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HomeMy WebLinkAboutCity Council Resolutions (R-02-1930)-04/02/2002 RESOLUTION R-02-1930 A RESOLUTION OF THE CITY OF COLLEYVILLE ADOPTING A POLICY FOR ECONOMIC DEVELOPMENT INCENTIVES WHEREAS, Texas State law provides for a home-rule municipality to offer various economic development incentives; and WHEREAS, the economic viability of the City of Colleyville depends upon the City's ability to attract new investment through the location of new business as well as the expansion-retention of existing business; and WHEREAS, the City of Colleyville must enhance its competitiveness with other localities in both the retention, expansion, and attraction of business. NOW, THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF COLLEYVILLE, TEXAS: Sec. 1. General Purpose and Objectives THAT the City of Colleyville is committed to the promotion and retention of high quality development in all parts of the City and to an ongoing improvement in the quality of life for its citizens. Insofar as these objectives are generally served by the enhancement and expansion of the local economy, the City of Colleyville will, on a case-by-case basis, give consideration to providing economic development incentives as stimulation for economic development in Colleyville. It is the policy of the City of Colleyville that said consideration will be provided in accordance with the procedures and criteria outlined in this document. Nothing herein shall imply or suggest that the City of Colleyville is under any obligation to provide economic development incentives to any applicant. All applicants shall be considered on a case-by-case basis. Sec. 2. Criteria THAT any request for economic development incentives shall be reviewed by the City Council. Their decision shall be based upon an evaluation of the following criteria, which each applicant will be requested to address in narrative format. Emplovment Impact . How many jobs will be brought to Colleyville? . What types of jobs will be created? . What will the total annual payroll be? Sec. 3. Resolution R-02-1930 Page 2 of 6 Fiscal Impact . How much real and personal property value will be added to the tax rolls? . How much direct sales tax will be generated? . How much of other revenues will be generated for the city for such items as franchise payments, occupancy taxes, utility revenues, etc.? . How will this project affect existing businesses and/or office facilities? . What City infrastructure construction would be required? What is the total annual operating budget of this facility projected to be? Community Impact . What effect would the project have on the local housing market? . What environmental impact, if any, will be created by the project? . How compatible is the project with the City's comprehensive plan? Types of Incentives THAT it is the policy of the City of Colleyville to customize the provisions of economic development incentives on a case-by-case basis. This individualized design of a total incentive package is intended to allow maximum flexibility in addressing the unique concerns of each applicant while enabling the City of Colleyville to better respond to the changing needs of the community. Consideration will be given to providing any type of economic development incentives not prohibited by state or federal law including, but not limited to: tax abatements, in-lieu-of free port exemptions, sales tax grants and other grants in general, as well as participation in infrastructure and waiver of fees. These economic development incentives are in addition to an ongoing tax increment financing program offered by the various taxing entities, which is not a part of this incentive program. The provision of incentives will be subject to the procedural and other requirements outlined in this document as well as those mandated by state or federal law, and by other actions of the City of Colleyville. Nothing within these guidelines shall imply or suggest that the City of Colleyville is under any obligation to provide any incentive to any applicant. All applicants shall be considered on a case- by-case basis. Sec. 4. Resolution R-02-1930 Page 3 of 6 Value of Incentives THAT following an assessment of the response provided to the criteria contained in Section II, the City Council shall determine whether it is in the best interests of the City of Colleyville that economic development incentives be offered to the applicant. Additional consideration, beyond the criteria, will include such items as the degree to which the project/applicant furthers the goals and objectives of the community or meets or compliments a special need identified by the City Council. Tax Abatements: A Tax Abatement may be offered in two categories: A. Real Property; or B. Business and Personal Property Real property abatements may be offered to applicants, which will pursue the construction of new or expanded facilities in which to house the applicable project. The abatement may