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County hears pitch for 1,275-acre tax-increment zone; officials to return documents
Summary
An ALME Economic Development official presented a proposed 1,275-acre tax increment reinvestment zone (TIRZ) shared with the city; commissioners discussed participation rates, representation on the TIRZ board and potential infrastructure projects and asked staff to review documents to return next week.
Tom Parker, representing the ALME Economic Development Corporation, presented a proposed tax increment reinvestment zone (TIRZ) covering roughly 1,275 acres that would pool incremental tax revenue to pay for infrastructure within the footprint and spur redevelopment.
Parker explained the mechanism: taxing entities in the footprint would agree to reallocate the increase in property-tax…
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