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McLennan County signals intent to participate in City of West Spring Street TIRZ at 75% capture
Summary
The County voted unanimously to give notice of intent to participate in the City of West Spring Street Tax Increment Reinvestment Zone and indicated willingness to participate at 75% of captured tax increment; the county will negotiate a participation agreement with the city.
McLennan County Commissioners on July 14 approved an order giving notice of intent to participate in the City of West's Spring Street Tax Increment Reinvestment Zone and indicated participation at the level of 75% of captured tax increment.
The order, adopted unanimously at the special meeting, states the commissioners find the project will increase property values and encourage development within the zone and that participation at the 75% level is in the county's interest. The county directed staff to negotiate a participation agreement with the City of West on terms acceptable to the county.
