Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Reinvestment Zone board ratifies finance plan, authorizes work on university-donation financing
Summary
The board ratified the preliminary finance plan adopted by City Council, voted to allow developers to prepare cost estimates for a proposed 100-acre donation to a four-year university, and approved moving forward with project financing work.
The Reinvestment Zone Number 1 board on Tuesday ratified the project finance plan that the Eagle Pass City Council previously approved and authorized the developer’s team to begin preparing detailed cost estimates and financing documents tied to a proposed university land donation.
The board voted 4–0 with Sonia Jumpin abstaining to ratify the preliminary finance plan included in the ordinance establishing the tax increment reinvestment zone (TIRZ) and the public improvement district (PID). Later in the meeting the board voted to allow the developer to start engineering and cost work for a plan that would donate roughly 100 acres for a four-year university; that motion also passed with one abstention.
Juan Aguilera, the city’s bond attorney, summarized the legal framework:…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
