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Council adopts new economic development incentive ordinance with scoring matrix; audit requirement included
Summary
The council approved an updated Texas Local Government Code Chapter 380 economic development incentive ordinance that creates separate matrices for new development and redevelopment, reduces the re-use timing for repeated incentives and requires annual audit reporting on program performance.
Missouri City Council approved an ordinance that revises the city’s economic development incentive program under Texas Local Government Code Chapter 380. The revision creates two distinct incentive tracks — one for new development that emphasizes job creation and property-tax revenue, and one for redevelopment that places greater weight on location — and establishes a points-based matrix to evaluate applications. Applications…
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