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Wet weather returns to forecast for New Braunfels

Wet weather returns to forecast for New Braunfels
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Metal fragments found in oil filter of doomed Texas aircraft

New city policy could set boundaries around New Braunfels development funding

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.

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