File #: 11-520    Name:
Type: Resolution Status: Approved
In control: City Council Regular Meeting
On agenda: 11/1/2011 Final action: 11/1/2011
Title: Consider/Discuss/Act on a Resolution Requesting that Properties Located within a City-Initiated, Tax Increment Reinvestment Zone be Eligible for Participation in the Proposed Collin County Policy Regarding Tax Abatements and the Proposed Collin County Economic Development Chapter 312 Tax Abatement Program (“The 50/3 Plan”)
Attachments: 1. Resolution, 2. Collin County Tax Abatement 50-3 Draft Plan, 3. Collin County Policy on Tax Abatements

Title

Consider/Discuss/Act on a Resolution Requesting that Properties Located within a City-Initiated, Tax Increment Reinvestment Zone be Eligible for Participation in the Proposed Collin County Policy Regarding Tax Abatements and the Proposed Collin County Economic Development Chapter 312 Tax Abatement Program (“The 50/3 Plan”)

 

Summary

 

MEETING DATE:                     November 1, 2011

 

DEPARTMENT:                      City Council

 

CONTACT:                       Jason Gray, City Manager

 

 

RECOMMENDED CITY COUNCIL ACTION:                     

•                     Approval of Resolution

 

ITEM SUMMARY: 

•                     This Resolution is a request to the Collin County Commissioners’ Court for inclusion of properties within City of McKinney tax increment reinvestment zones (TIRZs) to be eligible for participation in the County’s proposed policies on tax abatement and Chapter 312 economic development tax abatement program (known as the 50/3 Plan) set for consideration in December 2011.

 

BACKGROUND INFORMATION:

•                     N/A

 

FINANCIAL SUMMARY:

•                     N/A

 

BOARD OR COMMISSION RECOMMENDATION:

•                     N/A