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Council creates East Gateway Tax Increment Reinvestment Zone #2 (Ordinance No. 7627)
A TIRZ #2 developer agreement prepared by City staff in 2024 recites that on November 8, 2016 the City Council approved Ordinance No. 7627 establishing East Gateway Tax Increment Reinvestment Zone Number Two under Chapter 311 of the Tax Code. The zone's later project and financing plan lists the zone as created in fiscal 2016/2017 with a 2016 base taxable value of $39,981,487.[1][2]
What the sources say
- ✓ Verified
The draft TIRZ #2 developer agreement in the May 28, 2024 council packet recites that "on November 8, 2016, the City Council approved Ordinance No. 7627 establishing East Gateway Tax Increment Reinvestment Zone Number Two." The minutes of that meeting are not in the local minutes cache, which begins in May 2019. [1]
- ✓ Verified
The East Gateway plan lists the zone as created in fiscal 2016/2017 with an original base value of $39,981,487 (2016) and a new base of $41,431,055 after the 2020 expansion. [2]
- Original base
- $39,981,487
- New base
- $41,431,055
