Consider and take action on Resolution No. 16-078 electing to participate in tax abatements in accordance with Sec. 312.002(a) of the Texas Tax Code.   (City Secretary)

The City of Texas City has had a tax abatement policy in the past. We allowed it to expire as we explored other alternatives, utilized Chapter 380 agreements, and investigated better tax abatement policies.  Working with a law firm that specializes in assisting cities in tax abatements, we are prepared to move forward.  This resolution is strictly to "announce" that the City Commission is open to allowing Tax Abatements as an incentive and it is required under Chapter 312 of the Texas Statutes before the City can proceed with the granting of any tax abatements.  At this time, while we do not have a tax abatement agreement pending, it adds one more incentive that we can offer in addition to the Chapter 380 agreements that the City and EDC has done recently.  We anticipate having the policy, guidelines and an application to present to the City Commission at the next City Commission meeting should this resolution be approved.