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City of Sherman to consider tax abatements in public meeting
By City of Sherman
Oct 18, 2021
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Sherman, Texas -- The four-phase tax abatement agreement will be considered during the City Council meeting scheduled to start at 5:00 p.m. on October 18, 2021, at the City Council Chambers, 220 W. Mulberry Street, Sherman, Texas 75090. 

CITY OF SHERMAN, TEXAS

PUBLIC NOTICE OF A MEETING AT WHICH THE SHERMAN CITY COUNCIL WILL CONSIDER THE APPROVAL OF A TAX ABATEMENT AGREEMENT WITH A PROPERTY OWNER PHASE 1

 

Pursuant to the Section 312.207 of the Texas Tax Code, notice is hereby given that the City Council of the City of Sherman, Texas, will consider the approval of a tax abatement agreement with a property owner at a regularly scheduled meeting of the City Council.

 

Time and Place of the Meeting. The tax abatement agreement will be considered during the City Council meeting scheduled to start at 5:00 p.m. on October 18, 2021, at the City Council Chambers, 220 W. Mulberry Street, Sherman, Texas 75090.

 

Tax Abatement Agreement Information Required by Texas Tax Code Section 312.207. Pursuant to Section 312.207 of the Texas Tax Code, the following information is provided regarding the proposed tax abatement agreement for Phase 1 of the Texas Instruments project:

 

1.      Name of property owner and applicant for tax abatement agreement: Texas Instruments Incorporated

2.      Name and location of reinvestment zone in which the property subject to the agreement is located: City of Sherman Industrial Reinvestment Zone No. 11, comprised of approximately 560 acres at 6412 S. U.S. Highway 75 in Sherman, Texas, as depicted in Exhibit A, attached hereto.

3.      General description of the nature of the improvements included in the agreement:

(a) Construction by property owner/applicant of a manufacturing building containing approximately 1,036,000 square feet, two operations support buildings containing approximately 240,000 and 100,000 square feet, respectively, and other ancillary facilities such as required parking and landscaping, to provide for the continuous operation of a major semiconductor wafer manufacturing facility producing semiconductor wafers for use in industrial, automotive, communications and personal electronics products.

(b) Installation of business personal property on the property by the property owner/applicant.

4.      Estimated cost of the improvements:

Six billion five hundred million dollars ($6,500,000,000.00).

The tax abatement agreement described in this notice also will appear on the agenda that is posted in accordance with the Texas Open Meetings Act for the scheduled October 18, 2021, meeting of the Sherman City Council.  This notice is given in the manner required by the Texas Open Meetings Act at least 30 days before the scheduled time of the meeting described in this notice.

 

Map of Reinvestment Zone

Exhibit A: Depiction of Boundaries of Proposed City of Sherman Industrial Reinvestment Zone No. 11

CITY OF SHERMAN, TEXAS

PUBLIC NOTICE OF A MEETING AT WHICH THE SHERMAN CITY COUNCIL WILL CONSIDER THE APPROVAL OF A TAX ABATEMENT AGREEMENT WITH A PROPERTY OWNER PHASE 2

 

Pursuant to the Section 312.207 of the Texas Tax Code, notice is hereby given that the City Council of the City of Sherman, Texas, will consider the approval of a tax abatement agreement with a property owner at a regularly scheduled meeting of the City Council.

 

Time and Place of the Meeting. The tax abatement agreement will be considered during the City Council meeting scheduled to start at 5:00 p.m. on October 18, 2021, at the City Council Chambers, 220 W. Mulberry Street, Sherman, Texas 75090.

 

Tax Abatement Agreement Information Required by Texas Tax Code Section 312.207. Pursuant to Section 312.207 of the Texas Tax Code, the following information is provided regarding the proposed tax abatement agreement for Phase 2 of the Texas Instruments project:

 

1.      Name of property owner and applicant for tax abatement agreement: Texas Instruments Incorporated

2.      Name and location of reinvestment zone in which the property subject to the agreement is located: City of Sherman Industrial Reinvestment Zone No. 11, comprised of approximately 560 acres at 6412 S. U.S. Highway 75 in Sherman, Texas, as depicted in Exhibit A, attached hereto.

3.      General description of the nature of the improvements included in the agreement:

(a) Construction by property owner/applicant of a manufacturing building containing approximately 1,036,000 square feet, an operations support building containing approximately 55,000 square feet, and other ancillary facilities such as required parking and landscaping, to provide for the continuous operation of a major semiconductor wafer manufacturing facility producing semiconductor wafers for use in industrial, automotive, communications and personal electronics products.

(b) Installation of business personal property on the property by the property owner/applicant.

4.      Estimated cost of the improvements:

Seven billion dollars ($7,000,000,000.00).

The tax abatement agreement described in this notice also will appear on the agenda that is posted in accordance with the Texas Open Meetings Act for the scheduled October 18, 2021, meeting of the Sherman City Council.  This notice is given in the manner required by the Texas Open Meetings Act at least 30 days before the scheduled time of the meeting described in this notice.

