HomeMy WebLinkAbout24-821RESOLUTION NO. 24-821
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DENTON, TEXAS
APPROVING THE ESTABLISHMENT OF POLICIES, GUIDELINES, AND CRITERIA
GOVERNING TAX ABATEMENTS; AND DECLARING AN EFFECTIVE DATE.
WHEREAS, the City Council desires to promote economic development within Denton;
and
WHEREAS, the Property Development and Tax Abatement Act (“the Act”), Chapter 3 12,
Texas Tax Code allows the City to establish its own criteria for tax abatements; and
WHEREAS, the Act requires the City to establish guidelines and criteria prior to entering
into a tax abatement agreement; and
WHEREAS, guidelines and criteria adopted under the Act are eligible for two years from
the date adopted; and
WHEREAS, on June 6, 2000, the City Council approved guidelines and criteria, known as
the Denton Policy for Tax Abatements and Incentives (“Policy”), by passing Resolution No.
R2000-28; and
WHEREAS, the City previously adopted, amended, and reauthorized guidelines and
criteria for tax abatements by passing Resolution Nos. R90-18, R98-004, R2000-028, R200 1-020,
R2003-021, R2005-057, R2008-003, R2010-009, R2012-009, R2014-016, R2015-042, R2016-
009; 18-148, and 20-504.
WHEREAS, on May 3, 2022, the City Council of the City of Denton approved the current
Policy by passing Resolution No. 22-356; and
WHEREAS, the current Policy expired on May 3, 2024; and
WHEREAS, the City Council held a public hearing on May 7, 2024, as required by the
Act, to receive public feedback regarding the proposed adoption of the Policy attached hereto as
Exhibit A and incorporated herein for all purposes; and
WHEREAS, the City Council deems it in the public interest to continue to be eligible for
participation in tax abatements and to adopt policies, guidelines, and criteria for tax abatement by
adopting the Policy attached hereto as Exhibit A and incorporated herein for all purposes; NOW,
THEREFORE,
THE COUNCIL OF THE CITY OF DENTON HEREBY RESOVLES:
SECTION 1. The policies, guidelines, and criteria, set forth in Exhibit A, which is made a
part of this Resolution and incorporated herein for all purposes, are approved and adopted, and
shall be known as the Denton Tax Abatement Policy.
SECTION 2. From and after the effective date of this Resolution, the attached Denton Tax
Abatement Policy shall constitute the policies, guidelines, and criteria for tax abatement
agreements for the City of Denton in accordance with Chapter 3 12 of the Texas Tax Code.
SECTION 3. Pursuant to Texas Tax Code Section 3 12.002(c), the Denton Tax Abatement
Policy approved herein shall be effective for two (2) years from the date of the approval of this
Resolution, during which time it may amended or repealed by a vote of % of the members of
Council
SECTION 4. The City Council reasserts its decision to become eligible to participate in
tax abatements. The City Council provides certain tax abatements to applicable business
enterprises in various reinvestment zones which are established in the City in accordance with the
applicable provisions of Chapter 312 of the Texas Tax Code and in accordance with the Denton
Tax Abatement Policy.
SECTION 5. The Denton Tax Abatement Policy shall be filed in the official records with
the City Secretary and posted on the City’s website in accordance with Texas Tax Code Section
3 12.002(c-2).
SECTION 6. This resolution shall become effective immediately upon its passage and
approval.
Th, m,tio„ t, app„,e this „s,I„tio„ w„ made by e\'~. . s O'- Hi and
seconded by Br i a. A Scot , the resolution was passed and approved by
the following vote a - O ]:
Aye
,/
,,/
,/
Nay Abstain Absent
Mayor, Gerard Hudspeth:
Vicki Byrd, District 1 :
Brian Beck. District 2:
Paul Meltzer , District 3 :,/
Joe Holland, District 4:L/
,/
„/
Brandon Chase McGee, At Large Place 5 :
Chris Watts, At Large Place 6:
PASSED AND APPROVED this the I\R dayof . 2024.
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ATTEST:
LAUREN THODEN, CITY SECRETARY
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APPROVED AS TO LEGAL FORM:
MACK REINWAND, CITY ATTORNEY
Scott Bray
2024.04.30
16:47:08 -05'OO'
DEPUTY CITY ATTORNEY