COUNTY TAX EXEMPTION (COUNTY)

• REQUIREMENT: "Special Letter" from Harris County Historical Commission supporting that the building is historic.  No longer requires listing as a Recorded Texas Historical Landmark (RTHL).
• BENEFITS: The County will exempt only the increse in the assessed value of the property for 7 years at 75% exemption from Harris County only (does not include Flood Control, Dept of Education, Port Authority, Hospital District or Community College).  Property owner will still pay tax on the base value of the building.  They will exempt 75% of the increase in value for 7 years of the improvement value (excluding the land value).  There are some stipulations for retail.
• PROCESS:  

1. Meet with Harris County Deputy
2. Write letter to Harris County Historical Commission requesting that they write a letter to Commissioners Court
3. File complete application with Harris County.

FOR INFORMATION

Contact: Scott Miller

Cushman-Wakefield

713-963-2835

scott.miller@cushwake.com

The 3-story building would make ideal office space for any business that wants large open spaces with a high-tech/industrial look.  Creative enterprises will especially appreciate the ambiance of the building.  Perfectly suited as office space for Architects, Advertising Agencies, High-Technology start-ups, a Downtown Medical Center, or support facilities for the Ballet, Opera or Alley Theater. It would also work great as a Fashion and Design Center with showrooms, offices and common-use areas for productions and displays. Trendy offices for brokerages or traders.  Employment Agencies...especially agencies dealing with high-tech jobs.  Any of these uses could be complimented by using the basement as a Jazz Club/Bistro at night and sharing the available parking.

ALTERNATIVELY, a downtown Entertainment Center could be created using the soundstage as a Performance Venue/Nightclub and the rest of the building for Shops, Bistros and Bars to support THE MAIN DRAW.