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Council approves citizen-board language for Platinum Ranch TIRZ (TIRS 3)
Summary
After a presentation from P3 Works, council voted to amend the ordinance creating TIRS 3 (Platinum Ranch) to require appointment of a resident citizen board for the TIRS once residents exist; the ordinance (2025-12-18-02) was adopted with that amendment.
Council opened a public hearing on creating Tax Increment Reinvestment Zone 3 for the Platinum Ranch development. Jordan Sawyer (S10) described the plan: roughly 33.37% participation over a multi-decade term with conservative 2% growth assumptions, covering about 2,000 acres and projecting substantial retained revenue for the city under the feasibility study. Discussion among council members centered on governance: several members objected to the initial language appointing the city council as the TIRS board and moved to amend the ordinance to require appointing a citizen board comprised of residents of the TIRS once residents exist.
Councilmember S7 made the amendment motion and it was seconded; council voted to approve the amendment and then adopted the main ordinance with the new language. The city clerk recorded Ordinance No. 2025-12-18-02 on the record. Council asked staff to ensure future TIRS documents align with the amendment and to bring back any related contracts for review.
