Item 6A - Presentation I1I j
H
Item 6A - Approval of Resolution No. �= :
26-016, adopting a tax abatement policy
ACKGROUND
CHAPTER 312 - TEXAS TAX •D
• POLICY REQUIRED TO SPECIFY TERMS AND CONDITIONS FOR LOCAL TAX ABATEMENT
• MUST INCLUDE PROVISIONS FOR BOTH NEW FACILITIES AND EXPANSION OR MODERNIZATION OF EXISTING
FACILITIES
RESOLUTION No. . 1
• FIRST ENACTED AND ADOPTED FOR A 2-YEAR TERM
RESOLUTION No. 18-011
• RENEWED FOR A 2-YEAR TERM
RESOLUTION No. 20-012-1
• RENEWED FOR A 2-YEAR TERM
• 1 • • 1 1
"% am
• RENEWED FOR A 2-YEAR TERM
RES
• • • 1
• RENEWED FOR A 2-YEAR TERM ►�1 SLLLL. 1
ExPANSION OR
FACILITIESNEW • • MODERNIZATION OF •
STRUCTURES ExiSTING FACILITIES OR
STRUCTURES
$30,000,000 MINIMUM $10,000,000 MINIMUM 2-YEAR TERM
ADDED VALUE ADDED VALUE
Now
I REVIEW PROVISION
1,000 FULL-TIME JOBS 500 FULL-TIME JOBS
RELATED TO ACTIVE
MINIMUM MINIMUM AGREEMENTS
A'-
:$70,000:AVERAGE ; $60,000:AVERAGE
ACTIVE TAX ABATEMENT
ANNUAL TOTAL ANNUAL TOTAL AGREEMENTS WITH
TD
COMPENSATION COMPENSATION VARISPACE &
ARISP
1.�
54UTHLAKE
' Goal Actual ' '
�� •• Goal Actual
Minimum : : . • : Minimum
added value • :
added value
Full-Time Job
Creation � � Full-Time Job � � � �, •
Creation
Average
e
Annual Annual Total Average
Al Total
Compensation
Compensation
INTEGRITY City of South lake Strategy Map
INNOVATION
TEAMWORK The mission of the City of Southlake is to provide municipal services that support
EXCELLENCE the highest quality of life for our residents, a supportive environment for local
ACCOUNTABILITY businesses, and unique and special experiences for visitors.
We �P, j� on
we
We
Our Focus Areas We Serve We Provide - - - • _
. IFinancial T1h— •
• • Busill rowt
Safety & Security
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`10, Delivering outstanding Safeguarding the 1 131 Achieving strong Defining and managing
Infrastructure & customer experiences I public trust through I outcomes through a professional workplace
Development through innovation, I a commitment to I continual evaluation culture that supports
passion, and a strong I thoughtful planning and I and pursuit of better City values and promotes
culture. ' responsible, conservative 1 practices that improve a positive employee
Enhancing the sense financial manaLeement. core business operations. experience.
of community by Investing to provide& Collaborating with select Fostering positive
proactively creating maintain high quality partners to implement employee engagement.
opportunities for public assets. service solutions
Partnerships & Attracting, developing &
community partnerships, B3 Maintaining an retaining a talented and
or, Volunteerism volunteer involvement,
and citizen engagement. environment of motivated workforce
future readiness by for lasting world class
understanding and performance.
acting upon the forces,
trends, and coming
Performance challenges affecting
Management & services. Ec
Service Delivery
C =Customer Objectives F= Financial Objectives B=Business Objectives i� L Learning&Growth Objectives
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QUESTIONS
DANIEL CORTEZ (817) 748-8039
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