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Terrell moves to annex Fairfield MUD area, creates Tax Increment Reinvestment Zone to fund future roads and utilities
Summary
Council designated a reinvestment zone covering Fairfield MUD, approved maps and appointed the TIRZ board; council also approved annexation and related ETJ adjustments, enabling developer-funded road and utility work paid through captured tax increment.
Terrell, Texas — The Terrell City Council on April 8 advanced a package of measures to bring large tracts of the Fairfield Municipal Utility District (MUD) into the city and to create a tax increment reinvestment zone (TIRZ, called Reinvestment Zone No. 5) to finance future public infrastructure.
Why it matters: The actions together set the legal and financial framework the city expects to use to support major industrial and distribution development along Airport Road and the east side of town without issuing general-obligation debt. The developer and the MUD would construct roads, drainage, water and sewer; a portion of the incremental property tax revenue from the area (the tax increment) will be used to repay those public improvements over time.
What the council did: Council approved multiple related items during the meeting: - Ordinance 3091: Established light-industrial zoning for 282.42 acres that will be annexed into…
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