Board conditionally backs America’s Foundry JETI tax-incentive application

Bryan ISD trustees voted unanimously Sept. 23 to declare their conditional willingness to accept terms for America's Foundry Texas LLC’s tax-incentive application under the state’s Jobs, Energy, Technology and Innovation (JETI) program. Trustee Leo Gonzalez II moved to accept the recommendation and Trustee Joel Bryan seconded; the motion passed unanimously.

Assistant Superintendent of Business Services Kevin Beesaw introduced consultants Mali Hanley (O'Hanlon, Demerath & Castillo) and Kathy Mathias (MoakCasey), who said the district would implement a 10-year, 75% limitation on maintenance and operations (M&O) taxable value beginning in the 2030–31 school year through 2039–40, while the property would remain fully taxable for interest and sinking (I&S) purposes. Presenters projected a peak taxable value of $11.6 billion and estimated that adding the project to the I&S tax roll could generate about $464 million in additional I&S taxes over the agreement term at the current rate.

The Board moved into a closed session under Texas Government Code Chapters 551.071 and 551.087 for legal consultation on the JETI application and reconvened without taking action in closed session. In open session the Board approved a declaration of conditional intent under Government Code 403.611(b) and directed administration to return final agreement terms for Board consideration after America's Foundry and the Governor's office provide consent.

The action is a formal step authorizing staff to proceed toward a negotiated agreement; the Board did not execute a final agreement on Sept. 23.