Economic Profile: Incentives
The 4A Corporation of the Town of Sunnyvale outlines below the
incentives that the Town may be able to offer for new investments
in Sunnyvale. These new investments may be from an expansion of
an existing industry or business in Sunnyvale or an industry
or business considering a new location in Sunnyvale.
Texas Dept. of Agriculture/ Texas Capital Fund for Infrastructure:
Sunnyvale is qualified to apply, on behalf of the developer or
end user, for funding up to $750,000 for infrastructure or real
estate
development. Applications are competitive and the application periods
are quarterly. The minimum job creation requirement is 30 jobs.
The infrastructure development is a grant.
Texas Enterprise Zone: Pprojects that create more than
10 permanent jobs may be nominated
by
Sunnyvale as a project for the Texas Enterprise Zone. Sunnyvale
4A Corporation
may offer to pay for the application preparation ($3,500) and
for the application fee ($750). Once nominated, the Texas Enterprise
Zone Project is allowed to obtain sales tax rebates at a rate
of
$2,500 per employee position created. The sales tax rebate is
particularly beneficial to obtain rebates on sales tax paid for
construction
materials and labor.
Tax Increment Financing: Tax Increment Financing is available
through the Town and the County if a study shows that this will
benefit both the project and the Town and County as the most cost
effective method for infrastructure development. The Town may request
a financial feasibility study from the project developer and owner.
Waiving of the Agricultural Exemption Taxes Owed: The Town may
consider, as part of the total incentive package for projects over
$5,000,000, the waiving of past due agricultural exemption taxes
owed.
4A Sales Tax Incentive Grant for Infrastructure: The 4A
Development Corporation may provide a grant for the infrastructure
of a project
in consideration of the investments made by the developer and end
user against the cost of said infrastructure with a goal to obtain
a
return on the investment over 5 to 10 years. The Texas Leverage
Fund may be utilized to leverage the available funds of the 4A
Corporation.
4A Sales Tax Incentive Grant for Projects with
Primary Jobs: The
4A Development Corporation may consider providing an incentive
grant to a project where primary jobs are created and the
company’s products or services are ultimately exported
to regional, statewide, national or international markets.
Tax Abatement: The Town of Sunnyvale may consider abating the
real estate and/or personal property tax for projects with an investment
over $2,500,000 for variable rates of abatement over 10 years.
Application and guidelines are available.
Fast Track Permitting and Inspection Procedures: Town of
Sunnyvale and staff will provide a fast track, "one stop shop"
for permitting
and inspections related to the qualifying development.
Impact Fee Reductions: The Town of Sunnyvale may consider reducing
the impact fees on projects with a real estate investment over
$5,000,000 and 5 acres.
Waiving of Platting, Zoning and Building Permit Fees: The Town
of Sunnyvale may consider waiving the zoning and platting fees
plus a portion of the building permit, plan review and inspection
fees for projects over $5,000,000 and 5 acres.
Triple Freeport Tax Exemption: The Town of Sunnyvale, Sunnyvale
ISD, and Dallas County have the Freeport Tax Exemption. Material
that is transported outside of Texas not later than 175 days after
the date the person who owns it on January 1 acquired it, or imported
it into Texas and assembled, manufactured, repaired, maintained,
processed, or fabricated and shipped the materials out of Texas
during the required time is Freeport goods. An application for
this exemption must be filed, annually, with the Dallas County
Appraisal District by April 30 each year. Copies of this application
complete with instructions and supplemental forms are available
on the website www.dallascad.org or
can obtained from the appraisal district.
The above list serves as a general guideline for your use in considering
an investment in Sunnyvale. The Town of Sunnyvale is interested
in attracting quality entities and will be very competitive in
order to obtain the project quality desired by its citizens. We
would
be
pleased to consider preparing a detailed incentive offer for potential
candidates following a meeting of the developers and end users
with the Town staff and 4A Development Corporation, completion
of a incentive application and provision of planned confidential
financial commitments by the use/developer.
Please contact Pam Mundo regarding the incentives:
Pam Mundo
Mundo and Associates
(214) 773-0966
pmundo@mundoandassociates.com
Revised November 2007
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