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File #: 21-137    Version: 1
Type: New Business Status: Agenda Ready
File created: 3/3/2021 Meeting Body: City Council
On agenda: 3/16/2021 Final action:
Title Search: PUBLIC HEARING: Consider an ordinance approving the creation of a Tax Increment Reinvestment Zone containing approximately 795.19 acres of land generally located along the U.S. Hwy 377 commercial corridor and being wholly located within the corporate city limits of the City of Keller, Texas and a preliminary Reinvestment Zone Financing Plan, as authorized under section 311.003 of the Texas Tax Code.
Attachments: 1. 031621_TIRZ No 2 Creation_Ordinance, 2. Item H-2 Presentation: TIRZ Public Hearing, 3. 031621_TIRZ No 2 Creation_Exhibit A

To:                     Mark R. Hafner, City Manager

From:                     Mary Meier Culver, Acting Economic Development Director

Subject:                     

Title

PUBLIC HEARING: Consider an ordinance approving the creation of a Tax Increment Reinvestment Zone containing approximately 795.19 acres of land generally located along the U.S. Hwy 377 commercial corridor and being wholly located within the corporate city limits of the City of Keller, Texas and a preliminary Reinvestment Zone Financing Plan, as authorized under section 311.003 of the Texas Tax Code.

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This is the second step in the process of creating Tax Increment Reinvestment Zone (TIRZ) #2 along the Hwy. 377 Corridor. A public hearing is required under Section 311.003 of the Texas Tax Code for the creation of the zone and to approve the preliminary plan for the project.

 

Exhibit A, the Preliminary Plan, includes the parcels identification, map of the zone and property, proposed uses of the property, locations of public improvements, estimated project costs and timeline and the full feasibility study of the TIRZ.

 

The creation ordinance includes the designation of the TIRZ #2 Board.