TEXARKANA, Texas -- The Texarkana Independent School District Board of Trustees will hold a regular meeting on Wednesday where a public hearing will be conducted regarding a reinvestment zone for TCI Texarkana.
The board packet agenda states that the hearing will be held with the district's intention of designating the TCI Texarkana Reinvestment Zone.
The Texas Tax Code states that a school district may designate an area entirely within the territory of the school district as a reinvestment zone if the governing body finds that the designation is reasonably likely to:
-- contribute to the expansion of primary employment in the reinvestment zone; or
-- attract major investment in the reinvestment zone that would be a benefit to property in the reinvestment zone and to the school district; and contribute to the economic development of the region of this state in which the school district is located.
According to buzzfile.com, TCI Texarkana, which also operates under the name Texarkana Aluminum, is located in Texarkana, Texas (Nash) and primarily operates in the coils/sheet aluminum business.
In October, Bowie County Commissioners Court announced it was considering granting Texarkana Aluminum's parent company a 50% cut (abatement) on the company's annual property taxes. The tax cut would last five years.
The abatement would be a financial incentive for the company to expand operations on 119 acres of property in the 300 block of Alumax Drive, in Nash. The expansion has been estimated at $175 million. Eighty jobs are expected to be created.
Discussion and possible action on a resolution designating the TCI Texarkana Reinvestment Zone, establishing the boundaries thereof and providing for an effective date pursuant to Chapters 312 and 313 of the Texas Tax Code, will be one of the final items on the agenda.
In other news, an audit report for the fiscal year 2020-2021 and budget amendments for 2021-2022 will be considered for approval.
(The meeting will be conducted at 11:30 a.m. at the TISD District Services Building, 1600 Waterall St.)