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(A) Pursuant to Tex. Property Tax Code, Ch. 312, V.A.C.S., the city is authorized to designate Reinvestment Zones in areas of the city, to enter into tax abatement agreements with regard to properties located in Reinvestment Zones, and to enter into tax abatement agreements with regard to properties for which a municipality has given tax abatement incentives by agreement.
(B) The Tex. Property Tax Code, § 312.002, V.A.C.S., requires that the city establish guidelines and criteria governing tax abatement agreements. These guidelines and criteria are for the purpose of promoting the efficient and reasonably consistent administration of tax abatement incentives. These guidelines are effective, until revised, from the date adopted by the City Council. A 3/4 vote by the City Council is required to amend or repeal these guidelines.
(C) These guidelines and criteria, and the procedures established herein, do not:
(1) Limit the discretion of the City Council to decide whether to enter into a specific tax abatement agreement;
(2) Limit the discretion of the City Council to delegate to its employees the authority to determine whether or not the City Council should consider a particular application or request for tax abatement; or
(3) Create any property, contract or other legal right in any person to have the City Council consider or grant a specific application or request for tax abatement.
(Ord. 641, passed 11-20-2006; Am. Ord. 715, passed 4-18-2011)