| | | | | | | |  |
CITY OF HOUSTON - CITY COUNCIL
Meeting Date: 10/29/2019
District A
Item Creation Date: 10/16/2019
MYR - Brittmore Founders District RZ set hearing
Agenda Item#: 29.
| |
|
| | | | | | | | Summary:
M2019-0553 SET A PUBLIC HEARING DATE regarding the designation for the BRITTMORE FOUNDERS DISTRICT, GP, LLC REINVESTMENT ZONE for tax abatement purposes - DISTRICT A - STARDIG
HEARNG DATE - 9:00 A.M. - WEDNESDAY - DECEMBER 4, 2019 |
| | | | | | | | Background:
SUBJECT: A motion to set a public hearing date for December 4, 2019 regarding the designation for the Brittmore Founders District, GP, LLC. Reinvestment Zone for tax abatement purposes.
RECOMMENDATION: (Summary) A motion to set a public hearing date for December 4, 2019 regarding the designation of the Brittmore Founders District. Reinvestment Zone for tax abatement purposes.
SPECIFIC EXPLANATION:
State law requires cities to adopt tax abatement guidelines and criteria before entering into tax abatement agreements, and each approved abatement agreement must meet those guidelines. State law also provides that cities’ tax abatement guidelines and criteria expire after two years. City Council renewed the tax abatement guidelines and criteria on May 16th, 2018. Sec. 312.201 of the Texas Tax Code requires that the City hold a public hearing before it can adopt an ordinance designating an area as a reinvestment zone.
Brittmore Founders District, GP, LLC. (the “Company”) is proposing the development of an innovation business and workplace complex designed by entrepreneurs for fostering and growing startups and small businesses. The Company submitted a tax abatement application to the City on September 7, 2018, with all supporting documentation. The proposed development consists of 180,000-sq. ft. of modern office space, 60,000-sq. ft. of co-working space, 180,000-sq. ft. of destination and neighborhood-serving restaurant, retail and commercial, a regional community events center and 250+ units of multi-family to be located at 1336 Brittmore Houston, Texas. The Company plans to invest between $150 million to develop the Project.
The City has reviewed the Company’s tax abatement application, and the proposed tax abatement agreement was presented to the Economic Development Committee on February 14, 2019. The proposed date of the public hearing is December 4, 2019.
The hearing notice will be published in the Houston Chronicle 30 days prior to the public hearings as statutorily required.
_________________________________________________________________
Andrew F Icken, Chief Development Officer |
| | | | | | | | Prior Council Action:
Ord. No. 2018-391, 5/16/18 |
| | | | | | | | Amount and Source of Funding:
Not applicable |
| | | | | | | | Contact Information:
______ Gwendolyn Tillotson Phone: 832.393.0937 |
| ATTACHMENTS: | | Description | Type | | Coversheet | Signed Cover sheet |
|
|