Scribd Logo
Fazer o upload

Bem-vindo(a) ao Scribd!

  • American Precision Ammunition Tax Abatement Proposal

    Enviado por

    MineralWellsIndex
    57 visualizações49 páginas
    The information Mineral Wells City Council will use to consider a tax abatement proposal for American Precision Ammunition LLC.

    Direitos autorais

    © © All Rights Reserved

    Formatos disponíveis

    PDF ou leia online no Scribd

    Você considera este documento útil?

    Este conteúdo é inapropriado?

    Denunciar este documento
    The information Mineral Wells City Council will use to consider a tax abatement proposal for American Precision Ammunition LLC.

    Direitos autorais:

    © All Rights Reserved
    Baixe no formato PDF ou leia online no Scribd
    Sinalizar o conteúdo como inadequado
    57 visualizações49 páginas

    American Precision Ammunition Tax Abatement Proposal

    Enviado por

    MineralWellsIndex
    The information Mineral Wells City Council will use to consider a tax abatement proposal for American Precision Ammunition LLC.

    Direitos autorais:

    © All Rights Reserved
    Baixe no formato PDF ou leia online no Scribd
    Sinalizar o conteúdo como inadequado
    de 49
    CITY OF MINERAL WELLS ‘STATE OF TEXAS § COUNTY OFPALOPINTO § RESOLUTION A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF MINERAL WELLS, ‘TEXAS, DECLARING THAT THE CITY ELECTS TO PARTICIPATE IN TAX ABATEMENT. WHEREAS, the City of Mineral Wells, Texas is a home rule city acting under is charter ‘adopted by the electorate pursuant to Articie XI, Section § of the Texas Constitution and Chapter 9 of the Local Government Code: and WHEREAS, Chapter 312 of the Texas Tax Code govems the abatement of ad valorem taxes by Texas cities and requires that prior to granting a tax abatement the City must pass a resolution declaring its intent to participate in tax abatement; and WHEREAS, the City of Mineral Wells desires to provide for tax abatement to promote ‘economic development through the establishment of reinvestment zones, NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF MINERAL WELLS, TEXAS, THAT: SECTION 4. ‘The City of Mineral Wells hereby elects to become eligible to participate in tax abatoment under Chapter 312 of the Texas Tax Code. SECTION 2, ‘This Resolution shall become effective from and after its approval by the City Council PASSED AND APPROVED ON THIS THE 5th DAY OF July, 2016. ‘ike Allen, Mayor Attest: ‘Juanita Formby, Cty Clerk “12. CITY OF MINERAL WELLS ‘STATE OF TEXAS § county orPaLoPITO. | § RESOLUTION ‘A RESOLUTION OF THE CITY OF MINERAL WELLS, TEXAS APPROVING GUIDELINES AND CRITERIA FOR TAX ABATEMENT. WHEREAS, the City of Mineral Wells is a home rule municipality; and WHEREAS, the City Council has heretofore passed a resolution stating thatthe City of Mineral Wells elects to become eligible to participate in tax abatement; and WHEREAS, Chapter 312 of the Texas Tax Code requires that prior to entering into a tex abatement agreement or designating an area as a reinvestment zone, the municjpaty must establish guidelines and criteria governing tax abatement agreements; and WHEREAS, the City Council has determined that the City of Mineral Wells General Tax ‘Abatement Policy establishes appropriate guidelines and criteria to govern tax abatements within the City NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF MINERAL WELLS, TEXAS: SECTION 1. ‘That the Cty of Mineral Wells General Tax Abatement Policy attached hereto as Exhibit A Is adopted as the guidelines and criteria governing tax abatement in the City of Mineral Well. ‘The General Tax Abatement Policy shall be effective for two years from the date of this resolution, Pursuant to state law, the guidelines and criteria may be amended or repealed only bya vote of 34ths of the members ofthe City Council SECTION 2. Ths resolution shall be effective immediately upon its passage and approval by the City “13. Council PASSED AND APPROVED this Sth day of July, 2016. ‘Mike Alon, Mayor Attest: ‘Taanita Formby, City Clerk oT Exhibit City of Mineral Wells General Tax Abatement Policy ‘Belay 2017 fuoagh December 31,2018 (Chapter 312 of the Texas Tax Code allows, but does not obligate or require, the City to grat @ tax abatement on the value added to a particular property on account ofa specific development projet thet rmeets the eligibility requirements set forth in this Policy. In order for the City to participate in tax abatement, the City is required to establish guidelines and criteria governing tax abatement agreements. ‘This Policy is intended to set forth those guidelines and criteria for persons or entities intersted in receiving a tax abatement from the ity. This Policy shall expire on December 31,2018, 1.2. General Higiilty Criteria. ‘A tax abatement can only be granted