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Paris Council creates TIRZ No. 2 to preserve base value for Forest Brook Boulevard project
Summary
The council voted 5–0 to create Tax Increment Reinvestment Zone No. 2 to lock in base value for property in the Forest Brook subdivision so the developer can preserve tax increment for building Forest Brook Boulevard; staff cautioned that county participation and sales‑tax increment assumptions remain unresolved.
The Paris City Council voted unanimously Dec. 8 to create Tax Increment Reinvestment Zone No. 2, an action staff said is intended to preserve the developer’s base property value ahead of the new year so potential tax increment can fund construction of Forest Brook Boulevard.
Miss Harris explained the developer has already invested infrastructure in the Forest Brook subdivision and wants the city to set the TIRZ base value as of Jan. 1, 2025; if the council delayed action until 2026 the base value would instead be measured at that later date, reducing potential…
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