m - City of New Braunfels

,--,City of
~~New Braunfels
City Council Agenda Item Report
November 8, 2010
Agenda Item No. "'J!.
Presenter/Contact- Mike Morrison, City Manager
(830) 221-4280 - mmorrison@nbtexas.org
235
SUBJECT: Public hearing and consideration of the first reading of an ordinance by the City
Council of the City of New Braunfels, Texas enlarging the boundaries of Reinvestment Zone
Number One, City of New Braunfels, Texas; amending the project plan and finance plan for the
zone to reflect the increased boundaries; consenting to the amendment of an interlocal
cooperative agreement between the City of New Braunfels, Texas and the New Braunfels
Industrial Development Corporation to reflect the increased boundaries of the zone; and other
matters in connection therewith
BACKGROUND/RATIONALE:
On June 28, 2010, the Board of Directors of Reinvestment Zone No. 1 (Creekside) recommended
that the City Council expand the boundaries of the Zone to include 40 +/- acres of adjacent
property, including the site of the proposed Buc-ee's Travel Center. On July 26, 2010 the City
Council considered the recommendation of the Board and decided that the Zone expansion
should be limited to the Buc-ee's site only (approximately 18 acres). Acting on this direction, the
Zone Board met again on October 19, 2010 and has recommended amendments to the Zone's
Project Plan and Financing Plan that reflect the boundaries and revenues associated with
enlarging the Zone to include the proposed Buc-ee's site. This ordinance will amend the Project
Plan and Financing Plan of the Zone in accordance with that recommendation. Additionally, this
ordinance will ratify an amendment to the agreement between the City and the Industrial
Development Corporation regarding the Corporation's participation in the Zone to ensure that the
Corporation participates in the expanded areas of the Zone.
ADDRESSES A NEED/ISSUE IN A CITY PLAN OR COUNCIL PRIORITY:
IN/A
N/A
I City Plan/Council
. Priority:
FISCAL IMPACT:
N/A
BOARD/COMMISSION RECOMMENDATION:
The Board of Directors of Reinvestment Zone No. 1 (Creekside) have unanimously
recommended that the attached Ordinance amending the Project Plan and Financing Plan of the
Zone be adopted by City Council.
STAFF RECOMMENDATION:
Staff recommends approval of the Ordinance expanding the Zone in accordance with previous
City Council direction and Zone Board recommendation.
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