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Council adopts annual report for Tax Increment Reinvestment Zone No. 1; fund balance reported at $255,795.31
Summary
The council unanimously approved the annual TIRZ No. 1 (downtown) report on Jan. 28, 2026; staff said the fund held $255,795.31 as of Sept. 30, there was one expenditure of $20,000 in the year, and the TIRZ has pledged $100,000 to a 1st Street project; staff reported total tax increments received since Jan. 1, 2019 as $2,241,946.63.
The Perris City Council approved a resolution adopting the annual report for Tax Increment Reinvestment Zone (TIRZ) No. 1, covering the downtown TIRZ, at its Jan. 28 meeting.
Staff told council the report covers activity through fiscal year end Sept. 30, 2025. Key figures presented were $255,795.31 in fund revenue as of Sept. 30, a single recorded expenditure of $20,000 for the year, and a pledge of $100,000 toward the 1st Street project. Staff stated total tax increments received since Jan. 1, 2019 as $2,241,946.63; staff noted account balances differ from totals received because of interest earnings. The TIRZ board had approved the report earlier in the month and staff recommended that the council adopt the report and transmit it electronically to the comptroller’s office.
A motion to approve the resolution carried unanimously, 6-0.
