The Point Isabel School Board of Trustees listen to public comments. (Dina Arévalo | Staff photographer)
By DINA ARÉVALO
Port Isabel-South Padre Press
editor@portisabelsouthpadre.com
On Tuesday, the Point Isabel School District Board of Trustees voted unanimously to withdraw an application for a tax valuation limitation submitted by Annova LNG.
In June, the Houston-based company submitted an application for the tax abatement under Chapter 313, known as the Texas Economic Development Act. If approved, the incentive would have allowed the tax valuation of the company to be limited to $25 million for 10 years. The company has previously stated the proposed facility represents an investment of $2.9 billion.
Vice President of governmental affairs for Exelon Generation, William Scott. was the lone speaker in favor of the tax abatement at Tuesday evening’s school board meeting. (Dina Arévalo | Valley Morning Star).
The Board heard comments from numerous residents opposed to the proposed tax break and a single supporter of the application before retiring to deliberate in executive session for almost an hour. Upon returning to open session, the Board voted unanimously to withdraw the application from the State Comptroller’s Office.
“The community has spoken and we have spoken and we affirmed,” said Trustee Bertha Zamora after the vote, to the applause of those in the chamber.
Representatives from Annova LNG and Texas LNG, another liquefied natural gas company seeking to build an export terminal along the Brownsville Ship Channel, declined comment after the meeting.
Want the whole story? Pick up a copy of the Port Isabel-South Padre Press, or subscribe to our E-Edition by clicking here.