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TIRZ No. 1 board approves funding approach for Parks Church remediation project
Summary
The Tax Increment Reinvestment Zone No. 1 board voted to proceed with funding a previously approved environmental remediation project at Parks Church (129–131 S. Tennessee St.), retaining a $279,000 balance in the vacant/underutilized category and authorizing staff action to finalize the ordinance recommendation.
The Tax Increment Reinvestment Zone No. 1 board on June 2 approved a funding approach for a Parks Church environmental remediation project at 129–131 South Tennessee Street that staff had previously recommended on May 5.
Lucas Raley, director of planning, told the board the project had been approved on May 5 for “453,439 dollars and 57¢ for Parks Church for environmental remediation,” and presented two options for covering the cost: a full budget amendment drawing the entire amount from the TIRZ fund balance, or depleting the vacant and underutilized project category and funding any remaining balance from the TIRZ general balance. Raley said one option would require pausing new applications to the vacant/underutilized category until Oct. 1, 2026.
Board members discussed the tradeoffs, noting the vacant/underutilized category has seen significant spending in recent years. Staff reported expenditures in the category of about $600,000 in 2024 and just under $400,000 in 2025, with the zone having awarded just over $1,000,000 in that category to date. Raley explained that some prior full projects had been removed from the category by budget amendments, which affects the available balance.
After discussion, a board member moved to fund the Parks Church project from the vacant and underutilized category while retaining a $279,000 balance for other projects; the motion received a second and passed after board members voted (multiple ayes and one recorded nay). The board directed staff to prepare the recommended ordinance for council consideration.
