Council creates Weatherford Local Government Corporation to support TIRZ projects
Council voted to create the Weatherford Local Government Corporation No. 1, a city-controlled nonprofit intended to provide financing and development tools for projects in Tax Increment Reinvestment Zone No. 1; staff emphasized the LGC will not remove council authority or bypass transparency requirements.
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The Weatherford City Council voted to establish Weatherford Local Government Corporation No. 1 as a financing and development tool to support projects in Tax Increment Reinvestment Zone (TIRZ) No. 1. Ashley Siler, the city's director of economic development, described the LGC as a nonprofit entity created under state law that would be wholly controlled by the city and governed by a board appointed by council.
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