If approved on July 19 when it next comes before the commissioners court, the tax abatement would be for a term of 10 years at a maximum abatement of 75 percent of the property tax obligation to the city.
In the memorandum to the commissioners, county staff recommended that the abatement begin at 55 percent and be increased incrementally if performance-based criteria are met.
Based on current tax rates and an estimated value of $100 million, if approved, Deloitte would receive approximately $1.7 million in tax abatements over 10 years. The hospital district is not included in the abatement agreement.
Deloitte University first launched in 2011 to “develop leaders from around the world.” A spokesperson for Deloitte who appeared before the commissioners court said the campus is “bursting at its seams” and needs to be expanded.
The current 700,000 square-foot campus, which sits on over 100 acres, includes over 800 hotel rooms, several dining venues, a fitness center, a ballroom, and a business center.
He emphasized that Deloitte is committed to Tarrant County, “our cultural home,” and to environmental sustainability and preserving the natural prairie landscape of the campus as much as possible.
The new campus would be built in two phases, beginning in 2023 with a target completion date in 2026, to add eight new buildings. The campus is expected to have “net zero” carbon emissions by 2030 by using 100 percent renewable electricity sources for buildings, converting the automobile fleet to plug-in hybrid or electric vehicles, and reducing business travel emissions.
Deloitte received a tax abatement in 2008 to build the training facility. That abatement has now expired, and according to the county staff, $130 million in tax value will be back on the county’s tax rolls.
Westlake is also home to Charles Schwab and Fidelity Investments.
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Kim Roberts is a reporter for the Texan in the DFW metroplex area where she has lived for over twenty years. She has a Juris Doctor from Baylor University Law School and a Bachelor's in government from Angelo State University. In her free time, Kim home schools her daughter and coaches high school extemporaneous speaking and apologetics. She has been happily married to her husband for 23 years, has three wonderful children, and two dogs.