Project Redeemer and Chapter 313
ExplainerWhat a Chapter 313 value limitation was, what Aledo ISD agreed to with Hanwha Q Cells Americas Holding Corporation in 2022, and where each vote sits in the record.
What was Chapter 313?
The Texas Economic Development Act, Chapter 313 of the Tax Code, let a school district agree to limit the taxable value of a company's qualifying new investment for the district's maintenance-and-operations tax for ten years, with the Comptroller's approval. The program expired for new applications on Dec. 31, 2022.
What did Aledo ISD approve?
On July 25, 2022, the board accepted the Project Redeemer application and retained consultants; on Dec. 16, 2022, after two public hearings with no comments, it created Project Redeemer Reinvestment Zone No. 001 and approved an appraised value limitation agreement with Hanwha Q Cells Americas Holding Corporation, Comptroller Application No. 2088, each 5-0.
Where was the project?
The board's executive-session postings from June 2021 onward listed the project location as I-20 South and Aledo Iona Road North.
What the minutes say and do not say
The minutes record the votes, the consultants, the application number and the zone; they do not state the investment amount, the limited value or the payments to the district, which are in the agreement itself and the Comptroller's filings for Application No. 2088.