The City of El Paso to encourage new development and investment in specific areas of the community is proposing to create two new Tax Increment Reinvestment Zones (TIRZ) and expand the boundaries of an existing zone.
TIRZ is a state program that allows municipalities to use taxes generated from new improvements to finance public improvements within the boundaries of the zone.
All three TIRZ projects proposed by the City’s Economic and International Development Department aim to promote mixed-used development consisting of destination retail and entertainment through public improvements.
TIRZ 10A is located on the far Westside and it would be expanded to include an additional 3,874 acres of land running north along the eastern boundary of Interstate 10 near Paseo del Norte.
The proposed TIRZ #11 would consist of approximately 50 acres in the Northeast and would spur development at the Cohen site.
TIRZ 12 would be located near Transmountain Road on the far Westside and would consisting of about approximately 1,007 acres.
The community meetings to learn about these zones are set for:
- May 31 at 6 p.m. at the Westside Regional Command Center, 4801 Osbourne.
- June 6 at 6 p.m. at the Northeast Regional Command Center, 9600 Dyer St.
- June 7 at 6 p.m. at the Pebble Hills Regional Command Center, 10780 Pebble Hills.
The Office of City Rep. Peter Svarzbein of District 1 is hosting two separate community meetings on the TIRZ projects for West El Paso. The first meeting is set for 1 p.m. on May 25 at Eloise Restaurant, 225 Shadow Mountain.
The second meeting is set for 7 p.m. on May 30 also at Eloise Restaurant, 225 Shadow Mountain.