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Home My WebLink AboutR-1013-12-90RESOLUTION NO. 1013-12-90(R A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ALLEN, TEXAS, ADOPTING A POLICY STATEMENT FOR TAX ABATEMENT GUIDELINES; ESTABLISHING GUIDELINES AND OBJECTIVE AND SUBJECTIVE CRITERIA FOR EVALUATING TAX ABATEMENT APPLICATIONS; AND ESTABLISHING MINIMUM STANDARDS AND GUIDE -LINES FOR CONSIDERING TAX ABATEMENT APPLICATIONS. WHEREAS, the enhancement of the local economy is in the best interest of the citizens of Allen; and, WHEREAS, the provision of certain economic development incentives may encourage prospective and existing businesses and companies to locate or expand in Allen; and, WHEREAS, the establishment of specific criteria, guidelines and procedures are necessary to effectively and fairly administer tax abatement incentives; and, 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 ALLEN, TEXAS THAT: SECTION 1. The City of Allen hereby establishes a Policy Statement for Tax Abatement Guidelines, attached hereto as Exhibit "A" and incorporated herein; and SECTION 2. The criteria and guidelines established within the Policy Statement for Tax Abatement Guidelines shall expressly govern all subsequent tax abatement agreements, as required by State law. DULY PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF ALLEN, COLLIN COUNTY, TEXAS, ON THIS THE 20TH DAY OF DECEMBER, 1990. APPROVED: Farmer, MAYOR ATTEST: , Ju Mo son, CITY SECRETARY ATTACHMENT TO : RESOLUTION NO. 1013-12-90(R)' EXHIBIT "A" JANUARY 15, 1991 CITY OF ALLEN TAX ABATEMENT POLICY I. General Purpose and Objectives The City of Allen 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. Insofar as these objectives are generally served by the enhancement and expansion of the local economy, the City of Allen will, on a case-by-case basis, give consideration to providing tax abatement as a stimula- tion for economic development in Allen. It is the policy of the City of Allen that said consideration will be provided in accor- dance with the guidelines presented in this document. Nothing herein shall imply or suggest that the City of Allen is under any obligation to provide tax abatement to any applicant. All applicants shall be considered on a case-by-case basis. II. Joint Committee on Tax Abatement Requests 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 Allen, Allen Independent School District, Collin County Community College and Collin County Commissioners Court. The Mayor and Chair of the Economic Development Committee of the Allen City Council shall represent the City of Allen on this committee. The Joint Committee on Tax Abatement will review and discuss each request. Deliberation of the Joint Committee relative to the potential impact of a requested action will be based on information prepared by the requesting party in conjunction with the Economic Development Coordinator for the Allen Economic Development Alliance. On judging the potential impact of a request, the Joint Committee shall consider the degree to which the project furthers the Economic Development and general goals of the entities represented on the Joint Committee. Joint Committee represent- -2- -tives from each taxing entity are responsible for (1) informing their representative colleagues of the request; (2) developing a recommendation for consideration by the respective governing body and (3) advising the Economic Development Coordinator of Allen regarding the disposition of the request. III. Guidelines for Tax Abatement The primary issue determining whether or not tax abatement will be approved is the value of structure to be added. Secondary issues such as the creation of jobs, financial implications and community development projections will be considered in requests for tax abatement. Figure 1 presents guidelines regarding the level of value added, the years of abatement and the percent of abatement. Value of Structure Added Figure 1 Years of Abatement Percent of Abatement $125,000,000 10 25% 110,000,000 9 25% 95,000,000 8 25% 80,000,000 7 25% 65,000,000 6 25% 50,000,000 5 25% 35,000,000 4 25% 20,000,000 3 25% 5,000,000 2 25% -3 - IV. Tax Abatement Procedures The procedures as hereinafter delineated shall be utilized in the implementation of the tax abatement program of the City of Allen. Tax Abatement applicants shall complete and submit an application for tax abatement as prescribed by the Economic Development Coordinator for the City of Allen. While the specific contents of the application may vary, it is expected that the information requested will reveal 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; and provide a complete legal description if the property is described by meets and bounds. Applicants shall complete all information detailed in this document or as may be required and submit them to the Economic Development Coordinator, One Butler Circle, Allen, TX 75002. Application Review Steps A. All information in the application package detailed above will be reviewed for completeness and accuracy. Additional infor- mation may be requested as needed. B. The application will be distributed to the appropriate City departments for internal review and comments. Additional information may be requested as needed. C. Copies of the complete application package and staff comments will be provided to the Joint Committee on Tax Abatement. Consideration of the Application D. The Joint Committee on Tax Abatement will consider the application at a regular or called meeting(s). Additional information may be requested as needed. E. The findings of the Joint Committee on Tax Abatement will be forwarded, with all relevant materials, to the chief administrative officer of each taxing entity. F. The City Council a public hearing ment zone. -4- of Allen may consider a resolution calling to consider establishment of a tax reinvest - G. The City Council of Allen may hold the public hearing and determine whether the project is "feasible and practical and would be of benefit to the land to be included in the zone and to the municipality." H. The City Council of allen 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. I. 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 tax abatement. J. The governing bodies of Allen Independent School District, Collin County and Collin County Community College may consider ratification of and participation in the tax abatement agreement between the City of Allen and the applicant. A RESOLUTION OF THE ALLEN INDEPENDENT SCHOOL DISTRICT, ALLEN, TEXAS, SUPPORTING A POLICY STATEMENT FOR TAX ABATEMENT GUIDELINES AS ADOPTED BY THE CITY COUNCIL OF THE CITY OF WjL ALLEN, TEXAS WHEREAS, the enhancement of the local economy is in the best interest of the citizens of Allen; and, WHEREAS, the provision of certain economic development incen- tives may encourage prospective and existing businesses and com- panies to locate or expand in Allen; and, WHEREAS, the establishment of specific criteria, guidelines and procedures are necessary to effectively and fairly administer tax abatement incentives; and, WHEREAS, State law requires the adoption of criteria and guide- lines governing the establishment of tax abatement agreements, NOW, THEREFORE BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE ALLEN INDEPENDENT SCHOOL DISTRICT THAT: The Allen Independent School District supports the Policy Statement for Tax Abatement Guidelines established by the City of Allen, attached hereto as Exhibit "A" and incorporated herein. DULY PASSED AND APPROVED BY THE BOARD OF TRUSTEES OF THE ALLEN INDEPENDENT SCHOOL DISTRICT, COLLIN COUNTY, TEXAS, ON THIS 21ST DAY OF JANUARY 1991. APPROVED: ames D. Kerr, President Board of Trustees ATTEST: ary Evan ecretary Board of kustees