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The South Central Waterfront plan will guide redevelopment of the area's 32 private parcels, the largest of which is the Austin American-Statesman building. (Endeavor)

The Austin City Council took steps Monday to create a special tax zone to subsidize infrastructure development in a 118-acre area along Lady Bird Lake known as the South Central Waterfront.

Plans for the zone call for the creation of amenities including a waterfront boardwalk, streetside rain gardens, commercial plazas, sculptures, amphitheater, and a disc golf course, as well as sidewalks, trails, and a revamped street network, at a cost of $277 million.

A proportion of property taxes collected in the district would go to fund just those improvements, rather than the general fund. A draft ordinance posted with Monday’s council agenda put the proportion at 46 percent, though the council delayed a final decision on the exact increment.

Read the full story at The Austin Bulldog.


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