STRATEGIC PRIORITY: Growing
AGENDA DATE: April 23, 2025
COUNCIL DISTRICT(S): 2, 14
DEPARTMENT: Office of Economic Development
EXECUTIVE: Robin Bentley
______________________________________________________________________
SUBJECT
Title
Authorize a public hearing to be held on May 14, 2025 to receive comments on proposed amendments to the Project Plan and Reinvestment Zone Financing Plan ("Plan") for Tax Increment Reinvestment Zone Number Eleven, the Downtown Connection Tax Increment Financing ("TIF") District ("Zone") to: (1) add a provision to the Plan for a directed sale of the current City-owned parcel of land (approximately 1.09 acres) addressed as 660 N. Griffin Street and the current location of Fire Station No. 18 in as-is condition and at fair market value in accordance with Chapter 311 of the Texas Tax Code and Chapter 272 of the Texas Local Government Code; (2) reprogram $6,980,602 in 2006 NPV dollars (approximately $17,561,516 in total dollars) from the Redevelopment of Vacant/Underutilized Downtown Buildings, Underdeveloped Parcels, Surface Parking Lots line item to the Public Safety Building line item in the Downtown Connection Sub-district budget to support the relocation and construction of a new Fire Station No. 18 facility in the Zone; and (3) make corresponding modifications to the Zone's Plan; and, at the close of the public hearing, consider an ordinance amending Ordinance No. 26096, previously approved on August 29, 2005, as amended, to reflect these amendments - Financing: No cost consideration to the City
Body
BACKGROUND
In 2005, the Downtown Connection TIF District ("TIF District" or "Zone") was initiated by property owner petition and, and created by City Council to serve as a long-term funding tool for public capital investment in the core of downtown and to support redevelopment of vacant/historic buildings and, underutilized/-vacant surface parking lots.
On June 22, 2022, City Council approved an amendment of the Zone's Plan by Or...
Click here for full text