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Council expands TIRZ No. 4 and adopts finance plan tied to proposed stadium and development
Summary
Council approved an ordinance expanding the Tax Increment Reinvestment Zone (TIRZ) No. 4 boundary and adopting a finance plan that staff projects could enable nearly $4 billion in development over 30–40 years and generate hundreds of millions in captured and retained revenue for the city, counties and Mansfield ISD.
The Mansfield City Council on Dec. 9 voted to amend the boundaries and adopt a final plan and finance plan for Tax Increment Reinvestment Zone No. 4 (TIRZ/TIRS 4). Staff described the expansion as aligning the district with city limits on the south and capturing development opportunities north of the railroad toward National Parkway.
Jason Moore, presenting the item, said the updated plan anticipates projects and associated infrastructure that staff estimates could support roughly $4 billion in taxable value over 30–40…
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