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image: SHUTTERSTOCK

San Antonio suburb approves tax district for $250M mixed-use project

Solms Landing will also generate $320,000 of construction sales taxes for the city, according to developers, and $2.6 million in sales taxes for the state. Once complete, the development is expected to provide an annual payoff of almost $2 million in tax revenue for the city; $450,000 in hotel occupancy taxes; and more than $1 million in property taxes.

The concept behind the creation of a PID is that the additional assessment will eventually benefit those within the zone.

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