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<br />City of La Porte <br />Interoffice Memorandum <br /> <br /> <br />To: <br /> <br />Mayor and City Council <br />Debra B. Feazelle, . <br /> <br />From: <br /> <br /> <br />Manager <br /> <br />Date: <br /> <br />February 8, 2005 <br /> <br />Subject: <br /> <br />Tax Abatement: Proposed Guidelines & Criteria <br /> <br />After the January 24 Workshop, Council was asked if they wished to consider tax <br />abatement for projects that increased assessed value by $1,000,000 but created less than <br />25 jobs. <br /> <br />Some Council have responded and suggested that we consider a second scale. I noted <br />another city that had created a second tier of abatement for fewer jobs created. The <br />investment level, number of jobs and the abatement level were in essence cut in half. <br /> <br />Attached is a substitute page 7 for Council to consider. I have left the investment level at <br />$1,000,000, lowered the jobs created to 10 and also lowered the abatement level by one- <br />half. The sheet will be available for Council's consideration at the February 14 Council <br />Meeting. <br /> <br />JJ/ml <br />c: Cynthia Alexander, Assistant City Manager <br />Knox Askins, City Attorney <br />