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Nassau Bay holds first reading to extend tax increment reinvestment zone for redevelopment
Summary
City consultants and council held a public hearing and first reading on a plan to extend Reinvestment Zone No. 1 for 30 years and broaden eligible projects to support waterfront and commercial redevelopment.
The Nassau Bay City Council held a public hearing and conducted a first reading on an amendment to the Project Plan and Reinvestment Zone Financing Plan for Reinvestment Zone No. 1, seeking to extend the zonefor an additional 30 years and expand the list of eligible public and partnership projects.
Sue Darcy, a consultant to the city on the tax increment reinvestment zone (TIRZ), told the council the amendment "extends the life of the zone for 30 years beyond its current term" and increases the kinds of eligible projects the city can support, including…
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