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Council directs staff to prepare SH‑130 TIRZ boundary for infrastructure funding
Summary
Council voted to direct staff to prepare documents creating a tax increment reinvestment zone (TIRZ) along the SH‑130 corridor to capture future tax increment for frontage roads, wastewater and other infrastructure; staff will return with financing plans and a formal boundary map.
A motion to direct city staff to prepare documents establishing a tax increment reinvestment zone (TIRZ) covering the SH‑130 corridor passed during the council work session. Committee member S2 moved that staff bring back “the documents needed to create a ... boundary zone that encompasses 130 west to the edge of our ETJ” and the council recorded affirmative votes.
The measure instructs staff to prepare boundary exhibits and the project financing plan but does not set the final capture percentage or term. S3, a presenter, summarized legal and financing options, saying bonds can be used to fund improvements or, alternatively, "reimbursement agreements with a developer" can be structured so developers are repaid from the increment. Council members discussed including parcels in the ETJ, Star Ranch and several undeveloped tracts; S2 said the intent is to set a base assessed value now so future increases can fund infrastructure rather than raising tax rates.
The motion was approved by recorded 'Aye' votes during the session; the mover is S2 and no recorded second appears in the transcript. Staff will return with the formal boundary documentation and a financing plan for council consideration. The council recessed and planned follow-up at a later meeting.
