File #: 22-4725    Version: 1 Name: Public Hearing and Resolution - A Resolution of the City of Mansfield, Texas Approving a Policy Statement for Tax Abatement
Type: Resolution Status: Passed
File created: 6/9/2022 In control: City Council
On agenda: 7/11/2022 Final action: 7/11/2022
Title: Resolution - Public Hearing on a Resolution of the City of Mansfield, Texas Approving a Policy Statement for Tax Abatement
Sponsors: Richard Nevins
Attachments: 1. Resolution, 2. 2022 Tax Abatement Policy

Title

Resolution - Public Hearing on a Resolution of the City of Mansfield, Texas Approving a Policy Statement for Tax Abatement

 

Requested Action

Approve the Resolution readopting the current policy for tax abatements for the next two years

 

Recommendation

Approve the Resolution readopting the current policy for tax abatements for the next two years

 

Description/History

The State of Texas requires that cities readopt their statements of policy for tax abatements every two years. The current policy was adopted in 2020. Staff is not recommending any changes to the current policy.

 

Justification

This is a statutory requirement and provides guidance for economic development incentives.

 

Funding Source

N/A

 

Prepared By

Richard Nevins, Director Economic Development, 817-728-3652