By CJ Vetter
BUDA – On Aug. 2, the Buda City Council approved a new Public Improvement District policy, alongside passing new budgets for the 2023 fiscal year.
PIDs are a tool by which cities can fund and finance future improvements of the city. The new PID policy, as approved by the city council, will create a set of guidelines for any PID that wishes to be approved by the council must meet. While not a one-size-fits-all solution for every PID wishing to build in the city limits, the new legislation would help speed up the process that all PIDs must go through before being approved by the city.
The council also approved a budget for the Buda Economic Development Corporation for its projects in 2023. The BEDC is an economic development entity created to help pursue balanced economic growth. Its total net budget for the years of 2022 to 2023 was $490,054, compared to 2021 to 2022’s budget of $715,408.