to persons or entities eligible fr tax abatement pursuant to Section '312.204(a) of the Texas Tax Code, which persons or entities ofthe effective date of this Policy are (@) the ower of texable real property ocated in «tax abatement reinvestment zone; or (ji) the owner of| leasehold interest in real property located in a tax abatement reinvestment zone. Although the City will con ility requirements set forts inthis ‘+ result in the creation of new full-time jobs for Mineral Wells and Palo Pinto County residents; and ‘result in development with litle or no additional cost othe City while producing a positive economic impact to the tax paying citizens of Mineral Wells and Pa Pinto ‘County; and ‘have a positive impact on Mineral Wells and Palo 13. General clusions and Limitations. 413.41, Lesees of Real Property, ‘A person or enfity seeking tax abatement on real property that is leased from a thied party should be ‘advised that, pursuant to state law, the City can only abut taxes on the increased value ofthe taxable leasehold interest in the eal property if any, and the increase in value of texable improvements and tangible personal property located on the real property and subject tothe leasehold interes, ian. Before spplying fora tex abatement from the City, such persons or entities should seek professional and legal guidance, and may wish to consult with the appraisal district having jurisdiction over the property in (question, as to whether their development projects wil result in a’ taxable leasehold interest in the property and, ifs, the anticipated value ofthat leasehold interest. 15- 132, Property Located in‘Tax Increment Reinvestment Zones TIF", ‘The City Counel has designated certain areas of the City as TIPS. This Policy does apply to property located in a TIF. However, a person or entity seeking tax abatement on property owned ot leased ina TIF should be advised that state law requires a TIF's board of directors and the governing bodies of all taxing jurisdictions contributing tax increment revenue to a TIF to approve a City tex abstement agreement on property located in that TIF before the agreement can take effect. 2, DEEINITIONS. Capitalized terms used in this Policy but not defined elsewhere shall have the following meanings: Abatement or Tax Abatement - full or partial exemption ffom ad valorem taxes on eligible txable real and personal property located in a Reinvestment Zone for a specified period on the diffrence between (the amount of increase in the appraised value (as reflected on the cerified tax ol of the appropriate county appraisal district) resulting from improvements begun aftr the execution of written ‘Tax Abetement Agreement and (i) the appraised value of such real estate prior to execution ofa written ‘Tax Abatement Agreement (as feflected on the most recent certified tax roll ofthe appropriate county appraisal district forthe year prior to the date on which the Tax Abatement Agreement was executed). Abatement Benefit Term ~The period of time specified in a Tax Abatement Agreement, bul not 12 ‘exceed ten (10) yeas, thatthe recipient ofa tax abatement may receive the Abatement. ‘Abatement Compliance Term — The peri of time speified in a Tax Abatement Agreement diring ‘which the recipient of a tux abatement must comply with the provisions and conditions of te Tax ‘Abstement Agreement and file an annual report withthe City which outlines and documents the extent of| the recipient's compliance with such provisions and conditions. Capital Investment - Only real & personal property improvements such 85, without limitation, new facilities and structures, site improvements, inftasructure improvements, facility expansion, fciity modemizaton, and utility installation CommerciaV/Industrial Development Project ~ A development project in which a facility or facilities ill be constructed or renovated on property that is or mess the requirements tobe zoned for eammercial or industil use pursuant tothe City’s Zoning Ordinance. Mineral Wells Company — A business that has Principal Office located within the comporate limits of the City that provides the product or service for which credit is sought for purposes of a specific commitment set forth in a given Tax Abatement Agreement. Principal Office— An office facility tht i fully operational and has sufficient equipment, supplies, and personnel to provide the product or service ofthe business in question to clients inthe City without Significant reliance on the resourees of another entity or affiite or of an auxiliary facility ofthe business hich is located outside the corporate limits ofthe ity. Reinvestment Zone ~ An area designated by the City as a tax abatement reinvestment zone in accordance with Chapter 312 ofthe Texas Tax Code. ‘Tax Abatement Agreement — A writen Agreement thatthe