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Orange council approves suite of economic development grants, tax rebates and contracts
Summary
The City Council approved multiple Economic Development Corporation grants, Chapter 380 tax‑incentive agreements and local contracts — including a potential $2 million infrastructure grant for Project Capstone — and awards for local business and park improvements, all by voice vote.
The City Council of the City of Orange on March 10 approved a package of economic development actions that city staff said aim to attract investment and support local projects.
Council voted to approve three related items for Cadence Development Partners’ Project Capstone: an EDC infrastructure grant for eligible improvements of up to $2,000,000, a Chapter 380 sales‑tax rebate (33% of the EDC portion) for 10 years, and a Chapter 380 property‑tax rebate equal to 100% of the incremental ad valorem tax on the property and improvements for 10 years. Mr. Trahan told the…
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