The Clear Creek ISD Board of Trustees voted to approve a foreign-trade-zone (FTZ) tax-equivalency and contribution agreement and authorized a letter of non-opposition for Argos Global Partner Services’ application to designate property at 9311 Bay Area Boulevard as an FTZ usage-driven site within Foreign Trade Zone No. 84.

Miss Ginzai (district staff) explained that inventory stored in a foreign trade zone is exempt from local ad valorem taxes, including school-district property taxes, and that businesses typically enter payment-in-lieu (PILOT) agreements with taxing entities. She said this agreement would have Harris County Appraisal District render the inventory value and the district would invoice Argos for an amount equivalent to the property taxes; this draft agreement contemplates a 100% tax-equivalency payment in the example presented.

Trustees discussed the incentive’s structure and one trustee described the proposal as a low-risk, pro-business measure. Trustee McKay moved to approve the FTZ tax equivalency and contribution agreement and the issuance of a non-opposition letter to support Argos’ designation; the motion passed with no recorded opposition.

The vote clears a local step in Argos’ application to the U.S. Department of Commerce Foreign Trade Zone Board. District staff said they engaged outside counsel (O’Hanlon, Demerath & Castillo) in drafting the agreement and will invoice the company annually based on inventory valuation.