HomeMy WebLinkAbout2021/01/26-Attachments-210126_TaxAbatement_Resolution (1).PDFA Resolution
NO.
PROVIDING THAT THE CITY OF FORT WORTH ("CITY")
ELECTS TO BE ELIGIBLE TO PARTICIPATE IN TAX ABATEMENT
AUTHORIZED BY CHAPTER 312 OF THE TEXAS TAX CODE AND
ESTABLISHING A TAX ABATEMENT POLICY GOVERNING
CERTAIN TAX ABATEMENT AGREEMENTS
WHEREAS, a municipality may enter into tax abatement agreements authorized
by Chapter 312 of the Texas Tax Code ("Code") only if the governing body of the
municipality has previously adopted a resolution stating that the municipality elects to
be eligible to participate in tax abatement and has established guidelines and criteria
governing tax abatement agreements ("Tax Abatement Policy"); and
WHEREAS, pursuant to the Code, a Tax Abatement Policy is effective for two (2)
years from the date of its adoption; and
WHEREAS, the City Council's Tax Abatement Policy for all tax abatements other
than those granted pursuant to the Neighborhood Empowerment Zone Policy (Resolution
No. 5040-01-2019) will expire on January 28, 2021;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF FORT WORTH, TEXAS:
Section 1. That the City hereby elects to be eligible to participate in tax
abatement in accordance with Chapter 312 of the Code.
Section 2. That the City hereby adopts the Tax Abatement Policy attached hereto
as Exhibit "A", which constitutes the guidelines, criteria, and procedures governing tax
abatement agreements entered into by the City (other than those granted pursuant to the
Neighborhood Empowerment Zone Policy), to be effective from January 29, 2021
through January 28, 2023, unless earlier amended or repealed as required by the Code, as
amended.
Section 3. That this Tax Abatement Policy, as it may subsequently be amended,
will expressly govern all tax abatement agreements entered into by the City (other than
those granted pursuant to the Neighborhood Empowerment Zone Policy) during the
period in which this Tax Abatement Policy is in effect.
Adopted this 291" day of January 2021.
ATTEST:
By: ----------
Mary Kayser, City Secretary
EXHIBIT A
GENERAL TAX ABATEMENT POLICY