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Liberty Hill DRC votes to recommend smaller TIRS boundary while keeping 50% participation
Summary
The Downtown Revitalization Committee voted to forward a reduced Tax Increment Reinvestment (TIRS) boundary to city council while keeping the current 50% participation rate, after hearing consultants' legal and revenue analysis and projected 10-year revenue scenarios.
The Liberty Hill Downtown Revitalization Committee on Monday voted to recommend that the city council consider a reduced Tax Increment Reinvestment (TIRS) boundary while maintaining the city's current 50% participation rate.
Consultant Casey Sklar of P3 Works told the committee the TIRS was created in 2023 and carries a 30-year term and that state law caps residential use inside a TIRS at 30% based on current land use data rather than zoning. Sklar said two of three boundary alternatives shown to the committee in February failed the statutory residential-percentage test; the option the committee approved to forward was the smaller map that met the test at roughly 24.5%…
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