HomeMy WebLinkAboutR2012-009S:U_.egall0ur pocumentslResolutions1121Tax Abatement Policy.docx
RESOLUTION NO. R2� 12-009
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DENTON, TEXAS,
REPLACING A POLICY FOR TAX ABATEMENT FOR THE CITY OF DENTON TO
ESTABLISH GUIDELINES AND CRITERIA GOVERNING TAX ABATEMENT
AGREEMENTS; AND DECLARiNG AN EFFECTIVE DATE.
WHEREAS, on June 6, 2000, the City Council adopted guidelines and criteria, known as
the Denton Policy for Tax Abatement (sometimes referred to as "Policy"), passing by Resolution
No. R2000-028; and
WHEREAS, on May 1, 2001, the City Council amended the Policy to allow waiver of the
five million dollar threshold and the maximum tax abatement percentage; to define professional
positions; to make other changes as set forth in the amended Policy; and
WHEREAS, on August 19, 2003, the City Council amended the Policy to make
additional changes in the Policy and under the provisions of the Tax Code the Policy expired on
August 19, 2005; and
WHEREAS, on December 6, 2005, the City Council amended the Policy to make
additional changes in the Policy and under the provisions of the Tax Code the Policy expired on
August 19, 2005; and
WHEREAS, in accordance with Chapter 312 of the Texas Tax Code requiring that tax
abatement policies be adopted every two years, the Policy was adopted on February 5, 2008; and
WHEREAS, on Apri120, 2010, the City Council axnended the Policy to make changes in
the Policy and under the provisions of the Tax Code the Policy expired on February 5, 2010; and
WHEREAS, the City Council desires to promote economic development within Denton;
and
WHEREAS, providing tax abatement and other economic development incentives within
the City and its extraterritorial jurisdiction will likely contribute to the economic development of
Denton by encouraging major investment, the creation of jobs, and other economic development
benefits; and
WHEREAS, the Property Development and Tax Abatement Act, Chapter 312 of the Tex.
Tax Code, allows the city to establish its own criteria for tax abatement and the City has
previously adopted guidelmes for tax abatement by passing resolutions Nos. R90-018, R98-004,
R2000-028, R2001-020 and R2003-021, R2005-057, R2008-003, R2010-009; and
WHEREAS, the City Council deems it in the public interest to continue to be eligible for
participation in tax abatement and to adopt policies, guidelines and criteria governing tax
abatement agreements to be lcnown as the Denton Policy for Tax Abatement; NOW,
THEREFORE,
THE COUNCIL OF THE CITY OF DENTON HEREBY RESOLVES:
SECTION 1. The polices, guidelines and criteria found in the Denton Policy for T�
Abatement, attached hereto as Exhibit A and made a part of this Resolution and incorporated
herein for all purposes, are in all things approved and adopted. From and after the effective date
of this Resolution, the attached Denton Policy for T� Abatement shall constitute policy
guidelines and criteria governing tax abatement agreements for the City of Denton in accordance
with Chapter 312 of the Tex. Tax Code.
SECTION 2. Pursuant to Tex. Tax Code Section 312.002(c) the guidelines and criteria
adopted herein shall be effective for two (2) years, during which time the guidelines may be
amended or repealed by a vote of 3/4 of the mernbers of the Council.
SECTION3. The City Council hereby reasserts its decision to become eligible to
participate in tax abatement. The City Council provides certain tax incentives applicable to
business enterprises in various reinvestment zones which are established in the City, in
accordance with the applicable provisions of Chapter 312 of the Tex. Tax Code and in
accordance with the guidelines and criteria established in the attached Exhibit A and in the
amended Policy.
SECTION 4. This Resolution shall become effective immediately upon its passage and
approval at the regular meeting of the City Council of the City of Denton, Texas, on the 20th day
of April, 2010, at which meeting a quorum was present and which meeting was held in
accordance with the provisions of Tex. Gov.'t Code §551.001, et seq.
