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1997T22-TAX ABATEMENT WITH INTERPLASTIC CORPORATION (2)ORDINANCE NO. M. BY THE CITY COUNCIL OF THE CITY OF SCHERTZ, TEXAS, APPROVING A TAX ABATEMENT AND A TAX ABATEMENT AGREEMENT FOR AND WITH INTERPLASTIC CORPOPORATION. A PROPERTY OWNER IN THE CITY OF SCHERTZ. WHEREAS, Section 312 of the Texas Property Tax Code allows municipalities to abate ad valorem taxes under specific Guidelines and Criteria, and the City of Schertz has adopted specific Guidelines and Criteria under these provisions; and WHEREAS, the City Council finds that the application for abatement of ad valorem taxes by Interplastic Corportation meets those Guidelines and Criteria, and further finds the terms of the tax abatement agreement listed at Exhibit 1 are acceptable; and WHEREAS, the property owned by Interplastic Corporation is described as Lot 20, Block 5, (1.488 acres) in Tri- County Business and Industrial Park Unit 3, as recorded on pages 7a &7b, plat records of Guadalupe County, and is within a Texas Enterprise Zone as approved by the Texas Department of Commerce 11 April, 1995. WHEREAS, the terms of the tax abatement agreement will cause no substantial long term adverse effect on the provision of the City's services or tax base, and the planned use of the property will not constitute a hazard to public safety, health or morals; NOW THEREFORE BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SCHERTZ, TEXAS: THAT, the request for abatement of ad valorem taxes by the Interplastic Corporation is approved. The approved rate is 35.66% for a five (5) year period beginning 1 January, 1998. Taxes shall be abated on capital improvements only. THAT, the City Manager is authorized to enter into an agreement, shown as Exhibit 1, with the Interplastic Corporation. p Approved on first reading the VI-14 day of August, 1997- PATED, APPROVED AND ADOPTED thi the ; -P day of _pLCA, ��,e , 1997. , %-1Vy Wi o..uca ...., ATTEST: g'e7el� --,a City Secretary, City of Schertz (SEAL OF CITY) Mark Marquez, Dfrectrir June 18, 1997 Page Two 4. Sales Tax. Sales taxes are collected on the sale by Interplastic of resin and related products. Interplastic will collect approximately $25,000 of sales taxes from this facility each year. 5. Tax ID Number. The tax identification number of the property is 1G- 3325- 3005 -02 -000. 6. Site Plan. We are in the process of obtaining a site plan for the lot (including the building footprint, landscaping, security lighting, fencing, etc.). A copy of our site plan will be sent as soon as it is available. In addition to the "standard abatement" just described, Interplastic Corporation also requests OPTIONAL ABATEMENT ADDITIVES pursuant to § 7 of the Tax Abatement Guidelines. This request is based on the "jobs" and `other revenues" described above. On the other hand, Interplastic is NOT requesting any SPECIAL ABATEMENTS pursuant to § 8 of the Tax Abatement Guidelines. After reviewing the applicable requirements, Interplastic believes that it does not meet the "foreign trade zone" or "enterprise zone" criteria. Based on the above, it is my understanding that Interplastic qualifies for a tax abatement of 48.16% of the taxes on our capital improvements. The term of the abatement would be for five (5) years. Our abatement percentage is calculated as follows: Capital Improvements 21.66% Employment 14.00% Other Revenue 12.50% TOTAL 48.16% Interplastic looks forward to becoming a member of the business community in the City of Schertz. Thank you very much for helping us with this tax abatement process. MJB /iml cc: James D. Wallenfelsz Robert A. DeRoma Ivan M. Levy Word.ABATEMENT.Iet 07/11/97 16:40 ''a61: 4S] 9836, INTERPLASTIC =ar INTERPLASTIC CORPORATION Interpiastic Distribution Group Division DESCRIPTION OF BUSINESS le, 002/0a_ Interplastic Distribution Group ("IDG ") is the primary distributor of the resins manufactured in the Commercial Resins and Silmar Resins Division of Interplastic Corporation. Resins are widely used in the manufacture of products such as sinks and shower stalls, synthetic marble counter tops, bowling balls, and boat hulls. IDG also distributes other non -resin products manufactured by over 60 third -party suppliers which are used in the reinforced fiberglass industry. IDG sales professionals represent such companies as PPG Industries (fiberglass products), Akzo Nobel Chemicals (catalysts), Baltek Corporation (coring material), Johnston Composite Reinforcements (knitted fabrics), and many more. IDG operates ten sales and warehouse facilities throughout the United States. 