TIRZ No. 1 board reviews finances, discusses Zaragoza and wayfinding projects; mural authorization tabled

The Tax Increment Reinvestment Zone No. 1 board met March 11 in City Council Chambers and received a financial presentation showing available operating and bond funds, heard project updates on Zaragoza Street and downtown wayfinding, and voted to table authorization to place murals on city-owned properties until the board’s next meeting.

Finance Director Francisco Mata presented year-to-date operating and bond figures, saying the TIRZ’s operating fund position is roughly $938,043 and that about $88,000 remains available for materials, supplies and contractual services for the rest of the year. He also reported on the 2021 Certificate of Obligation (CO) bond package, stating the bond package shows roughly $1.05 million available to spend on capital projects and noted the city has made $1.5 million from a 2024 CO available for downtown capital work. Mata told the board that, based on these figures, the zone could likely bond about $1.5 million every other year without using…