The Corsicana City Council approved two resolutions granting two tax abatements at the Monday, Sept. 14 regular meeting, paving the way for Corsicana Bedding to return its company headquarters to Corsicana.
The deals are expected to mean the retention of 350 jobs with the creation of an additional 100 jobs in the future.
The project is expected to include $5 million dollars worth of equipment and a new $19 million dollar facility.
The term of the tax abatement agreement with Corsicana Bedding LLC. is for 10 years, and will reduce the tax paid by Corsicana Bedding by half.
The second abatement between the city and Hughes Commercial Real Estate and Development LLC will be tied to the facility. If contractual agreements are not met the city is entitled to claim any abated taxes.
The council also designated 161.417 acres, covering the entirety of the I-45 Industrial Park in Corsicana, as a Reinvestment Zone.
City Manager Connie Standridge detailed budget high points during a public hearing. She reported the General Fund reflects a deficit of $306,613. The budget includes a $3,000 base rate pay increase for civil service employees. Those employees will also receive a raise of $2,000 at the beginning of year three.
The budget was calculated using the proposed tax rate of 0.612 per $100 of accessed property value, this is a reduction of the current tax rate of 0.6272.
A final vote on the budget is expected during a special meeting of the city council scheduled Sept. 21. The decision to delay the vote was requested to allow the public more time to review and comment on the budget.
Council members approved the provided lists of election judges, alternate election judges, and other necessary election related positions. Early in-person voting will begin Oct. 13 the General Election is Nov. 3.
The city will have two contested races. Councilwoman Susan Hale will face Arlen Swartzentruber in Pct. 1. Ralph Gonzalez will challenge incumbent Ruby Williams in Pct. 2.
The council also voted to approve the city's name to be used in a film, as well as waive permit fees associated with the film by the same name, currently being shot around town.
The Council approved the City Manager to cast votes for the Texas Municipal League intergovernmental risk pool Board of Trustees Election. This is the Board through which the city buys its property insurance.
The next meeting of the Corsicana City Council will be Monday, Sept. 21.