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NOTICE OF TAX REVENUE DECREASE FOR FY2020-21

BRAZOSPORT COLLEGE HAS ADOPTED A TAX RATE THAT WILL RAISE MORE TAXES FOR MAINTENANCE AND OPERATIONS THAN LAST YEAR’S TAX RATE. THE OVERALL TAX RATE WILL EFFECTIVELY BE DECREASED BY 0.77 PERCENT AND WILL REDUCE TAXES FOR MAINTENANCE & OPERATIONS AND INTEREST & SINKING ON A $100,000 HOME BY APPROXIMATELY $2.31.

TAX ABATEMENT APPLICATION – SHINTECH, INC., AND SUBSIDIARY K-BIN, INC.

Shintech Incorporated and its’ Subsidiary K-Bin Incorporated. On August 24, 2021, the Commissioners’ Court of Brazoria County granted the tax abatement request of Shintech, Incorporated and its subsidiary K-Bin Incorporated for tax abatement in the Brazoria County Reinvestment Zone No. 21-03 for a term of seven (7) years at 100% abatement of eligible real property on Shintech’s “B Plant” facility at its Freeport, Texas site.

K-Bin, Incorporated proposes to invest $30,000,000 to build a warehouse addition and a new production line that will add production capacity of PVC compounds by 80 million pounds per year. Currently K-Bin production is approximately 400 million pounds per year. In addition, K-Bin will add two rail tracks and a rail barn to accommodate the increase in production.

K-Bin receives PVC from Shintech and produces PVC based compounds with properties and characteristics that make the compound suitable for specific end uses. Some of these end uses are PVC pipe, window frame profiles, fence components and other consumer and construction related products.

The project anticipates 20 construction jobs at the start of construction, 40 construction jobs at its peak, and will finish the project with 20 construction jobs. K-Bin has considered other locations in Louisiana for constructing this new warehouse and production line for PVC compounds.

Once construction is completed K-Bin estimates that they will hire 10 new positions. They will need two positions for each of their four (4) shifts for the production line, and two additional positions for their labs.

The Brazosport College Tax Abatement Review Committee (TARC) met with Rick Przeworski, K-Bin, and Kirk Glasby, DuCharme McMillen and Associates, Inc., on behalf of K-Bin, to discuss K-Bin’s tax abatement application on August 31, 2021. The TARC committee reviewed the application and determined that it met the tax abatement guidelines. K-Bin’s tax abatement application will be presented to the Board of Regents on October 18, 2021, after the required 30-day web posting.