Title
Ordinance - Public Hearing and First and Final Reading on an Ordinance of the City Council of the City of Mansfield, Texas, Amending the Boundaries of Tax Increment Reinvestment Zone Number Four, City of Mansfield, Texas; Approving a Final Project and Finance Plan for Tax Increment Reinvestment Zone Number Four, City of Mansfield, Texas; Making Certain Findings; Providing a Severability Clause; and Providing for an Immediate Effective Date
Requested Action
To Approve the Ordinance
Recommendation
To Approve the Ordinance
Description/History
This ordinance officially designates the ultimate boundaries of TIRZ #4, as well as the final project and finance plan. Now that private development and infrastructure are more formally identified since the creation of the preliminary plan in 2022, it is time to finalize these plans. It should be noted, however, that the finance and project plans may be amended in the future if required, but staff believes these projects best represent the plan as of today.
Justification
Adopting a final finance and project plan is required by state law. The TIRZ #4 Board will have met prior to the Council meeting to consider the plan.
Funding Source
N/A
Prepared By
Jason Moore, Executive Director Economic Development