SAN ANGELO, Texas — On Tuesday, Feb. 21st, the San Angelo City Council unanimously approved $676,987 for 11 projects in the North and South TIRZ. The council voted after a brief presentation on the projects recommended by the TIRZ board.
For the North TIRZ, projects include funding to improve a building at 2626 N. Chadbourne. Previously a laundromat, the owner is working on turning the building into a second Donutopia location. The owner submitted a request for $75,000 but the TIRZ board recommended funding for $65,413. The money will be used to cover the costs of facade improvements, a fire system, and asbestos abatement.
San Angelo's Tax Increment Reinvestment Zone was created in 2006 with the border running from downtown up north along Chadbourne and West 29th Street. According to the City's website, funds are made available to private businesses to "encourage revitalization and infill development of properties in these key locations.
For the South TIRZ, $75,000 was approved for the old Knights Inn at 402 W. Beauregard. New property owners stated in their project summary that they are looking to transform the space into a new boutique hotel called the Angoria Hotel, complete with a sheep statue. The property owners plan to use the TIRZ funds for facade improvements, landscape installation, fire system, and asbestos abatement. Despite being approved by the council, the funds are contingent on the new hotel owners paying the city hotel taxes not paid by the previous owner.
Seven other businesses applied for funds totaling more than $400,000. "I'm really glad to hear that these North Side business people are actually coming and applying for the funds. I hope they continue to do so," said District 4 Council Member Lucy Gonzales. Only three businesses in the South TIRZ were approved for funds nearing $200,000. The TIRZ board is looking at possibly adjusting the North and South boundaries so that more money will be available to businesses in the South TIRZ. A decision is expected to the next TIRZ meeting being held next week.