 

Map of Reinvestment Zone

 

Exhibit A: Depiction of Boundaries of Proposed City of Sherman Industrial Reinvestment Zone No. 11

 

CITY OF SHERMAN, TEXAS

PUBLIC NOTICE OF A MEETING AT WHICH THE SHERMAN CITY COUNCIL WILL CONSIDER THE APPROVAL OF A TAX ABATEMENT AGREEMENT WITH A PROPERTY OWNER PHASE 3

 

Pursuant to the Section 312.207 of the Texas Tax Code, notice is hereby given that the City Council of the City of Sherman, Texas, will consider the approval of a tax abatement agreement with a property owner at a regularly scheduled meeting of the City Council.

 

Time and Place of the Meeting. The tax abatement agreement will be considered during the City Council meeting scheduled to start at 5:00 p.m. on October 18, 2021, at the City Council Chambers, 220 W. Mulberry Street, Sherman, Texas 75090.

 

Tax Abatement Agreement Information Required by Texas Tax Code Section 312.207. Pursuant to Section 312.207 of the Texas Tax Code, the following information is provided regarding the proposed tax abatement agreement for Phase 3 of the Texas Instruments project:

 

1.      Name of property owner and applicant for tax abatement agreement: Texas Instruments Incorporated

2.      Name and location of reinvestment zone in which the property subject to the agreement is located: City of Sherman Industrial Reinvestment Zone No. 11, comprised of approximately 560 acres at 6412 S. U.S. Highway 75 in Sherman, Texas, as depicted in Exhibit A, attached hereto.

3.      General description of the nature of the improvements included in the agreement:

(a) Construction by property owner/applicant of a manufacturing building containing approximately 1,036,000 square feet, two operations support buildings containing approximately 120,000 and 55,000 square feet, respectively, and other ancillary facilities such as required parking and landscaping, to provide for the continuous operation of a major semiconductor wafer manufacturing facility producing semiconductor wafers for use in industrial, automotive, communications and personal electronics products.

(b) Installation of business personal property on the property by the property owner/applicant.

4.      Estimated cost of the improvements:

Seven billion six hundred million dollars ($7,600,000,000.00).

The tax abatement agreement described in this notice also will appear on the agenda that is posted in accordance with the Texas Open Meetings Act for the scheduled October 18, 2021, meeting of the Sherman City Council.  This notice is given in the manner required by the Texas Open Meetings Act at least 30 days before the scheduled time of the meeting described in this notice.

 

Map of Reinvestment Zone

 

Exhibit A:Depiction of Boundaries of Proposed City of Sherman Industrial Reinvestment Zone No. 11

 

 

CITY OF SHERMAN, TEXAS

PUBLIC NOTICE OF A MEETING AT WHICH THE SHERMAN CITY COUNCIL WILL CONSIDER THE APPROVAL OF A TAX ABATEMENT AGREEMENT WITH A PROPERTY OWNER PHASE 4

 

Pursuant to the Section 312.207 of the Texas Tax Code, notice is hereby given that the City Council of the City of Sherman, Texas, will consider the approval of a tax abatement agreement with a property owner at a regularly scheduled meeting of the City Council.

 

Time and Place of the Meeting. The tax abatement agreement will be considered during the City Council meeting scheduled to start at 5:00 p.m. on October 18, 2021, at the City Council Chambers, 220 W. Mulberry Street, Sherman, Texas 75090.

 

Tax Abatement Agreement Information Required by Texas Tax Code Section 312.207. Pursuant to Section 312.207 of the Texas Tax Code, the following information is provided regarding the proposed tax abatement agreement for Phase 4 of the Texas Instruments project:

 

1.      Name of property owner and applicant for tax abatement agreement: Texas Instruments Incorporated

2.      Name and location of reinvestment zone in which the property subject to the agreement is located: City of Sherman Industrial Reinvestment Zone No. 11, comprised of approximately 560 acres at 6412 S. U.S. Highway 75 in Sherman, Texas, as depicted in Exhibit A, attached hereto.

3.      General description of the nature of the improvements included in the agreement:

(a) Construction by property owner/applicant of a manufacturing building containing approximately 1,036,000 square feet, an operations support building containing approximately 55,000 square feet, and other ancillary facilities such as required parking and landscaping, to provide for the continuous operation of a major semiconductor wafer manufacturing facility producing semiconductor wafers for use in industrial, automotive, communications and personal electronics products.

(b) Installation of business personal property on the property by the property owner/applicant.

4.      Estimated cost of the improvements:

Eight billion three hundred million dollars ($8,300,000,000.00).

The tax abatement agreement described in this notice also will appear on the agenda that is posted in accordance with the Texas Open Meetings Act for the scheduled October 18, 2021, meeting of the Sherman City Council.  This notice is given in the manner required by the Texas Open Meetings Act at least 30 days before the scheduled time of the meeting described in this notice.

 

Map of Reinvestment Zone

 

Exhibit A: Depiction of Boundaries of Proposed City of Sherman Industrial Reinvestment Zone No. 11