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Council approves increased funding and extended operations for downtown TIRZ project plan
Summary
The council held a hearing and unanimously approved an amendment to the Downtown Tax Increment Reinvestment Zone (TIRZ) plan that increases project funding, chiefly for an alleyway redevelopment, and extends funding for downtown operations through 2027.
The San Marcos City Council unanimously approved an amendment to the Downtown Tax Increment Reinvestment Zone (TIRZ) project and financing plan after a required public hearing Tuesday.
John Locke, the city’s finance director, summarized the proposal: the Downtown TIRZ board asked for an increase in the total estimated project cost by $2.8 million, of which roughly $1.6 million is an increased estimated cost…
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