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SECTION INDEX
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Tax Increment Financing (TIF) and Development Authority Boards
TIF
By ordinance and as adopted, Tax Increment Reinvestment Zone No. 1 for the City of Leander, and known as the “TIF”, applies to a distinctly defined area that generally encompasses the Leander TOD (Leander Transit Oriented Development). A TIF captures the incremental difference in property value from the date of creation to a given time-certain. In this case, 25 years from the date of creation. In the Leander TIRZ No. 1, the City plows 50% of the increment back into the TOD, as does Williamson County, with the other 50% going back into the general fund. The policy and approach of the TIF, at this time, is to reimburse costs of projects that had been identified in the “Project Plan”, adopted as part of the TIF ordinance. Tax increment reimbursement considerations are on a case-by-case basis and focus on projects in the Project Plan and within the TOD. The TIF is a tool that local governments can use to participate in the financing needed for desired structural improvements and enhancements to public infrastructure within a defined area. All reimbursement agreements are subject to Council approval. Presently the TIF reimbursements are performance based since the cost of the improvements to the area is repaid by the creation of value and subsequent tax revenues by each property that would receive reimbursement. Development Authority
The Development Authority is the contracting agent for the TIRZ. It has the capability to implement projects as necessary and as approved by the City Council. The board is made up of the same members as Leander TIRZ No. 1. Meetings
The Boards meet back to back, every third Monday of the month at 2:00 p.m. at the Leander Public Library Conference Center, 1011 S. Bagdad, Leander, TX. All agendas maybe viewed from Quick Links on the Home page. Members
Board members serve a two year term or until replaced.
Contact Information Contact the City Secretary if you have any questions Debbie Haile 200 W. Willis Leander, TX 78641 Ph. (512) 528-2743 |
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