Res 2013-006/Adopting policy that establishes guidelines and criteria governing tax abatement agreements

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c. a brief description of the cost of the proposed improvements or expansion, the type of business operation proposed, the number of jobs created, the expected source of applicants for such jobs, the estimated annual payroll of all new jobs, the projected date of beginning construction and operation, and the nature of the tax abatement requested; d. a time schedule of the planned improvements; e. a summary description of the new facility or expansion; f. a chart showing the improvements and jobs created for each year of the abatement; and g. any other information about the proposed project that may be required by the City. 2. The application will be reviewed for completeness and accuracy and comments will be received from appropriate departments. Once this information is compiled, the application, review comments and staff recommendation will be forwarded to the City's Economic Development Board ( "EDSM ") which will review and make a recommendation to the City Council for approval or denial of the application. The City Council and other taxing entities that may be involved in offering a tax abatement will then consider the application. After review by the City Council and other taxing entities, additional information may be requested of the applicant. 3. All actions concerning and any consideration of the application shall be subject to the requirements of Chapter 312 of the Texas Tax Code, known as the Property Redevelopment and Tax Abatement Act, and all other applicable laws and ordinances. 4. Applications will be denied if the City Ends that: a. the application was filed after the decision to commence the project in the City was formally announced to the public; or b. construction, alteration or installation of improvements related to the project began on or before the date for City Council consideration of the tax abatement application.