Title
Consideration of and action on an ordinance calling a public hearing on an ordinance amending the local incentives that may be offered to qualified businesses participating in the Texas Enterprise Zone Program.
Body
Summary:
Fiscal/Budgetary Impact:
It is proposed that the list of possible incentives for Texas Enterprise Zone projects be expanded and that two (2) Shell projects be nominated as Enterprise projects under the Texas Enterprise Zone program. These projects are as follows:
1) Refinery project
* Name of legal entity for nomination- Deer Park Refining Limited Partnership
* Amount of capital investment over 5-year designation period- $250 million
* Number of retained jobs- 500
2) Chemical project
* Name of legal entity for nomination- Shell Chemical L.P.
* Amount of capital investment over 5-year designation period- $150 million
* Number of retained jobs- 500
The Enterprise Zone program is very competitive and the selections are made on a point rating system. The more incentives, the more points the nomination scores in the selection process. Local incentives are established by city ordinance. The City previously listed incentives in 2009 by Ordinance #3302 and in 2011 by Ordinance #3419. The City has previously sponsored three Enterprise Zone nominations for the following local businesses; Shell Refinery, Lubrizol, Rohm & Haas Texas, Inc.
The following is the proposed timeline for the May 1st and May 15th meetings:
1. May 1, 2018 Council Workshop: Discuss the Enterprise Zone incentives and the 2 project nominations.
2. May 1, 2018 Regular Council Meeting: Call for a public hearing on the additional Enterprise Zone incentives for May 15, 2018.
3. May 15, 2018 Regular Council Meeting: conduct a public hearing on additional Enterprise Zone incentives.
4. May 15, 2018 Regular Council Meeting: approve ordinance for additional Enterprise Zone incentives.
5. May 15, 2018 Regular Council Meeting: approve resolution nominating the Deer Park Re...
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