10&11 We-Pack Enterprise Proj - Laserfiche WebLink

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Section 2. That the City nominates We Pack Logistics, L.P. for enterprise project status. Section 3. That the following local incentives, at the election of the governing body, are or may be made available to the nominated project or activity of the qualified business: a)The City Council may provide certain tax incentives applicable to business enterprises in the zone(s) which are not applicable throughout the City as follows: 1)The City may refund to any qualified business located in such enterprise zone the amount of tax paid under the Municipal Sales and Use Tax (Texas Tax Code, Chapter 321) by the business and remitted to the Comptroller of Public Accounts up to the maximum extent authorized by Sections 2303.505 and 2303.506 of the Act, and for a period determined by the City, but which shall not exceed five (5) years; 2)The City may abate taxes on the increase in value of real property improvements and tangible personal property that locate in a designated enterprise zone up to 100% of the estimated total tax increase to be levied on the proposed property improvements, and such abatement shall not exceed a term of seven (7) years; 3)Tax increment financing (in lieu of tax abatement); 4)The city may offer low-interest loans to develop or revitalize the zone. b)Other incentives that may be negotiated on a case by case basis are as follows (the first 3 being offered only in the enterprise zone); 1)Waiver of development fees to enterprise zone businesses meeting minimum standards; 2)Accelerated zoning and permit procedures. Enterprise zone businesses will be processed upon receipt, before non-enterprise zone businesses already in hand; 3)Transfer of City-owned surplus land at below market prices for the public purpose of economic development; 4)Capital improvements in water and sewer facilities and road repair; 5)The City will apply for training/re-training grants for new permanent jobs as grants for new permanent jobs as available and appropriate to the industry; 6)One-stop permitting;