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City Council Meeting Minutes October 20, 2020 <br />been approved. This effectively began a moratorium on the consideration of <br />additional Public Improvement Districts, Tax Increment Reinvestment Zones <br />or other types of incentives. The resolution will expire on November 17, 2020. <br />Michael Ostrowski, Assistant Director of Planning and Development Services, <br />stated that within the developments an estimated 9,800 units are to be <br />constructed within the developments including single family and multi -family. <br />Mr. Ostrowksi mentioned the moratorium was placed on further financial <br />incentives for future residential development to allow the City to see how the <br />market responds. Currently, the residential units per subdivision upon build <br />out will be Blanco Vista —1,800, Kissing Tree— 3,400, Trace —1,300, La Cima — <br />2,800, and Whisper — 500. <br />Mr. Ostrowski stated the City participates in the following financial incentives: <br />— Public Improvement District (PID) created to levy and collect special <br />assessments on property within a district. <br />— Tax Increment Reinvestment Zone (TIRZ) captures the increase in tax <br />revenue that is created by development within an area and reinvests those <br />funds into public improvements and development projects that benefit the <br />zone. <br />— Chapter 380 provides grants/loans at little or no cost to promote economic <br />development. <br />Jon Snyder, with P3 Works, provided an update on the rive developments. Mr. <br />Snyder stated that Blanco Vista is Tax Increment Investment Zone (TIRZ) No. <br />2 and was created in 2006. Included is a $7.8 million railroad overpass on <br />Yarrington Road with Union Pacific Railroad. The developer paid upfront <br />costs to construct the overpass, and then the city is reimbursing them for <br />actual costs, plus interest, with TIRZ revenue. The County has 50% TIRZ <br />participation up to $1.0 million with the City participating at 100%. <br />Mr. Synder stated Kissing Tree (Paso Robles) is Tax Increment Investment <br />Zone (TIRZ) No. 4 and was created in 2011. The developer paid upfront for the <br />costs to construct the regional improvements, and then the city is reimbursing <br />them for actual costs, plus interest, with TIRZ revenue up to $20.0 million. <br />— County 10% TIRZ participation (— $3.3 million) <br />— City 40% TIRZ participation (— $16.7 million) <br />— Total reimbursement to developer capped at $20 million, but split between <br />City/County will vary based on adopted tax rates <br />Mr. Snyder stated Trace (Highpoint) Public Improvement District, was created <br />City of San Marcos Page 2 <br />