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Thread: Tax Increment Reinvestment Zones (TIRZ)

  1. #1

    Tax Increment Reinvestment Zones (TIRZ)

    Does anyone have experience with TIRZ's? I am the case manager of a proposed development that is going to go this route. This is the first development that has opted into our newly adopted SmartCode. It is roughly 71 acres on an undeveloped greenfield site but within the city limits, and will incorporate every transect zone except T2. We had a design workshop with the developer and his architect and it's really going to be a great project. They are in the process of re-zoning right now.

    I'm somewhat familiar with TIFs, but I get the impression that TIRZs are a different story. Any information about the TIRZ process or any advice would be greatly appreciated!

  2. #2
    moderator in moderation Suburb Repairman's avatar
    Jun 2003
    at the neighboring pub
    email San Marcos about the one they did for Blanco Vista. It was an inappropriate location for a TIRZ, IMHO, but the structure of it is really good. Basically, the developer assumes the risk and issues bonds, rather than the city, with the increment going to repay those bonds. It keeps developers from using overly aggressive growth estimates for greenfield projects.

    "Oh, that is all well and good, but, voice or no voice, the people can always be brought to the bidding of the leaders. That is easy. All you have to do is tell them they are being attacked and denounce the pacifists for lack of patriotism and exposing the country to danger. It works the same way in any country."

    - Herman Göring at the Nuremburg trials (thoughts on democracy)

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