Dupre Local Government Corporation
In 2004, the City of Buda took steps to aid the development of the Cabela’s project, primarily by contributing to a program of improvements to public infrastructure associated with the project. These contributions were facilitated through a complex network of arrangements, including a special purpose district, a local government corporation, numerous interlocal agreements, and special tax revenue dedications. The main purpose of these arrangements was the issuance of $31,750,000 in contract revenue bonds, the proceeds of which were used to reimburse Cabela’s, Inc. for a portion of their expenditures on the public infrastructure serving the project. As of 2012, all of the public infrastructures have been constructed and the bonds issued. At this point, the sole purpose of the arrangements is to ensure that funds are collected to make payments on the bonds issued. The Tax Increment Reinvestment Zone (TIRZ) district captures property tax revenues generated by the increased value of the project attributable to Cabela’s. The LGC serves as a clearinghouse for the various revenue streams associated with the public investments in the project.
The Corporation was established via the 2004 Interlocal Agreement between Hays County and the City. The Corporation is responsible for the receiving, investing, and disbursing of all funds of the Corporation, accounting for reporting on all financial activity, coordinating the independent audit, budget development, and administration and project financing for projects on the Cabela's Tax Reinvestment Zone. The Corporation meets annually and as needed throughout the year.
Agendas, Minutes, & Members
Agendas are posted on the website before the meeting and in compliance with the Open Meetings Act. Minutes are posted after they are approved.