1400 SCHERTZ PARKWAY P. O. DRAWER I SCHERTZ, TEXAS 78154 -0890 AC (210) 658 -3510 KERRY R. SWEATT FAX (210) 659 -3204 CITY MANAGER 7 August, 1997 Honorable James E. Sagebiel Guadalupe County Judge Guadalupe County Courthouse 307 West Court, Suite 200 Seguin, Texas 78155 Judge Sagebiel This letter is to advise you that an application for tax abatement has been received from Interplastic Corporation. The application meets the basic criteria of our ordinance on Tax Abatement. I have enclosed a copy of their application and our evaluation for your review. The Schertz Economic Development Commission met to review this application on 19 July, 1997. The Commission unanimously recommended approval to City Council, a tax abatement on Capital Improvement ad valorem taxes (only) of 35.66% for a period of five (5) years. The basis of the abatement is $600,000.00 of capital improvements with a payroll of approximately $350,000.00 for seventeen (7) employees. Interplastic Corporation has purchased property in the Tri- County Business and Industrial Park located on IH -35 in the City of Schertz. Please consider this letter as notification under the provisions of Section 312.2041 of the Texas Property Tax Code. We are in the process of perfecting the Tax Abatement Agreement with Interplastic Corporation. The Schertz City Council will consider action on the tax abatement on 13 August, 1997. The meeting will be at 7 pm in the Schertz Municipal Complex. You are invited to attend should your schedule permit. You will be advised by phone if the time or date are changed. page 2 Judge Sagebiel Mark Marquez and I are available at your convenience to discuss this important matter, or provide assistance as required. Please let us know of your plans or intentions and if we may provide other information. It is our hope you will support our economic development efforts by granting a similar abatement. Thank you. Sincerely Ke . Sweatt City Manager KRS /mm Enclosures: Application from Interplastic Corporation. Evaluation of Tax Abatement Request By Interplastics Inc. On 23 June, 1997, a tax abatement request by Interplastics Corporation was received. The abatement request was accepted on 11 July, 1997, after receipt of additional documentation and discussion of Sales Tax Revenues. Interplastics had requested a 12.58 abatement credit based on Sales Tax of $25,000 being collected. While our program gives credit for Sales Tax, it is based on revenues received by the City as opposed to what is collected. In this case city revenues would be $250.00 or 18 of $25,000.00. This has resulted in reducing the abatement request from 48.168 to 35.668. Interplastics Corporation is a wholesale distributor of all types of plastic resins. Resins are used in the manufacture of products such as sinks and shower stalls, synthetic marble counter tops, bowling balls, and boat hulls. Interplastics Corporation plans to build a 15,000 sq ft building (3000 office space) in the Tri- County Business Park at an estimated value of $600,000. Equipment and tools, appraised as Personal Property for tax purposes is estimated at $100,000.00. The basis of the request is $600,000.00 of capital improvements to property in the City of Schertz and job creation in Schertz with a payroll value of $350,000.00. The company expects to employ approximately 7 employees. The proposed site is a 1.488 tract on Corridor Parkway in Tri- County. Current value of the property is estimated at $65,000.00. The property is located in Guadalupe County. An evaluation of this abatement request based on our guidelines and criteria is as follows: Abatement Percentages Capital Improvements of $600,000.00 First $75,000 10.08 Remaining $525,000 @ 18 per $45,000 11.668 Payroll $350,000 @ 18 per $25,000 14.008 Total Percentage Authorized 35.668 Recommend Approval of a 5 year abatement of ad valorem taxes on Capital Improvements for Interplastics Corporation at a rate of 35.668 for a period of 5 years, beginning 1 January, 1998. Dollar Values of Interplastics Project Current Values Land Improvements Personal Property Total Tax Rate Tax Revenue Land Improvements Personal Property Total Ad Valorem Additional Revenues Payroll Multiplier @ 1% Sales Tax Total Annual Revenues to the City Minus Abatement of Capital Improvements at 35.66 