WHEREAS, on March 8, 2022, via Resolution No. 2022-R0124, the City Council of the
City of Lubbock approved uniform guidelines and criteria for tax abatement for commercial
projects (the "Guidelines") within the City of Lubbock in conformance with the requirements
of the Texas Tax Code (the "Tax Code") Chapter 312; and
WH�REAS, 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 commercial tax abatement; NOW THEREFORE:
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
THAT the City Council of the City of Lubbock hereby approves and adopts "Guidelines
and Criteria Governing Tax Abatement for Commercial 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 Apri123, 2024
ATTE T:
Courtney az, City Secretary
APPROVED AS TO CONTENT:
D. u Kosteli , Chief 1•� al Officer
PP t VED S TO FORM:
K�lli Leisure, Senior Assistant City Attorney
'1�'
Rcs. Ia� AbTtement Commercial Guidelines2024
4.2.24
Resolution No. 2024-RO233
Exhibit "A"
City of Lubbock, TX
Guidelines And Criteria Governing Tax Abatement For
Commercial Projects In Designated Enterprise Zones
In The City Of Lubbock
SECTION I. General Purpose:
The City of Lubbock (City) 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 City recognizes that these objectives are generally served
by enhancement and expansion of the local economy. The City 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 City
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
City is under any obligation to provide tax abatement to any specific applicant
(V.T.C.A. 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. All tax
abatement agreements must ensure that the periods and terms of abatement are
directly proportional to the capital expenditures for improvements and the number
of permanent, full-time jobs retained or created.
SECTION II. Definitions:
As used within these guidelines and criteria, the following words or phrases shall
have the following meaning:
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 any period of time
up to, but not to exceed, five (5) years.
2. Abatement Agreement: A contract between a property owner and the City
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).
3. Base Year Value: The assessed value of property eligible for tax abatement
as of January 1 preceding the execution of a Tax Abatement Agreement as
herein defined.
4. Commercial: Retail, service, or office.
5. Designated Enterprise Zones: Enterprise zones in which the City will, on a
case -by -case basis, give consideration to providing commercial tax
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abatement, as authorized by V.T.C.A., Tax Code, Chapter 312, as stimulation
for economic development. The eligible designated Enterprise Zones are:
Enterprise Zone Block Groups:
Census Tract 2.02 Block Groups 1 and 2
Census Tract 3.01 Block Groups 1, 2, and 3
Census Tract 6.07 Block Groups 1 and 2
Census Tract 9.01 Block Group 1
Census Tract 10.00 Block Groups 1 and 2
Census Tract 12.00 Block Groups 1, 2 and 3
Census Tract 13.00 Block Groups 1, 2, and 3
Census Tract 14.01 Block Groups 1, 2 and 3
Census Tract 14.02 Block Group 1
Census Tract 23.02 Block Groups 1 and 2
Census Tract 24.01 Block Groups 1, 2 and 3
Census Tract 24.02 Block Group 2
6. Expansion of Existing Facilities or Structures: The addition of buildings,
structures, machinery or equipment to a Facility.
7. Existing Facility or Structure: A Facility as of the date of execution of the
Tax Abatement Agreement, located in or on Real Property eligible for tax
abatement.
Facility: The improvements made to Real Property eligible for tax abatement
and including the building or structure erected on such Real Property and/or
any Tangible Personal Property to be located in or on such property.
9. Improvements to Real Property or Improvements: The construction,
addition to, structural upgrading of, replacement of, or completion of any
facility located upon, or to be located upon, Real Property, as herein defined,
or any Tangible Personal Property placed in or on said Real Property.
10. Modernization/Renovation of Existing facilities: The replacement or
upgrading of existing facilities.
11. New Facility: The construction of a Facility that has not previously existed
within the affected jurisdiction on previously undeveloped real property
eligible for tax abatement.
12. New Permanent Job: A new employment position created by a business that
has provided employment to an employee of at least 1,820 hours annually and
intended to be an employment position that exists during the life of the
abatement.
13. Owner: The record title owner of Real Property or the legal owner of
Tangible Personal Property. In the case of land leased from the City or
buildings leased from a private party or tax exempt property, the lessee shall
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be deemed the owner of such leased property together with all improvements
and Tangible Personal Property located thereon.
