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City presents update on financial policies, tax-abatement and Chapter 380 programs
Summary
Assistant Director Jennifer Curley of the Mayor's Office of Economic Development presented an update to the committee on Houston's financial policies and incentive programs, including the tax-abatement and Chapter 380 programs, and described reporting and compliance requirements.
Assistant Director Jennifer Curley of the Mayor—s Office of Economic Development presented an update to the city—s financial policies to the Houston City Council Economic Development Committee, describing the reporting framework for incentive projects and the current status of tax-abatement and Chapter 380 agreements.
Curley told the committee that "the mayor's designee shall report annually to the economic development committee detailing the progress of each active project in which the city has provided an incentive through the tax abatement and chapter 380 programs" and that those reports must be published on the city's website within 30 calendar days of presentation to the committee (00:03:04). She said the city's financial policies were originally codified by a 1987 ordinance and are updated through the annual budget ordinance.
On the tax-abatement program Curley summarized that the program was established in 1988 and is located in Chapter…
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