Item 20: Downtown TIRZ - Project Plan and Tax Increment Participation Amendments

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COSM_Admin

Administrator
Staff member
Receive a Staff Presentation and hold a Public Hearing to receive comments for or against Ordinance 2021-37, amending the project plan for Tax Increment Reinvestment Zone No. 5, also known as the “Downtown TIRZ,” approving an amendment to the Tax Increment Participation Interlocal Agreement with Hays County to extend the City’s and the County’s reduced contribution rate of the tax increment deposited into the Tax Increment Fund from 70 percent to 25 percent for one additional year; authorizing the City Manager or his designee to execute the amendment on behalf of the City; including procedural provisions; and declaring an effective date; and consider approval of Ordinance 2021-37, on the first of two readings.
 
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