O-2010-3245 adopting new Guidelines and Criteria Governing Tax Abatement Agreements

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(m) "Other Basic Industry Facility" means buildings and structures including fixed machinery and equipment not elsewhere described, used or to be used for the production of products or services which primarily serve a market in the creation of new permanent employment and bring in new wealth. (n) "Owner of taxable real property" shall mean the person, corporation, company or other entity responsible for paying property taxes on certain property or an interest therein including a leasehold interest or interests. (o) "Regional Distribution Center Facility" means buildings and structures, including fixed machinery and equipment, used or to be used primarily to receive, store, service or distribute goods or materials owned by the facility operator where a majority of the goods or services are distributed to points outside the city. (p) "Regional Entertainment Facility" means buildings and structures, including fixed machinery and equipment, used or to be used to provide entertainment through the admission of the general public where the majority of users reside outside the city. (q) 'Regional Service Facility" means buildings and structures, including fixed machinery and equipment, used or to be used to service goods where a majority of the goods being serviced originate outside the city. (r) "Retail Facility" means buildings and structures used or to be used for the conducting and management of business, including the storing and selling of goods directly to the customer. Section 66-142. ABATEMENT AUTHORIZED (a) Authorized Facility. A facility may be eligible for abatement if it is a: Regional Distribution Center Facility that is rail -served, Regional Service Facility that is rail -served, Manufacturing Facility, Other Basic Industry, Regional Entertainment Facility, Commercial Office Facility, or Retail Facility. (b) Creation of New Value. Abatement may only be granted for the additional value of eligible real property (including fixed -in-place machinery and equipment) listed in an abatement agreement between the City and the property owner and lessee (if required), subject to such limitations as City Council and the property tax code may require. (c) New and Existing Facilities. Abatement may be granted for new facilities, the expansion of existing facilities, or the improvement to existing facilities having the effect of improving current environmental conditions. (d) Eligible Property. Abatement may be extended to the value of buildings, structures, fixed machinery and equipment, site improvements plus that office space and related fixed improvements necessary to the operation and administration of the facility. The value of all property shall be the Certified Appraised Value for each year, as finally determined by the County Appraisal District ("HCAD"). -5-