The city of Leander may consider doubling the amount of funds set aside to incentivize small businesses to come into its Old Town district.

In January 2016, City Council allocated $250,000 for the Old Town Incentive Program, which helps support businesses locating or expanding within Old Town Leander. The businesses are able to use the funds in ways that will increase the property tax value, such as construction or infrastructure improvements.

So far, $160,000 of the funds has been used for four businesses in the area: Casa Costa Bake Shop, CMP Management, Texas Business Machines and the Ponyfoot Public House brewpub. Economic Development Director Mark Willis said $90,000 remains in the fund.

Willis said the remaining amount would probably last through the rest of the year. There are two more businesses currently moving through the program, and he said if both move forward around November, then about $36,500 would remain in the fund.

“The way things are going, that’s [funds for] one more project,” Willis said.

City staff recommended that City Council refund the program with an additional $250,000 to incentivize and encourage additional small-business development in Old Town. Council members opted to hold off until after the city’s audit in February, but several expressed appreciation for the businesses that have been brought into the Old Town district so far.

“I just appreciate the innovation and creativity brought to this whole process in attracting businesses to our community,” Council Member Shanan Shepherd said.