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Council adopts ordinance creating Taylor Ranch TIRS (TIRS 4)
Summary
Following a P3 Works presentation, council voted to adopt Ordinance No. 2025-12-18-03 creating TIRS 4 for Taylor Ranch with a 33.37% participation rate and a 40-year term; staff projected ~$320 million in new value under conservative assumptions.
Jordan Sawyer (S10) presented the proposed Tax Increment Reinvestment Zone 4 covering Taylor Ranch, roughly 500 acres inside city limits. He summarized the participation rate (33.37%), a 40-year term and conservative feasibility assumptions that projected roughly $320,000,000 in new value and about $31,000,000 in retained revenue to the city under the model. Council members asked clarifying questions; no residents spoke against the proposal during the hearing.
After discussion council moved, seconded and adopted the ordinance (recorded as Ordinance No. 2025-12-18-03). Council directed staff to file the ordinance and proceed with TIRS implementation steps consistent with the approved plan.
