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Kingsville introduces TIRZ No. 3 project and financing plan; first reading set for Feb. 10
Summary
City consultants presented a project and financing plan for Tax Increment Reinvestment Zone (TIRZ) No. 3 covering about 200 acres in south Kingsville, including a projected $68 million in real property increment and an estimated $11.7 million in TIRZ revenue over 30 years; the city commission will consider the ordinance on Feb. 10.
Kingsville city officials introduced an ordinance to approve a project and financing plan for Tax Increment Reinvestment Zone No. 3, a new financing district that would redirect a share of future real property tax growth within the zone to pay for infrastructure and development incentives.
Natalie Ayala of Pettit and Ayala Consulting told the commission the proposed zone covers roughly 200 acres on the city’s south side and includes the South Wastewater Treatment Facility. The TIRZ was created in December 2024; Ayala said the base year for calculating…
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