percent. Difference From Current Values Total Annual Cost of Abatement $65,000.00 $0.00 $0.00 $65,000.00 $0.3719 $241.74 $0.00 $0.00 $241.74 $0.00 $0.00 $0.00 $241.74 Total Revenues to the City over the 5 Year Term Minus the Cost of Abatement over the 5 Year Term Minus Current Revenues over the 5 Year Term Total Net Revenues to the City over the 5 Year Term Projected Values $65,000.00 $600,000.00 $100,000.00 $765,000.00 $0.3719 $241.74 $2,231.40 $371.90 $2,845.04 $350,000.00 $3,500.00 $250.00 $6595.03 $795.72 $5799.32 $795.72 $32975.18 $3978.59 $1208.68 $27787.91 Total Net Revenues cover the cost of the abatement by a ratio of: 6.98 to 1 Ad Valorem Revenues cover the cost of the abatement by a ratio of: 3.58 to 1 Annual Cost Per Job $113.67 1400 SCHERTZ PARKWAY P. O. DRAWER 1 SCHERTZ, TEXAS 78154 -0890 AC (210) 658 -3510 FAX (210) 659 -3204 7 August, 1997 Honorable James E. Sagebiel Guadalupe County Judge Guadalupe County Courthouse 307 West Court, Suite 200 Seguin, Texas 78155 Judge Sagebiel KERRY R. SWEATT CITY MANAGER This letter is to advise you that an application for tax abatement has been received from Interplastic Corporation. The application meets the basic criteria of our ordinance on Tax Abatement. I have enclosed a copy of their application and our evaluation for your review. The Schertz Economic Development application on 19 July, 1997. recommended approval to City Capital Improvement ad valorem period of five (5) years. Commission met to review this The Commission unanimously Council, a tax abatement on taxes (only) of 35.66% for a The basis of the abatement is $600,000.00 of capital improvements with a payroll of approximately $350,000.00 for seventeen (7) employees. Interplastic Corporation has purchased property in the Tri- County Business and Industrial Park located on IH -35 in the City of Schertz. Please consider this letter as notification under the provisions of Section 312.2041 of the Texas Property Tax Code. We are in the process of perfecting the Tax Abatement Agreement with Interplastic Corporation. The Schertz City Council will consider action on the tax abatement on 13 August, 1997. The meeting will be at 7 pm in the Schertz Municipal Complex. You are invited to attend should your schedule permit. You will be advised by phone if the time or date are changed. page z Judge Sagebiel Mark Marquez and I are available at your convenience to discuss this important matter, or provide assistance as required. Please let us know of your plans or intentions and if we may provide other information. It is our hope you will support our economic development efforts by granting a similar abatement. Thank you. Sincerely Ker Sweatt City Manager KRS /mm Enclosures: Application from Interplastic Corporation. Evaluation of Tax Abatement Request By Interplastics Inc. On 23 June, 1997, a tax abatement request by Interplastics Corporation was received. The abatement request was accepted on 11 July, 1997, after receipt of additional documentation and discussion of Sales Tax Revenues. Interplastics had requested a 12.5% abatement credit based on Sales Tax of $25,000 being collected. While our program gives credit for Sales Tax, it is based on revenues received by the City as opposed to what is collected. In this case city revenues would be $250.00 or 1% of $25,000.00. This has resulted in reducing the abatement request from 48.16% to 35.66%. Interplastics Corporation is a wholesale distributor of all types of plastic resins. Resins are used in the manufacture of products such as sinks and shower stalls, synthetic marble counter tops, bowling balls, and boat hulls. Interplastics Corporation plans to build a 15,000 sq ft building (3000 office space) in the Tri- County Business Park at an estimated value of $600,000. Equipment and tools, appraised as Personal Property for tax purposes is estimated at $100,000.00. The basis of the request is $600,000.00 of capital improvements to property in the City of Schertz and job creation in Schertz with a payroll value of $350,000.00. The company expects to employ approximately 7 employees. The proposed site is a 1.488 tract on Corridor Parkway in Tri- County. Current value of the property is estimated at $65,000.00. The property is located in Guadalupe County. An evaluation of this abatement request based on our guidelines and criteria is as follows: Abatement Percentages Capital Improvements of $600,000.00 First $75,000 10.0% Remaining $525,000 @ 1% per $45,000 11.66% Payroll $350,000 @ 1% per $25,000 14.00% Total Percentage Authorized 35.66% Recommend Approval of a 5 year abatement of ad valorem taxes on Capital Improvements for Interplastics Corporation at a rate of 35.66% for a period of 5 years, beginning 1 January, 1998. Dollar Values of Interplastics Project Current Values Land Improvements Personal Property Total Tax Rate Tax Revenue Land Improvements Personal Property Total Ad Valorem Additional Revenues Payroll Multiplier @ 18 Sales Tax Total Annual Revenues to the City Minus Abatement of Capital Improvements at 35.66 percent. Difference From Current Values Total Annual Cost of Abatement $65,000.00 $0.00 $0.00 $65,000.00 $0.3719 $241.74 $0.00 $0.00 $241.74 $0.00 $0.00 $0.00 $241.74 Total Revenues to the City over the 5 Year Term Minus the Cost of Abatement over the 5 Year Term Minus Current Revenues over the 5 Year Term Total Net Revenues to the City over the 5 Year Term Projected Values $65,000.00 $600,000.00 $100,000.00 $765,000.00 $0.3719 $241.74 $2,231.40 $371.90 $2,845.04 $350,000.00 $3,500.00 $250.00 $6595.03 $795.72 $5799.32 $795.72 $32975.18 $3978.59 $1208.68 $27787.91 Total Net Revenues cover the cost of the abatement by a ratio of: 6.98 to 1 Ad Valorem Revenues cover the cost of the abatement by a ratio of: 3.58 to 1 Annual Cost Per Job $113.67 7 August, 1997 To: Mayor and City Council From: Kerry R. Sweatt, City Manager Subject: Tax Abatement, Interplastic Corporation On 19 July, 1997, the City of Schertz Economic Development Commission met to consider a request for tax abatement by Interplastic Corporation. The request met all the requirements of our Guidelines and Criteria. Interplastic Corporation is a distributor of resins used in the plastics industry. These resins are used in the production of a wide variety of products from sinks to bowling balls. The company is currently in leased space in San Antonio. The commission, after reviewing the request, unanimously recommended approval of a 35.66% tax abatement on capital improvements for a five year period. Please note the Interplastic Corporation package does not include a reinvestment zone. The reason is they will be locating in the Tri- County Industrial Park, which is a part of the State Enterprise Zone. The creation of a State Enterprise Zone automatically creates a Reinvestment Zone. Attached to this memo is, the Interplastic application, the draft ordinance approving the tax abatement, the advisement to Guadalupe County Commissioners Court, and an evaluation by staff. We are in the process of perfecting the abatement agreement. Mark J. Brost Vice President Finance & Administration Mark Marquez, Director Management Services 1400 Schertz Parkway P.O. Drawer I Schertz, TX 78154 Dear Mr. Marquez: 4ARD ,:112; 1., 6861 June 18, 1997 VIA FAX and MAIL (1 -210- 659 -3204) RE: Request for Tax Abatement (Our File No. 9076.3) The owner of Interplastic Corporation ( "Interplastic "), James D. Wallenfelsz, is now in the process of buying land in the Tri -County Business Park in Schertz, Texas. We will also be constructing a warehouse and office facility on those premises for our distribution business. Interplastic hereby requests TAX ABATEMENT for this project from the City of Schertz. Pursuant to § 10 of the City of Schertz Guidelines and Criteria for Tax Abatement and Reinvestment Zones (the `Tax Abatement Guidelines "). The following information is submitted in support of our request: 1. General Description. The land will consist of 1.488 acres of land legally described as `Lot 20, Block 5, Tri - County Business and Industrial Park Three" in Guadalupe County, Texas. The following building will be constructed: • The building will be a 15,000 square foot facility consisting of approximately 12,000 square feet of warehouse and 3,000 square feet for offices. • The building will be of concrete tip -up or masonry block construction. It will have a pre - engineered steel roof, and be fully sprinklered. 2. Estimated Values. The purchase price of the land is fixed by our Purchase Agreement. The other values are our estimates. Those values are as follows: • Capital Improvements: $600,000 • Personal Property: $100,000 • Land Purchase Price: $65,000 • Inventory Value: $300,000 3. Jobs and Payroll. We anticipate creating 7 new jobs in the City of Schertz (2 sales people, I customer service, I warehouse worker, 1 administration manager, and 2 drivers). The annual cost to Interplastic for those 7 employees will be approximately $350,000. Mark Marquez, Director June 18, 1997 Page Two 4. Sales Tax. Sales taxes are collected on the sale by Interplastic of resin and related products. Interplastic will collect approximately $25,000 of sales taxes from this facility each year. 5. Tax ID Number. The tax identification number of the property is 1 G- 3325- 3005 -02 -000. 