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Albany developers present 247‑acre TIRZ plan to Young County court; county to consider participation at next meeting
Summary
Attorneys and volunteers presented a property‑owner petition to create a 45‑year tax increment reinvestment zone covering about 247 acres near Albany that would fund infrastructure, housing affordability programs and industrial expansion; the presentation was informational and the court will consider participation at its next meeting.
Attorneys and developers presented a petition asking Young County to participate alongside the City of Albany in a property‑owner initiated tax increment reinvestment zone, or TIRZ, covering roughly 247 acres.
At a March meeting of the Young County Commissioners Court, attorney David Earl described the TIRZ tool under Chapter 311 of the Texas statutes and said the proposal would capture only tax revenue generated by new development over a 45‑year term to pay for infrastructure, housing affordability programs and industrial expansion. "This tool allows taxes created by new development in a specified areato be set aside to bring about economic development and pay for infrastructure," Earl said.
David Pratt, who…
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