PASSED AND APPROVED this the 17th day of April, 2012.
ATTEST:
JENNIFER WALTERS, CITY SECRETARY
BY: 1�
APPROVED AS TO LEGAL FORM:
ANITA BURGESS, CITY ATTORNEY
BY: � ��
2012 Tax Abatement Policy EXHIBIT A
DENTON POLICY FOR
TAX ABATEMENT
I. GENERAL PURPOSE AND OBJECTIVES
The City of Denton (City) is committed to the promotion of high quality development in all parts of
the city and to an ongoing improvement in the quality of life for its citizens. Insofar as these
objectives are generally served by the enhancement and expansion of the local economy, the City
will, on a case-by-case basis, give consideration to providing tax abatement as a stimulus for
economic development in Denton. It is the policy of the City that said consideration will be provided
in accordance with the procedures and criteria outlined in this document. Nothing herein shall imply
or suggest that the City is under any obligation to provide tax abatement to any applicant.
All applicants shall be considered on a case-by-case basis. Abatements will not be considered if
construction of a project already has begun.
Tax abatements, as described in this Policy, will be available for businesses wanting to locate, expand or
modernize, existing or new facilities and structures, including, without limitation, basic industries,
corporate office headquarters or distribution centers, except as this Policy may be limited for property
described in Section 312.211(a) of the Texas Property Tax Code (Vernons Texas Civil Statutes
Annotated, hereinafter referred to as "Tax Code.")
II. ECONOMIC DEVELOPMENT PARTNERSHIP BOARD
Requests for tax abatement shall be reviewed by the Econornic Development Partnership (EDP) board,
on a case-by-case basis unless otherwise directed by City Council, the EDP board being comprised of
two City Council members, two Chamber of Commerce board members, two representatives from the
top twenty ta�cpayers, one representative from the University of North Texas, one member with aviation
experience, and one member at-large.
The EDP board serves as a recommending body to the City Council regarding whether economic
development incentives should be offered in each individual case. Its recommendation sha11 be based
upon an evaluation of information submitted in the tax abatement application and any additional
information requested by the EDP board or presented to the EDP board. The Tax Abatement
Application sha11 be substantially in the form of Exhibit A of this Policy. All meetings of the EDP
board shall be held in compliance with the Texas Open Meetings Act, Chapter 551 of the Texas
Government Code.
III. VALiTE OF INCENTIVES
The criteria outlined in the Application will be used by the EDP board in determiniilg whether or not it
is in the best interests of the City to recommend that tax abatement be offered to a particular project.
Specific considerations will include the degree to which the individual project furtliers the goals and
objectives of the cornmunity as described in the Denton Comprehensive Plan, as well as the relative
impact on growth, employment, expansion of the t� base, econornic development and human health
2012 Tax Abatement Policy
and the environment. New, expanding and modernizing businesses may be considered for abatement if
the minimum threshold, as described in Table 1 below, is met.
Once a determination has been made that a project is eligible for a tax abatement, the value and term of
the abatement may be determined by referencing the following table:
TABLE 1: Establishes a framework for considering the length and percentage of abatement
according to assessed properry value of improvements and of tangible personal property located on the
real property.
VALUE OF STRUCTURE
AND PERSONAL PROPERTY yEARS OF PERCENTAGE OF
1N MILLION DOLLARS ABATEMENT ABATEMENT
100 10 25%
80 9 25%
65 g 25%
50 7 25%
35 6 25%
20 5 25%
15 4 25%
10 3 25%
5 2 25%
To qualify, companies must meet the minimum threshold of the Policy in the first 24 months from the
execution of the agreement or as specified in the tax abatement agreement.
