1992T15- AMENDING ORDINANCE NO. 92T2
ORDINANCE NO. 1'd__FJ:!J
AN ORDINANCE
BY THE CITY COUNCIL OF THE CITY OF
TEXAS, AMENDING ORDINANCE NO.
PROVIDING FOR TAX ABATEMENTS FOR
BUSINESSES IN THE CITY OF SCHERTZ.
SCHERTZ,
92-T-2,
EXISTING
WHEREAS. the
allows the abatement
investment, and
Texas ProDerty Tax Code, Section 312,
of ad valorem taxes as an incentive for
WHEREAS, the current ordinance makes no Drovision for
a specific incentive for existing businesses within the city
limits, and
WHEREAS, the retention and encouragement of existing
businesses plays an important role in the stability of the
commercial tax base, NOW THEREFORE,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SCHERTZ,
TEXAS:
THAT the City Council hereby amends Section 2f of
Ordinance No. 92-T-2 to read as follows:
"(41 Business Retention. If a business is
based within the city limits of the City of
Schertz, and meets the basic criteria for
tax abatement based on capital improvements,
an additional abatement of ten percent (10%)
may be approved. This abatement is additive
to any another abatement authorized within
this ordinance.:
Approved on first reading the
JL_ day of
~.
n .'Y:.
1992 .
PAS~~~ AND
ADOPTED this the
1992 ,
day of
ATTEST:
~~o/~
of Schertz
(SEAL OF CITY)