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Council approves tax‑reimbursement deal for Technology Towers to support building reuse and jobs
Summary
The San Angelo City Council authorized a property‑tax reimbursement agreement with Technology Towers LLC under Texas Local Government Code Chapter 380 to reimburse up to 75% of the city’s share of the increased value for five years beginning tax year 2026; council emphasized job commitments and potential wage language to be included in the contract.
The San Angelo City Council voted to authorize the city manager to negotiate and execute an agreement with Technology Towers LLC that will reimburse up to 75% of the increase in the city portion of property taxes for a period not to exceed five years, commencing with tax year 2026. Council members and staff said the reimbursement is intended to support a multi‑million dollar rehabilitation of an existing building and to secure and retain local jobs.
City staff described the underlying deal as a reimbursement — the company pays taxes up front and the city issues rebates after compliance is verified. A staff presenter said the project involved about $6.5 million in recent investment and that the combined operation would employ about 59 people. During discussion, a council member asked whether the agreement could require a wage floor; staff replied that wage commitments and other performance measures could be incorporated into the draft contract. "They're gonna maintain I think the, in the contract, it's gonna be 59 employees combined between the 2 entities," a staff presenter said when summarizing the commitments. The council voted 7‑0 to approve the item.
