DEPARTMENT: Department of Planning and Community Development
DEPARTMENT HEAD: John Dugan
COUNCIL DISTRICTS IMPACTED: City Wide
SUMMARY:
Approval of the amended City of San Antonio (CoSA) Tax Increment Financing (TIF) Program Policy.
BACKGROUND INFORMATION:
The Texas Tax Increment Financing (TIF) legislation permits the City of San Antonio to finance allowable public improvements to support the redevelopment of blighted or underutilized areas using the tax revenues from new development. The allowable improvement costs incurred in the reinvestment areas are repaid over a pre-determined time period using future tax increment revenues. Taxes collected on assessed values above the base values established at Tax Increment Reinvestment Zone (TIRZ) designation provide the TIRZ funding source (tax increment).
The TIF Unit currently manages 20 active TIRZs throughout the City. Eight are City initiated and 12 are 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, and 2006. 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 City Council Members
o Briefing with TIRZ ...
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