14. Productive Life: The number of years a Facility is expected to be in service.
15. Real Property: Land on which Improvements are to be made or fixtures
placed.
16. Tangible Personal Property: Any Personal Property, not otherwise defined
herein, and which is necessary for the proper operation of the Facility.
SECTION III. 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 City.
SECTION IV. Criteria and Guidelines for Tax Abatement:
Any type of Facility will be eligible for tax abatement consideration provided such
Facility meets the following guidelines and criteria:
1. 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
jobs in the community.
2. Creation of new value: Abatement may only be granted 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;
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(b) inventories or supplies;
(c) tools;
(d) furnishings and other forms of movable personal property;
(e) vehicles;
(f) aircraft;
(g) housing (single family and multi -family);
(h) boats;
(i) property owned by the State of Texas or any state agency; and,
(j) property owned or leased by a member of the City Council who did not have
an active tax abatement in place before becoming a member of the
governing body.
6. In order for a Facility to qualify for abatement, the following conditions must
apply:
(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.
7. The amount and term of abatement shall be determined, at the City Council's
discretion, 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 City in all cases.
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 II(5), and the tax abatement application is filed with the City before
construction begins.
9. The minimum economic qualification for tax abatement shall be as follows:
(a) $5 million investment, and
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(b) Twenty-five (25) new permanent jobs and at least 30% of the business' new
employees in the zone are residents of any zone within the City.
10. Notwithstanding any of the requirements set forth in Section 9 above, the
Lubbock City Council upon the affirmative vote of three -fourths (3/4) of its
members may vary any of the above requirements when it is demonstrated by
the applicant for tax abatement that the variation is in the best interest of the
City to do so, and will enhance the economic development of the City. By way
of example only, and not by limitation, the Lubbock City Council may consider
the following or similar terms in determining whether a variance shall be
granted:
(a) That the increase in productivity of the Facility will be substantial and hence
directly benefit the economy.
(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 City.
(e) Any other evidence tending to show a direct economic benefit to the City.
11. Taxability:
(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 City 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.
(b) All ineligible property, if otherwise taxable as herein described, shall be
fully taxed.
12. The Lubbock City Council 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 Lubbock City Council does not:
(a) Limit the discretion of the Lubbock City Council to decide whether to enter
into a specific Tax Abatement Agreement;
(b) Limit the discretion of the Lubbock City Council to delegate to its
employees the authority to determine whether or not the Lubbock City
Council should consider a particular application or request for tax
abatement; or,
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(c) Create any property, contract, or other legal right in any person to have the
Lubbock City Council 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. The City shall have full authority to request
any additional information from the applicant that the Lubbock City Council
deems necessary to assist it in considering such application.
SECTION V. Tax Abatement Agreement:
The Tax Abatement Agreement may be executed between the owner and the
City. A Tax Abatement Agreement shall:
(a) Establish and set forth the Base Year assessed value of the property for
which tax abatement is sought.
(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(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 proposed
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.
(h) Provide for the portion of the value of the improvements to Real Property
or improvements to be abated. This determination is to be made consistent
with the provisions of Section IV(5) of these guidelines and criteria as
hereinabove set forth.
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(i) Provide for the commencement date and the termination date. In no event
shall the commencement date occur prior to 90 percent completion of the
project (both Real and Personal property). In no event shall the termination
date exceed a period of five (5) years from the commencement date.
0) 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 City.
(k) Provide a legal description of the Real Property upon which improvements
are to be made.
(1) Provide access to and authorize inspection of the Real Property or
improvements by employees of the City, who have executed a Tax
Abatement Agreement with the 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
redevelopment of the zone during the period covered by the Tax Abatement
Agreement.
(n) Provide for contractual obligations in the event of default by the owner,
violation of the terms or conditions by the 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 Lubbock City
Council that the owner is in compliance with each applicable term of the
agreement.
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(q) Provide that the Lubbock City Council 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 (as required by V.T.C.A., Tax
Code, Section 312.2041) enters into an agreement for tax abatement under
V.T.C.A., Tax Code, Section 312.204, the Lubbock City Council 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 agreement 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 Section 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 VI. 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.
