Corsicana Daily Sun, Corsicana, Texas

News

March 28, 2013

College accepts tax settlement

Corsicana — The Navarro College Board of Trustees voted Wednesday to accept a negotiated tax abatement settlement with Home Depot Distribution Center.

The company was granted tax abatements by the city of Corsicana, Navarro County and the college for promised improvements, inventory and job levels for the distribution center it opened in the old K-Mart Distribution Center.

In 2011, Home Depot announced it was moving the distribution center to DeSoto. The transition was completed in summer 2012.

A lawsuit was filed by the three taxing entities seeking re-payment of the incentives granted, seeking $1.3 million.

After negotiations, the three are expected to settle for a total repayment of $650,000 — roughly half of the amount originally sought.

Navarro College will receive about 9 percent of the total settlement, or about $55,000, said College District President Dr. Richard Sanchez.

City and county leaders are also expected to sign similar agreements.  The city will receive 46 percentof the $650,000 settlement, the county will get 45 percent.

The actions have no impact on the local Home Depot retail outlet.

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