recipient of tax abatement must ele into With the City and that outlines the specifi terms and conditions pertaining to and governing the tax ‘To be eligible for tax abatement under this Policy, CommersiaVIndustrial Development Projects and Business Expansion Projects must have a minimum Cepital Investment of $5 million; and mec all of the (Commitments of Section 4of this Policy. To be eligible for property tax abatement, Commersia\Industial Development Projects and Business Expinsin Projects mesing the requirements fr in Secon 3 of his Poy shall commit provide 1¢ employment to a set number of full time jobs offered on the real property where the foulgoad haan 5. TAX ABATEMENT CALCULATION. ‘All Tex Abstement Agreements shall require the recipient to construct or cause construction of specific improvements on the real property that is subject to the abelement. Failure to construct these specific improvements atthe minimum Capital Investment expenditure and by the deadline established inthe Tax Abatement Agreement shall give the City the right to terminate the Tax Abatement Agreement, The mount ofa specific tax abatoment shall be negotisted on «case-by-case basis and specifically at foxth in the Tax Abatement Agreement. 6. TAX ABATEMENT IMPLEMENTATION, The term of a tx abatement shall be negotiated on a case-by-case basis and specified in the Tax ‘Abatement Agreement. The City will audit and determine the recipient's compliance with the tems and conditions of the Tax Abatement Agreement for each calendar year in which the tax abetanent is available. The Compliance Auaiting shall occur in January of each year and the agreed upon tex ‘abatement rate for the preceding year may be adjusted downward for that year ifthe agreed ‘upon employment level is less than the agreed upon level. The adjustment particulars shall bbe delineated in the Tax Abatement Agreement. ‘TAX ABATEMENT APPLICATION PROCEDURES. Each tax abatement application shall be processed in accordance with the following standards snd procedures: 74. Submission of Application. Ifa given development project qualifies for tx abstement pursuant tothe eligibility criteria detailed in Section 3 and Section 4 ofthis Policy, an applicant for tax abatement must complete and submit City ‘of Mineral Wells Tax Abatement Applicaton (with required attachments) (the “Application”), An Applicaton can be obtained from and should be submited to the Mineral Wells City Manager, 72. Application Review and Evaluation, “17 ‘The City staff will review an Application for accuracy and completeness. Once complete, the City Manager will evaluate an Application based on the perceived merit and value of the project, ‘including without limitation, the following crt ‘Types and number of new jobs created, including respective wage rates, and employee benefits packages; + Financial lity ofthe project; + The project's reasonably projected increase in the value ofthe tax base; + Costs tothe City (ouch as infastrcture participation, ee); + Remediation of an exis environmental problem on the real property; ‘+ Other items thatthe City may determine tobe relevant with respect tothe projec. Based upon the outcome of the evaluation, the City Manager Council. ‘resent the Application to the City 73. Consideration by City Council The City Council will consider the Application in an open meeting. Should the Council recommend spproval ofthe Application, City taf will provide Council a Tax Abatement Agiement including the terms of the Applicaton for Council's consideration. A Tax Abatement Agreement will nly be ‘considered by the City Council ifthe applicant has first executed the Tax Abatement Agreement. The City Council retains sole authority to approve or deny any Tax Abatement Agreement and is under ‘no obligation to approve any Appliction or Tax Abatement Agreement, 8, GENERAL POLICIES AND REQUIREMENTS, ‘Notwithstanding anything that may be interpreted to the contary herein the following general tems and concitions shall govern this Policy 8.1. The applicant fora tax abatement must provide evidence tothe City that demenstrates that a tx abatement is necessary forthe financial viability ofthe development project proposed 82. An applicant for tax abstement shall provide wage rates, employee benefit infomation forall position categories of employment tobe located in any facility covered by the Applicaton. 