Presenter/Contact
Presenter
Jeff Jewell, Director of Economic and Community Development
Contact Info
(830) 221-4621 - jjewell@nbtexas.org
Subject Header
SUBJECT:
Title
Presentation and possible direction to staff around the establishment of a Tax Increment and Reinvestment Zone in downtown New Braunfels.
Body
BACKGROUND / RATIONALE:
Various downtown stakeholders have discussed the need for a dedicated funding source for capital improvements in the downtown area. The creation of a Tax Increment Reinvestment Zone (TIRZ) is being evaluated to provide such a mechanism.
ADDRESSES A NEED/ISSUE IN A CITY PLAN OR COUNCIL PRIORITY:
X
Yes
Envision New Braunfels
ACTION 1.15 Implement Downtown area improvements planned in the adopted 2010 Downtown Implementation Plan, and further envisioned in the South Castell Avenue Visioning Plan, including but not limited to a downtown hotel, increased downtown residential units, and expansion of the Civic/Convention Center ACTION 2.26 Achieve and update Downtown Implementation Plan goals for quality places downtown and along South Castell Avenue.
FISCAL IMPACT:
N/A
Recommendation
COMMITTEE RECOMMENDATION:
STAFF RECOMMENDATION: