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City council approved assignment of 2019 Conroe tax abatement; CIDC informed and a resident urged more transparency
Summary
City council approved assigning a 2019 tax abatement for property owned by Conroe Owner LLC to Texas Equity Funding; CIDC received the item as information. A resident at the CIDC meeting asked for clearer online access to agendas and asked how abatements are documented with the comptroller and recorded when properties change hands.
Conroe City Council approved assigning a 2019 tax abatement agreement for property in Conroe’s industrial park from Conroe Owner LLC to Texas Equity Funding, and city economic development staff presented that action to the Conroe Industrial Development Corporation on June 26 as an information item.
Mr. Garner told the CIDC board the assignment had been discussed in a city council workshop the day before and approved by council earlier the same day. He said the abatement has two years remaining: a 40% step…
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