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