HomeMy WebLinkAboutRES 96-309 RESOLUTION NO.
WHEREAS, as part of its obligation to the City in the area of economic
development, the Beaumont Chamber of Commerce has made a request that the City
consider a policy concerning payments in lieu of taxes for certain industries located within
the extraterritorial jurisdiction of the City of Beaumont. Specifically, projects in excess of
$10,000,000 would not be required to contract for payments in lieu of taxes for a period
of seven (7) years with the waiver period to be no more than five (5) calendar years
following the timely and successful completion of the project; and,
WHEREAS, the City Council has considered this policy and decided to adopt it;
NOW, THEREFORE, BE IT RESOLVED BY THE
CITY COUNCIL OF THE CITY OF BEAUMONT:
THAT it is hereby established as a policy of the City of Beaumont that industries who
construct projects in excess of$10,000,000 within the extraterritorial jurisdiction of the City
of Beaumont will not be required to make payments in lieu of taxes as allowed by the
statutes of the State of Texas for a maximum period of seven (7) years. Said period being
a maximum of five (5) calendar years following the timely and successful completion of the
project.
PASSED BY THE CITY COUNCIL of the City of Beaumont on this the le- day
of 1996.
- Mayor -