Board of Directors Regular Meeting Agenda


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Meeting Date: 10/26/2016  

SUBJECT MATTER:
Receive, consider and act upon adoption of a resolution regarding guidelines and criteria for considering tax abatement agreements by The Woodlands Township;
FISCAL IMPACT:
Varies
BACKGROUND:
In 2009, The Woodlands Township adopted Resolution 012-09 establishing guidelines and criteria for considering tax abatement agreements by The Woodlands Township. A taxing unit, including the Township, cannot offer tax abatement until it has first adopted guidelines and criteria for considering tax abatement applications. To meet this requirement in 2009, the Board adopted the same guidelines and criteria for evaluating future tax abatement applications as used by Montgomery County, for a period of two years. In 2011 and 2013, the Township followed the same procedure and adopted resolutions based on the Montgomery County Tax Abatement Policy Guidelines and Criteria.
 
In 2014, Montgomery County adjusted its policy related to the amount of minimum/maximum value for all categories, among other changes, and their policy took effect on October 1, 2014. The Township passed its current policy on September 18, 2014, to continue to follow the same process and take effect at the same time as the Montgomery County policy.
 
On October 11, 2016, Montgomery County adopted a resolution updating the guidelines and criteria for considering tax abatement applications. In order to remain consistent with the County, it is recommended that the Board adopt a resolution to use the current County Policy for all future abatement considerations. Attached is the memo from the County Attorney detailing the major changes in the 2016 County policy. 
 
Tax abatement guidelines and criteria are in effect for a term of two years, unless amended earlier. Having tax abatement guidelines and criteria (policy) does not oblige the Township to provide tax abatements. Prospective tax abatements are only considered by The Woodlands Township after a County tax abatement agreement has been approved; however, the granting of a tax abatement by Montgomery County does not oblige the Township to enter into a tax abatement agreement. Each request for a tax abatement agreement would continue to be considered by the Township Board on a case-by-case basis.
RECOMMENDATION:
Adopt Resolution 014-16 establishing guidelines and criteria for considering tax abatement agreements by The Woodlands Township.
Attachments
Montgomery County Memo regarding Policy Changes
Proposed Resolution 014-16 Regarding Tax Abatement Guidelines and Criteria


    

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