TERS board reviews program rules, eligible projects and exception policy
City planning staff summarized the Tax Increment Reinvestment Zone No. 1 (TERS) program, its eligible project types and funding rules — including typical caps and the board's authority to grant meritorious exceptions up to suggested limits.
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Cassie Baumgartner, planning staff, opened the meeting with an overview of the Tax Increment Reinvestment Zone No. 1 program, saying it was “established in 2010” and covers 947 acres centered on McKinney’s historic town center and State Highway 5. Baumgartner described the program’s purpose as creating a dedicated funding bucket to support investment, redevelopment and district enhancements within the TERS area.
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