(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 the property.
(g) Address of the property.
(h) A proposed time schedule for undertaking and completing the proposed
improvements.
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(i) A general description stating whether the proposed improvements are in
connection with:
(1) the modernization of a facility (of any type herein defined); or,
(2) construction of a new facility; or
(3) expansion of a facility; or
(4) any combination of the above.
(j) 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)A statement certifying that the business, or a branch, division, or department
of the business, does not and will not knowingly employ an undocumented
worker.
(n) Any other information which the City deems appropriate for evaluating the
financial capacity of the applicant and compatibility of the proposed
improvements with these guidelines and criteria.
(o) Information that is provided to the City 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 the City after the agreement is
executed is not confidential. (V.T.C.A., Tax Code, Section 312.003).
(p) The City 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, as defined in
Section II(5), then they shall so notify the applicant and said application
shall then be returned to the applicant.
SECTION VII. Investment/Jobs Documentation
1. The investment commitment in the Tax Abatement Agreement will be verified
as follows:
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a. The City will request the value of the Real and Personal Property from the
Lubbock Central Appraisal Value, and if the value minus the base year,
meets the agreement commitment, it will serve as verification that the
investment met the requirement in the agreement; or
b. If the Lubbock Central Appraisal District value, minus the base year value,
does not meet the investment commitment in the agreement, the Company
will provide invoices documenting the actual investment to verify the
investment met the investment commitment in the agreement.
2. Confirmation of the job creation requirement will be verified as follows:
a. The company will provide the City with a copy of the State Employment
report filed with the State of Texas for the quarter ending after the date in
the contract that the jobs are required to be created.
b. Job creation will be audited annually to assure retention of jobs. Each year
during the City audit of Tax Abatement Agreements, the company will
provide the City with the 4th quarter employment report filed with the State
of Texas to confirm job retention. If the employment in the 4th quarter report
does not meet the requirement for retention of the created jobs, the City may
request the quarterly reports for the 1 st 2nd and 3rd quarters of that audit
year to determine compliance.
3. The City may request and the company shall promptly provide any additional
information that the City deems necessary to confirm that the company is in
compliance with the terms of the Tax Abatement Agreement.
SECTION VIII. Default Options
In the event that the applicant or owner has entered into a Tax Abatement
Agreement to make improvements as defined in Section IV(2) above, but fails
to undertake or complete such improvements; fails to create all or a portion of
the new jobs provided by the Tax Abatement Agreement; or is in default of any
of the terms or conditions contained in the Tax Abatement Agreement; then in
such event the City shall give the applicant or owner sixty (60) days notice of
such failure. The applicant or owner shall demonstrate to the satisfaction of the
City that the applicant or owner has commenced to cure such failure within the
sixty (60) days above mentioned. In the event the applicant or owner fails to
demonstrate that he is taking affirmative action to cure his failure, the City shall
have three options:
(a) The City may renegotiate the Tax Abatement Agreement with the applicant
or owner 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 City may determine that good cause exists to cancel the Tax Abatement
Agreement and all abatement of taxes shall terminate immediately; or
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(c) The City may terminate the Tax Abatement Agreement and recapture taxes
abated under Section IX, Recapture.
2. In any of the three options in Paragraph 1 above, the City shall determine
whether default has occurred by the applicant or owner in the terms and
conditions of the Tax Abatement Agreement and shall so notify all other
affected jurisdictions.
SECTION IX. Recapture
In the event that any type of facility, 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 term 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 the City by no later than January 31st of the
following year. Taxes abated in years prior to the year of termination shall be
payable to the City within sixty (60) days of the date of termination. The burden
shall be upon the applicant or owner to prove to the satisfaction of the City that
the discontinuance of producing goods or services was as a result of fire,
explosion, or other casualty or accident or natural disaster or other event beyond
the control of applicant or owner. In the event the applicant or owner meets
this burden, and the City is satisfied that the discontinuance of the production
of goods or services was the result of events beyond the control of the applicant
or owner, then such applicant or owner shall have a period of one � 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 31st of the following year. Taxes abated in years prior to the year
of termination shall be payable to the City within sixty (60) days of the date of
termination. The one year time period, hereinabove mentioned, shall
commence upon written notification from the City to the applicant or owner.
