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Tuesday , December 18 2018
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Home | Tag Archives: TIRZ

Tag Archives: TIRZ

City Proposes New TIRZ for Northeast El Paso

On Wednesday, officials with the City of El Paso announced a new proposal for a Tax Increment Reinvestment Zone (TIRZ) for Northeast El Paso.

Via a news release, city officials said the proposal to create Tax Increment Reinvestment Zone 13 was presented on Wednesday to the City’s Open Space Advisory Board.

Located near the North Hills area, officials said the proposed TIRZ 13 would fund public improvements that would “alleviate safety, access and connectivity issues and spur balanced, contiguous development.”

This project would connect Angora Loop Street North from Dyer Street to Angora Loop Street South.

“The enhanced connectivity would also spur economic development, which is needed to help provide relief to residential taxpayers,” officials stated.

According to city officials, the proposed Angora Loop extension would:

    • Provide access for residents
    • Provide additional access for school buses
    • Provide better access for First/Emergency Responders
    • Increase ridership on Sun Metro
    • Reduce wait times for public transportation
    • Spur economic development in the Northeast
    • Allow businesses on McCombs and Dyer to grow thereby help alleviating the tax burden on residential properties owner

A TIRZ allows the City to fund public improvements with incremental tax revenues collected within the zone.

The City’s Economic and International Development Department will present the TIRZ 13 proposal to City Council at a later date.

 

City Schedules Community Meetings About Proposed TIRZ Projects

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.

City Looking to Expand Medical Center of the Americas TIRZ

On Tuesday, City Council authorized staff to explore expanding the Tax Increment Reinvestment Zone #6 (TIRZ 6) in Central El Paso to include taxable properties.

“This is going to be a game changer for the MCA area. Currently, all properties within this TIRZ are tax exempt because they belong to publicly owned institutions. Expanding the boundaries will allow us to capture incremental property taxes from parcels that do not qualify for tax exemptions,” said Jessica Herrera, City of El Paso Economic and International Development Department Director.

The City’s proposal aims at growing the TIRZ to approximately 400 acres from just under 70 acres. The City created the zone in 2013 to help encourage development for the Medical Center of the Americas (MCA) campus.

The TIRZ revenue stream will be used to fund public improvements within the zone’s boundaries.

Some of the possible improvements include; entry monuments as part of a Sun City Lights program expansion, wayfinding, additional street lighting and landscaping, bridge and intersection improvements, pedestrian and ADA enhancements, and bike facilities.

The Medical Center of the Americas (MCA) Foundation, a 501(c) (3) non-profit organization, and its affiliated companies are focused on creating a world-class medical center within the MCA Campus in south central El Paso,along with a regional biomedical industry that will foster and accelerate innovation, creating new employment opportunities and meeting healthcare needs for the Paso del Norte region.

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