Posting Language
Title
Approve an ordinance dedicating revenue derived from the City’s portion of tax revenues that will be generated from Tax Increment Reinvestment Zone No. 21 to the City’s Housing Trust Fund and the City’s Parks Enhancement Fund, and requiring an annual report about those tax revenues. Funding: This item has no fiscal impact.
Body
Lead Department
Austin Financial Services.
Fiscal Note
This item has no fiscal impact.
Prior Council Action:
July 23, 2026 – City Council approved the creation of Tax Increment Reinvestment Zone No. 21.
For More Information:
Kim Olivares, Austin Financial Services, Director, Kimberly.Olivares@austintexas.gov.
Additional Backup Information:
As part of Council’s actions on July 23, 2026, Council approved additional direction related to agenda item #111, directing the City Manager to bring forward an ordinance that allocates a portion of the City’s share of the tax revenue in the The Dog’s Head Tax Increment Reinvestment Zone (TIRZ) for housing and parks purposes. If approved, this Ordinance will dedicate a certain percentage of the funds to the City’s Housing Trust Fund and the City’s Parks Enhancement Fund. The City of Austin Housing Trust Fund (HTF) is a dedicated local funding mechanism managed by the Austin Housing Finance Corporation (AHFC) to build, preserve, and subsidize affordable and permanent supportive housing. The Parks Enhancement Fund is a dedicated fund established by the Austin City Council to support the maintenance and improvement of the city's park system.
The ordinance will also direct the City Manager to include information about the amount of funds generated by TIRZ No. 21 and how those funds are used.
Years of the TIRZ term
Revenue Source
Revenue Dedication
1-20
5% of property tax
5% of sales tax
50% to the Housing Trust fund
50% to the Parks Enhancement Fund
20-35
14% of property tax
14% of sales tax
50% to the Housing Trust Fund
50% to the Parks Enhancem...
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