Aoka's August Newsletter
Welcome to another issue of Aoka’s monthly newsletter!
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City of Amarillo granted a $30 million building permit for Buc-ee’s Travel Center, set to be at 9900 I-40 East near Airport Boulevard. J. Raymond Construction Corp will oversee its construction. This 75,000 sq.ft. center will feature 120 fuel pumps. Despite sales tax rebates of $4.5 million over 20 years, there's no property discount on the over $30 million cost.
Harris County officials have advanced a policy granting property tax exemptions for affordable housing. Texas already has a tax code offering exemptions to certain low-income housing projects, but local jurisdictions need to specify exemption amounts. Although Texas provides a 50% exemption on appraised property value, big counties like Harris County haven't adopted it. The rising property taxes have burdened nonprofits managing affordable housing. Harris County's new policy aims to alleviate this. Anticipated to be finalized by August's end, the policy might cover up to 50% of appraised property values, contingent upon budgetary considerations. This move addresses the county's growing need for affordable housing.
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To manage San Antonio's sprawl amid state laws restricting annexation power, the City Council is examining a policy utilizing alternative development tools for the city's extraterritorial jurisdiction (ETJ). Bexar County anticipates a surge of 1.1 million residents from 2010 to 2040. Historically, San Antonio expanded by annexing regions, increasing its tax base. However, reduced annexations and burgeoning developments strain resources without the added tax revenue from annexations. The proposed policy promotes sustainable development for potential future annexation, safeguards natural assets, and enhances regional coordination. The council is considering the policy in compliance with 2017 and 2019 state laws.
LaSalle Investment Management transformed a 50-year-old, 20-story tower at 275 Slater Street, Ottawa into a LEED Platinum-certified building. This upgrade reduced the building's energy use by around 20% through methods such as improved lighting and enhancements to the building fa?ade. The real estate industry is leaning more towards retrofits for various reasons, including meeting sustainability goals and attracting tenants. Institutional investors' environmental, social, and governance (ESG) goals, aging infrastructure, and new governmental energy efficiency regulations also drive this trend. Buildings globally account for 40% of carbon emissions, underscoring the importance of retrofitting for a sustainable future.
At Aoka, we're committed to powering small cities with solar PV that's not just efficient but also safe! Ensuring every installation meets electrical and building codes is our promise. Trust in our expert solar team to prioritize health and safety in every plan review.