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Commission begins TIRZ process for developer-backed 682-home project, first readings approved
Summary
The Weslaco City Commission approved first-reading actions to create or amend tax increment reinvestment zones after a developer pitched a 682-home master-planned community that would fund infrastructure through a TIRZ and add an estimated $405 million to the tax base without raising the tax rate.
The Weslaco City Commission voted Dec. 16 to begin the legal steps for a developer-initiated tax increment reinvestment zone (TIRZ) tied to a proposed master-planned residential community.
Attorney Jeffrey Earl, speaking for the petitioner, described a phased project of about "approximately 682 single family homes" with prices he said would range "from approximately $290,000 to $530,000." Earl…
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