HomeMy WebLinkAboutResolution 1537.;' ~~: ,:
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RESOLUTION N0. _~.J-J7
WHEREAS, the City of Fort Worth has elected to become
eligible to participate in tax abatement under Chapter 312 of the
Texas Tax Code and has established guidelines and criteria for
tax abatement to qualified commercial/industrial projects (the
"Policy-Statement"), which Policy Statement was adopted on August
1, 1989;
WHEREAS, the Texas Legislature amended Chapter 312 of the
Texas Tax Code, effective September 1, 1989;
WHEREAS, certain of the provisions in the Policy Statement
do not conform with the above referenced amendments to Chapter
312 of the Texas Tax Code; and
WHEREAS, in order to enhance the tax base and the local
economy, the Policy Statement should be amended to allow any
manufacturing, industrial or other project or enterprise that
meets the minimum eligibility requirements and that the City
Council determines to be in the best interests of the City to be
eligible for tax abatement.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
FORT WORTH, TEXAS:
SECTION I. THAT the City of Fort Worth hereby amends and
restates the Policy Statement for tax abatement to
qualified commercial/industrial projects in its
entirety as set forth on Exhibit "A", which
Exhibit "A" is incorporated herein as if copied in
its entirety, and is approved.
SECTION II. THAT the Policy Statement, as amended and restated
herein, shall govern all subsequent tax abatement
agreements for commercial/industrial projects.
SECTION III. THAT this resolution shall take effect from and
after its final date of adoption, and it is
accordingly so ordered.
CITY OF FORT WORTI;
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