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Brask, Inc. - Neela - City of Pearland Reinvestment Zone #30 Tax Abatement Application: Order Granting Tax Abatement
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Granting of Tax Abatement
It is Ordered that the application for tax abatement of Brask, Inc. - Neela attached hereto as Exhibit A, be granted in accordance with the Guidelines and Criteria for Granting Tax Abatement in the existing City of Pearland Reinvestment Zone #30, created by the City of Pearland under Ordinance No. 1632, dated December 11, 2023, for a term of five (5) years, and at 50% abatement of eligible real and personal properties; Said company will be investing $12,500,000.00 dollars, will retain 52 jobs, and additionally create 25 new jobs in Brazoria County. Said project will bring in 25 construction jobs at the start of construction, 40 construction jobs at the peak, and finish with 15 construction jobs.
The Tax Abatement Review Committee met on March 11, 2024, to review the application and voted to recommend the granting of said application.
Further that the County Judge is authorized to execute a tax abatement agreement with BRASK, INC. - NEELA in accordance with the same guidelines and criteria.