6. Site Plan. We are in the process of obtaining a site plan for the lot (including the building footprint, landscaping, security lighting, fencing, etc.). A copy of our site plan will be sent as soon as it is available. In addition to the "standard abatement" just described, Interplastic Corporation also requests OPTIONAL ABATEMENT ADDITIVES pursuant to § 7 of the Tax Abatement Guidelines. This request is based on the "jobs" and "other revenues" described above. On the other hand, Interplastic is NOT requesting any SPECIAL ABATEMENTS pursuant to § 8 of the Tax Abatement Guidelines. After reviewing the applicable requirements, Interplastic believes that it does not meet the "foreign trade zone" or "enterprise zone" criteria. Based on the above, it is my understanding that Interplastic qualifies for a tax abatement of 48.16% of the taxes on our capital improvements. The term of the abatement would be for five (5) years. Our abatement percentage is calculated as follows: Capital Improvements 21.66% Employment 14.00% Other Revenue 12.50% TOTAL 48.16% Interplastic looks forward to becoming a member of the business community in the City of Schertz. Thank you very much for helping us with this tax abatement process. MJB /iml cc: James D. Wallenfelsz Robert A. DeRoma Ivan M. Levy Word.ABATEMENT.tet 07 /11/97 16:90 $612 981 9876 INTERPLASTIC is «nivx INTERPLASTIC CORPORATION Interplastic Distribution Group Division DESCRIPTION OF BUSINESS U 002/002 Interplastic Distribution Group ( "IDG ") is the primary distributor of the resins manufactured in the Commercial Resins and Silmar Resins Division of Interplastic Corporation. Resins are widely used in the manufacture of products such as sinks and shower stalls, synthetic marble counter tops, bowling balls, and boat hulls. IDG also distributes other non -resin products manufactured by over 60 third -party suppliers which are used in the reinforced fiberglass industry. IDG sales professionals represent such companies as PPG Industries (fiberglass products), Akzo Nobel Chemicals (catalysts), Baltek Corporation (coring material), Johnston Composite Reinforcements (knitted fabrics), and many more. IDG operates ten sales and warehouse facilities throughout the United States. 7 August, 1997 To: Mayor and City Council From: Kerry R. Sweatt, City Manager Subject: Tax Abatement, Interplastic Corporation On 19 July, 1997, the City of Schertz Economic Development Commission met to consider a request for tax abatement by Interplastic Corporation. The request met all the requirements of our Guidelines and Criteria. Interplastic Corporation is a distributor of resins used in the plastics industry. These resins are used in the production of a wide variety of products from sinks to bowling balls. The company is currently in leased space in San Antonio. The commission, after reviewing the request, unanimously recommended approval of a 35.66% tax abatement on capital Improvements for a five year period. Please note the Interplastic Corporation package does not include a reinvestment zone. The reason is they will be locating in the Tri- County Industrial Park, which is a part of the State Enterprise Zone. The creation of a State Enterprise Zone automatically creates a Reinvestment Zone. Attached to this memo is, the Interplastic application, the draft ordinance approving the tax abatement, the advisement to Guadalupe County Commissioners Court, and an evaluation by staff. We are in the process of perfecting the abatement agreement. INTERPLASTIC CORPORATION Mark J. Brost Vice President Finance & Administration Mark Marquez, Director Management Services 1400 Schertz Parkway P.O. Drawer I Schein, TX 78154 Dear Mr. Marquez: c C- RP&M-7 ­j 12e5 >.OL16NS BOULEVARD B; V,11 PAUL. IAN 5511.0-5145 ,6121 4816860 - FAX J612i 481 -9834 June 18, 1997 VIA FAX and MAIL (1- 210- 659 -3204) RE: Request for Tax Abatement (Our File No. 9076.3) The owner of Interplastic Corporation ( "Interplastic "), James D. Wallenfelsz, is now in the process of buying land m the