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File #: 20-19    Version: 1 Name:
Type: ITEMS FOR INDIVIDUAL CONSIDERATION Status: Agenda Ready
File created: 12/16/2019 In control: Office of Economic Development
On agenda: 1/22/2020 Final action:
Title: Authorize a business personal property tax abatement agreement with I-20 Distribution Park Phase I LLC and Zume, Inc. or an affiliate thereof ("Zume") for a period of five years in an amount equal to the City ad valorem taxes assessed as follows: 50% for year one; 40% for year two; 30% for year three; 20% for year four; and 10% for year five in connection with a biodegradable food package processing and manufacturing facility located at 9155 Southlink Drive in Dallas, Texas, in accordance with the City's Public/Private Partnership Program - Estimated Revenue Foregone: $2,237,750.00 over a five-year period
Indexes: 8
Attachments: 1. Map, 2. Resolution, 3. Exhibit A, 4. Exhibit B
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
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STRATEGIC PRIORITY: Economic and Neighborhood Vitality
AGENDA DATE: January 22, 2020
COUNCIL DISTRICT(S):|910|DEPARTMENT: Office of Economic Development
EXECUTIVE: Michael Mendoza
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SUBJECT

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Authorize a business personal property tax abatement agreement with I-20 Distribution Park Phase I LLC and Zume, Inc. or an affiliate thereof ("Zume") for a period of five years in an amount equal to the City ad valorem taxes assessed as follows: 50% for year one; 40% for year two; 30% for year three; 20% for year four; and 10% for year five in connection with a biodegradable food package processing and manufacturing facility located at 9155 Southlink Drive in Dallas, Texas, in accordance with the City's Public/Private Partnership Program - Estimated Revenue Foregone: $2,237,750.00 over a five-year period

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BACKGROUND

City staff has been in discussions with Zume, Inc. ("Zume") regarding the development of a new food packaging facility. The only site under consideration in Dallas is 9155 Southlink Drive ("Project Site") which has an existing 1,044,647.00 square foot warehouse facility ("Facility").

Headquartered in California, Zume designs and manufactures sustainable compostable, perishable packaging products. Zume has been in operation over four years and has production facilities in San Francisco, Mountain View, and Camarillo, California; Seattle, Washington; Greenwich, Connecticut; and Mumbai, India.

The proposed project will involve the build-out of the Dallas project site's infrastructure and production capacity which will be used to support one of the world's largest restaurant chains as well as other client accounts. The proposed facility will also include the build-out of an agricultural waste fiber processing facility that produces a renewable material for thermoforming equipment. Commencement of operations and start of production is estimated to be Quarter 1 2020.

Investment in ten...

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