Consider and take action on Resolution 17-002, establishing eligibility for the City of Texas City to participate in tax abatement; making certain findings of fact; adopting guidelines and criteria for certain tax abatement agreements in accordance with Chapter 312 of the Tax Code. (Management Services)

 

In October, the City Commission approved the city moving forward with creating a new tax abatement program.  To better position ourselves, this policy allows us to negotiate with each prospect to determine what would be best for both the City and Prospect.  In many cases, a tax abatement would be accompanied with a Chapter 380 agreement and maybe an additional agreement to insure the City receives the best benefit from the Prospect.