ORDER NO. 19476
APPROVAL OF THE REINVESTMENT AND ENTERPRISE ZONE
CONCEPTS AS OUTLINED BY THE CITY OF KERRVILLE,
SUBJECT TO THE APPROVAL OF THE COUNTY ATTORNEY
On this the 19th day of April 1990, upon motion made by
Commissioner Morgan, seconded by Commissioner Ray, the Court
unanimously approved the Reinvestment and Enterprise Zone
concepts, as outlined by the City of Kerrville, and subject
to the approval of the County Attorney.
KERR COUNTY, TEXAS
RESOLUTION N0. 19476
A RESOLUTION STATING THAT THE COUNTY OF
KERR ELECTS TO BECOME ELIGIBLE TO PARTICIPATE
IN TAX ABATEMENT AND ESTABLISHING GUIDELINES AND
CRITERIA GOVERNING TAX ABATEMENT AGREEMENTS IN A
REINVESTMENT ZONE
WHEREAS, the creation and retention of job opportunities
that bring new wealth is the highest civic priority; and
WHEREAS, new jobs and investment will benefit the area
economy, provide needed opportunites, strengthen the real estate
market and generate tax revenue to support local services; and
WHEREAS, the communities within Kerr County must compete
with other localities across the nation currently offering tax
inducements to attract new plant and modernization projects;
and
WHEREAS, any tax incentives offered in Kerrville and Kerr
County would reduce needed tax revenue unless strictly limited
in application to those new and existing industries that bring
new wealth to the community; and
WHEREAS, any tax incentives should not adversely affect
the competitive position of existing companies operating in
Kerrville and Kerr County; and
WHEREAS, the abatement of property taxes, when offered
to attract primary jobs in industries which bring in money from
outside a community instead of merely recirculating dollars
within a community, has been shown to be an effective method
of enhancing and diversifying an area economy; and
WHEREAS, effective September 1, 1989, Texas law requires
an eligible taxing jurisdiction to establish Guidelines and
Criteria as to eligibility for tax abatement agreements prior
to granting of any future tax abatement, said Guidelines and
Criteria to be unchanged for a two-year period unless amended
by a three-fourths vote of the Kerr County Commissioner's Court
NOW, THEREFORE BE IT RESOLVED by the Commissioner's Court
of Kerr County, Texas:
THAT the County of Kerr hereby elects to become eligible
to participate in tax abatement under the Texas Property
Redevelopment and Tax Abatement Act.
ATTACHMENT "A"
GUIDELINES AND CRITERIA FOR TAX
ABATF,MENT IN REINVESTMENT ZONES
Section 1 Abatement Authorized
(a) Tax abatement shall be authorized for industrial facilities and
commercial facilities. All other types of facilities shall be
ineligible. Abatement shall extend to the value of buildings,
structures, fixed machinery and equipment, site improvements plus
office space and related fixed improvements necessary to the
operation and administration of the facility. However, land,
inventories, supplies, tools, furnishings and other forms of movable
personal property shall be ineligible.
(b) If a leased facility is granted abatement, the agreement shall
be executed with the lessor and the lessee.
(c) Abatement shall be granted effective with the January 1st
valuation date immediately following the date of execution of the
agreement and shall end on the same date.
(d) Schedules of tax abatements are as follows:
1. New industry and expansion of old industry:
Project Costs or Jobs = Percent Taxes Abated by Year
(whichever is greater) 1st yr.-2nd yr.-3rd yr.-4th yr.-5th yr.
