Title
Consideration of and action on an ordinance scheduling a public hearing for December 3, 2024, at 7:30 pm to reauthorize the tax abatement ordinance.
Body
Summary:
The City last amended its tax abatement guidelines and criteria by adoption of attached Ordinance 4381 on January 3, 2023 per Chapter 312 of the Local Government Code, the Texas Property Redevelopment and Tax Abatement Act. Section 312.002(c) of the Act states: “The guidelines and criteria adopted under this section are effective for two years from the date adopted. During that period, the guidelines and criteria may be amended or repealed only by a vote of three-fourths of the members of the governing body.” Section 312.002(c-1) states: “Before the governing body of a taxing unit may adopt, amend, repeal, or reauthorize guidelines and criteria, the body must hold a public hearing regarding the proposed adoption, amendment, repeal, or reauthorization at which members of the public are given the opportunity to be heard.”
Staff is recommending a public hearing to reauthorize the tax abatement ordinance be scheduled on December 3, 2024, at 7:30 pm. There are no changes to ordinance and staff is asking Council to reauthorize the ordinance for the additional two-years.
Fiscal/Budgetary Impact:
N/A.
Recommended action
Schedule a public hearing on reauthorizing the tax abatement ordinance on December 3, 2024 at 7:30 pm.