Only the increase in fair market value of real property directly resulting from the development, redevelopment and/or improvement specified in the abatement contract will be eligible for abatement. The construction period may not exceed two (2) years. The number of additional full-time (or equivalent) jobs specified in the abatement contract should be maintained for the entire term of the abatement and pay no less federal minimum wages. Abatement Committee Upon receipt of an application for tax abatement, the City Manager will create a tax abatement advisory committee consisting of the Mayor, City Manager, the elected representative of the district in which the proposed project is located, and two representatives each of all other affected taxing jurisdictions. Said committee shall sit as to inform each taxing unit as to the particulars of each application and to concur in the advisory committee's recommendation to each taxing unit.

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409-385-9459-phone

800-915-0124-fax

Silsbee Economic Development Corporation

590 North 6th Street

Silsbee, TX 77656