Loading...
HomeMy WebLinkAboutR88-212201 RESOLUTION NO. R88-212 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PLAINVIEW, TEXAS, ADOPTING A COMPREHENSIVE POLICY STATEMENT ON ECONOMIC DEVELOPMENT INCENTIVES; ESTABLISHING OBJECTIVE AND SUBJECTIVE CRITERIA FOR EVALUATING INCENTIVE APPLICATIONS; ESTABLISHING MAXIMUM VALUES OF INCENTIVES TO BE PROVIDED; ESTABLISHING PROCEDURAL GUIDELINES FOR CONSIDERING INCENTIVE APPLICATION; ESTABLISHING GUIDELINES AND CRITERIA GOVERNING TAX ABATEMENT AGREEMENTS. WHEREAS, the enhancement of the local economy is in the best interest of the citizens of Plainview; WHEREAS, the provision of certain economic development incentives may encourage perspective businesses and companies to locate in Plainview, or existing businesses and companies to expand; WHEREAS, the establishment of specific criteria, guidelines and procedures are necessary to effectively and fairly administer the provision of economic development incentives; WHEREAS, State Law requires the adoption of criteria and guidelines governing the establishment of tax abatement agreements. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Plainview, Texas: That the City of Plainview hereby establishes a Comprehensive Policy Statement on economic development incentives, attached hereto as "Exhibit A"; That the criteria and guidelines established within the Comprehensive Policy Statement on economic development incentives shall expressly govern all subsequent tax abatement agreements as required by State Law. PASSED AND APPROVED this 22nd day of November, L98~. E.V. Ridlehuber, Mayor A~I~ST: Carla Reese, City Secretary J/~s P. ,~ff~, ~Manager APPROVED AS TO FORM: ~ney 202 CITY OF PLAINVIEW POLICY STATEMENT FOR TAX ABATEMENT I. GENERAL PURPOSE AND OBJECTIVES The City of Plainview is committed to the promotion of high quality development in all parts of the City; and to an ongoing improvement in the quality of life for its citizens. In so far as these objectives are generally served by the enhancement and expansion of the local economy, the City of Plainview will, on a case-by-case basis, give consideration to providing tax abatement as a stimulation for economic development in Plainview. It is the policy of the City of Plainview that said consideration will be provided in accordance with the procedures and criteria outlined in this document. Nothing herein shall imply or suggest that the City of Plainview is under any obligation to provide tax abatement to any applicant. All applicants shall be considered on a case-by-case basis. II. CRITERIA Any request for tax abatement shall be reviewed by the Joint Committee on Tax Abatement, said Committee being comprised of two elected officials from each of the following entities: City of Plainview, Plainview Independent School District and Hale County, and one ex-officio member from both the Plainview/Hale County Industrial Foundation and Plainview Chamber of Commerce. 1 of 7 203 The Joint Committee on Tax Abatement serves as a recommending body to the three taxing entities regarding whether economic development incentives should be offered in each individual case. Their recommendations shall be based upon a subjective evaluation of the following criteria which each applicant will be requested to address in narrative format. Employment Impact How many jobs will be brought to Plainview? what types of jobs will be created? What will the total annual payroll be? Fiscal Impact How much real and personal property value will be added to the tax roles? How much direct sales tax will be generated? How will this project affect facilities? existing business and/or office What infrastructure construction would be required? 2 of 7 204 What is the total annual operating budget of this facility projected to be? Community Impact What effect would the project have on the local housing market? What environmental impact, if any, wily be created by the project? How compatible is the project with the City's Comprehensive Plan? III. VALUE OF INC~YIVES The subjective criteria outlined in Section II will be used by the Joint Committee on Tax Abatement in determining whether or not it is in the best interest of the affected taxing entities to recommend that tax abatement be offered to a particular applicant. Specific considerations will include the degree to which the individual project furthers the goals and objectives of the community, as well as the relative impact of the project. Once a determination has been made that a tax abatement should be offered, the value and term of the abatement will be determined by referencing the following table: 3 of 7 205 Percent of Increased Value to be Abated Percent Abated is Based on Greater of: Number of new Capital Fulltime 0-2 3-5 6-7 Cost of Permanent Jobs yrs. yrs. yrs. Project or Created 25% 25% 25% $ 150,000 - $1,000,000 15 - 25 50% 25% 25% 1,000,001 - 2,500,000 26 - 50 75% 50% 25% 2,500,001 - 7,500,000 51 - 75 100% 75% 50% 7,500,001 - 10,000,000 76 - 100 100% 100% 75% 10,000,001 - 12,000,000 101 - 200 Projects which exceed a capital investment of $12,000,000 or create more than 200 jobs will be individually negotiated. IV. PROCEDURAL GUIDELINES Any person, organization, or corporation desiring that Plainview consider providing tax abatement to encourage location or expansion of operations within the City limits of Plainview shall be required to comply with the following procedural guidelines. Nothing within these guidelines shall imply or suggest that Plainview is under any obligation to provide tax abatement in any amount or value to any applicant. Preliminary Application Steps A. Applicant shall complete the attached "Application for Tax Abatement." B. Applicant shall address all criteria questions outlined in Section II above in letter format. 4 of 7 206 C. Applicant shall prepare a plat showing the precise location of the property, all roadways within 500 feet of the site, and all existing land uses and zoning within 500 feet of the site. D. If the property is described by metes and bounds, a complete legal description shall be provided. E. Applicant shall complete all forms and information detailed in items A thru D and submit them to the City Manager, City of Plainview, 901 Broadway, Plainview, Texas 79072. Application Review Steps F. Ail information in the application package detailed above will be reviewed for completeness and accuracy. Additional information may be requested as needed. G. The application will be distributed to the appropriate City Departments for internal review and comment. Additional information may be requested as needed. H. Copies of the complete application package and staff comments will be provided to the Joint Committee on Tax Abatement. 5 of 7 207 Consideration of the Application I. The Joint Committee on Tax Abatement will application at a Regular or called Meeting(s). information may be requested as needed. consider the Additional J. The recommendation of the Joint Committee on Tax Abatement will be forwarded, with all relevant materials, to the Chief Administrative Officer of each taxing entity. K. The City Council of Plainview may consider a Resolution calling a public hearing to consider establishment of a tax reinvestment zone. L. The City Council of Plainview may hold the public hearing and determine whether the project is "feasible and practical and would be a benefit to the land to be included in the zone and to the municipality." M. The City Council of Plainview may consider adoption of an Ordinance designating the area described in the legal description of the proposed project as a commercial/industrial tax abatement zone. N. The City Council may consider adoption of a Resolution approving the terms and conditions of a contract between the City and the applicant governing the provision of the tax abatement. 6 of 7 208 O. The governing bodies of Plainview Independent School District, and Hale County may consider ratification of and participation in the Tax Abatement Agreement between the City of Plainview and the applicant. 7 of 7 CITY OF PLAIN-VIEW APPLICATION FOR TAX ABATENF. NT Propert¥Owner Mailing Address Telephone Number Property Owner's Representative Mailing Address Telephone Number Property Address (Provide attachment if by metes and bounds) 4. Located Within: City of Plainview? Plainview ISD Hale County 5. Description of Project: 6. Date projected for occupation of project/initiation of operations: 7. Narrative response to criteria questions in Section II attached?