HOUSTON (AP) — Houston has approved new rules outlining additional community benefits companies seeking tax breaks for development projects will need to provide in order to get financial incentives from the city.
The new benefits — including improved training and affordable housing for the local workforce — are geared in part toward helping development in economically challenged communities.READ MORE: Fire Breaks Out At Watermere At Frisco Independent Senior Living Community, No One Hurt
The discussion in Houston over its tax abatement program is similar to others being held in other cities around the country over how communities can get the most from programs that offer tax breaks to spur economic development.READ MORE: Man Fatally Shoots Pregnant Ex-Wife, Man At Houston Soccer Field
In 2016, voters in Detroit passed an ordinance aimed at making sure developers get input from community members on benefits local residents would like to receive from companies in exchange for tax breaks.MORE NEWS: Real Estate: Texas In Middle Of 'Record-Breaking Summer Selling Season'
(© Copyright 2018 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)