DEPARTMENT: Department of Planning and Community Development
DEPARTMENT HEAD: John Dugan
COUNCIL DISTRICTS IMPACTED: City Wide
SUMMARY:
Staff briefing on recommended changes to the 2008 TIF Policy and Implementation Manual.
BACKGROUND INFORMATION:
The Tax Increment Reinvestment Zone (TIRZ) allows the City of San Antonio to publicly finance allowable project costs necessary to make approved public improvements, enhancements to existing public infrastructure, and to maximize the benefits of other incentive tools. The allowable improvement costs incurred in the reinvestment zone are repaid over a pre-determined time period using future tax increment revenues. Taxes collected on assessed values above the base values established at TIRZ designation provide the TIRZ funding source (tax increment).
The Tax Increment Financing (TIF) Unit currently manages 20 active TIRZs throughout the City. Of the twenty TIRZs eight were City initiated and 12 were Petition initiated through private developers. Since FY 2005, the City has collected tax increment revenues of approximately $72M for itself and its Participating Taxing Entities (PTE) partners. These partners include Bexar County, University Health Systems, Alamo Colleges, Edgewood ISD, Southside ISD, and the San Antonio River Authority.
The City Council approved the original TIF Policy and Implementation Manual in 1998. Revised policies were subsequently approved in 2000, 2002, 2004, 2006 and 2008. The City is currently utilizing the 2008 TIF Policy and Implementation Manual approved on October 16, 2008.
On October, 29, 2014, staff provided a briefing at the City Council B session on the proposed Draft 2014 TIF Program Policy. Staff was directed to perform additional analysis and meet with stakeholders. Staff met with the following stakeholders and advisors to obtain feedback regarding policy refinement:
> November through December, 2014:
o Individual briefings with Ci...
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