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Consultant outlines proposed expansion of Cleburne Tax Increment Reinvestment Zone No. 1; council to seek county cooperation
Summary
City consultants presented a proposed expansion of Tax Increment Reinvestment Zone No. 1 to about 1,688 acres and described a tiered participation formula intended to secure Johnson County’s cooperation.
City consultants and staff outlined a proposed amendment on Sept. 23 to expand Tax Increment Reinvestment Zone (TIRZ) No. 1 and discussed next steps with Johnson County.
Natalie Ayala Hall of Pettit & Ayala Consulting told the council the proposed expanded boundaries would increase TIRZ No. 1 to roughly 1,688 acres, with about 771 acres inside city limits and about 917 acres in the city’s extraterritorial jurisdiction (ETJ). If the council and county complete amendments this fall, the expanded boundaries could use a 2025 base year; if action slips into spring the base year would be 2026. The proposal would extend the term for the expanded area to 30 years, terminating Dec. 31, 2055.
The consultants’ model projects a mix of uses with a heavy industrial component. Their projection of new development taxable value was approximately $996,000,000 (across the…
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