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16.

Meeting Date:	01/26/2015
Celadon Tax Abatement
Submitted for:	Marah Mendez	Submitted By:	Marah Mendez, County Attorney
Department:	County Attorney

Subject:

Public hearing with discussion and possible action to approve a Resolution and Order approving a Webb County Economic Development Grant/Tax Abatement Agreement and Tax and creating of Tax Abatement Zone No. 5 as authorized by Article III, Section 52-a of the Texas Constitution and Chapter 381, Section 381.004 of the Texas Local Government Code by and between Webb County and CELADON TRUCKING, INC., for a grant of public money in the form of annual ad-valorem tax abatements for a term of Five (5) years, in exchange for the investment and development of real and personal property improvements in the sum of Thirteen Million Dollars ($13,000,000) and the creation of at least 10 full time jobs upon The “Surface Only” of approximately a 50.20 (2,186,532 Sq. Ft.) acre tract of land, situated in Porcion 12, Santiago Sanchez, Original Grantee, Abstract 278, Webb County, Texas; located West of I.H. 35, and being out of a tract known as N.D. Hachar Ranch containing 6,132.06 acres as recorded in Volume 303, Pages 164-173, Deed Records of Webb County, Texas, and as further described by metes and bounds description.

CLOSE PUBLIC HEARING

Background:

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Previous Court Action:

Fiscal Impact

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Attachments
Tax Abatement
Resolution
Agreement - Tax Abatement - Celadon - Executed