$ 0-$ 149,000	or	to 15	750	400	25%	10~	0%
150,000- 250,000	or	15-25	75a	SOo	35$	15o	Oo
250,001- 400,000	or	26-35	750	55°s	40$	25%	l0a
400,001- 600,000	or	36-45	750	600	45%	30~	15%
600,001- 800,000	or	46-55	80%	650	50%	350	200
800,001-1,000,000	or	56-65	85%	70°s	55°s	40e	25%
1,000,001-1,250,000	or	66-75	90°s	75%	60a	50~	300
1,250,001-1,500,000	or	76-85	950	80%	65°s	SSo	35°s
1,500,001-1,750,000	or	86-95	100%	85$	70~	60a	40%
Any project with project costs more than $1,750,000 or creating more
than 95 new jobs will be individually negotiated.
2. Expansion, modernization or new construction, of commercial
facilities and structures in the Central Business District area of
the City.
PROJECT COSTS
Percent Taxes Abated by Year
1st yr.-2nd yr.-3rd yr.-4th yr.-5th yr.
$ 0 -	$ 100,000	/S%	50%	40%	30%	20%
100,001 -	200,000	75%	60%	50%	40%	30%
200,001 -	300,000	75%	65%	55%	45%	35%
300,001 -	400,000	80°s	70%	60%	50%	90%
400,001 -	500,000	85%	75%	65%	55%	45%
500,001 -	600,000	90°s	80%	70%	60%	50°s
600,001 -	700,000	95%	85%	75%	65%	55°s
700,001 -	800,000	100%	90%	80%	700	60%
Any project with costs in excess of $800,000 will be individually
negotiated.
3. Expansion, modernization or new construction, of commercial
facilities and structures in areas other than the Central Business
District of the City.
PROJECT COSTS Percent Taxes Abated by Year
1st yr.-2nd yr.-3rd yr.-4th yr.-5th yr.
$ 0 -	$ 100,000	70%	40%	30%	20%	10%
100,001 -	200,000	70%	50%	40%	30%	20°s
200,001 -	300,000	70%	55%	45%	35°s	25%
300,001 -	400,000	70%	60°s	50%	40%	30%
400,001 -	500,000	75%	65%	55%	45%	35%
500,001 -	600,000	80%	70%	60%	55%	40%
600,001 -	700,000	85%	75%	65%	60%	50%
700,001 -	800,000	90%	80%	70%	65%	55%
800,001 -	900,000	95%	85%	75%	70°s	60°s
900,001 -	1,000,000	100%	90%	80%	75%	65%
Any project with costs in excess of $1,000,000 will be individually
negotiated.
(e) Approved projects that further improve their facilities, or in the
case of industry, create new jobs, during the period of their agreement
for tax abatement, are eligible to negotiate a new contract with the
City under the guidelines herein as to the additional improvements,
leaving in place the original agreement as to the prior improvements.
(f) If a modernization project includes facility replacement, the
abated value shall be the value of the new unit(s) less the value of the
old unit(s).
(g) Each year's abatement percentage will be based upon that year's
evaluation.
Section 2 Application
(a) Any present or potential owner of taxable property in Kerrville or
the E.T,J. may request the creation of a reinvestment zone and tax
abatement by filing a written request with the Planning Director of the
City of Kerrville.
(b) The application shall consist of a completed application form
accompanied by: a general description of the proposed use and the
general nature and extent of the modernization, expansion of new
improvements to be undertaken; a descriptive list of the improvements
which will be a part of the facility; a map and property description; a
time schedule for undertaking and completing the planned improvements.
In the case of modernizing, a statement of the assessed value of the
facility, separately stated for real and personal property, shall be
given for the tax year immediately preceding the application. The City
may require such financial and other information as deemed appropriate
for evaluating the financial capacity and other factors of the applicant.
(c) After receipt of an application for creation of a reinvestment zone
and application for abatement, the City Planning Director shall prepare
a feasibility study setting out the impact of the proposed reinvestment
zone and tax abatement. The feasibility study shall include, but not be
limited to, an estimate of the economic effect of the creation of the
zone and the abatement of taxes and the benefit to the City of Kerrville
and the property to be included in the zone.