Tn- County Business Park m Schertz, Texas. We will also be constructing a warehouse and office facility on those premises for our dwrlbudon business. Interplastic hereby requests TAX ABATEMENT for this project from the City of Schein. Pursuant to § 10 of the C5ry of Scheriz Guidelines and Cr*eria for Tax Abatement and Reimestmens Zones (the "Tax Abatement Guidelines "). The following information is submitted in support of our request 1. General Description. The land will consist of 1.488 acres of land legally described as "Lot 20, Block 5, Tri -County Business and Industrial Park Three" in Guadalupe County, Texas. The following building will be constructed: • The building will be a 15,000 square foot facility consisting of approximately 12,000 square feet of warehouse and 3,000 square feet for offices. • The building will be of concrete tip-up or masonry block construction. It will have a pre-engineered steel roof, and be fully sprinklered. 2. Estimated Values. The purchase price of the land is fixed by our Purchase Agreement. The other values are our estimates. Those values are as follows: • CapitalInprovements: $600,000 • Personal Property: $100,000 • Land Purchase Price: $65,000 • Inventory Value: $300,000 3. Jobs and Payroll. We anticipate creating 7 new jobs in the City of Schertz (2 sales people, I customer service, 1 warehouse worker, 1 administration manager, and 2 drivers). The annual cost to Interplastic for those 7 employees will be approximately $350,000. THE STATE OF TEXAS, County of Guadalupe Y J, P-Iue Before me, the undersigned authority, on this date personally appeared L. A. REYNOLDS known to me, who, being by me duly sworn, on his oath deposes and says that he is the Advertising Director of The Seguin Gazette- Enterprise, a newspaper published in said county; that a copy of the within and fore- going AD was published in said newspaper 2 times before the return day named therein, ORDINANCE NO. 97 -T-22 O INANCE NO. 97 -T -22 BY THE CITY COUNCIL g THE CITY COUNCIL such publications being on the following dates: OF THE CITY OF O THE CITY OF SCHERTZ,. TEXAS, AP- SC ERTZ, TEXAS, AP- PROVING ATAX ABATE- pR ING A TAX ABATE- MENT AND A TAX, ME AND A TAX SEPTEMBER 18, 1997 ABATEMENT AGREE- ABATEMENTS AGREE- MENT FO AND WITH IN- MENT FO AND WITH IN- TERPLASTIC CORPORA- TERPLASTIC CORPORA- TION, A PROPERTY SEPTEMBER 19, 1997 OWNER IN THE CITY OF TION, A PROPERTY OWNER IN THE CITY OF SCHERTZ. SCHERTZ. PASSED,.. APPROVED ;,, PASSED, APPROVED ANDAD PTED the 2nd IAND ADOPTED the 2nd day of S eMbW 1997. day of September 1997. Norma A Ouse, City Sec- Nora Afthome, City Sec- retary. retary. and a newspaper copy of which is hereto attached. Swam to and subscribed before me, this 24 day of SEPTEMBER A.D., 19 97 q4 SARAH MEDRANO 7 NrMrt'ft*'6WQITW S, My Cammwen FrytM X01 , Notary Public, Guadalupe County, Texas PUBLISHER'S AFFIDAVIT THE STATE OF TEXAS, rt County of Guadalupe dot Before me, the undersigned authority, on this date personally appeared L. A. RElNOLDS known to me, who, being by me duly sworn, on his oath deposes and says that he is the Advertising Director of The Seguin Gazette - Enterprise, a newspaper published in said county; that a copy of the within and fore- going AD was published in said newspaper_ 22 times before the return day_named therein, and a newspaper copy of which is hereto attached. Sworn to and subscribed before me, this 28 day of AUGUST A.D., 19 97 SARAH MEDRANO \V� NMY Public. S1ffi of iex 'g, ✓� s My CanMs F-4M07 -22 -2101 sr _ Notary Public, Guadalupe County, Texas AN ORDINANCE AN OPDINANCE BY THE CITY COUNCIL B" THE CITY COUNCIL such publications being on the following dates: OF THE CITY OF OF THE CITY OF SCHERTZ, TEXAS, AP- SCHERTZ, TEXAS, AP- PROVING A TAX ABATE- PROVING A TAX ABATE- MENT AND A TAX, , MENT AND, A TAX AUGUST 26, 1997 ABATEMENT AGREE- t ABATEMENT AGREE- MENT FOR AND WITH INTERPLASTIC CORPO- MENT FOR AND WITH RATION, A PROPERTY INTERPLASTIC CORPO- AUGUST 28, 1997 OWNER IN THE CITY OF A PROPERTY ER OWNER THE CITY Approved on first reading the I OF SCHERTZ. 19th day of August, 1997. Approved on first reading the Norma Althouse, 19th day of August, 1997. City Secretary Norma Althouse, City Secretary and a newspaper copy of which is hereto attached. Sworn to and subscribed before me, this 28 day of AUGUST A.D., 19 97 SARAH MEDRANO \V� NMY Public. S1ffi of iex 'g, ✓� s My CanMs F-4M07 -22 -2101 sr _ Notary Public, Guadalupe County, Texas