Bastrop council and EDC direct staff to pursue grants, study TIF/TIRS and foreign‑trade options for industrial park

At a joint Bastrop City Council and Bastrop Economic Development Corporation meeting on April 21, 2025, council members and the EDC board directed staff to pursue federal Economic Development Administration (EDA) grants, investigate tax‑increment financing (TIF) and tax‑increment reinvestment zone (TIRS) scenarios for the city’s industrial park and the Highway 71 corridor, and explore foreign‑trade‑zone and EB‑5 regional‑center options to attract investment.

The move aims to create funding streams for infrastructure improvements in the city industrial park, which officials said is not yet “shovel ready.” Sylvia (Bastrop Economic Development Corporation staff) told the board the EDC is funded by a one‑eighth cent sales tax that yields about $1,100,000 a year and said any TIRS would “freeze collections” at current levels for a set term so that incremental property‑tax growth above that baseline could be reinvested in the zone.

Why it matters: City and EDC leaders said infrastructure — roads, utilities and site preparation — is the primary barrier to recruiting more employers to Bastrop’s industrial park. Staff and board members described TIF/TIRS as tools to borrow against future incremental tax revenues to pay bond debt for that infrastructure rather than depleting current reserves.

What the council and board heard - TIF/TIRS mechanics and example figures: Presenters explained a typical approach in which the city “freezes” the current property‑tax base for the zone and directs new property‑tax revenue above that base into a dedicated fund…