Section 3 Authorization
(a) Neither reinvestment zone nor abatement agreement shall be
authorized if it is determined that:
1. There would be a substantial adverse affect on the provision of
government service or tax base;
2. The applicant has insufficient financial capacity;
3. Violation in other codes or laws; or
9. An affected taxing entity objects.
(b) The proposed reinvestment zone and/or abatement agreement shall be
determined to promote the health, safety, morals or general welfare of
the community.
(c) The proposed improvements must achieve the following objectives
before an abatement agreement may be authorized:
1. The architectual style, materials used, and landscaping will be
designed and utilized so that a positive image of history and chazacter
of Kerrville and the Hill Country is reflected.
2. Adjacent buildings or sites that are of historic or architectual
importance will be enhanced by the project.
3. Existing
importance which
such a manner to
importance.
buildings that are of historic are architectual
are to be included in the project shall be treated in
preserve or enhance their historic or architectual
4. Where the natural setting includes distinctive features, such as
the Guadalupe River, significant tree stands, other unique native
plants, hills, or rock out-croppings, etc., those features shall be
considered in the planning process to insure their protection or
enhancement to the maximum extent possible.
Section 4 Agreement
(a) After approved, the City of Kerrville and the owner of the facility
and lessee, if required, shall execute an agreement which shall include:
1. estimated value to be abated and the base year value;
2. percent of value to be abated each year as provided above;
3. the commencement date and the termination date of abatement not
to exceed ten (10) years;
4. the proposed use of the facility; nature of construction, time
schedule, map, property description and improvement list as provided in
the application;
5. contractual obligations in the event of default, violation of
terms or conditions, delinquent taxes, recapture, and assignment as
provided herein; ,
6. size of investment and average number of jobs involved for the
period of the abatement; and
7. a stipulation that employees and/or designated representatives
of the City of Kerrville will have access to the reinvestment zone and
property to determine if the terms and conditions of the agreement are
being met.
(b) The agreements shall be transferable and assignable by the holder to
a new owner or lessee of the same facility upon approval by resolution
of the City Council subject to the financial capacity of the assignee,
and provided that all conditions and obligations in the abatement
agreement are guaranteed by the execution of a new contractual agreement
with the City of Kerrville. No assignment or transfer shall be approved
if the parties to the existing agreement, the new owner or new lessee
are liable to the City or any affected jurisdiction for outstanding
taxes or other obligations.
Section 5 Recapture
(a) In the event that the facility is completed and begins producing
product or service, but subsequently discontinues producing product or
service for any reason excepting, fire, explosion or other casualty or
accident or natural disaster for a period of one (1) year during the
abatement period, then the agreement shall terminate and so shall the
abatement of the taxes for the calendar year during which the facility
no longer produces. The taxes otherwise abated for that calendar year
shall be paid to the City within sixty (60) days from the date of
termination.
(b) Should it be determined that the company or individual is in default
according to the terms and conditions of its agreement, the City shall
notify the company or individual in writing at the address stated in the
agreement, and if such is not cured with sixty (60) days from the date
of such notice ("Cure Period"), then the agreement may be terminated.
(c) In the event that the company or individual (1) allows any of its ad
valorem taxes owed the City to become delinquent and fails to timely and
properly follow the legal procedures for their protest and/or contest,
or violates any of the terms and conditions of the abatement agreement
and fails to cure during the Cure Period, the agreement then may be
terminated and all taxes previously abated by virtue of the agreement
will be recaptured and paid within sixty (60) days of the termination.
(d) Should the company or individual make only a portion of the agreed
improvements, the contract shall be adjusted according to the schedules
herein, and any loss of tax revenue as a result shall be recaptured and
paid within sixty (60) days of the contract adjustment.
(e) The provisions of State law regarding tax liens and personal
liability for taxes are applicable to all taxes ultimately imposed
pursuant to a tax abatement agreement or upon default or recapture as
described above.
