Chapter 380 of the Texas Local Government Code allows Texas municipalities to provide grants or loans of urban funds or services to promote economic development. A Chapter 380 development agreement avoids the need for public incentives in advance and only comes into force when a project is operational, thus avoiding the prospect of a failed development that takes dollar incentives. These and other development agreements with the City of Kyle are available on our website. As part of the agreement, performance measures are linked to incentives. Development must, for example. B obtain VAT refund: under a Chapter 380 agreement, a developer and a tax service negotiate a contract to create VAT incentives in return for the project`s execution frameworks. The agreement is expected to help the company offset some of the construction and infrastructure costs. At the meeting, Mayor Todd Webster said, “I think the development agreement with IGP is the best outcome for all parties involved.” Under the terms of the agreement, the City of Kyle will create economic development incentives under Chapter 380 of the Texas Local Government Code. Eligible programs “must aim to promote the economic development of the state or region by stimulating commercial and commercial activities within the city,” the code states. Kyle City Council voted Wednesday in favor of a development agreement with pGI Investments for their 47-hectare estate on Yarrington Rd – Interstate-35. The movement led 6-0; Daphne Tenorio, a member of the Council, attended a conference. This development has been referred to as “Project Teal” in recent months, when city employees negotiated the agreement with the PGI.
For more information on 380 agreements, visit the Texas Municipal League:www.tml.org/legal_pdf/Chapter380-Local-GovCode.pdf The county can also develop and manage a program for a tax relief agreement. This tool allows counties to negotiate directly with developers and businesses. Projects are subject to individual evaluation. The maximum VAT reduction granted by law is 50%. The rebate must be used for authorized infrastructure improvements in the field. August 15-16, 2019: TML New Municipal Orientation – San Antonio May 16, 2019: TML 2019 Small Town Conference – Granbury Build 300,000 sq. of office, retail and hotel space Create at least 200 jobs Build the public infrastructure needed for development (e.g.B. public road and water/sewer pipes) After the recent conclusion of the 86th Texas Legislature, there are a number of invoices that have come into effect or are about to come into effect. Municipal and Economic Development Advocate Chris Nichols and consultant urban planner Craig Farmer, FAICP, will discuss municipal bills and their planning and zonarization practices at the upcoming Texas Municipal Clerks Certification Program. Narrator – Recent problems in the signature regulation organized by Scenic Texas, Texas Municipal League and Texas City Attorneys Association (September 16, 2010 – Austin).
During his meeting on small-town economic development, Chris Nichols will give participants an overview of the basic legal requirements for the economic development instruments available to Texas cities and how these instruments can be used to strengthen your local economy. December 17, 2020: Newly Elected Officials Virtual Workshop – Houston-Galveston Area Council This year, the Texas City League is virtually taking place with its annual conference on economic development. Covid has probably had an impact on all Texas municipalities, and this year`s conference focuses on how to turn crises into opportunities for revitalization, redevelopment and recovery.