New Braunfels City Council members on Monday are expected to take up the second and final reading of a measure that would allow the development of multiple dwelling units in
New Braunfels City Council members on Monday are expected to consider the adoption of a tax increment financing policy.
Tax increment financing, also known as TIF, is a tool available to municipalities under the state s tax code that utilizes the increase in property and sales taxes within a defined geographic area as a source of revenue for public improvements as described in a project and finance plan.
The proposed policy outlines the goals of TIF deployment, as well as establishes expectations and requirements for the level of due diligence that would be undertaken.
According to city officials, the purpose of such due diligence is to provide some reasonable assurance that any project applying for TIF assistance would not occur but for the incentive and that the improvements proposed will be constructed within a reasonable timeframe.
New Braunfels Planning Commission members recently recommended two proposed rezoning requests, both from agricultural/pre-development to a zero lot line district, a designation intended for single-family home development.
In a 5-4 vote during its July 6 meeting, members recommended a proposed rezoning of a 105-acre property on Farm-to-Market Road 758, from âAPD AHâ Agricultural/Pre-Development, Airport Hazard Overlay District to âZH-A AHâ Zero Lot Line, Airport Hazard Overlay District.
The current agricultural zoning district of the property, located about 1,500 feet east of State Highway 46 South and one-half mile from New Braunfels Regional Airport, is intended for newly annexed areas, agricultural uses and areas where development is premature due to a lack of utility capacity or where the ultimate use has not been determined.
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