Harlingen Development Corporation City of Harlingen, Texas.
-
Upload
susanna-newton -
Category
Documents
-
view
231 -
download
0
Transcript of Harlingen Development Corporation City of Harlingen, Texas.
Harlingen DevelopmentHarlingen DevelopmentCorporationCorporation
City of Harlingen, TexasCity of Harlingen, Texas
Presented by:Presented by:
Humberto Zamora Humberto Zamora • President• President Jim SpringfieldJim Springfield • Vice-President• Vice-President Armando Elizarde Armando Elizarde • Treasurer / Secretary• Treasurer / SecretaryJim DenisonJim Denison • Board Member• Board Member
Eddie MedranoEddie Medrano • Board Member• Board Member
2007 EDC PROJECTS2007 EDC PROJECTSEstimated Participation ValuesEstimated Participation Values
Project Fisher$1,000.000.00
Project Falcon Bank$0.00
Project Harlingen Venture Two$3,000,000.00
Project Cardone$500,000.00
NNN Harrison Crossing (Walgreen’s - Starbuck’s - T-Sprint) $286,537.00.
Project Mongolian Grill$12,000.00
Project Sony’s Fish Fry$26,000.00
Project ACT Call CenterPending
Project South Texas Shrimp Processing$350,000.00 +
PenskeRestructured Contract
VBMC/RAHC Nutritional Research Project$500,000.00
Lowes - Gas Line Extension$18,000.00
Harlingen Sports Foundation$300,000.00
Mid Valley Door & Truss$200,000 Refinanced
Via Novo Consultants$60,000.00
ITD Precision Metal Stamping$76,300.00
Airport - Project Valley Hangars$10,000.00
Webb Saw & Tool$119,750.00
Penn Aluminum$300,000.00
Project VIDA$250,000.00
Downtown Improvement District$40,000.00
Millsap/Shipley Consultants$120,000.00
TIF Consultant - Kline & Associates$30,000.00 +
United Launch AlliancePending Negotiations
Washington Consultant$120,000.00
Harlingen Chamber of Commerce$90,000.00
Hispanic Chamber of Commerce$60,000.00
Organizational StructuralOrganizational StructuralEntities Required for GrowthEntities Required for Growth
Chapter 373. COMMUNITY DEVELOPMENT IN MUNICIPALITIES (1987)Chapter 373. COMMUNITY DEVELOPMENT IN MUNICIPALITIES (1987)
Chapter 373A. HOMESTEAD PRESERVATION DISTRICTS ANDChapter 373A. HOMESTEAD PRESERVATION DISTRICTS AND REINVESTMENT ZONES (2005)REINVESTMENT ZONES (2005)
Subchapter C: HOMESTEAD LAND TRUST (2005)Subchapter C: HOMESTEAD LAND TRUST (2005)
Chapter 379. NORTH AMERICAN FREE TRADE AGREEMENTChapter 379. NORTH AMERICAN FREE TRADE AGREEMENT IMPACT ZONE (2001)IMPACT ZONE (2001)
Chapter 379A. MUNICIPAL DEVELOPMENT CORPORATIONS (2001)Chapter 379A. MUNICIPAL DEVELOPMENT CORPORATIONS (2001) Subchapter D. POWERS OF CORPORATIONSubchapter D. POWERS OF CORPORATION Sec. 379A. 051. ProgramsSec. 379A. 051. Programs
Organizational StructuralOrganizational StructuralEntities Required for Growth (Cont.)Entities Required for Growth (Cont.)
Chapter 380. Chapter 380. MISCELLANEOUS PROVISION RELATING TOMISCELLANEOUS PROVISION RELATING TOMUNICIPAL PLANNING AND DEVELOPMENTMUNICIPAL PLANNING AND DEVELOPMENT(1989/2005)(1989/2005)
Chapter 386. Chapter 386. COMMERCIAL AND INDUSTRIAL DEVELOPMENTCOMMERCIAL AND INDUSTRIAL DEVELOPMENTZONES (2001)ZONES (2001)
Chapter 431. Chapter 431. MUNICIPAL AUTHORITY RELATING TO PARKING (1987)MUNICIPAL AUTHORITY RELATING TO PARKING (1987)
State Program.State Program. STATE OF TEXAS AFFORDABLE HOUSINGSTATE OF TEXAS AFFORDABLE HOUSINGCORPORATION (2005)CORPORATION (2005)
Chapter 373. COMMUNITYChapter 373. COMMUNITYDEVELOPMENTDEVELOPMENT
IN MUNICIPALITIESIN MUNICIPALITIES
Chapter 373A. HOMESTEADChapter 373A. HOMESTEADPRESERVATIONPRESERVATION
DISTRICTS AND REINVESTMENTDISTRICTS AND REINVESTMENTZONESZONES
Chapter 373A. HOMESTEADChapter 373A. HOMESTEADPRESERVATIONPRESERVATION
DISTRICTS AND REINVESTMENTDISTRICTS AND REINVESTMENTZONESZONES
Subchapter CSubchapter CHOMESTEAD LANDHOMESTEAD LAND
TRUSTTRUST
Chapter 373A. HOMESTEAD PRESERVATIONChapter 373A. HOMESTEAD PRESERVATIONDISTRICTS AND REINVESTMENT ZONESDISTRICTS AND REINVESTMENT ZONES
Subchapter C HOMESTEAD LAND TRUSTSubchapter C HOMESTEAD LAND TRUST
Possible Uses Possible Uses
1.1. Development of Community Buildings economicDevelopment of Community Buildings economic development .development .
2. 2. Reinvesting the City foreclosed lots and homes by givingReinvesting the City foreclosed lots and homes by giving the properties to eligible applicants.the properties to eligible applicants.
