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of said new construction had been within the <br />corporate limits of City and appraised by City'.s <br />independent appraiser, in accordance with the <br />applicable provisions of the Texas Property Tax <br />Code. The eligible period for application of said <br />thirty percent (30%) "in lieu" rate shall be for a <br />total of six (6) Value Years. <br />In the case of new construction which is completed <br />in Value Year 2028 or later, and provided, further, <br />that City and Company enter into an Industrial <br />District Agreement after the expiration of this <br />Industrial District Agreement, then, and in such <br />events, such new construction shall be entitled to <br />additional Value Years under the new Agreement at a <br />Thirty percent, (30%) valuation under this <br />subparagraph (a), for a total of six (6) Value <br />Years, but not extending beyond Value Year 2034. <br />In the case of new construction which was completed <br />in Value Years 2016 through 2019 in accordance with <br />the previous Industrial District Agreement between <br />City and Company, such new construction shall be <br />subject to a Twenty percent 20%)valuation through <br />Value Year 2022, and a Thirty (30%) valuation for <br />any additional Value Years beyond Value Year 2022, <br />for a total of six (6) Value Years. <br />(b) Application of the thirty percent (30%) "in lieu" <br />rate for Substantial Increase in value of the Land, <br />improvements, and tangible personal property <br />dedicated to new construction is limited to new <br />construction purposed for or related to <br />manufacturing and processing uses. In no case shall <br />Company be entitled to application of the thirty <br />percent (30%) "in lieu" rate for Substantial <br />Increase in value of the Land, improvements, and <br />tangible personal property dedicated to new <br />construction where the new construction is purposed <br />for or related to uses for warehousing, storage, <br />distribution, and/or general freight trucking and <br />transportation, as well as general commercial <br />uses, such as truck stops, rental facilities, or <br />repair shops. <br />(c) A Substantial Increase in value of the Land, <br />improvements, and tangible personal property <br />(excluding inventory) as used in subparagraph 2(a) <br />above, is defined as an increase in value that is <br />5 <br />