If upon initial application a project qualifies for tax abatement under the guidelines set forth in this
Policy, the City may consider granting an additional5% abatement for each one of the following factors
provided, however, that the total tax abatement does not exceed 50% annually or continue for a period
of more than ten years. No applicant may receive credit for more than five of the following factors:
■ The project will occupy a building that has been vacant for at least two years;
■ The project will create high-skilled, high-paying jobs as documented by the applicant; (A
breakdown of number of jobs per job classification and enhy level wage per classification will
be used to determine eligibility);
■ The project will involve a significant relationship with one of the two universities in Denton;
■ At least 25% of the new jobs created by the project will be filled by Denton residents;
■ A minimum of 25% of local contractors and local subcontractors will be utilized during
construction of the project;
■ The project will provide knowledge-based jobs (at least 25
bachelors degree at entry level);
■ The project will donate significant public art to the cornmuniTy
approved by Greater Denton Arts Council and City Council);
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percent of jobs require college
(To qualify, donation must be
2012 Tax Abatement Policy
■ The project will donate significant materials/equipment to the public schools (to qualify,
donation must be approved by DISD and City Council);
■ The project will create improvements to the Denton Downtown Implementation Plan area;
■ The project will result in the formation of a business park;
■ The project is an international or national headquarters facility.
■ The proj ect is a medical manufacturing or research facility.
■ The project incorporates significant environmentally sustainable practices that includes:
Leadership in Energy and Environmental Design (LEED) certification, recycling initiatives, the
manufacture of sustainable materials or products that support sustainable industries, or the
incorporation of clean technology.
■ Renewable Energy will be generated, stored or utilized for the project on an ongoing basis;
■ The applicant is committed to actively supporting the Denton Community.
The total t� abatement may not exceed 50% annually for ten years. All abatements are subject to final
approval of the City Council. Even though a project may meet the criteria as set forth in this
Policy, an application may be denied at the discretion of the City. Tax abatement shall not apply to
any portion of the land value of the project. The thresholds as described in Table 1 are considered
guidelines for establishing the Tax Abatement Agreement terms. However, the City may determine that
a lower or higher percentage and/or a shorter or longer term of abatement may be more appropriate for
an individual project. If the abatement is approved, the City may consider applying all or a portion of
the abatement in the first year or during any shorter period within the term of the tax abatement
agreement. For example, an approved abatement of 25 percent for four years may be applied as 100
percent abatement for one year.
When the City of Denton detertnines that incentives are required to retain existing businesses, which
propose to improve or redevelop property within the City limits, the Denton City Council may consider
these "special projects" on a case-by-case basis and reserve the right to waive the minimum threshold
and/or exceed fifiy percent (50%) in tax abatement. The City of Denton may also take into
consideration as "special projects" the expansion/redevelopment of existing businesses that create new
or additional professional jobs. New or existing businesses that incorporate environmentally sustainable
practices or have a renewable energy component may also be considered "special projects." Abatement
hereunder will only apply to the increased valuation of the improvements over the appraised value of the
property prior to such improvements as same is established by the Denton Central Appraisal District the
year in which the tax abatement agreement is executed. The City may also consider other tax incentives
authorized by law.
Definitions:
Local contractors and local sub-contractors refers to vendors that have their "principal office or place
of business," as reported to the Texas Secretary of State Office, located within Denton City Limits or
Extraterritorial Jurisdiction (ETJ). The minimum requirement of 25%, to be eligible under this
consideration, will be based on the estimated construction valuation of the project.
Knowledge-based jobs are defined as occupations which:
• Require specialized and theoretical knowledge, usually acquired through a college education
or through work experience or other training which provides comparable knowledge;
• Require some research, analysis, report writing and presentations;
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2012 Tax Abatement Policy
• Require special licensing, certification, or registration to perform the job task;
A Business Park is defined as a multi-building, multi-tenant, master planned complex of approximately
one million square feet or more under roof, constructed to house manufacturing, distribution, assembly,
and office facilities.
Leadership in Energy and Environmental Design (LEED) certification is a voluntary
internationally recognized green building certification system, with verification by a third-party that a
building or community was designed and built using strategies aimed at improving performance
across the following metrics:
• energy savings
• water efficiency
• COZ emissions reduction
• improved indoor envirorunental quality
• stewardship of resources.