3. Negotiate with the Harlingen Irrigation District for the3. Negotiate with the Harlingen Irrigation District for the abandoned canal properties which can be developedabandoned canal properties which can be developed into walkways, bike zones, residential, commercial,into walkways, bike zones, residential, commercial, industrial and manufacturing projects.industrial and manufacturing projects.
Chapter 379. NORTHChapter 379. NORTHAMERICAN FREE TRADEAMERICAN FREE TRADE
AGREEMENT IMPACTAGREEMENT IMPACTZONEZONE
Chapter 379. NORTH AMERICAN FREE TRADEChapter 379. NORTH AMERICAN FREE TRADEAGREEMENT IMPACT ZONEAGREEMENT IMPACT ZONE
Possible Uses Possible Uses
1.1. “ “F” Street CorridorF” Street Corridor
2.2. Downtown Improvement District CorridorDowntown Improvement District Corridor
3.3. Stuart Place Road CorridorStuart Place Road Corridor
4.4. North Loop 499 CorridorNorth Loop 499 Corridor
5.5. South 77 Sunshine Corridor – Behind Su ClinicaSouth 77 Sunshine Corridor – Behind Su Clinica and the I.R.S.and the I.R.S.
Chapter 379. NORTH AMERICAN FREE TRADEChapter 379. NORTH AMERICAN FREE TRADEAGREEMENT IMPACT ZONEAGREEMENT IMPACT ZONE
Chapter 379A. MUNICIPALChapter 379A. MUNICIPALDEVELOPMENTDEVELOPMENT
CORPORATIONS (2001)CORPORATIONS (2001)
Subchapter D. POWERSSubchapter D. POWERSOF CORPORATIONOF CORPORATION
Sec. 379A. 051. ProgramsSec. 379A. 051. Programs(1) Job training(1) Job training
(2) Early childhood development(2) Early childhood development
(3) After-school programs(3) After-school programs
(4) Funding to accredited postsecondary educational institutions(4) Funding to accredited postsecondary educational institutions
(5) Promotion of literacy(5) Promotion of literacy
(6.A) Development of a skilled workforce(6.A) Development of a skilled workforce(6.B) May develop or use land(6.B) May develop or use land
Chapter 379A. MUNICIPAL DEVELOPMENTChapter 379A. MUNICIPAL DEVELOPMENTCORPORATIONS (2001)CORPORATIONS (2001)
Subchapter D. POWERS OF CORPORATIONSubchapter D. POWERS OF CORPORATIONSec. 379A. 051. ProgramsSec. 379A. 051. Programs
Possible Uses Possible Uses
1. University Development to create a four year local1. University Development to create a four year local affiliate campus with an existing major university,affiliate campus with an existing major university, preferably Texas A&M (Engineering, Pharmacy and Education)preferably Texas A&M (Engineering, Pharmacy and Education)
2. Development of early childhood institutions 2. Development of early childhood institutions
Chapter 380 MISCELLANEOUSChapter 380 MISCELLANEOUSPROVISION RELATING TOPROVISION RELATING TO
MUNICIPAL PLANNINGMUNICIPAL PLANNINGAND DEVELOPMENT (1989/2005)AND DEVELOPMENT (1989/2005)
Chapter 380 MISCELLANEOUS PROVISION RELATING TOChapter 380 MISCELLANEOUS PROVISION RELATING TOMUNICIPAL PLANNING AND DEVELOPMENT (1989/2005)MUNICIPAL PLANNING AND DEVELOPMENT (1989/2005)
Possible UsesPossible Uses
1. Waters Edge Dining (Land Lease and encroachment.)1. Waters Edge Dining (Land Lease and encroachment.)A. City Lake CafeA. City Lake CafeB. Dixieland Lake RestaurantB. Dixieland Lake Restaurant
2. Innovative Sales Tax Credit Project2. Innovative Sales Tax Credit ProjectA. New Construction materialsA. New Construction materialsB. Remodeling Construction materialsB. Remodeling Construction materials
3. Commerce Center Park3. Commerce Center Park
Chapter 386. COMMERCIALChapter 386. COMMERCIALAND INDUSTRIALAND INDUSTRIAL
DEVELOPMENT ZONESDEVELOPMENT ZONES
Chapter 386. COMMERCIAL AND INDUSTRIALChapter 386. COMMERCIAL AND INDUSTRIALDEVELOPMENT ZONESDEVELOPMENT ZONES
Possible Uses Possible Uses
Establishing of a Biomedical Commerce ParkEstablishing of a Biomedical Commerce Parkon land available east of VBMCon land available east of VBMC
TITLE 14. PARKING ANDTITLE 14. PARKING ANDTRANSPORTATIONTRANSPORTATION
Chapter 431. MUNICIPALChapter 431. MUNICIPALAUTHORITY RELATING TOAUTHORITY RELATING TO
PARKINGPARKING
