Draft of 380 Agreement
A 380 agreement is often used by municipalities to offer city funds for loans, grants, or services to businesses. These offers are often at little or no cost to the corporation in order to promote state and local economic development. Many times, the offers will also include property tax abatement (which means they will reduce property taxes for the business). The goal is stimulate business and commercial activity in the city. The city must report the 380 agreements to the State. The 380 agreement allows for negotiation that does not have to be communicated to citizens beforehand.
A member of the San Angelo Data Center Citizen Coalition submitted a Texas Public Information Act (TPIA) request regarding Skybox data center and related documents. Among those documents is a draft of a 380 agreement - one which discusses tax abatements, even though City Council representatives have been saying in interviews and to constituents that there will not be a tax abatement.
You can find a copy of the draft - not the official document - from the TPIA request below.
A member of the San Angelo Data Center Citizen Coalition submitted a Texas Public Information Act (TPIA) request regarding Skybox data center and related documents. Among those documents is a draft of a 380 agreement - one which discusses tax abatements, even though City Council representatives have been saying in interviews and to constituents that there will not be a tax abatement.
You can find a copy of the draft - not the official document - from the TPIA request below.
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