Discussion and possible action to enter into a Tax Abatement Agreement, pursuant to Webb County’s Guidelines and Criteria under the Property Redevelopment and Tax Abatement Act, Chapter 312 of the Texas Tax Code, as requested by Cedro Hill Wind, LLC, for approximately $141,000,000 in improvements related to the generation of electricity using wind turbines for a ten year period and being a 100% tax abatement of ad valorem taxes (maintenance and operation only), with payments in lieu of taxes (pilot payments) to be made annually to Webb County and any matters incident thereto; authorizing the County Judge to sign all relevant documents. [No effect on current county budget]
Background:
The property subject to the abatement agreement comprises approximately 24,600 acres and is located approximately 34 miles east of Laredo and north of the town of Oilton within the Webb County Cedro Hill Wind Reinvestment Zone Number 1.