Texas House Bill HB2772

Texas 2011 - 82nd Regular

• Introduced: 3/9/11
• Refer: 3/16/11

Caption

Relating to the Spring Branch Area Community Improvement District.

Impact

The passage of HB 2772 is anticipated to empower the Spring Branch Management District by providing it with enhanced capabilities to manage economic development initiatives. By allowing the creation of tax increment reinvestment zones, the district will have a significant financial tool at its disposal to attract investment and facilitate redevelopment efforts. The amendments validate previous actions taken by the district, ensuring that any past proceedings will not be deemed invalid due to procedural discrepancies. This may bolster confidence among investors and stakeholders in the district's governance and planning processes.

Summary

House Bill 2772 relates to the establishment and governance of the Spring Branch Management District, formerly known as the Spring Branch Area Community Improvement District. The bill amends various sections of the Special District Local Laws Code to formalize the district's name change and to update its operational provisions. This includes enabling the district to create tax increment reinvestment zones, which allows for the use of future property tax revenues from improvements within the zones to fund current projects. This mechanism is designed to promote economic revitalization and development within the district.

Sentiment

Sentiment around HB 2772 appears to be generally supportive, particularly among local leaders and business interests who view the bill as a means to foster economic growth and improve the community's infrastructure. However, there may be some concerns among residents or local advocates regarding the implications of tax increment financing and how it may affect existing public services or tax burdens. Overall, the sentiment reflects a proactive approach towards community development, aiming to address urban challenges through structured governance.

Contention

One notable point of contention regarding HB 2772 could stem from potential criticisms about the shift in funding mechanisms and governance structures that might be seen as prioritizing development over community needs. As the district exercises new powers, there may be worries about accountability and the preservation of community input in the planning processes. Future discussions and evaluations will likely focus on how effectively the district balances economic development with maintaining the interests and wellbeing of existing residents.