Tml 380 Agreement

As part of a Chapter 380 agreement, a developer and a tax administration negotiate a contract to create VAT incentives in exchange for project execution frameworks. The agreement is expected to help the company offset some of the construction and infrastructure costs. These and other development agreements with the City of Kyle are available on our website. Chapter 380 of the Texas Local Government Code allows Texas municipalities to provide grants or loans of urban funds or services to promote economic development. A Chapter 380 development agreement avoids the need for public incentives in advance and only comes into force when a project is operational, thus avoiding the prospect of a failed development that takes dollar incentives. Landkreis can also develop and manage a program for the conclusion of a tax relief agreement. This tool allows counties to negotiate directly with developers and businesses. As part of the agreement, performance measures are linked to incentives. For example, to obtain VAT refunds, Kyle City Council voted Wednesday in favour of a development agreement with IGP Investments for its 47-hectare property at Yarington Rd – Interstate-35. The movement led 6-0; Daphne Tenorio, a member of the Council, attended a conference.

At the meeting, Mayor Todd Webster said, “I think the development agreement with IGP is the best outcome for all parties involved.” Under the terms of the agreement, the City of Kyle will create economic development incentives under Chapter 380 of the Texas Local Government Code. Eligible programs “must aim to promote the economic development of the state or region by stimulating commercial and commercial activities within the city,” the code states. For more information on 380 agreements, visit the Texas Municipal League website: This development has been called “Project Teal” in recent months, when city employees negotiated the agreement through IGP. Here is a link to the presentation: Speaker / Author – 20th Annual Land Use Conference, April 2016, Austin, Texas. Topic focused on the U.S. Supreme Court decision of January 2015 in Reed to the city of Gilbert, which had consequences of the regulation of signature by local governments. This year, the Texas Municipal League is virtually taking place with its annual conference on economic development. Covid has probably had an impact on all Texas municipalities, and this year`s conference focuses on how to turn crises into opportunities for revitalization, redevelopment and recovery.

Economic development lawyer Chris Nichols will re-introduce, through the Chapter 380 agreements and beyond, whether they remain the “Right Stuff” for cities and their economic development programs for 2021 and beyond.

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