by Andy Sevilla
Twenty businesses rolled out the carpet in Buda last year, and 10 have followed suit so far this year. Four businesses are presently under construction or expanding within the city limits, building permits show.
As population booms and business ventures continue to trickle into IH-35 corridor cities, Buda is preparing its strategic economic development plan in efforts to manage growth and attract “quality” businesses.
“We know Buda is going to grow, we want to make sure we manage that growth,” Buda’s Economic Development Corporation Director Ann Miller said. “That we focus on quality and not quantity projects, and make sure we don’t lose Buda’s charm and history in all the growth that is going to be headed our way.”
Four restaurants/eateries opened in Buda last year, while only two – Cleveland’s and Sweet Cakes 4 U – opened their doors during 2013’s first six months, but the Buda City Council permitted a new business, Fresh Donuts, for finish out. McDonald’s (east of IH-35) also received permits for expansion and remodeling.
Buda’s low property tax rate, proximity to Austin, population growth, and ability to provide financial incentives, situates the city in an appealing light for business looking to locate along IH-35, between Austin and San Antonio – one of the fastest-growing areas in the country.
Understanding Buda’s position, the city’s EDC is in a three-step process of developing a strategic economic development plan.
Phase I — Assessment — identified the types of businesses Buda will benefit from most as hospitality/destination tourism, office space, light industrial and additional retail, Miller said.
An incentive policy, which the corporation has not had since its creation in 2001, would identify what incentives businesses quality for and would set forth minimum requirements a prospect would need to meet. That work, known as Phase II, should be complete by July or August. Phase II of the plan will also look into improvements in Buda’s downtown.
In the past, Buda has offered financial incentives – sales tax rebates and financial support tied directly to job creation and the economic impact of the project, as well as Buda Improvement Grants, which have been used for downtown revitalization like restoring existing buildings or bringing buildings up to code – under general guidelines that examined each prospect’s merits.
Phase III of the plan will develop the strategic plan in conjunction with public input.
The EDC’s funding is generated by Buda’s sales tax. A half-cent of the city’s sales tax is earmarked for the EDC.
As of May, the EDC had $700,000 in unrestricted funds – monies that are available, and $750,000 in restricted funds – monies set aside for Chapter 380 agreements (such as sales tax rebates) and debt service payments, Miller said, adding that about $3 million in debt for economic development related projects are being paid down.
“We have money in the bank available to offer businesses… It’s evaluated on a case-by-case basis,” Miller said. “Just because we have money, it doesn’t mean we’ll offer it. It has to be the right business for Buda, and it has to be a quality project that not only increases the tax base, (but) provides additional employment opportunities for residents, will help diversify the economy and brings additional amenities or other unmet needs to our residents.”
Miller said the EDC treats every business equally.
“We evaluate every project based on the economic impact to the city, keeping in mind the mission of growing and diversifying the community while keeping our small town charm Buda is known for,” she said.
Business opened in 2012:
A-Discount Auto Loans
Empire Today
Fred Loya Insurance
Wild Flour Cakery
Gold & Silver Buyers
Fire Light Laser
Super Smiles
Tractor Supply
Dollar Tile
Bullit Proof Arms
Texas Car title and Payday Loan Services
Tavern on Main
Trimeric Office
Microtel
Vision Source Optometrist
Subway remodel
Sprint Retail Store
State Farm Insurance – Hank Gerdes
Thai Delight
Noah’s Art Self Storage
Business Opened in 2013:
Sweet Cakes 4 U
Murco Wall Products
Giggle n Grow Daycare
Austin Pet Memorial Services
Prosper Property Management
Silverado Crossing Apartments
CSI (Communication Specialists, Inc)
The Bridal Tapestry
Buda Sportscenter Retail Phase I (white box finish out)
Cleveland’s
Business under construction in 2013:
Fresh Donuts (finish out)
McDonald’s east of IH-35 (expansion and remodel)
Favorite Brands (remodel)
Wal-Mart (remodel/refurbish)
