San Antonio's City Council has approved the Rosillo Creek Tax Increment Reinvestment Zone, located near Loop 410 and New Sulphur Springs Rd. This developer-initiated Tax Increment Reinvestment Zone is the first to be accepted since the Planning and Community Development Committee updated the Tax Increment Financing Policy in 2022, according to the City of San Antonio.
District 3 Councilmember Phyllis Viagran and District 4 Councilmember Rocha Garcia have supported a project aimed at improving infrastructure and fostering development in San Antonio's South and Southeast sides. The Tax Increment Reinvestment Zone will bring an estimated 5,000 new housing units, commercial spaces, and industrial areas. "The approval of a petition-initiated tax increment reinvestment zone and full-purpose annexation of the newly created Rosillo Creek TIRZ will help drive much-needed investment in San Antonio’s historically underserved South and Southeast Side, addressing infrastructure challenges and leveraging economic tools to support strategic growth," Phyllis Viagran told the City of San Antonio.
The Rosillo Creek Tax Increment Reinvestment Zone proposal includes 50 acres of land to be donated to the San Antonio Housing Trust to ensure long-term affordability, 330 acres of green space, 170 acres for future commerce, and over 400 acres for a Business Park. The project is part of the city's efforts to prioritize housing accessibility through the Strategic Housing Implementation Plan initiative. The Planning and Community Development Committee worked with city staff and stakeholders to update the city's Tax Increment Financing policy, which will support developments like Rosillo Creek. "Our committee worked with city staff to develop changes, with input from stakeholders, and passed a new policy," said Rocha Garcia, as reported by the City of San Antonio.
