(a) 
The city council hereby establishes a city chapter 380 economic development program ("program") pursuant to chapter 380 of the Texas Local Government Code ("chapter 380"). Under the program, the city will consider granting economic incentives to encourage the development of businesses and commercial enterprises in the city.
(b) 
The city council hereby establishes a city chapter 380 economic development program ("program") pursuant to chapter 380 of the Texas Local Government Code ("chapter 380"). Under the program, the city will consider granting economic incentives to encourage the development of businesses and commercial enterprises in the city.
(1) 
The amount of tax revenues the city expects to be generated by the operation of the business or commercial enterprise;
(2) 
The extent of economic enhancement and stimulation that the city will derive from operation of the business or commercial enterprise or from the construction of public improvements that are instrumental in encouraging economic development within the city; and
(3) 
The number and quality of new employment opportunities which the city expects will result, directly and indirectly, from the operation of the business or commercial enterprise.
(Ordinance 23-10 adopted 1/17/2023)
(a) 
A business or commercial enterprise with an interest in participation in the program may submit an application to the city that shall include all information requested by the city staff, including a detailed plan describing:
(1) 
The applicant's proposed development and operations within the city and the economic benefits that the city will derive from operation of the business or commercial enterprise in the city;
(2) 
The proposed economic incentives requested from the city; and
(3) 
The role of the city's economic incentives in the success of the applicant's enterprise;
(b) 
The city council may waive any of these requirements at its discretion.
(Ordinance 23-10 adopted 1/17/2023)
As incentives to encourage the development of businesses and commercial enterprises, the city may undertake or provide one or more of the following:
(1) 
Purchasing of real property for the purpose of leasing it to the business or commercial enterprise upon terms mutually agreeable between the city and the business or commercial enterprise, subject to the requirements of chapter 380 and as more fully set forth in section 1.13.005 below;
(2) 
Personnel of the city to provide services in-kind; and
(3) 
Loans or grants to the developer or operator of a business or commercial enterprise in a lump sum or in installments.
(Ordinance 23-10 adopted 1/17/2023)
The procedures for implementation of an economic development grant will be developed based upon the requirements of the project at issue. In determining what, if any, incentives to provide, the city council will consider to what extent, if any, such incentives are necessary to attract the development of such business or commercial enterprise, what type of incentive would provide the city with the most benefit for the cost and meet the needs of the business or commercial enterprise, the economic benefit that the city will derive from operation of the business or commercial enterprise in the city, the city's budgetary limitations, and the amount of any participation by the business or commercial enterprise.
(Ordinance 23-10 adopted 1/17/2023)
The incentives provided will be reflected in an economic development performance agreement between the city and the applicant. The agreement will specify:
(1) 
The amount, character and type of the incentives to be paid or provided by the city, and the terms, limitations and qualifications thereon.
(2) 
Such terms and conditions as the city council determines are necessary to insure that the incentives will be used for the purposes intended, and will stimulate business and commercial activity in the city, consistent with the objectives and purposes of chapter 380.
(Ordinance 23-10 adopted 1/17/2023)
Any economic development program previously approved pursuant to Resolution No. 06-22 shall continue in accordance with the terms and conditions of any economic development agreement executed in accordance therewith.
(Ordinance 23-10 adopted 1/17/2023)