As part of our ongoing effort to keep readers up to date with all that is going on at City Hall, we present our tip sheet for Austin City Council committees. As usual, we will be offering highlights of meetings, though this week there is only one City Council committee meeting.
Housing and Community Development Committee
3. Consider a draft ordinance that would establish a Homestead Preservation District Tax Increment Reinvestment Zone in District A.
Monitor’s take: At its November meeting, the Housing and Community Development Committee heard a presentation on Homestead Preservation District Tax Increment Reinvestment Zones. District A, which is up for consideration at this meeting, was actually established in 2007, and is in near-East Austin, mostly in the area bordered by I-35, Manor Road, Airport Boulevard and Lady Bird Lake. Now Council is getting ready to use the district as a Tax Increment Reinvestment Zone, which would allow the city to set aside a certain amount of property tax revenue that could be used within that district. The plan is to have the city’s Neighborhood Housing and Community Development Department use funds for existing affordable housing programs in that area. Council plans to have a public hearing on the issue this week and to vote on the creation of the reinvestment zone at its Dec. 17 meeting.