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Council approves project-and-finance plan updates for Reinvestment Zone No. 2
Summary
The council adopted Ordinance 02025-52, approving a project-and-finance plan amendment for Reinvestment Zone No. 2 (downtown/center‑city area) that adds roughly $175 million in development value and lists prioritized eligible public projects.
Council members approved Ordinance 02025-52 after a staff presentation and consultant remarks explaining the project‑and‑finance updates for TIRZ No. 2, which covers Weatherford’s center‑city area. Jordan Sawyer said the amendment updates the list of eligible projects and does not change the TIRZ boundary.
Sawyer summarized the financial picture for the amendment: "Added development value about a $175,000,000. Generally, dollars 42,000,000 of that city is retaining 0.5," and he listed estimated public‑improvement costs at about $14,100,000. The council opened, and then closed, the public hearing with no speakers and then approved the ordinance following staff recommendation and board referral.
Council discussion reiterated that project lists are an eligibility tool and that each listed project would still require separate council approval and any necessary procurement or budget action before implementation.