apply to the value of improvements made. Business Personal property abatements may be offered to applicants, which will pursue the purchase or long-term lease of existing facilities. The abatement will apply to the value of new personal property brought into the taxing jurisdiction. Once a determination has been made that a tax abatement should be offered, the value and term of the abatement will be determined according to the following schedule: Value of Abatable PropertyYears of Abatement % of Abatement $ 1,000,000 to $ 1,999,999 $ 2,000,000 to $ 2,999,999 $ 3,000,000 to $ 3,999,999 $ 4,000,000 to $ 4,999,999 $ 5,000,000 to $ 5,999,999 $ 6,000,000 to $ 6,999,999 $ 7,000,000 to $ 7,999,999 $ 8,000,000 to $ 8,999,999 $ 9,000,000 to $ 9,999,999 $10,000,000 to $10,999,999 up to 75% up to 75% up to 75% up to 75% up to 75% up to 75% up to 75% up to 75% up to 75% up to 75% 1 2 3 4 5 6 7 8 9 10 Sec. 5. Resolution R-02-1930 Page 4 of 6 Grants in qeneral The City of Colleyville may agree to extend a grant based on the amount of revenues to be generated by the economic development project to the City of Colleyville for such categories as sales tax, occupancy taxes, utility fees, or similarly related revenues. Infrastructure Participation and Waiver of Fees The City of Colleyville may agree to a partial or complete cost participation for the extension, construction, or reconstruction of infrastructure necessary for the development of an economic development applicant's project. In addition, the City Council may approve the waiver of fees for, but not limited to, permit applicants, utility taps and similar fees. Procedural Guidelines THAT any person, organization or corporation desiring that the City of Colleyville consider providing economic development incentives to encourage location or expansion of operations within the city limits of Colleyville shall be required to comply with the following procedural guidelines. Nothing within these guidelines shall imply or suggest that Colleyville is under any obligation to provide economic development incentives in any amount or value to any applicant. Preliminary Application Steps A. Applicant shall complete an "Application for Economic Development Incentive" as provided by the City. B. Applicant shall address all criteria questions outlined in Section 2 above in a letter format. C. Applicant shall prepare a plat showing the precise location of the property, all roadways within 200 feet of the site, and all existing land uses and zoning within 200 feet of the site. If the property is described by metes and bounds, a complete legal description shall be provided. Applicant shall complete all forms and information detailed in items A through C above and submit them to the City Manager, City of Colleyville, 5400 Bransford Road, Colleyville, Texas 76034. Resolution R-02-1930 Page 5 of 6 Application Review Steps: A. All information in the application package detailed above will be reviewed for completeness and accuracy. Additional information may be requested as needed. B. The application will be distributed to the appropriate City departments for internal review and comments, Additional information may be requested as needed. C. Copies of the complete application package and staff comments will be provided to the City Council. Consideration of the Application A. The City Council will consider the application at a regular or called meeting(s). Additional information may be requested as needed. The City Council of Colleyville may consider a resolution calling a public hearing to consider establishment of a tax reinvestment or redevelopment zone or other zone designation as deemed appropriate. The City Council of Colleyville may hold the public hearing and determine whether the project is "feasible and practical and would be of benefit to the land to be included in the zone and to the municipality." The City Council of Colleyville may consider adoption of an ordinance or resolution, as deemed appropriate, designating the area described in the legal description of the proposed project. The City Council may consider adoption of a resolution approving the terms and conditions of a contract between the City and the applicant governing the provision of the economic development incentives. Resolution R-02-1930 Page 6 of 6 Sec. 6. Purpose of Policy THAT the policy herein adopted is intended as a guide for use in developing economic development incentive programs under the provisions of state law. Notwithstanding the policy herein established, the City Council of the City of Colleyville retains the right to act within the provisions of such act without the necessity of amending the general policy and/or purpose herein adopted. Sec. 7. Effective Date THAT this resolution shall become effective upon its passage. AND IT IS SO RESOLVED. AYES, DAY OF NAYS, AND 2002. PASSED BY A VOTE OF ABSTENTIONS ON THIS THE NO ACTION TAKEN BY COUNCIL ATTEST: CITY OF COLLEYVILLE Cynthia Singleton, TRMC City Secretary Donna Arp Mayor