AGENDA CAPTION:
Title
Receive a Staff presentation, hold discussion, and receive direction from the City Council regarding the use of financial incentives, such as Public Improvement Districts, Municipal Utility Districts, Tax Increment Reinvestment Zones, and Chapter 380 Economic Development Grants to stimulate residential development (Resolution 2015-165R).
Body
Meeting date: December 2, 2020
Department: Planning & Development Services
Amount & Source of Funding
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Fiscal Note:
Prior Council Action: November 17, 2015 the City Council passed Resolution 2015-165R. October 20, 2020 the City Council had a work session providing direction to staff.
City Council Strategic Initiative: [Please select from the dropdown menu below]
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Comprehensive Plan Element (s): [Please select the Plan element(s) and Goal # from dropdown menu below]
? Economic Development - Choose an item.
? Environment & Resource Protection - Choose an item.
? Land Use - Choose an item.
? Neighborhoods & Housing - Choose an item.
? Parks, Public Spaces & Facilities - Choose an item.
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? Core Services
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Master Plan: [Please select the corresponding Master Plan from the dropdown menu below (if applicable)]
Vision San Marcos - A River Runs Through Us
Background Information:
In 2015, the City Council passed a resolution (#2015-165R) that put a moratorium on any further financial incentives for future residential development to allow the City to see how the market responded to the influx of new units. The resolution was to be in effect for five years and it expired November 17, 2020. On October 20, 2020, the City Council had a work session where staff presented an analysis of how the market absorbed t...
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