Board of Directors Regular Meeting Agenda


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Meeting Date: 03/26/2014  

SUBJECT MATTER:
Receive, consider and act upon approval of a tax abatement agreement between The Woodlands Township and The Woodlands Land Development Co. (Owner) and Kiewit Energy Group, Inc. (Tenant);
FISCAL IMPACT:

To be determined

BACKGROUND:
On Monday, March 10, 2014, Montgomery County Commissioner’s Court approved a tax abatement agreement with The Woodlands Land Development Company, L.P. (Owner) and Kiewit Energy Group Inc. (Tenant) for certain property located within The Woodlands Township. The Township adopts a Tax Abatement Policy every two years to mirror the Montgomery County Tax Abatement Policy; the current policy was adopted by the Township Board on December 12, 2013.

The Woodlands Township does not consider granting tax abatements until a tax abatement has first been approved by the County. All tax abatement requests and related documentation are confidential until approved by the County.

Attached for your information is a memo from Tax Assessor J.R. Moore summarizing the proposal, which includes a copy of the approved Montgomery County abatement agreement; along with a draft Township abatement agreement. Also included is a copy of the Township’s current tax abatement policy which was approved by Township Resolution 020-13 on December 12, 2013.

Please note that the information included in the summary letter from J.R. Moore was revised slightly for the final agreement. In the case of a discrepancy between the summary and the approved Montgomery County abatement agreement, please refer to the approved agreement for the correct terms.
RECOMMENDATION:
Board to determine action
Attachments
Calc
Township Kiewit Abatement
Township Abatement policy


    

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