2018 NEC Enhancement Grant Program
The NEC Enhancement Matching Grant program assists owners and tenants of commercial properties within the Perrin Beitel – Nacogdoches revitalization area with facade, landscape, and signage improvements to their businesses. Total project cost is reimbursed to grantee on 2:1 basis up to $50,000. Full program guidelines and application package can be found here: 2018 NEC Enhancement Grant Program Application Package
If you missed the Applicant Info Session on November 3rd, you can still view the presentation here: 2018 NEC Enhancement Grant Applicant Info Session Presentation
Tax Increment Reinvestment Zone (TIRZ)
A TIRZ works by capturing growth in tax collections from new projects and reserves it specifically for improvements in the dedicated zone. Revenue collected from the NEC TIRZ allows the City to fund improvements that will help spur private investment in the area. TIRZ revenue can be used to fund infrastructure improvements, streetscape enhancements such as landscaping and lighting, façade improvement grants, and public-private partnerships to redevelop blighted properties. It is estimated that the NEC TIRZ will generate $6 million over its 20-year term. A TIRZ does not levy an extra assessment on businesses or increase taxes.
Inner City Reinvestment Infill Policy
The City of San Antonio promotes growth and development in the heart of the City, specifically in areas currently served by public infrastructure and transit, but underserved by residential and commercial real estate markets through the Inner City Reinvestment Infill Policy (ICRIP). The intent of the ICRIP is to coordinate public incentives within targeted areas and to stimulate private investment. For this reason, the ICRIP program provides public incentives such as financial assistance and dedicated staff support for regulatory and procedural issues.