(5)(b)
CITY COMMISSION AGENDA
- Meeting Date:
- 01/19/2011
- Title:
- Public Hearing on the Request for a Tax Abatement for a Del Papa Distribution Center Located Near the N.W. Intersection of I-45 and Century Blvd.
- Submitted By:
- Nick Finan, Management Services
- Department:
- Management Services
ACTION REQUEST (Brief Summary)
City Commission is requested to hold a public hearing on the request by Del Papa Holdings, LP for a Tax Abatement for a distribution center to be located near the northwest intersection of I-45 and Century Blvd.
BACKGROUND
Del Papa Holdings is requesting a tax abatement for 5 years that would have the following schedule: Year 1 - 74% abatement, Years 2-5 - 94% abatement. Based upon the City's Tax Abatement Policy, Del Papa meets the criteria to receive this schedule of abatements. The facility is a distribution center that will cost roughly $18 million to construct. The total estimate of the facility with personal property, etc. will be over $20 million. However, the eligible property that can be abated is only the construction costs and permanent equipment and machinery. It would not include the personal property or inventory. The city would continue to receive that portion of the property tax. Del Papa will house 176 employees at this site increasing economic activity in the area. More information is provided in the action item listed later on the agenda including the application, the Tax Abatement Guidelines, site plan, and renderings of the facility.