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Taylor TIRZ No. 2 board approves amended financing plan and first amendment to Samsung tax abatement; elects vice chair
Summary
The Tax Increment Reinvestment Zone No. 2 Board approved Resolution R25-22 to amend the 2025 project and financing plan and approved the first amendment to the tax abatement agreement with Samsung Austin Semiconductor. The board also formalized its vice chair role as the mayor pro tem.
The Tax Increment Reinvestment Zone No. 2 Board in Taylor unanimously approved Resolution R25-22 on a motion to adopt an amended and restated 2025 project and financing plan and to approve the first amendment to the tax abatement agreement between the City of Taylor and Samsung Austin Semiconductor. The board also voted to designate the mayor pro tem as the board’s vice chair.
The action came during a short special meeting in which staff presented background on recent changes involving the zone and the company. “This is the final stretch,” said Mister Laborde, a city staff member, describing the item as a housekeeping action following multiple prior meetings in April, May and June to finalize amendments with Samsung.
The resolution and the tax-abatement amendment reflect two linked changes: the formal removal of Linde Gas property value from TIRZ No. 2 and revisions to wording in Samsung’s abatement defining occupiable and unoccupiable square footage. Laborde said the removal must be shown in the zone’s financial plan and reflected in reports filed with the Texas comptroller. He added the adjustment will return the removed value to the city’s tax roll rather than keeping it inside the TIRZ.
Councilman Bridal moved that the mayor pro tem position serve as vice chair; Councilwoman Long seconded the motion and the board approved it by voice vote. Mayor Pro Tem Kelly Samarica then moved to approve Resolution R25-22 and the first amendment to the tax abatement agreement between the city and Samsung; Councilwoman Cobb seconded. The motion passed unanimously.
Board members discussed the practical effect of removing Linde Gas from the zone’s tax roll, including that future revenues tied to that property’s value will be available to future councils for general purposes rather than being restricted to expenditures inside the TIRZ. Laborde said the city must file the amended financial plan and related reports with the Texas Comptroller in accordance with Chapter 311 of the Texas Tax Code.
The board did not state a specific dollar figure for the value removed from the zone during the meeting; a number mentioned by a board member was explicitly identified as an estimate and not presented as an official appraisal. Minutes and staff materials from prior sessions on April 30, May 8 and June 12 were referenced as the record of earlier steps that led to the current amendments.
With no further business, the board adjourned.
