Following a brief public hearing, City Council voted to increase the size of the boundaries of Reinvestment Zone Number One, an area within New Braunfels called a tax increment reinvestment zone, or TIRZ, during the Aug. 10 meeting that allowed for the station and training facility to be located at the new swath of land.
A TIRZ allows a city to capture projected increases in sales and property tax revenue created by a development within a defined area and then reinvest those funds into public improvements and projects within that zone.
Jared Werner, New Braunfels chief financial officer, said his department met with the TIRZ board in late July, and following the approval by City Council, Comal County will also need to approve the boundary change.
The total cost of the station and training facility is estimated at $13 million, according to city documents.