TITLE 14. PARKING AND TRANSPORTATIONTITLE 14. PARKING AND TRANSPORTATIONChapter 431. MUNICIPAL AUTHORITY RELATING TOChapter 431. MUNICIPAL AUTHORITY RELATING TO
PARKINGPARKING
Possible Uses Possible Uses
1. Parking facility for 250 new employees1. Parking facility for 250 new employees working for the ACT Call Centerworking for the ACT Call Center
2. Parking facilities for all new business2. Parking facilities for all new business developments requiring assistancedevelopments requiring assistance
STATE OF TEXAS PROGRAMSTATE OF TEXAS PROGRAM
Texas State Affordable Housing Corporations (2005)Texas State Affordable Housing Corporations (2005)
Single Family HousingSingle Family Housing1005 Congress Avenue, Suite 5001005 Congress Avenue, Suite 500Austin, Texas 78711-2637Austin, Texas 78711-2637
2006 B. Home for Texas Heroes Program2006 B. Home for Texas Heroes Program6.15%6.15% Interest RateInterest Rate797,756 797,756 Money AvailableMoney Available
2007 B. Homes for Professional Educators Program2007 B. Homes for Professional Educators Program6.60%6.60% Interest RateInterest Rate19,266,25419,266,254 Money AvailableMoney Available
Both programs offer 30 year fixed rate mortgageBoth programs offer 30 year fixed rate mortgage
Both programs offer down payment and closing costBoth programs offer down payment and closing cost assistance, up to 5% of the mortgage amount.assistance, up to 5% of the mortgage amount.
STATE OF TEXAS PROGRAMSTATE OF TEXAS PROGRAM
Program Eligibility for Heroes and EducatorsProgram Eligibility for Heroes and Educators
Heroes:Heroes: Educators:Educators:
• • Fire FighterFire Fighter • Classroom Teacher• Classroom Teacher
• • EMS PersonnelEMS Personnel • Teacher’s Aid• Teacher’s Aid
• • Peace OfficerPeace Officer • School Librarian• School Librarian
• • Corrections OfficerCorrections Officer • School Nurse• School Nurse
• • Juvenile Corrections OfficerJuvenile Corrections Officer • School Counselor • School Counselor
• • County JailerCounty Jailer • Allied Health Professional• Allied Health Professional
• • Public Security OfficerPublic Security Officer • Nursing Professional• Nursing Professional
• • Working in State of TexasWorking in State of Texas • Working in State of Texas• Working in State of Texas
Buyers / Future TaxpayersBuyers / Future TaxpayersAffordable Housing Incentives ProgramAffordable Housing Incentives Program
Buyers Incentives Plan Per HomeEconomic Impact
1 New Home - Appraised Value for- Harlingen’s Median Home Value
Property Taxes:
City Sales Taxes:
Revenue from building 1-New Home
Cameron CoCity HarlingenHarlingen ISD
South Texas ISDCOMBINED RATE
COMBINED TAXES
Construction Materials
Construction WagesWages Spent in Town
City Sales Texas
Values
$ 110,000
Tax RateTax RateTax RateTax Rate
PER HOME$ 55,000
$ 30,00060%
$ 487/Home
Taxes$100/Value
0.3481910.59
1.4240.0392
2.401391
8.25%2.00%
$18,0002.00%
Taxes
$ 383$ 649$ 1,566$ 43______$ 2,642
$ 4,537$ 1,100
$ 360$ 487$ 1,947
Year1
$0$0$0$0
Year 2
$649
Year 3
$1,298
Year 4
$1,947
Year 5
$2,596
City will not be losing its property taxbase, only 2% sales and use tax
associated with the actual constructionproject.
EDC 5 YEARS HOUSING PLAN AND MODEL
100 New Homes Gross Sales atEDC Investment / 100-HomesCity-Construction 2% Sales TaxesCity-Labor 2% Sales TaxesTotal Public Investment%City Investment on 100 Homesand $11,000,000 New Tax Base
Return on Public Investment
Homes / Year100
$ 48,700$ 110,000$ 6,000$ 194,7000
1.77%
$110,000100 Year 1
$11,000,000
$194,700
100 Year 2$11,000,000
$194,700
100 Year 3$11,000,000
$194,700
100 Year 4$11,000,000
$194,700
100 Year 5$11,000,000
$194,700
Total 5 Years500 Homes$55,000,000$ 243,500$ 550,000$ 180,000$ 973,500
1.77%
EDC MATCHING FUNDSSTotal Taxes Abatement
Harlingen Invested $ 973,500 and Received $ 55,000,000 in Housing ValueHarlingen Invested $ 973,500 and Received $ 55,000,000 in Housing ValueHarlingen’s Tax Base Increase is Now $ 1,321,000 per year / perceptualHarlingen’s Tax Base Increase is Now $ 1,321,000 per year / perceptual