Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Port Authority topic
No spam. Unsubscribe anytime.
Port authority term sheets, sales-tax exemptions discussed for Newman and Mansfield Forward
Summary
Presenters said the port authority has issued or is preparing term sheets for sales-tax-exempt financing for Newman and Mansfield Forward projects; a port meeting was being scheduled for the week of Aug. 24 to discuss deals.
Presenters told commissioners the port authority is handling term-sheet requests that would allow projects to pursue sales-tax-exempt financing on materials and equipment.
"Newman, got a term sheet yesterday, to go through the port for a sales tax exemption, on that project that is gonna have, some significant savings for them," Tom said. He added that another downtown Mansfield project has received or is obtaining a term sheet and that conversations with Buc-ee's about using the port remain ongoing.
A reporter asked whether the port authority has held meetings; presenters said a port meeting was being targeted for the week of Aug. 24 to discuss several pending deals, clean up outstanding items and consider term-sheet approvals.
Presenters cautioned some taxability questions may arise for projects that import building materials and that those issues will affect how the port and staff evaluate term-sheet requests.