The certification levels consist of the following: Basic, Silver, Gold and Platinum and are weighted
on a 100 point system. The LEED system measures: innovation in design; sustainable sites; water
efficiency; energy and atmosphere; materials and resources; indoor environmental quality; and
locations and linkages.
The manufacture of sustainable materials or products may include but is not limited to: biobased,
recyclable and reclaimed goods. Denton is located in an air quality nonattainment region designated
by the Environmental Protection Agency for air pollution levels that continually exceed national
standards. Products and equipment that support sustainable industries or clean technologies that
reduce environmental pollution are encouraged and may qualify for consideration under this section.
Community support and involvement may include but is not limited to monetary or active investment in
local non profits, public institutions or community organizations. Membership and participation in a
Denton chamber of commerce is an example that may qualify under this consideration. The EDP board
will consider criteria proposed by the applicant, review and make a recommendation on the eligibility of
the applicant's community support and recommend whether an additional five percent should be added
to the overall incentive percentage.
When the City determines that abandoned property may require additional incentives to promote
economic development that generally satisfies the requirements of this Policy, the City may waive the
minimum threshold and/or exceed fifty percent (50%) in tax abatement, or consider other tax incentives
for special projects to redevelop abandoned buildings consistent with existing law. For the purpose of
this Policy, an abandoned building is defined as a building that has been identified as being suitable for
commercial or industrial development, has been vacant for a minimum of five-years ar has substantially
declined in appraised value. Abatement would only be considered on the increased valuation of the
improvements in each year covered by the tax abatement agreement over the value of the property for
the year in which the tax abatement agreement is executed. The City may also consider other t�
incentives authorized by law.
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2012 Tax Abatement Policy
Preliminarv Anplication
IV. PROCEDURAL GUIDELINES
Any person, organization or corporation desiring that the Ciiy consider providing tax abatement to
encourage location or expansion of facilities within the limits of the jurisdictions shall be required to
comply with the following procedural guidelines. Nothing within these guidelines shall imply or
suggest that the City is under any obligation to provide tax abatement to any applicant.
A. Applicant shall complete the attached "Application for Tax Abatement."
B. Applicant shall prepare a map or other documents providing the following:
■ precise location of the property and all roadways within 500 feet of the site
■ existing uses and conditions of real property
■ proposed improvements and uses
■ any proposed changes in zoning .
■ compatibility with the Denton Comprehensive Plan and applicable building codes and
City ordinances.
■ A complete legal description.
C. Applicant shall complete all forms and information detailed in the Application and submit
all information to the City Manager (or his/her designee), City of Denton, 215 E. McKinney,
Denton, TX 76201.
D. All information in the application package detailed above will be reviewed for completeness
and accuracy. Additional information may be requested as needed.
E. The application will be distributed to the appropriate City departments for internal review
and comments. Additional information may be requested as needed.
F. Copies of the complete application package and staff comments will be provided to the EDP
board.
G. Fiscal agents of the City will review the application for comments and recommendation.
Additional information may be requested as needed.
Consideration of the Apulication
H. The EDP board will consider the application at a regular or called meeting(s). Additional
information may be requested as needed.
I. The recommendation of the EDP board will be forwarded, with all relevant materials, to the
City Council.
J. If the City Council decides to grant a tax abatement, it shall call a public hearing to consider
establishment of a tax reinvestment zone in accordance with Section 312.201 of the Tax
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2012 Tax Abatement Policy
Code. The reinvestment zone must meet one or more of the criteria of Section 312.202 of
the Tax Code.
K. The City Council may consider adoption of an ordinance designating the area described in
the legal description of the proposed project as a commerciaUindustrial tax abatement zone.
