HomeMy WebLinkAboutIR 9606 INFORMAL REPORT TO CITY COUNCIL MEMBERS No. 9606
To the Mayor and Members of the City Council December 3, 2013
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SUBJECT: RENEW RELOCATION INCENTIVES POLICY
Purpose:
The purpose of this Informal Report is to inform City Council on the proposed renewal of the
Relocation Incentives Policy that will expire on December 15, 2013.
Background:
Businesses from time to time may be required to relocate from their current locations due to
"Major Public Infrastructure Projects" in the City. On December 20, 2005, the City Council
adopted the initial Relocation Incentives Policy creating a set of relocation incentives, including
tax abatement and development fee waivers, to be available to such businesses in an effort to
retain the businesses in the City (M&C G-15045). Each request for tax abatement incentives
under the Policy requires approval from the City Council. In order for a business to be eligible
under this Policy, the City Council must first pass a Resolution designating a public infrastructure
project impacting the business as a "Major Public Infrastructure Project," which will then allow for
the use of available relocation incentives under the Policy. The current designated "Major Public
Infrastructure Projects" include Southwest Parkway (SH-121T) (Resolution No. 3318-02-2006);
the Trinity Uptown Project (Trinity River Vision) (Resolution No. 3390-07-2006); the TEX Rail
Project (Resolution No. 4118-08-2012); and the 1-35 Corridor Expansion Project (also Resolution
No. 4118-08-2012).
Under State law, policies pursuant to which a municipality offers tax abatements expire after two
years. The current Relocation Incentives Policy was adopted by the City Council on December 6,
2011 (Resolution No. 4051-12-2011), to be effective from December 15, 2011 until December 15,
2013.
Recommendation:
Staff recommends approval of the Mayor and Council Communication to adopt a resolution
renewing the Relocation Incentives Policy. Once approved, the Relocation Incentives Policy will
be available for another two years through December 15, 2015. There are no proposed changes
to the current Relocation Incentive Policy.
Staff will bring forward an M&C to City Council on December 10, 2013 to adopt a resolution to
renew the Relocation Incentives Policy.
Tom Higgins
City Manager
ISSUED BY THE CITY MANAGER FORT WORTH, TEXAS