On March 22, 2022, the City Council approved the first reading of the ordinance. The City of Lubbock has received an application for industrial tax abatement from Leprino Foods Company for the construction of a new facility and acquisition of machinery and equipment. The property is not located in an enterprise zone, so it will require a reinvestment zone be created at the location of the facility in order to consider a tax abatement. As required by Chapter 312 of the Tax Code, Section 312.201 (d) a public hearing is being held prior to this ordinance to discuss the designation of the Leprino Foods Reinvestment Zone. A governing body may not adopt an ordinance designating an area as a reinvestment zone until a public hearing is held and have found that:
- The improvements sought are feasible and practical;
- It would be a benefit to the land to be included in the zone and the municipality to be included in the zone; and
- This zone meets one of the criteria for reinvestment zones.
The City Council approved the Notice of Intent to hold the public hearing at the March 8, 2022 City Council meeting. The notice was forwarded to the other taxing jurisdictions on March 10, 2022. The public hearing was held prior to this item. This item is the 3rd step in the process to designate a Reinvestment Zone.
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