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Lewisville delays final action on Reinvestment Zone No. 4 to Dec. 15
Summary
Council opened the public hearing for Reinvestment Zone (TIRZ) No.4 but voted 5–0 to continue the hearing to Dec. 15 so the TIRZ board can brief council; staff noted a corrected contingency calculation and said revised finance documents will be provided.
The Lewisville City Council opened a public hearing Dec. 1 on proposed amendments to Reinvestment Zone (TIRZ) No.4, including an expansion of zone boundaries into the Lake Park area and an increase in project costs, but voted unanimously to continue final consideration to the Dec. 15 council meeting.
City staff told council that the TIRZ board meeting that advises council was moved to the next meeting, so staff recommended tabling the ordinance until Dec. 15 to provide a full briefing and revised documents. Staff also said they corrected a typo in the contingency calculation: the contingency percentage had been based on a project total that combined infrastructure and private costs, but it should be calculated only on infrastructure costs; that change lowers the contingency figure.
No public comments were submitted on the proposal that evening. Council member Kelly moved to continue the hearing and Council member Green seconded; the motion passed 5–0.
Staff committed to send revised versions of the final project and finance plan for Reinvestment Zone No.4 before the Dec. 15 meeting so council and the public can review the corrected contingency and other finance details.
