§ 44-129. Brownfield development abatement authorized.

(a)

Creation. A property tax abatement program is hereby created for brownfield development abatements to be administered in accordance with Chapter 312 of the Texas Tax Code.

(b)

Authorized facility. A facility shall be eligible for brownfield development abatement if it is real property or tangible personal property located on real property that is:

(1)

Located in a reinvestment zone;

(2)

Not an improvement project financed by tax increment bonds; and

(3)

The subject of a voluntary cleanup agreement under Section 361.606 of the Texas Health & Safety Code.

(c)

Eligible property. The following types of property are eligible for brownfield development abatement:

(1)

Land;

(2)

Buildings;

(3)

Structures;

(4)

Fixed machinery and equipment;

(5)

Site improvements; and

(6)

Tangible personal property located on the real property.

(d)

Ineligible property. The following types of property are ineligible for brownfield development abatement:

(1)

Property that is owned or used by the State of Texas or its political subdivisions or by an organization owned, operated or directed by a political subdivision of the State of Texas; and

(2)

Property that is owned or leased at any time during the term of an abatement agreement by a member of city council or by a member of the city planning commission.

(e)

Value and term of the abatement. Abatement shall be granted effective upon the January 1 valuation date immediately following the date the owner of the brownfield facility receives a certificate of completion for the property under Section 361.609 of the Texas Health and Safety Code. A brownfield facility is eligible for abatement according to the following sliding scale:

Year Abated	Percentage of Value Abated
1	100%
2	75%
3	50%
4	25%

 

Provided, however that no abatement shall be given in a year in which the use of the brownfield facility is changed from the use specified in the certificate of completion and the city council determines that the new use may result in an increased risk to human health or the environment.

(f)

Taxability. From the date of execution of the abatement agreement to the end of the abatement period, the value of eligible property shall be taxable in the manner described in subsection (e) of this section.

(Ord. No. 2018-391 , § 2(Exh. A), 5-16-2018)