Drainage_and_Flooding_Report-dated_10_03_2008

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Mr. Ron Bottoms, City Manager October 1, 2008 Page 26 of 31 k I o t z ('41 associates L Another similar method for collecting funds for infrastructure improvements is to create a special taxing zone or tax increment financing zone. Tax increment financing (TIF) allows cities to capture increased property tax value and direct that money into capital projects serving the special taxing zone. For example, the City of Allen allows the developer to front the capital for infrastructure and the city pays back the developer, allowing the developer to keep the incremental increase in tax value. Many cities, including La Porte, establish tax increment reinvestment zones (TIRZ) in existing neighborhoods. The zone or neighborhood keeps the increase in tax value of their particular area by having the City can reinvest that money in capital projects serving the area in question. In some cases, cities may seek opportunities to leverage resources with government organizations with which they share interests. Some agencies that cities have worked with in the past include the Houston Galveston Area Council (HGAC), Texas Department of Parks and Wildlife, TxDOT, Texas Water Development Board (TVTDB), and the Federal Emergency Management Agency (FEMA). Of these agencies, TWDB is considered the most likely to provide additional funds for storm water drainage improvements. The agency administers two grant programs to mitigate flooding: the Federal Emergency Management Agency Flood Mitigation Assistance (FMA) Grant program, and the Flood Protection Planning Grant. The first grant covers acquiring property, relocating or demolishing structures, flood -proofing, elevating structures, minor localized structural projects, and beach nourishment (planting grass, etc.). The grant covers only insured property. The second grant, Flood Protection Planning, covers the evaluation of structural and nonstructural. flooding solutions in the context of the whole watersJQJ The TWDB also has three loan programs to which application can be made for municipal drainage projects. The State Loan Program (Development Fund 11) provides loans for storm water projects including the following: • Enlargement of stream channels • Modification or reconstruction of bridges • Acquisition of floodplain land for use in public open space • Acquisition and removal of buildings located in a floodplain • Relocation of residents of buildings removed from a floodplain • Public beach re -nourishment, control of coastal erosion • Flood warnings systems • Development of flood management plans