L. The City Council may consider adoption of an ordinance or resolution approving the terms
and conditions of a contract between the City and the applicant governing the provision of
the tax abatement and the commitments of the applicant, including a11 the terms required by
Section 312.205 of the Tax Code and such other terms and conditions as the City Council
may require. Should the commitments subsequently not be satisfied, the taa� abatement shall
be null and void (unless the tax abatement agreement provides for a recapture of the property
tax revenue lost proportionate to a partial failure to meet the minimum thresholds set forth in
the agreement) and all abated taxes sha11 be paid immediately to the City of Denton.
Provisions to this effect sha11 be incorporated into the agreement.
N. The City reserves the authority to enter into tax abatement agreements at differing
percentages and/or terms as set forth in the guidelines of this Policy, consistent with the
requirements of the Tax Code.
Any tax abatement agreement will address various issues, including but not limited to, the following:
1. General description of the project
2. Amount of the tax abatement and percent of value to be abated each year
3. Method of calculating the value of the abatement
4. Duration of the abatement, including commencement date and termination date
5. Legal description of the property
6. Kind, number, location and timetable of planned improvements
7. Specific terms and conditions to be met by applicant
8. The proposed use of the facility and nature of construction
9. Contractual obligations in the event of default, violation of terms or conditions, delinquent
taxes, recapture, any decrease in valuation, administration and assignment
Annual Evaluation
Upon completion of construction, the City Council shall receive from the City Manager (or his/her
designee) an annual evaluation of each abatement to insure compliance with the agreement and to report
possible violations of the agreement to the appropriate t�ing entities. After new tax base numbers are
received in July of each year, the City Manager and his staff will have ninety (90) days to review and
prepare a breakdown of those figures.
Local Businesses and Historicallv Underutilized Businesses
Businesses receiving a tax abatement are asked to use diligent efforts to purchase all goods and
services from Denton businesses whenever such goods and services are comparable in availability,
quality and price.
The City of Denton also encourages the use, if applicable, of qualified contractors, subcontractors and
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2012 Ta�c Abatement Policy
suppliers who are historically underutilized businesses based on information provided by the General
Services Commission pursuant to Chapter 2161 of the Government Code. In the selection of
subcontractors, suppliers or other persons or organizations proposed for work on this Agreement, the
OWNERS agree to consider this Policy and to use their reasonable and best efforts to select and
employ such companies and persons for work on this Agreement.
Job Recruitin� from Low-Moderate Income Census Tracts
Businesses receiving tax abatements are asked to endeavor to make available, or endeavor to cause
lessees or assignees to make available, full-time or part-time employment with on-the job training for
Denton citizens. In this effort, the business, lessee or assignee is encouraged to recruit from the low-
moderate income Census tracts as further defined by the U.S. Department of Housing and Urban
Development's (HLJD) Qualified Census Tracts (QCT) map shown in Figure 1. HUD defines QCTs
as "census tracts in which one-half or more of the households have incomes below 60 percent of the
area median income or the poverty rate is 25 percent of [or] higher.
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2012 Tnl �batement Policti
FIGURE 1: DENTON, TEXAS
2010-2011 Qualified Census Tracts
':i.��'sl Offi[e of Po�l"uy'DevefuPniei9t and ReseaDeh eloRment
I IL �J L 1:' ��R
Page 8 of 18
' �`?4;' �• . !�j 4 A-, �v � ,..,..
— Tract 4utk�ne
■ Qua:ltf[ed C�er�sus Tratts {�pl O-2U1 7}
2012 Tax Abatement Policy
EXHIBIT A
The City of Denton
Tax Abatement Application
About the Application...
The Tax Abatement Application provides the CiLy with specific information on the project. The information
requested in the Application is designed to address the criteria developed within the City of Denton's Tax
Abatement Policy. The information serves as the basis for fiscal analysis and overall project evaluation. This
evaluation is provided to the Economic Development Partnership (EDP) board and Council Members and serves
as a source document during EDP board and City Council deliberations.
The Application and the Agreement...
