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Hays Free Press
Kyle, Texas
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April 26, 2017     Hays Free Press
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April 26, 2017
 

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+ HaysFreePress.corn April 26, 2017 Page 1D BY MOSES LEOS HI Less than a year after opening in Kyle and San Marcos, the parent com- pany that owns the Polio Tropical brand has shut- tered the two locations. The move comes after the Fiesta Restaurant Group, Inc. announced the closure of 28 other restaurants in Austin, north Texas and in Nash- ville, Tenn., according to a news release on the groups' website. FRGI, which is the parent company of Pollo Tropical and Taco Cabana, said the plan to close the stores is of its strategic renewal plan which is designed to drive long term creation. part of the plan, the company intends to relaunch the Polio Tropi- cad brand in September of this year and to relaunch the Taco Cabana brand According to the release, preliminary first quarter 2017 sales results, which ended April 2, showed a 6.7 drop in restaurant sales at Polio Tropical and a 4.5 percent drop at Taco Cabana. late in the year once priority initiatives under the renewal plan are achieved," according to the release. Initiatives include returning to the found- ing principles that "made each brand iconic," im- proving ingredients, and delivering "exceptional" hospitality. Other methods include reducing costs through the organization, while also reducing broadcast media where possible and optimizing "post- launch advertising sup- port." According to the release, preliminary first quarter 2017 sales results, which ended April 2, showed a 6.7 drop in restaurant sales at Polio Tropical and a 4.5 percent drop at Taco Cabana. Industrywide head- winds, prevalent in Florida and Texas, along with the impact of sales cannibalization, contin- ued to negatively impact performance, the release /ii:i! :> .... POLLO TROPICAL, 4D Kyle's Polio r Tropical, which opened in 2015, is one of thirty locations PHOTO BY MOSES LEOS III that will close. ' 'i i',," ,,, Above, volunteers coordinate their efforts at a 2016 Habitat for Humanity build site. The organization, which provides those exchange for "sweat equity", may be allowed to offer up to $150,000 in home loans in the future if legislation passes. STAFF REPORT A recently passed house bill could go a long way toward help- ing organizations such as Habitat for Human- ity guide Texans toward homeownership. House Bill (1512), authored by Jason Isaac (R-Dripping Springs), increases the maximum amount of loans orga- nizations such as Habi- tat can extend from $90,000 to $150,000. These loans are partially serviced by the Texas Department of Housing and Com- munity Affairs through the Bootstrap Loan Program and partially by other sources, which are often charitable grants. According to a press release, the rising cost of living, property values and permitting costs are providing challenges for nonprof- it organizations to help Texans in need. "I'm excited to have passed this important piece of legislation," said Rep. Isaac. "Habi- tat and nonprofit orga- nizations like it provide an outstanding service to Texans in need, help- ing them find a path- way out of poverty." Amy Ledbetter Par- : ham, executive director of Habitat for Human- ity Texas, said home- ownership has widely documented benefits for residents. Those in- clude improved health and economic freedom, to more stable family livelihoods. "This bill will give more hard-working t Texans a boost to buy : their own homes. It's good for them and great for the Texas economy, bringing communities all the benefits of solid neigh- borhoods," Parham said in the release. Isaac said his bill would help more low- income Texans forge a path toward homeown- ership. "I look forward to continuing to work on more ways to reduce regulations, fees, and taxes to relieve the financial burdens on the hardworking people I serve." The bill has been sent to the Texas Senate for consideration bill in the House, where its companion was recently voted out of committee. Volunteers work PHOTO BY MOSES LEOS III in need with home loans in PHOTO BY MOSES LEOS III together to build a home at a 2016 Habitat for Humanity build in Wimberley. Financial Focus contributed by Jon Albright, CFPe Tax Freedom Day generally falls around this time each year. This is the day when the nation as a whole has earned enough money to pay offits total tax bill for the year, according to the calcula- tions made by the Tax Foundation. So you may want touse Tax Freedom Day to think about ways you can liberate yourself from some of the invest- ment-related taxes you may incur. Of course, Tax Free- dom Day is something of a fiction, in practical terms, because most people pay their taxes throughout the year via payroll deductions. Also, you may not mind pay- ing your share of taxes, because your tax dollars are used in many ways - law enforcement, food safety, road maintenance, public education, and so on- that benefit society. Still, you may be able to' reduce those taxes associ- ated with your invest- ments, leaving you more money available to help you work toward your important goads, such as a comfortable retirement. Here are some sugges- tions for making invest- ing less "taxing": Contribute regularly to tax-advantaged retire- ment plans. Contribute as much as you can afford to your IRA and your 401(10 or other employer-spon- sored retirement plan. Traditional IRA earnings grow tax deferred, and your contributions may be tax-deductible, de- pending on your income. (Taxes will be due upon withdrawal, however, and withdrawals made before you turn 591/2 may FINANCIAL FOCUS, 4D + I! ili i