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Bee Cave council bans public facility and housing finance corporations inside city limits
Summary
The Bee Cave City Council unanimously approved Ordinance No. 559 to prohibit public facility corporations (PFCs) and housing finance corporations (HFCs) within the city, citing concerns those entities can remove property from local tax rolls and reduce municipal control over development.
The Bee Cave City Council on Feb. 11 unanimously approved Ordinance No. 559, which prohibits the creation or operation of public facility corporations (PFCs) and housing finance corporations (HFCs) within the city limits.
City staff presented the ordinance as a measure to preserve the city’s appraisal role and maintain local control over development financing. The staff report said the ordinance would prevent outside entities from acquiring local property and…
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