Receiving Free Lots from a local city or municipality
I'm a new builder and I have been approached with the possibility of receiving two city lots in a small town near Houston TX. I have heard of builders receiving free lots so that they could develop them and create a taxable resource for the city once sold. I am looking for insight from someone who knows what is the best way to receive the lots and what is the correct proposal to submit to the city so that they can vote and pass it. I would also like insight in how to include the proper tax abatements so that we allow for sufficient time to develop and sell the lots prior to becoming responsible for the taxes or propose having a reduced or tierd tax base until the lots have been developed and sold. Also what are some of the advantages and disadvantages to this type of transaction. Your input will be greatly appreciated. Thanks