Section 6 Definitions
The definitions set forth in the Te:tas Property Tax Code, as they are
now or are hereafter amended, shall apply to Tax Abatement Agreements
and Reinvestment Zones.
Commercial - All businesses other than those defined as Industry,
except those requiring a Special Use Permit under the
Comprehensive Zoning Ordinance.
Industry - Custom manufacturing, limited manufacturing and product
assembly and research services as those are defined in the
Comprehensive Zoning Ordinance.
Job - A full time, paid, permanent position of employment.
AND THAT the Guidelines and Criteria for granting tax
abatement in reinvestment zones in the city's E.T.J., and the
County as set forth in Attachment "A", attached herto and
incorporated herein by reference are hereby adopted by Kerr
County, Texas.
PASSED AND APPROVED ON this the 19th day of
April 1990.
KERR COUNTY,
;.
ATTEST::
PATR7,CYA DBE ' -;
PatriCis~"•, ye, Coy.nF~y Clerk
..... ;.
~~u;~3
sv~n~»~rvs,o, ~ `,~11~~
Danny
S
s, County Judge
APPROVED AS TO FORM:
D id M. M ley, County Attorney
Tdimie C. Huston, Deputy
COMMISSIONERS' COURTA~FNn,a RFQ IE~
• PLEASE FURNISH ON ORI MINA AND V N OPI OF THI R rJUFST ANA ~O('IIMFNTS
10 DF RCVIFWED DY 'll I • .0 IRT
MADE BY: Danny Edwards OFFICE: County Judge
MEETING DATE: Anril 19, 1990 TIME PREFERRED:
SUBJECT:CPLEASE 8E SPECIFIC): Consider Resolution on Reinvestment and Enterprise Zones.
ESTIMATED LENGTH OF PRESENTATION:
IF PERSONNEL MATTER -NAME OF EiriPLOYEE:
NAME OF PERSON ADDRESSING.THE COURT: county Judge
Time for submitting this request for Court io assure that the matter Is posted In
accordance with Article 6252- 17 Is as follows:
• Meetings held on second Monday: 12:00 P. M. previous Wednesday
• Meetings held on Thursdays: 5:00 P. M. previous Thursday.
If preferable, Agenda Requests may be made on office stationery with the above
Information attached.
THIS REQUEST RECEIVED BY:
T111S REQUEST RECEIVED ON:
4-6-90

All Agenda Requests will be screened by the County Judge's Office to determine If
adequate Information has been prepared for the Court's formal consideration and action at
time of Court meetings. Your cooperation will be appreciated and contribute towards
your request being addressed at the earliest opportunity.
2.8 Consider Resolution on Reinvestment and Enterprise Z nes.
(County Judge) ~ 7~"G
D ~ -CL~LtW l~-C~ ~_
,.fir^I'~y ~ ~ / i//t'
XX/9-
2.9 Consideration of dispute over Road Right-of-Way. (Duke Larson) _
7,~ - w~2-o ew-+~-a .._ u,.lio Ga~^~~u.v~.o - u.e .7 ? ~`
'``" ~ "~
III EXECUTIVE SESSION:
For Legal, Contractual and Personnel Matters pursuant to Article
6252-17, Section (e), (f), and (g).
3.1 Discussion of part time salary. (Tax Assessor/Collector)
3:00 3.2 Discussion concerning Administrative Assistant's departure.
(County Engineer)
3:00 3.3 Consider payraises for various Roa & Bridge Employees.
(County Engineer) ~ ~'"`~ ?
3:00 3.4 Transfering employee to Road & Bridge full time status.
(County Engineer)
4/9/90 ~~TT
~~''V"
nn--____
l~"•
MEMO
,; r~ k, °, w~a~
TO: David Motley
FROM: County Judge
RE: Enterprise and Reinvestment Zones
Attached is City of Kerrville Resolution No. 90-106. Also attached is a
brochure on Enterprise Zone Program. The Court has asked that I forward
this to you for review, comments and suggestions.
