On Tuesday, Oct. 29, city leaders began the first of several public hearings that discuss the annexation of properties that do not sign new Industrial District Agreements (IDA).
During the hearing, there were no comments from community members regarding the agreements. The Director of Planning and Community Development, Daniel McGinn, presented the details of the agreement to council members.
According to the city, they are currently negotiating with as many as 80 companies located within the city’s Extra-Territorial Jurisdictions (ETJ).
Here are maps that show the involved industrial districts:
The city began utilizing IDAs in 1981 to enhance economic stability. Under the agreements, the city collects annual payments in lieu of property taxes. In return, the city will not annex the land.
“We collect a payment in lieu of taxes, which is going to increase to 74.5% of the taxes on improvements. They do pay 100% of taxes on land as if they were inside of the city limits,” Assistant City Manager Heather Hurlbert said.