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Weslaco commission approves first reading of citywide TIRZ ordinance, pledges 50% of M&O increment
Summary
On Oct. 21 the Weslaco City Commission gave first reading to Ordinance No. 2025-29 to create a citywide Tax Increment Reinvestment Zone (TIRZ) No. 1, set a nine-member board and pledge 50% of the city's maintenance & operations (M&O) tax increment to the fund with a 25-year termination period; legal counsel recommended the revision and the motion passed on first reading.
The Weslaco City Commission on Oct. 21 approved the first reading of Ordinance No. 2025-29 to designate certain noncontiguous areas as Tax Increment Reinvestment Zone No. 1 and create a nine-member board to administer a tax increment fund.
Legal counsel advised the commission to approve the ordinance “subject to revisions with respect to the 50% of the city's tax increment to read 50%…
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