Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Economic Development topic
No spam. Unsubscribe anytime.
Council establishes RELLIS Reinvestment Zone No. 3; tax-abatement terms to return in December
Summary
The Bryan City Council voted unanimously to establish RELLIS Reinvestment Zone No. 3 under Texas Tax Code chapter 312. Staff said the designation is a statutory prerequisite to any tax abatement agreement; detailed abatement terms will return to council, tentatively Dec. 9.
The Bryan City Council unanimously approved an ordinance to designate RELLIS Reinvestment Zone No. 3, a step city staff said is required before the council can consider any tax abatement tied to a prospective business on the RELLIS campus.
City staff told the council the ordinance identifies the parcel(s) on the RELLIS campus that the city proposes to include in the reinvestment zone. The presiding chair noted that specific commercial terms are under a confidentiality agreement and therefore were not discussed in open session. A staff member explained, “the first thing that has to happen is that we have to establish the reinvestment zone,” and that only after the zone is established can the city negotiate a tax abatement agreement for which full terms would be brought back to council.
Council members were told staff is targeting Dec. 9 to return with a tax-abatement agreement that will contain the negotiated terms. Staff representatives said there will be additional public notices if a final agreement is reached.
The motion to adopt the ordinance was made and seconded on the council floor and passed unanimously. The council did not receive public comment at the hearing.
Next steps: staff will return to council with a proposed tax-abatement agreement and full terms on the schedule described by staff.
