Title
Resolution - A Resolution Approving, Designating and Commencing a Qualified Hotel Project Pursuant to Texas Tax Code Ch. 351; and Providing an Effective Date
Requested Action
To consider the Resolution
Recommendation
To Approve the Resolution
Description/History
As part of the state's amendment to Chapter 351 of the Texas Tax Code in 2023, the City of Mansfield was added to the language as defined in the Qualified Hotel section. This will allow the return of state revenues from sales tax and hotel occupancy tax based on parameters established in the project.
Justification
To allow for state funding to come back to various projects in Harvest Point.
Funding Source
N/A
Prepared By
Jason Moore, Executive Director of Economic Development