Print PDF Return
AI- 8604   4. A. 2.    
Commissioners Court - Regular
Meeting Date: 07/26/2017  
Tax Abatement Amendment No. 1 - M&G Resins Group
Submitted By: Tyner Little, Commissioners Court Admin
Department: Commissioners Court Admin  

Information
RECOMMENDATION
Discuss and consider approval of Amendment No. 1 to the Tax Abatement Agreement with M&G Resins USA, LLC.
BACKGROUND
This amendment provides for the anticipated delay in completion of construction from 3 years to 5 years.
DISCUSSION
M&G Resins USA, LLC 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, 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
Abatement Amendment No. 1
1295 Form M&G Resins
1295 Form M&G Waters

AgendaQuick©2005 - 2020 Destiny Software Inc., All Rights Reserved