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Trophy Club EDC reviews TIRZ fund, incentive options; staff to return with data
Summary
EDC staff told the board the town—s TIRZ (TERS) has about $70,000 available after final developer payments in December 2024 and the EDC has $150,000 budgeted this year to design incentive programs; staff will gather sales-tax and eligibility data and present options in December and January.
At the Nov. 20 meeting of the Town of Trophy Club Economic Development Corporation, staff briefed board members on the town—s tax increment reinvestment zone (TIRZ/TERS) and options for offering state-compliant incentives to commercial properties.
Speaker 1 explained that a TIRZ captures the increment in property taxes above an established base to pay for public improvements and incentives in the zone. The TIRZ for Trophy Club was created following a 2007 resolution and a 2013 ordinance; the ordinance—s plan has an expiration date of Dec. 31, 2034 unless the town council terminates it earlier. Staff also told the board that final payments on earlier developer agreements were completed in December 2024 and "we still have…
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