The Huntsville City Council will meet in regular session tonight at six at City Hall.
Among the items on the council’s “Statutory Agenda” will be discussion and possible action to consider an addendum to the Chapter 380 Agreement the City has entered into with investors of Huntsville Hotel Group. A 380 agreement is a development incentive that is a typically used form of property tax abatements, loans or grants, commitments for infrastructure, or payments of portions of the sales tax generated by the project.
Negotiations on these incentives between the local jurisdiction and the developer occur on a case-by-case basis. The provision of development incentives is not unique to Texas, as many other states also provide various incentives for economic development.
The City of Huntsville has used 380 agreements in past economic development projects. The current agreement deals with a waiver of permit and tap fees to the City–not to exceed $15,000 dollars.