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    (8) (a)    
CITY COMMISSION REGULAR MTG
Meeting Date: 05/04/2022  
Texas City Gulf Coast Reinvestment Zone No. 2
Submitted For: Garrett McLeod Submitted By: Rhomari Leigh, City Secretary
Department: Economic Development  

Information
ACTION REQUEST (Brief Summary)
Consider and take action on Ordinance No. 2022-09, designating a reinvestment zone to be known as the "Texas City Gulf Coast Reinvestment Zone No. 2" for purposes of commercial-industrial tax abatement and making certain findings of fact in accordance with Section 312.201 of the Texas Tax Code. (Economic Development)
BACKGROUND
The designation of “Texas City Gulf Coast Reinvestment Zone No. 2” is in conjunction with the proposed Dock 68 located at the Oiltanking Texas City Terminal.  Oiltanking made an application for a Chapter 312 agreement, and has been working with staff on this particular item.  It has been deemed by staff, and according to our Chapter 312 Guidelines, that this project qualifies for a tax abatement.  The purpose of the abatement is to provide an incentive for the creation of new industrial facilities and the creation of primary jobs. 
ANALYSIS
ALTERNATIVES CONSIDERED

Fiscal Impact
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Ordinance

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