83. Unless otherwise specified in the Tax Abatement Agreement, the amount of eal property ‘twxes to be abated in given year shall not exooed one hundred fifty percent (150%) of the amount of ‘the minimum Capital Investment expenditure required by the Tax Abatement Agreement for ‘improvements to the real property subject to abatement multiplied by the City's tx rte in een for thet ‘sme year, and the amount of personal property txes to be abated in a given yexr shall not exceed one Ihundted fifty percent (150%) of the minimum value of personal property required by the Tax ‘Abatement Agreement tobe located on the real property, if any, subject to abatement multiplied by the ‘City’s tax rate in effect for that same ye 18: 8.4. ‘The owner of real property for which a Tax Abatement has been granted shall properly ‘maintain the property to assure the long-term economic viability ofthe project. In addition, ifs citation or citations for City Code violetions are issued against a project while a Tax Abatement Agreement is in effect, the amount of the tax abatement benefit will be subject to reduction, as provided inthe ‘Tax Abatement Agreement. 85. _ Ifthe recipient of a tn abatement breeches any ofthe terms or conditions ofthe Tax “Abatement Agreement and fails to cure such breach in eccordance withthe Tax Abatement Agesment, ‘the City shall have the right to terminate the Tax Abatement Agreement 8.6. As pert of the consideration under all Tax Abstement Agreements, the City shal have, ‘without limitation, the right to conduct an onsite inspection of the developmet project in each year uring the term of the Tax Abatement to verify compliance withthe terms and conditions ofthe Tax. Abatement Agreement. Any incidents of non-compliance will be reported to all taxing units with jurisdiction over the real property subject to abatement. 8.7. The recipient ofa tax abatement may not sell, assign, transferor otherwise cnvey its rights under a Tex Abatement Agreement unless otherwise specified in the Tax Abatement Agreement. A sal, assignment, leas, transferor conveyance ofthe real property thats subject to the abatement and which is not permitted by the Tax Abatement Agreement shall constitute a breach of the Tax “Abatement Agreement and may result in termination ofthe Tax Abatement Agreement and rcgptare of| any taxes abated aftr the date on which the breach occured. For additional information about his Tax ‘Abatement Policy, contact the Mineral Wells City Manager at 115 SW First Stet ~ Mineral Wells, ‘Texas 16067. Telephone contact (940) 328-7703. ORDINANCE NO. 2016-__ AN ORDINANCE OF THE CITY OF MINERAL WELLS, TEXAS, DESIGNATING A CERTAIN AREA WITHIN THE CITY OF MINERAL WELLS AS TAX ABATEMENT REINVESTMENT ZONE NUMBER FOUR; ESTABLISHING THE BOUNDARIES OF SUCH ZONE; ORDAINING OTHER MATTERS RELATING THERETO; AND PROVIDING AN EEFECTIVE DATE. ‘WHEREAS, the City Council ofthe City of Mineral Wells, Texas, (the “City”)desites to promote the economic development of the Wolters Industrial Park area of Mineral Welis by the creation of a reinvestment zone pursuant tothe Property Redevelopment and Tax Abatement Act, Chapter 312 of the Texas Tax Code, (the "Act"; and WHEREAS, in compliance with the Act, the City has called public hearing to hear public comments ‘on the creation ofthe proposed reinvestment zone and its benefits tothe City andthe propery in the reinvestment zone; and WHEREAS, pursuant tthe City Couneil’s adoption on July 5, 2016, by Resolution, as it may be ‘amended ftom time to time, the City of Mineral Wells, Texas (the “City”) has elected tobe eligible to partcipete in tax abatement and has established guidelines and criteria governing tax abatement agreements entered into between the City and various third parties, es authorized by and in accalance with the Property Redevelopment and Tax Abatement Act, codified in Chapter 312 of the Texas Tax Code (the “Code”; and WHEREAS, in compliance with the Act, notice of the public hearing was published inthe Miner Wells Index, a daily paper of general circulation in the City, such publication date being not ae than seven (7) days prior tothe date of public hearing (June 28, 2016); and WHEREAS, such hearing was convened at the time and place mentioned in the published notice, to wit, on the 5! day of July, 2016, at 6:00 p.m. atthe Counell Chambers in the City Hall Annex ofthe City of Mineral Wells, Texas, which hearing was then closed and ‘WHEREAS, the City, at such hearing, invited any intrested person, o his representative, t appear and contend for or against the creation of the reinvestment zone, the boundaties of the proposed reinvestment zone, whether all or part of te territory described by the metes and bounds description and depicted inthe City map showing propery parcel numbers which together are attached hereto 35 [Exhibit A should be included in such proposed reinvestment zone; and WHEREAS, all owners of property located within the proposed reinvestment zone end al taxing units and other interested persons were given the opportunity at such pubic hearing to protest the eration of the proposed reinvestment zone; and WHEREAS, in accordance with Sections 312.201(4)(2) and (6, notice ofthe Public Hearing was

    Você também pode gostar