PRESENTER: Presenter
Jeff Jewell, Economic and Community Development Director
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SUBJECT: Title
Presentation, discussion, and possible action on Downtown Business Improvement & Preservation Grant applications received as of January 31, 2024
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DEPARTMENT: Economic and Community Development
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COUNCIL DISTRICTS IMPACTED: 1, 5
BACKGROUND INFORMATION:
At the May 11, 2023 regular meeting, the TIRZ 3 (downtown) Board discussed the creation of a grant program to assist in the fulfillment of goals and strategies adopted in the 2010 Downtown Implementation Plan. In the 2010 plan, there were adopted strategies of establishing a funding source dedicated to downtown improvements, incentivizing infill occupancy and development for vacant space and lots, increasing the number of residents downtown, and other accessibility, and circulation and aesthetics enhancements such as improving the sidewalk network. All these strategies and others outlined in that plan became the basis for establishment of the Business Improvement and Preservation Grants Program. The program is intended to be awarded to businesses and property owners seeking to undertake improvements to buildings that will fulfill the goals of the Downtown Implementation Plan. The Tax Increment Reinvestment Zone # 3 (Downtown TIRZ) Project and Finance Plan included economic development incentives for environmental remediation, historic façade restoration and improvements and life and safety improvements and grants.
The grant program will consider awarding up to twenty-five percent (25%) of total costs for improvements that support the goals of promoting downtown infill occupancy, redevelopment, historic preservation, infrastructure and façade improvements, asbestos abatement, fire sprinkler system updates/installation, code updates, and ADA accessibility modifications.
The Downtown TIRZ Board, in collaboration with the New Braunfels Downtown Board, has been engaged in the creation of the program and continually offered ideas for project criteria, application requirements, broad versus narrow project types, application deadlines, maximum award payouts, the potential for partial awards, implementing fiscal impact analyses, the potential to offer loans, and in-person presentations by applicants.
The discussion continued at the Board’s June 8, 2023 regular meeting where staff was directed to move forward with the creation of the TIRZ 3 grant program policy, process flow chart, and preliminary online application. The Board convened again on July 13, 2023 to continue the grant program discussion and review a preliminary project grading metric. The Board advised staff to finalize the program.
At the August 25, 2023 regular meeting, the TIRZ 3 Board reviewed and approved the final grant program policy, flow chart, and online application. Staff provided an informative presentation on the proposed Business Improvement and Preservation Grant Program at the City Council Special Meeting on September 18, 2023.
The New Braunfels City Council approved a resolution establishing the Business Improvement and Preservation Grant Program at its October 23, 2023 meeting.
The online grant application was opened in late October and the Economic and Community Development department has been collecting applications for the TIRZ 3 Board to review.
Recommendation
RECOMMENDATION:
The TIRZ 3 Board address applications and advance selected projects to move for City Council approval.