Abilene City Council considers new housing development

(KTXS)

KTXS
by Marley Malenfant
Thursday, November 3rd 2022

ABILENE, Texas — Abilene City Council is considering the creation of a new Tax Increment Reinvestment Zone.

It would encourage private development in North Abilene and yield additional tax revenue. The private developer is looking to add 900 homes made up of single-family residences. The location is focused on Abilene Christian University-owned property behind Taylor Elementary.

The 420 acres are just west of the Jake Roberts Freeway and splits North 10th Street and East Highway 80.

Abilene City Manager Robert Hanna said it would be the third Tax Increment Reinvestment Zone for Abilene.

“A 911 single unit single family subdivision at build out,” he said. “It'll have a taxable value of $436 million so it's a major investment in our community.”

If approved, the project would presumably take 20 years to build.

Hanna gave more detail on the tax incentive for the Abilene school district, Taylor county and the city of Abilene.

“At the end of the 20 year program for this, you'll end up seeing the city, the school district and the county getting a total of about $166 million-$170 over the life of that 20 year term. So it is a lot of money in taxable value,” he said.

Hanna said previous ideas for developments could not work out.

“They couldn't turn it into a mobile home park or they couldn't turn it into a retail center or something like that,” he said. “The incentive is designed to be used for single family residential development. It'll probably be the largest new construction development in the north side in recent history for sure.”