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<br />REQUE rr FOR CITY COUNCIL AGENDA ITEM <br /> <br />Department: <br /> <br /> <br />6 <br /> <br />Appropriation <br /> <br />Agenda Date Requested: Ju e <br /> <br />Requested By: <br /> <br />Source of Funds: <br /> <br />Account Number: <br /> <br />Report: <br /> <br />Resolution: <br /> <br />Ordinance: <br /> <br />Amount Budgeted: <br /> <br />Exhibits: Foreign Trade Zone Request Outlinp <br /> <br />Amount Requested: <br /> <br />Exhibits: Tax Impact Analysis for Clay Development <br />(Prepared by Consultant for Clay Development) <br /> <br />Budgeted Item: YES <br /> <br />NO <br /> <br />Exhibits: Tax Impact Analysis for Port Crossing <br />(Prepared by Consultant for Port Crossing) <br />Exhibits: F.mail from Trpy Boring rpgardingForeign Trade Zone <br />and question regarding Tax Abatements <br /> <br />Exhibits: Houston Chronicle Articles: <br />o City of Pasadena Presented with Trade Zone Proposal <br />o City of La Porte Approached about Foreign Trade Pact <br /> <br />SUMMARY & RECOMMENDATION <br /> <br />A consultant representing Clay Development has asked to speak to Council regarding the possibility of establishing <br />a Foreign Trade Zone. <br /> <br />We have provided some general information for Council regarding Foreign Trade Zones. <br /> <br />Note that the City has, in the past, issued a letter of support regarding foreign trade zones in our ETJ. They were <br />issued based on the premise that there was no affect on local ad-valorem taxes and on our Industrial District <br />Agreement. <br /> <br />If Council wishes to consider establishing Foreign Trade Zones we would need to understand the effect of such <br />declaration on other Economic Development Incentives, i.e. <br />o The Industrial District Agreements <br />o The Tax Abatement Guidelines <br />o The Tax Increment Reinvestment Zone <br /> <br />Included in that review Council may wish to consider the level oflocal participation (from 0-100%) which I <br />understand can be set by a separate agreement. This would still allow companies to benefit from exemption or <br />deferral from Federal duty. <br /> <br />Action Required by Council: <br /> <br />Receive direction from Council regarding letter of no objection and/or local participation in inventory exemption. <br /> <br /> <br />5 - ,31)-0 Lp <br /> <br />Date <br />