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Liberty Hill DRC hears TIRZ plan that could generate about $30 million for downtown
Summary
Committee members were told a tax increment reinvestment zone (TIRZ) could yield roughly $30 million over 30 years to fund downtown projects; staff and a consultant will present a detailed project plan at the next meeting.
At its Aug. 26 meeting, the Liberty Hill Downtown Revitalization Committee heard a staff update on a proposed tax increment reinvestment zone that officials say would dedicate increment revenue to downtown revitalization.
Mike, a committee presenter, told members the tool would capture 50% of the property-value increase inside the TIRZ boundary for a dedicated revitalization fund. “By the end…
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