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Council amends tax-abatement deed for A & A Texas Capital, strikes narrow product restriction but keeps recapture of incentives
Summary
The council adopted a resolution acknowledging that A & A Texas Capital met initial abatement conditions and approved a material correction to strike language that limited use of the property to wood-preservation manufacturing; other performance and recapture clauses for incentives remain in force.
The Crockett City Council approved a resolution finding that conditions in the city’s tax abatement and deed have been satisfied by A & A Texas Capital LP and approved a material-correction deed and a first amendment to the company’s tax abatement and incentive agreement.
City staff and the company’s CFO, Gary White, presented background showing the developer met early conditions in the agreement: the company began construction within the required timeframe and had already invested more than…
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