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 the tax base in the City of Dallas pending City Council consideration of the proposed Economic Development policy.
Prior to approval of the Guidelines, the City desires to provide a reasonable opportunity for any interested person to be heard regarding the fourth extension of the current Public/Private Partnership Program Guidelines and Criteria for the period of January 1, 2023 through June 30, 2023 via a public hearing.
PRIOR ACTION/REVIEW (COUNCIL, BOARDS, COMMISSIONS)
On December 11, 2019, City Council authorized the adoption of the existing PPP Guidelines and Criteria for the Public/Private Partnership Program governing the provision of tax abatement and other economic incentives by Resolution No. 19-1959.
On December 9, 2020, City Council authorized the re-adoption of the PPP Guidelines for the period December 31, 2020 through June 30, 2021, by Resolution No. 20-1972.
On April 28, 2021, City Council authorized the re-adoption of the PPP Guidelines for the period July 1, 2021 through June 30, 2022, by Resolution No. 21-0696.
On June 8, 2022, City Council authorized the re-adoption of the PPP Guidelines for the period of July 1, 2022 through December 31, 2022, by Resolution No. 22-0901.
Information about this item will be provided to the Economic Development Committee on January 9, 2023.
FISCAL INFORMATION
No cost consideration to the City.