Posted on
Thursday, June 12, 2008
Thursday, June 12, 2008
Mayor Bass Unanimously Named To Tax Increment Reinvestment Zone Board
By CINDY MALLETTE
Staff Writer
Tyler City Council members appointed Mayor Barbara Bass to the new Tax Increment Reinvestment Zone No. 2 board on Wednesday before recessing for a brief period so the TIRZ board could approve a preliminary projects plan.
Staff Writer
Tyler City Council members appointed Mayor Barbara Bass to the new Tax Increment Reinvestment Zone No. 2 board on Wednesday before recessing for a brief period so the TIRZ board could approve a preliminary projects plan.
The TIRZ board is made up of the City Council and one representative from each taxing entity that takes part in the TIRZ. Smith County Commissioner JoAnn Hampton represents Smith County. Clint Roxburgh represents Tyler Junior College.
Under the TIRZ, property taxes in the district — bounded by Beckham Avenue on the east, Gentry Parkway on the north, Palace Avenue on the west and Front Street on the south — will be frozen at the current level. As property values in the district increase, the additional tax revenue generated will go into a reinvestment fund instead of going to the city, Smith County and Tyler Junior College.
The City Council took its recess after unanimously naming Ms. Bass to the TIRZ board. Roxburgh and Ms. Hampton took empty seats at the council dais and the TIRZ board convened to discuss two items of business. First, they named Roxburgh as the board’s vice chair. Then, they heard from City Manager-designate Mark McDaniel about how the city would like to designate funds raised during the 30-year life of the TIRZ.
According to McDaniel, the city will participate in the TIRZ for the entire 30 years, while TJC and Smith County have agreed to a five-year term, with the option to continue participation after the term ends. He said the TIRZ is expected to capture $32.78 million within the next 30 years in additional tax revenue, based on today’s current tax rates and growth level. The money will be used to revitalize downtown Tyler.
“It’s going to be very, very incremental,” McDaniel said. “There’s not going to be a whole lot of money coming in until we get some investments going.”
Ms. Bass described the proposal for how the money will be invested in the downtown area as general and subject to change.
“These are big-picture ideas of what may happen in the zone in the future,” she said.
After TIRZ board members approved the preliminary project plan, they closed their meeting and the council re-convened and gave final approval of the plan. Three council members — Ralph Caraway, Charles Alworth and Steve Smith — were on vacation Wednesday and did not attend the City Council meeting. The remaining members approved all other items on the meeting agenda, including:

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