- An Offer Letter is a written document that outlines the community’s initial incentive offer to the prospect.
- The Offer Letter is NOT a binding contract.
- An Offer Letter is sent to a prospect after the staff and KEDC leadership have reviewed the Economic Impact Analysis.
- The Offer Letter is the beginning of negotiations with the prospect.
- An Offer Letter can be submitted to the prospect with a clear understanding that the offer is contingent on the approval of the authorizing agencies.
- Cash incentives are subject to the official approval of the Killeen Economic Development Corporation.
- Tax abatement agreements are subject to the official approval of the Killeen City Council.