Come Thursday, the Cameron County Commissioners Court will be asked to forego $25 million in property taxes over 10 years for Annova LNG after its application is approved by the Federal Energy Regulatory Commission in 2017.
The company says it anticipates that the actual abatements would kick in in 2020, after three years construction of an export terminal for liquefied natural gas.
In its proposed tax abatement agreement, it likens its application for tax breaks to the one the county gave the Tenaska electric generating plant. However, the difference is one of scale. While the Annova plant will cost $1.6 billion after its second phase is completed depending on customer demand, the Tenaska plant w3ill cost some $500 million.And while Annove is asking the county to forego nearly $25 million over 10 years, under the Tenaska agreement, the county will forego $6.740 million over the same lenght of time.
In both cases, the abatement will exempt 76 percent of the property taxes owed the county.
If the agreement with Annova is approved, the county would have agreed to forego a total of $31 million in taxes over the 10-year period including the Tenaska agreement..
In correspondence between the county and Annova, its Illinois Government and Public Sector Leader Gabe W. Sanders says the company has been in contact with individual commissioners and provided them with an alternate abatement schedule. In both cases, the property tax abatements total 76 percent.
"The conversations were held with the commissioners in an effort to alleviate concerns associated with the reduction in tax payments upon the abatement period beginning," Sanders wrote the county.
4 comments:
WHAT IN THE HELL ARE OUR ELECTED OFFICIALS THINKING, THESE FKERS ARE BILLION DOLLAR COMPANIES, remember TITAN TIRE.START MAKING PHONE CALLS PEOPLE !THEY WANT OUR BUSINESS AND LOCATIONS AND ELECTED OFFICIALS ARE GOING TO BEND OVER LET THEM STICK IT WITHOUT ANY VASOLINE ,
After 10 years the county will get their reward when the developed property will be much higher than the abatement. Hopelly the county gets some guarantees about development, jobs, and community involvement.
People who live in Boca Chica Village, all 26 of them, knew Elon Musk’s SpaceX company would put the South Texas town on the map after it was selected last year as the world’s first commercial rocket-launch site. Now, many want SpaceX gone and their obscurity back.
The residents say SpaceX representatives told them recently they would be required to register with the county, wear badges and pass through checkpoints on launch days, which will occur about once a month beginning as soon as next year. During a 15- hour launch time frame, their movement around the village could be restricted. If they happen to be picking up groceries past a designated "point of no return," forget about going home.
SpaceX’s proposed methods to enforce the safety rules — sweeping the beach with drones and video surveillance — aren’t helping matters. While the rules still might change, all this makes residents wish SpaceX would go away, with some even talking about acts of civil disobedience or maybe a lawsuit.
"I’m like, ‘Are you out of your mind?’" said Cheryl Stevens, 55, who settled in Boca Chica Village a decade ago in search of quiet, rustic beauty. "It’s like Nazi Germany."
Juan, Juan, Juan, we are EASY CULOS. That's why the politicians hav etheir way with us. get that in your head and you'll unnerstand the problem! ha ha ha
Dags
Post a Comment