Government
BY ETHAN THOMAS & AMIRA VAN LEEUWEN
New Braunfels City Council unanimously approved an ordinance creating its fourth tax increment reinvestment zone, or TIRZ, for a 195.9-acre tract of land within the Zipp Family Sports Park on Nov. 10. The park, located at Klein Road and FM 1044, is a $40 million , 150-acre multisport park project. Land acquisition for the park was approved by voters as part of Proposition 2 in the city’s 2013 bond. In a 2019 bond, voters approved funding for the construction of Phase 1 of the project. “We’re hoping to have this space be complementary 4th tax increment reinvestment zone approved
TIRZ No. 4 preliminary build-out and revenue forecast Over the next 25 years, TIRZ No. 4 is anticipated to generate a total of $5.1 million in TIRZ revenue to the city of New Braunfels.
Total revenue forecast at 85% contribution
Total taxable value
$400K
$31,547,206 2030 $61,960,058 2035 $71,828,688 2040 $83,269,136 2045 $96,531,751 2050 2025 $1,050,000
+$5.1M
$300K
$200K
$100K
$0
2025 2030 2035 2040 2045 2050
SOURCE: CITY OF NEW BRAUNFELS, TXP, INC.COMMUNITY IMPACT
to the sports park,” Deputy City Manager Jordan Matney said during an Oct. 27 City Council meeting. A TIRZ works to capture a portion of the new tax
revenue occurring within the dened zone, making a Tax Increment Fund available to assist in nancing projects identied in the Preliminary Project and Financing Plan.
TIRZ No. 4 boundary Multi-family, commercial properties Zipp Family Sports Park (Property already owned by the city)
What else?
Two-minute impact
WALNUT AVE.
About $5.1 million will be generated within the TIRZ, which will provide funding for projects such as parks and streetscape enhancements, public infrastructure improvements, and economic devel- opment incentives, according to agenda documents. Due to the size, location, drainage issues and land characteristics, new private sector development and redevelopment within TIRZ No. 4 is unlikely to occur, according to the Preliminary Project and Financing Plan. The zone encompasses the entirety of the Zipp Family Sports Park and four additional lots, includ- ing two adjacent lots, which the city says could be used for retail, restaurant and hospitality spaces.
The three other TIRZs established in the city are in the Creekside, Mission Valley Hill and downtown areas of New Braunfels. Other than the city of New Braunfels, the taxing jurisdictions applicable to TIRZ No. 4 are Guadalupe County, Guadalupe County Lateral Road, Marion ISD and New Braunfels ISD. However, there are no other taxing entities contributing a portion of their tax increment to the fund, and no sales tax is proposed to be directed to the fund, agenda documents state.
W. ZIPP RD.
LEGEND POND
1044
Long Creek High School
W. ZIPP RD.
N
SOURCE: CITY OF NEW BRAUNFELSCOMMUNITY IMPACT
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