Specific information from the Application (such as value of new investment and employment commitments) is
incorporated into the Abatement Agreement. In fact, the Application is an attachxnent to the Agreement. Since
the Agreement is a binding contract, it is important that each question on the application be answered in full and
as realistically as possible. Simply put, the application is part of the process from start to finish so you'll want to
make sure you're comfortable with the contents.
When Is TheApplication Final?
The answer to this question is very simple: When you tell us, "It's final." It is not uncommon for a property
owner(s) to submit numerous Applications as drafts for informational and evaluative purposes only. As
conversations continue, the property owner will submit a fmalized version of the Application that includes all of
the commitrnents agreed to during the discussions.
What about Confidentiality7
Section 312.003 of the Texas Tax Code makes confidential information provided to the City as a part of this
application that describes the specific processes or business activities to be conducted or the equipment or other
property to be located on the property. This information is not subject to public disclosure until the tax abatement
agreement is executed. Section 522.131 of the Texas Government Code (Texas Public Information Act) makes
coniidential information which relates to economic development negotiations between the City and a business
prospect that the City seeks to have locate, stay or expand in or near the territory of the City. The information
must relate to a trade secret of the business prospect, commercial or financial information which the business
prospect can demonstrate based on specific factual evidence that disclosure would cause substantial competitive
harm to the person from whom the information was obtained or information about a financial or other incentive
being offered to the business prospect by the City or by another person. Information about a fmancial or other
incentive being offered to the business prospect is required to be disclosed when an agreement is made with a
business prospect. The City is subject to disclosing most records and documents upon request under the Public
Information Act. Accordingly, please clearly indicate and mark any information you consider proprietary.
This would include anything in your application which you consider a trade secret, commercial or
financial information which you can demonstrate by specific factual evidence that would cause substantial
competitive harm if disclosed, information which describes the specific processes or business activities to
be conducted or the equipment or other property for which the tax abatement is sought, any financial or
other incentive you may be seeking from the City or any other information you deem to be confidential
under the law.
Who is Authorized To Sign the Application?
Because the Application itself is non-binding, the person signing need not be the property owner or even an
individual duly authorized to sign on behalf of the property owner. However, if an Agreement is reached, the
Application will be an attachment to the Agreement and its contents will be binding through the authorized
signature required on the Agreement.
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2012 Tax Abatement Policy
EXHIBIT A
�IT�
CJF
Ci of Denton
Tax Abatement A lication
pp
City of Denton
Department of Economic Development
Denton, Texas 76201
(940) 349-7776
(940) 349-8596 FAX
www. cityofdenton. coin
Linda.Ratliff(a)citvofdenton.com
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2012 Tax Abatement Policy
APPLICATION FOR TAX ABATEMENT
CITY OF DENTON, TEXAS
Property Owner
Company or Project Name
Mailing Address
Telephone Fax No.
Website
Contact Name
Title
Mailing Address
Telephone Fax No.
Email Address
2. Provide a chronology of plant openings, closing and relocations over the past 15 years.
Provide a record of inergers and financial restructuring during the past 15 years.
4. Will the occupants of the project be owner ar lessee? If lessee, are occupancy commitments already existing?
Is the project a relocation of existing facility or a new facility to expand operations? If relocation, give
current location.
If an existing Denton business, will project result in abandonment of existing facility? If so, the value of the
existing facility will be subtracted from the value of the new facility to arrive at total project value.
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2012 Tax Abatement Policy
7. Properiy Description.
- Attach a copy of the legal description detailing property's metes and bounds.
- Attach map of project including all roadways, land use and zoning within 500 feet of site.
8. Current Value. Attach copy of latest property tax statement from the Denton County Central Appraisal
District Include both real (land and improvements) and personal properly).
9. Increased Value/Estimated Total Cost of Project.
Structures
$
Personal Property $
Site Development $
Other Improvements $
10. Indicate percent of tax abatement and number of years requested.
Percent Requested Years Requested
List any other financial incentives this project will request/receive
Estimated Freeport Exemption
Estimated Electric Utility Industrial Development Rider
Estimated Water/Wastewater Infrastructure Assistance
$
$
$
11. Give a brief description of the activities to be performed at this location, including a description of products to
be produced and/or services to be provided.
