Summary

TIF is the City’s most versatile and useful tool for encouraging economic development. The increase in taxes generated by a project within a TIF district can be captured by the City for use in financing public improvements. TIF funds have often spurred development in areas which would otherwise lack proper streets, sanitary sewer, or water.

Municipality Agreements

Chapter 380 of the Local Government Code authorizes municipalities to offer incentives designed to promote economic development such as commercial and retail projects. Specifically, it provides for offering loans and grants of city funds or services at little or no cost to promote state and local economic development and to stimulate business and commercial activity.

Pre-Requisites for application:

  • Company must establish place of business within the City

  • Minimum annual sales tax revenue: $100k

  • Maximum amount of City sales tax revenue paid: 70%

  • Duration: Initial term not to exceed 10 years