The city of San Angelo approved a resolution authorizing up to $1 million from the North Tax Increment Reinvestment Zone to assist commercial property owners affected by the July 4 flood, according to a news release.
The City Council approved the resolution at Tuesday’s meeting, following a recommendation from the TIRZ Board’s Aug. 8 meeting.
“The resolution establishes a set-aside amount of North TIRZ funds to help eligible property owners cover damage repair costs,” the release stated. “Within the North TIRZ, 72 properties were identified as sustaining minimal to significant damage during the flood.”
Under the program:
Any money not allocated after 90 days automatically goes back into the North TIRZ fund for recommendations for reallocation from the TIRZ Board and City Council, city officials said in the media release. To apply, contact the planning division at 325-657-4210 or email hannah.murrell@sanangelo.gov.
This article originally appeared on San Angelo Standard-Times: San Angelo City Council approves $1 million for flood recovery
Reporting by Rosanna Fraire, San Angelo Standard-Times / San Angelo Standard-Times
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