* The city will consider providing tax abatement for real and/or personal property as outlined in Tax Abatement Guidelines and Criteria passed and approved by the City Council on September 25, 2017.
*The City will consider the creation of a tax increment reinvestment zone to implement tax increment financing as requested by any eligible private company economic development initiative. On September 25, 2017, the City Council designated the City of Hondo municipal boundaries as a Tax Abatement Reinvestment Zone (TARZ) for economic development purposes.
*Fee waivers may reduce or eliminate any building permit, plans review, utility hookup fees associated with the development of the project.
*Infrastructure improvements include the provision of or participation in the extension of city infrastructure to the project site, including water, wastewater, drainage, road improvements, extensions or construction.
Texas Local Government Code 380 Agreements
*380 Agreements include the provision of grants, loans of city funds as permitted by the Texas Local Government Code, Section 380.001.
*This incentive provides a property tax exemption on some or an entire company’s inventory. To be eligible, the property must be assembled, stored, manufactured or fabricated locally for export out of the State within 730 days after the property was acquired or imported into the State.
Texas Enterprise Fund
*The Texas Enterprise Fund (TEF) is the largest “deal-closing” fund of its kind in the nation. The fund is a cash grant used as a financial incentive tool for projects that offer significant projected job creation and capital investment and where a single Texas site is competing with another viable out–of-state option. The city will work with any new venture to submit the TEF application to the State.
*Through the Texas Workforce Commission, in cooperation with industry and the local community college, this fund assists businesses by designing, financing and implementing customized job training programs. The City’s Economic Development Office is the starting point for any inquiries on the incentive package offered by Hondo. To help expedite the process, we ask that you provide some information on your company, its proposed project in the city, the type of product or service you provide, the projected investment, number of jobs, average salary per job created and the anticipated economic impact on the community. Any request for incentives must be submitted in writing with the information requested above and addressed to the Director Economic Development.
Foreign Trade Zone
*In the United States, foreign trade zones (FTZs) are the domestic equivalents of international “free trade zones,” intended to encourage healthy competition with foreign businesses. These zones directly help U.S. companies who either import products or components from foreign countries by reducing, deferring, or eliminating duties and by allowing for greater supply chain efficiency.