Manor creates Tax Increment Reinvestment Zone No. 2 to finance commercial improvements

Manor City Council on Dec. 18 adopted Ordinance No. 770 establishing Tax Increment Reinvestment Zone (TIRZ) No. 2 to support financing of commercial improvements within a defined geographic area in the city and its extraterritorial jurisdiction.

Scott Jones, the city's economic development director, told council staff had worked with a consultant to identify boundaries and project lists and had included a proposed financing plan in the meeting packet. Jones emphasized the numbers in the packet were estimates: "The financing plan that is contained in your package is also a proposed financing plan with projected costs and the numbers in there are an estimate and those can be revised by the board," he said.

The ordinance describes the zone's boundaries, creates a board of directors for the zone and establishes a TIRZ fund. Council discussed staggered term expirations for board members and asked staff to amend term dates in the motion language to reflect the timing of appointments. Councilmember motioned to approve Ordinance No. 770 with direction to adjust expiration language; the motion passed on voice vote.

Jones said the financing plan is a working document and that bid-level estimates will replace current projections as projects proceed; the TIRZ board will have authority to revise budgets and phasing. The ordinance authorizes staff to begin the administrative steps to implement the zone and later return to council with detailed budgets and proposed board appointments.