As discussed, I am interested in the re-capture portion of the Resolution
and have previously discussed same with the City Attorney, Larry Vetter
and Juanita Maples. If you have any questions, you may want to call on one
or more of these people.
We would like to have a response to this not later than April 18th.
~~ ~r ~
~ -~ ~ ~~-
~~~ • ~u
¢/~/~

MAR 2 g REC'0
THE CITY OF
KERRVILLE, TEXAS
M F. M C7
TO: Danny Edwards, County Judge
Don McClintok, Assistant Superintendent of Business, K.I.S.
Bernie Bruns, General Manager, U.G.R.A.
FROM: Larry Vetter, Director of Planning, City of Kerrville r/
DATE: March 28, 1990
SUBJ: RESOLUTION INITIATING REINVESTMENT ZONES WITHIN THE CITY OF
KERRVILLE
Attached is a copy of the "Guidelines and Criteria for Tax Abatement
in Reinvestment Zones" passed by the City Council on March 27th.
The Council has requested that each of the other taxing
jurisdictions review and adopt the same (with or without
modifications that your Board or Commission may deem necessary).
The Council has also asked that your Board or Commission appoint one
member to serve on a new coordinating board that would review each
business person's request to participate in tax abatement. This
would facilitate the process of negotiating each contract with each
business or property owner.
We would request that your Board or Commission schedule this item
for your next available agenda, and we will be in attendance to
present and discuss the resolution.
LV/sae
Enclosure: Guidelines and Criteria for Tax Abatement in
Reinvestment Zones
BOO JUNCTION HIGHWAY • KERRVILLE. TEXAS 78028-5069 • 512/257-8000
ATTACHMENT "A"
GUIDELINES AND CRITERIA FOR TAX
ABATEMENT IN REINVESTMENT ZONES
Section 1 Abatement Authorized
(a) Tax abatement shall be authorized for industrial facilities and
commercial facilities. All other types of facilities shall be
ineligible. Abatement shall extend to the value of buildings,
structures, fixed machinery and equipment, site improvements plus
office space and related fixed improvements necessary to the
operation and administration of the facility. However, land,
inventories, supplies, tools, furnishings and other forms of movable
personal property shall be ineligible.
(b) If a leased facility is granted abatement, the agreement shall
be executed with the lessor and the lessee.
(c) Abatement shall be granted effective with the January 1st
valuation date immediately following the date of execution of the
agreement and shall end on the same date.
(d) Schedules of tax abatements are as follows:
1. New industry and expansion of old industry:
Project Costs or		Jobs =	Percent Taxes Abated	by Year	
(whichever is greate	r)		1st	yr.-2nd	yr.-3rd	yr.-4th	yr.-5th yr.
$ 0-$ 149,000	or	to 15	75%	40%	25%	10°s	0%
150,000- 250,000	or	15-25	75%	50%	35%	15%	0%
250,001- 400,000	or	26-35	75%	55%	40%	25%	10%
400,001- 600,000	or	36-45	75%	60%	45%	30%	15°s
600,001- 800,000	or	46-55	80%	65%	50%	35%	20%
800,001-1,000,000	or	56-65	85%	70%	55%	40%	25%
1,000,001-1,250,000	or	66-75	90%	75%	60%	50%	30°s
1,250,001-1,500,000	or	76-85	95%	80%	65%	55%	35%
1,500,001-1,750,000	or	86-95	100%	85%	70%	60%	40%
Any project with project costs more than $1,750,000 or creating more
than 95 new jobs will be individually negotiated.
2. Expansion, modernization or new construction, of commercial
facilities and structures in the Central Business District area of
the City.
PROJECT COSTS Percent Taxes Abated by Year
1st yr.-2nd yr.-3rd yr.-4th yr.-5th yr.
