STRATEGIC PRIORITY: Economic Development
AGENDA DATE: January 11, 2023
COUNCIL DISTRICT(S): All
DEPARTMENT: Office of Economic Development
EXECUTIVE: Majed Al-Ghafry
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SUBJECT
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A public hearing to receive comments regarding the fourth extension of the Public/Private Partnership Program Guidelines and Criteria (PPP Guidelines), for the period January 1, 2023 through June 30, 2023 and upon closure of the public hearing authorize approval of the PPP Guidelines (Exhibit A) for the period January 1, 2023 through June 30, 2023 - Financing: No cost consideration to the City
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BACKGROUND
The Property Redevelopment and Tax Abatement Act (Texas Tax Code, Chapter 312) requires that any city desiring to adopt, amend, repeal, or reauthorize guidelines and criteria governing tax abatement agreements must hold a public hearing regarding such proposed adoption, amendment, repeal or reauthorization at which members of the public are given the opportunity to be heard.
The Dallas City Council approved the Public/Private Partnership Program Guidelines and Criteria ("Guidelines") on December 11, 2019, by Resolution No. 19-1959. The Guidelines were re-adopted through City Council Resolution Nos. 20-1972, 21-0696, and 22-0901 on December 9, 2020, April 28, 2021 and June 8, 2022 respectively. The Guidelines were effective through December 31, 2022.
On December 14, 2022, City Council deferred consideration of the new Economic Development policy until January 25, 2023. This item retains the previously adopted PPP Guidelines until June 30, 2023 or the approval of the proposed Economic Development policy by the City Council, whichever occurs earlier. City staff recommends extending the effective date of the PPP Guidelines to permit staff to continue negotiating and offering economic development incentives to promote economic development, stimulate private sector investment, encourage job creation, and grow th...
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