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Red Oak council renews tax-abatement eligibility, adopts guidelines and designates Reinvestment Zone 14; project manager identifies developer team
Summary
Council voted 5-0 to reauthorize participation in tax abatement, adopt tax-abatement guidelines, and to designate Reinvestment Zone No. 14, creating eligibility for future abatement agreements for a multi-parcel development; staff and applicants said designation does not itself grant any abatement.
The Red Oak City Council voted unanimously Aug. 11 to re-elect to participate in tax abatement under Chapter 312 of the Texas Tax Code, adopt updated guidelines and criteria for tax abatement, and to designate Reinvestment Zone No. 14 to make a multi-parcel site eligible for future abatement agreements.
City staff explained that the two resolutions (one reestablishing participation in tax abatement and the other adopting guidelines) and the ordinance to designate a…
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