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Developers propose large London-area TIRZ; county moves discussion into executive session
Summary
A developer and city staff outlined a Tax Increment Reinvestment Zone for an undeveloped London-area corridor; presenters said the plan would enable sewer and roads, and the court voted unanimously to continue negotiations in executive session.
Moses Mastagasi, a developer working with the city, described a proposed Tax Increment Reinvestment Zone (TIRZ) covering roughly 4,400 acres of the London area and told the commissioners the zone would support sewer, drainage and higher-density residential and commercial development.
"The London area is very unique. It's 87 square miles, mostly farm land in the area," Mastagasi said during a court briefing, which the county and city intend to use to coordinate potential annexations and infrastructure funding.
Mastagasi said the proposal is intended to permit annexation and targeted infrastructure investments that would allow higher-density housing and commercial development near the London Independent School District. He described three "shovel-ready" projects inside the hypothetical zone, including Mirabella, a planned amenity-focused community of about 1,200 homes, and a…
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