The Zipp Family Sports Park, located at Klein Road and FM 1044, is a $40 million, 150-acre multisport park project. Land acquisition for the sports park was approved by voters as part of Proposition 2 in the city's 2013 bond. In a 2019 bond, voters approved funding for the construction of Phase 1 of the project.
The three other TIRZs established in the city are in the Creekside, Mission Valley Hill and downtown areas of New Braunfels.
A TIRZ works to capture a portion of the new tax revenue occurring within the defined zone, making a Tax Increment Fund available to assist in financing projects identified in the Preliminary Project and Financing Plan. The plan calls for 85% of the city’s property tax to be directed into the Tax Increment Fund. There are no other taxing entities contributing a portion of their tax increment to the fund, and no sales tax is proposed to be directed to the fund, agenda documents state.
Two-minute impact
Over a 25-year period, TIRZ No. 4 will generate approximately $5.1 million, which will provide funding for projects such as parks and streetscape enhancements, public infrastructure improvements, and economic development incentives, according to agenda documents.
Due to the size, location, drainage issues and land characteristics, new private sector development and redevelopment within TIRZ No. 4 is unlikely to occur, according to the Preliminary Project and Financing Plan.
Other than the city of New Braunfels, the taxing jurisdictions applicable to TIRZ No. 4 are:
- Guadalupe County
- Guadalupe County Lateral Road
- Marion ISD
- New Braunfels ISD
