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<br />REQUEST FOR CITY COUNCIL AGENDA ITEM <br /> <br />Agenda Date Requested: November 6, 2006 <br /> <br />Budl!et <br /> <br />Requested By: John Joerns <br /> <br />Source of Funds: <br /> <br />Department: <br /> <br />Administration <br /> <br />Account Number: <br /> <br />Report: <br /> <br />Resolution: <br /> <br />Ordinance: <br /> <br />x <br /> <br />Amount Budgeted: <br /> <br />Exhibits: <br /> <br />Ordinance 2006- <br /> <br />Amount Requested: <br /> <br />Tax Abatement Agreement <br /> <br />Budgeted Item: YES NO <br /> <br />Exhibits: <br /> <br />Exhibits: "A" La Porte Guidelines and Criteria Governing <br />Tax Abatement Agreement <br /> <br />Exhibits "B" Preferred Freezer Application for Tax Abatement <br /> <br />Exhibits "C" Legal Meets and Bounds Description <br /> <br />Exhibits Letters of Notice to San Jacinto College District, Harris County Commissioners Court and LPISD <br /> <br />SUMMARY & RECOMMENDATION <br /> <br />On October 23,2006 City Council approved a Public Hearing date for establishing a Reinvestment Zone and <br />authorized staff to publish said Public Hearing date and provides notice to other taxing entities as prescribed by <br />Chapter 312 of the Texas Tax Code for Preferred Freezer. <br /> <br />At the November 6, 2006 City Council meeting the Public Hearing was held and Ordinance 2006-_ was approved <br />by Council designating a 10.115 Ac tract as La Porte Reinvestment Zone "C" - "Preferred Freezer Services Houston <br />Port, LLC." <br /> <br />This Public Cold Storage Distribution Center is contracted to add $10,483,492 in value and create 35 new jobs <br />within the City of La Porte. <br /> <br />With assistance from Harris County Office of Econornic Development, the staff has reviewed the application for <br />conformance with the City's guidelines and prepared a Tax Abatement Agreement for Council's consideration. <br /> <br />The application and proposed abatement agreement meet the city's established guidelines. <br /> <br />Action Required bv Council: <br /> <br />Approve ordinance 2006-_ authorizing a Tax Abatement Agreement between the City of La Porte and <br />Preferred Freezer Services Houston Ports, LLC. for real Property located in the La Porte Reinvestment Zone "C". <br /> <br /> <br />1~f~6 <br /> <br />Date <br />