2. In the event that the applicant or owner has entered into a Tax Abatement
Agreement to make improvements to a facility of any type described in Section
1 above, but fails to undertake or complete such improvements or fails to create
all or a portion of the number of new jobs provided by the Tax Abatement
Agreement, then in such event the City shall give the applicant or owner sixty
(60) days notice of such failure. The applicant or owner shall demonstrate to
the satisfaction of the City, above mentioned, that the applicant or owner has
commenced to cure such failure within the sixty (60) days above mentioned. In
the event that the applicant or owner fails to demonstrate that he is taking
affirmative action to cure his failure, 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
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payable to the City by no later than January 31st of the following year. Taxes
abated in years prior to the year of termination shall be payable to the City
within sixty (60) days of the date of termination.
3. In the event that the City determines that the applicant or owner is in default of
any of the terms or conditions contained in the Tax Abatement Agreement, then
in such event the City 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 City 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 the City by no later than January 31st of the following
year. Taxes abated in years prior to the year of termination shall be payable to
the City within sixty (60) days of the date of termination.
4. hi the event that the applicant or owner allows ad valorem taxes on property
ineligible for tax abatement owed to the City, 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 terminate. Taxes abated during the calendar year in
which termination, under this section takes place, shall be payable to the City
by no later than January 31st of the following year. Taxes abated in years prior
to the year of termination shall be payable to the City 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 the City, relocates the business, for which tax abatement has
been granted, to a location outside of the designated Reinvestment Zone, then
in such event, the Tax Abatement Agreement shall terminate after sixty (60)
days written notice by the City to the applicant or owner. Taxes abated during
the calendar year in which termination, under this section takes place shall be
payable to the City by no later than January 31st of the following year. Taxes
abated in years prior to the year of termination shall be payable to the City
within sixty (60) days of the date of termination.
6. The date of termination as that term is used in this Section IX shall, in every
instance, be the 60th day after the day the City 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 applicant or owner within the sixty
(60) day notice period, the applicant or owner shall be responsible for so
advising the City and obtaining a release from the notice of default from the
City, failing in which, the abatement remains terminated and the abated taxes
must be paid.
7. In every case of termination set forth in Paragraphs 1, 2, 3, 4, and 5 above, the
City shall determine whether default has occurred by the applicant or owner in
the terms and conditions of the Tax Abatement Agreement and shall so notify
all other affected jurisdictions.
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8. In the event that a Tax Abatement Agreement is terminated for any reason
whatsoever, and taxes are not paid within the time period herein specified, then
in such event, the provisions of V.T.C.A., Tax Code, Section 33.01 will apply.
SECTION X. Miscellaneous:
1. Any notice required to be given by these criteria or guidelines shall be given in
the following manner:
(a) To the applicant or owner: written notice shall be sent to the address
appearing on the Tax Abatement Agreement.
(b) To the City: written notice shall be sent to the address appearing on the 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 City which
levies taxes of the amount of assessment.
3. Upon the completion of improvements made to Facility as set forth in Section
V(1) of these criteria and guidelines, a designated employee or employees of
the City shall have access to the Facility to ensure compliance with the Tax
Abatement Agreement.
4. A Tax Abatement Agreement may be assigned to a new owner, but only after
written consent has been obtained from the City.
5. These guidelines and criteria adopted by the Lubbock City Council are effective
for two years from the date adopted. At the end of the two-year term, these
guidelines and criteria may be readopted, modified, amended or rewritten 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 by resolution to become eligible to partici-
pate in tax abatement, then such affected jurisdiction shall adopt guidelines and
criteria by separate resolution forwarding a copy of both resolutions to all other
affected jurisdictions.
7. These guidelines only apply to the City of Lubbock and any company wishing
to apply for tax abatement from other taxing jurisdictions will need to contact
the applicable taxing jurisdiction for their criteria and guidelines and
requirements for applying for tax abatement.
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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 criteria interpreted accordingly.
9. The guidelines and criteria, once adopted by the City, may be amended or
repealed by a vote of three -fourths (3/4) of the members of the Lubbock City
Council during the two-year term in which these guidelines and criteria are
effective.
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