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AI- 3772   4. A. 4.    
Commissioners Court - Regular
Meeting Date: 10/24/2012  
Tax Abatement Agreement - M&G Resins Group
Submitted By: Vicki Keach, Commissioners Court Admin
Department: Commissioners Court Admin  

Information
RECOMMENDATION
Discuss and consider adoption of resolution authorizing execution of agreement with M&G Resins USA, LLC, providing for a temporary property tax abatement.
BACKGROUND
DISCUSSION
M&G Resins USA, LLC has applied for a temporary property tax abatement for construction of their PET plants on the north side of the ship channel along the Joe Fulton Trade Corridor.  The company will invest approximately $751 million in the project which will create 220 new positions.  Under the agreement they would receive 100% abatement during the construction period (not to exceed 3 years), and 70% abatement for 7 years after construction.

Budget Information
Information about available funds
Budgeted: Funds Available: Adjustment: Amount Available:
Unbudgeted: Funds NOT Available: Amendment:
Account Code(s) for Available Funds
1:
Fund Transfers

Attachments
No file(s) attached.

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