$ 0 -	$ 100,000	75°s	50%	40%	30°s	20%
100,001 -	200,000	75%	60%	50°s	40%	30%
200,001 -	300,000	75%	65%	55%	45%	35%
300,001 -	400,000	80%	70%	60%	50%	40%
400,001 -	500,000	85%	75%	65%	55%	45%
500,001 -	600,000	90%	80%	70%	60%	50%
600,001 -	700,000	95%	85%	75%	65°s	55%
700,001 -	800,000	100%	90°s	80°s	70%	60%
Any project with costs in excess of $800,000 will be individually
negotiated.
3. Expansion, modernization or new construction, of commercial
facilities and structures in areas other than the Central Business
District of the City.
PROJECT COSTS Percent Taxes Abated by Year
1st yr.-2nd yr.-3rd yr.-4th yr.-5th yr.
$ 0 -	$ 100,000	70%	40%	30%	20°s	10%
100,001 -	200,000	70%	50%	40°s	30%	20%
200,001 -	300,000	70%	55%	45°s	35%	25%
300,001 -	400,000	70%	60%	50%	40°s	30%
400,001 -	500,000	75%	65%	55%	45%	35%
500,001 -	600,000	80%	70°s	60%	55%	40%
600,001 -	700,000	85%	75%	65%	60°s	50%
700,001 -	800,000	90%	80%	70%	65%	55%
800,001 -	900,000	95%	85%	75%	70%	60%
900,001 -	1,000,000	100%	90%	80%	75%	65%
Any project with costs in excess of $1,000,000 will be individually
negotiated.
(e) Approved projects that further improve their facilities, or in the
case of industry, create new jobs, during the period of their agreement
for tax abatement, are eligible to negotiate a new contract with the
City under the guidelines herein as to the additional improvements,
leaving in place the original agreement as to the prior improvements.
(f) If a modernization project includes facility replacement, the
abated value shall be the value of the new unit(s) less the value of the
old unit(s).
(g) Each year's abatement percentage will be based upon that year's
evaluation.
Section 2 Application
(a) Any present or potential owner of taxable property in Kerrville or
the E.T.J. may request the creation of a reinvestment zone and tax
abatement by filing a written request with the Planning Director of the
City of Kerrville.
(b) The application shall consist of a completed application form
accompanied by: a general description of the proposed use and the
general nature and extent of the modernization, expansion of new
improvements to be undertaken; a descriptive list of the improvements
which will be a part of the facility; a map and property description; a
time schedule for undertaking and completing the planned improvements.
In the case of modernizing, a statement of the assessed value of the
facility, separately stated for real and personal property, shall be
given for the tax year immediately preceding the application. The City
may require such financial and other information as deemed appropriate
for evaluating the financial capacity and other factors of the applicant.
(c) After receipt of an application for creation of a reinvestment zcr_e
and application for abatement, the City Planning Director shall prepare
a feasibility study setting out the impact of the proposed reinvestment
zone and tax abatement. The feasibility study shall include, but not be
limited to, an estimate of the economic effect of the creation of the
zone and the abatement cf taxes and the benefit to the City of Kerrville
and the property to be included in the zone.
Section 3 Authorization
(a) Neither reinvestment zone nor abatement agreement shall be
authorized if it is determined that:
1. There would be a substantial adverse affect on the provision of
government service or tax base;
2. The applicant has insufficient financial capacity;
3. Violation in other codes or laws; or
4. An affected taxing entity objects.
{b) The proposed reinvestment zone and/or abatement agreement shall be
determined to promote the health, safety, morals or general welfare of.
the community.
(c) The proposed improvements must achieve the following objectives
before an abatement agreement may be authorized:
1. The architectual style, materials used, and landscaping will be
designed and utilized so that a positive image of history and character
of Kerrville and the Hill Country is reflected.
2. Adjacent buildings or sites that are of historic or architectual
importance will be enhanced by the project.
3. Existing buildings that are of historic are architectual
importance which are to be included in the project shall be treated in
such a manner to preserve or enhance their historic or architectual
importance.