12. Describe any off-site infrastructure requirements:
• Water
• Wastewater
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2012 Tax Abatement Policy
• Streets
• Drainage
• Other
13. Project Operation Phase. Provide employment information for the number of years tax abatement is
requested.
At Project
Existing Start Date At Term of
Employment Information Operation (mo/yr) Abatement
(if applicable) /
A. Total number of permanent, full-time jobs
B. Employees transferred from outside Denton
C. Net permanent full-time jobs (A. minus B.)
E. Total annual payroll for all permanent, full-time
jobs (A.)
Types of jobs created. List the job titles and number of positions in each category that will be employed
at the facility. Provide average wage for each category.
G. Indicate the number of shifts the project will operate
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2012 Tax Abatement Policy
H. Estimate annual utility usage for project:
Electric
VJastewater
kWh Water
gpd Gas
gpd
mcf
14. Describe any other direct benefits to the City of Denton as a result of this project (e.g., sales tax revenue or
proj ect elements identif'ied in Tax Abatement Policy, Section III).
15. Is property zoned appropriately? Yes No
Current zoning.
Zoning required for proposed project.
Anticipated variances.
16. Is property platted? Yes No
Will replatting be necessary Yes No
17. Discuss any environmental impacts created by the project.
A. List any permits for which applicant must apply. Applicant will be required to provide City with copies
of all applications for environmental permits upon completion of application(s).
B. Provide record of compliance to all environmental regulations for the past five years.
18. Provide specific detail of any businesses/residents that will be displaced and assistance that will be available
from the requesting company.
19. Provide description of any historically significant area included within the projecYs area as determined by the
Historic preservation Officer. If any, give detail of how the historically significant area will be preserved.
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2012 Tax Abatement Policy
20. Justification for Tax Abatement Request: Substantiate and more fully describe the justification for this
request. Include the amount of the abatement requested and show how it will contribute to the fmancial
viability of the project. Submit attachments if necessary.
21. List additional abatement factors to be considered for this project as outlined on pages 3 and 4 of the Tax
Abatement Policy.
Occupies building vacant for at least 2 years Donation of materials to public schools
Project creates high-skilled, high-paying jobs Improvements to Downtown
Significant relationship with universities Project forms business park
25% of new jobs filled by Denton residents International or national headquarters
25°/a local contractors to be utilized Medical manufacturing or research facility
25% of jobs are lrnowledge-based Environmentally sustainable practices used
Donation of significant public art Renewable Energy generated/stored/utilized
Community support and involvement: Attach description of community involvement
22. Financial Information: Attach a copy of the latest audited fmancial statement or, in the case oi a new pro�ect,
a business plan.
23. Does the project have an eligible environmentally sustainable or renewable energy component (if so, please
identify type and provide a brief description)?
24. Applicants seeking LEED certification must complete the Green Building Application for Tax Abatement
(Exhibit B of the policy).
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2012 Tax Abatement Policy
COMPLETE THIS SECTION IF REQUESTING ADDITIONAL INCENTIVE
BASED ON LEED CERTIFICATION CONSTRUCTION
Property Owner
Company or Project Name
Mailing Address
Telephone Fax No.
Website
Contact Name
Title
Mailing Address
Telephone Fa�c No.
Email Address
2. Project location address:
3. Provide documentation that the project has been registered with the U.S. Green Building Council.
Provide a description of the project (please include the building size, number of occupants and estimated
budget).
Attach a preliminary Leadership in Energy and Environmental Design (LEED) Scorecard illusirating how
project will achieve the LEED certification.
Level of Certification:
Number of Points:
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2012 Ta�c Abatement Policy
This Tax Abatement Application is submitted with the acknowledgement that additional information may be required.
Authorized Signature
Date:
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