DEPARTMENT: Economic Development
DEPARTMENT HEAD: Rene Dominguez
COUNCIL DISTRICTS IMPACTED: 3
SUBJECT:
City Council is considering approval of a Tax Abatement Agreement between the City and HOLT Texas, LTD Tax Abatement Agreement, the establishment of the HOLT CAT Reinvestment Zone, SAWS Impact and City fee waivers, a new Texas Enterprise Zone participation Ordinance, and nomination of HOLT Texas, LTD as a Texas Enterprise Project
SUMMARY:
Staff is requesting a Public Hearing and City Council action on the following items related to the HOLT Texas, LTD (HOLT) project: (A) a public hearing designating the HOLT CAT Reinvestment Zone located at 3302 South WW White Road in Council District 3; (B) an Ordinance approving a 10-year, 100% Tax Abatement Agreement based on a capital investment of at least $20.2 million in new real and personal property improvements, the creation of 45 new full-time jobs, and the retention of 150 existing full-time jobs; (C) approval of SAWS Impact and City fee waivers; (D) approving a new Ordinance for participation in the State Enterprise Zone (EZ) Program; and (E) a Resolution nominating HOLT for designation as a Texas Enterprise Project;
BACKGROUND INFORMATION:
HOLT is the largest Caterpillar dealership in the United States with operations in 118 counties in Texas. Established in 1933, HOLT sells, services and rents Caterpillar equipment, engines and generators for construction, mining, industrial, petroleum and agricultural applications. HOLT also sells Caterpillar used equipment worldwide and fabricates its own line of custom engineered products. The company currently employs 642 individuals in San Antonio. The expansion of its corporate headquarters will include a $20.2M capital investment over 5 years, the retention of 150 local corporate headquarters jobs, and the creation of 45 new corporate positions over 5 years. HOLT considered a competing site in Irving, Texas where the company has a signifi...
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