4. Where the natural setting includes distinctive features, such as
the Guadalupe River, significant tree stands, other unique native
plants, hills, or rock out-croppings, etc., those features shall be
considered in the planning process to insure their protection or
enhancement to the maximum extent possible.
Section 4 Agreement
(a) After approved, the City of Kerrville and the owner of the facility
and lessee, if required, shall execute an agreement which shall include:
1. estimated value to be abated and the base year value;
2. percent of value to be abated each year as provided above;
3. the commencement date and the termination date of abatement not
to exceed ten (10) years;
4. the proposed use of the facility; nature of construction, time
schedule, map, property description and improvement list as provided in
the application;
5. contractual obligations in the event of default, violation of
terms or conditions, delinquent taxes, recapture, and assignment as
provided herein;
6. size of investment and average number of jobs involved for the
period of the abatement; and
7. a stipulation that employees and/or designated representatives
of the City of Kerrville will have access to the reinvestment zone and
property to determine if the terms and conditions of the agreement are
being met.
(b) The agreements shall be transferable and assignable by the holder to
a new owner or lessee of the same facility upon approval by resolution
of the City Council subject to the financial capacity of the assignee,
and provided that all conditions and obligations in the abatement
agreement are guaranteed by the execution of a new contractual agreement
with the City of Kerrville. No assignment or transfer shall be approved
if the parties to the existing agreement, the new owner or new lessee
are liable to the City or any affected jurisdiction for outstanding
taxes or other obligations.
Section 5 Recapture
(a) In the event that the facility is completed and begins producing
product or service, but subsequently discontinues producing product or
service for any reason excepting, fire, explosion or other casualty or
accident or natural disaster for a period of one (1) year during the
abatement period, then the agreement shall terminate and so shall the
abatement of the taxes for the calendar year during which the facility
no longer produces. The taxes otherwise abated for that calendar year
shall be paid to the City within sixty (60) days from the date of
termination.
(b) Should it be determined that the company or individual is in default
according to the terms and conditions of its agreement, the City shall
notify the company cr individual in writing at the address stated in the
agreement, and if such is not cured with sixty (60) days from the date
of such notice ("Cure Period"), then the agreement may be terminated.
(c) In the event that the company or individual (1) allows any of its ad
valorem taxes owed the City to become delinquent and fails to timely and
properly follow the legal procedures for their protest and/or contest,
or violates any of the terms and conditions of the abatement agreement
and fails to cure during the Cure Period, the agreement then may be
terminated a.nd all taxes previously abated by virtue of the agreement
will be recaptured and paid within sixty (60) days of the termination.
id) Should th~~ company or individual make only a portion of the agreed
improvements, the contract shall be adjusted according to the schedules
herein, and any loss of tax revenue as a result shall be recaptured and
paid within sixty (60) days of the contract adjustment.
(e) The provisions of State law regarding tax liens and personal
liability for taxes are applicable to all taxes ultimately imposed
pursuant to a tax abatement agreement or upon default or recapture as
described above.
Section 6 Definitions
The definitions set forth in the Texas Property Tax Code, as they are
now or are hereafter amended, shall apply to Tax Abatement Agreements
and Reinvestment Zones.
Commercial - All businesses other than those defined as Industry,
except those requiring a Special Use Permit under the
Comprehensive Zoning Ordinance.
Industry - Custom manufacturing, limited manufacturing and product
assembly and research services as those are defined in the
Comprehensive Zoning Ordinance.
Job - A full time, paid, permanent position of employment.
ORDER N0. 19476
APPROVAL OF TAE REINVESTME[~FP AND
ENTERPRISE ZONE CONCEPTS AS OUTLINED
BY THE CITY OF KF'RRVrTa,F, gUBJECT TO
THE APPROVAL OF THE COUNTY ATTORNEY
April 19, 1990
Vol. R, Pq. 808