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Council approves amendment to TIF Reinvestment Zone financing and project plan for FY2025–2029
Summary
Council approved amendments to the Tax Increment Financing Reinvestment Zone No. 1 financing and project plan to realign projects and adjust timing and operating expenditures for fiscal years 2025–2029.
The City Council voted 4-0 to adopt an amendment to the Tax Increment Financing (TIF) Reinvestment Zone No. 1 financing and project plans covering fiscal years 2025 through 2029, reallocating funding and adjusting project timing.
Finance staff said the Reinvestment Zone Board reviewed and approved the amendment and that project and finance committees met multiple times to align project readiness and cost estimates. Staff said changes were made after council’s December action on the Bell County annex agreement, which freed 2025 funds for allocation.
Highlights cited by staff included: use of about $658,000 of fund balance in 2025 to create roughly $7.7 million in available funding for the near term; acceleration or additional funding for the outer loop (Windland to I‑35), downtown city‑center work on Fourth Street to Avenue A, and South Temple water‑line work; moving certain rail site work to later years (including adjustments for Site 64); and directing $1.7 million for Old Howard Road design to extend to FM 1237. The amendment also restored funding for public improvements removed earlier and added master‑planning work for Crossroads Park and Wilson Park.
Staff told council the amendment reflects timing and estimate adjustments and is intended to align projects with funding availability. Council member Pilkington moved to approve the amendment; Council member Grant seconded and the motion passed 4-0.
No members of the public spoke on the item during the public hearing.
