Approve the submission of a letter of no-objection to the designation of Applied Materials, Inc.’s Harris Branch, Howard Lane, Metric Boulevard, and Spectrum Drive sites by the U.S. Foreign Trade Zone Board as foreign trade zone sites, which would exempt certain foreign trade zone eligible inventory located at those sites from state and local ad valorem taxation and thereby reduce ad valorem tax revenue by approximately $119,000 for the City annually. Funding: This action could result in a reduction in ad valorem tax revenue by approximately $119,000 annually.
25-1625 · Consent · Passed