Title
An ordinance approving an amended Project and Financing Plan for the Skyline Tax Increment Finance Reinvestment Zone No. Seven, City of Mesquite, Texas.
Body
On May 21, 2018, the Skyline Tax Increment Finance Reinvestment Zone No. Seven Board of Directors adopted an amended Project Plan and Reinvestment Zone Financing Plan for the Skyline Tax Increment Finance Reinvestment Zone No. Seven.
Specific changes to the Project Plan and Reinvestment Zone Financing Plan were outlined during the May 7, 2018, Executive Session, but the term, boundaries and percentage of tax increment remain the same. The project costs and the maximum amount to be reimbursed from the TIRZ is reduced from $19,979,396 to $15,000,000.
Amendments to a Tax Increment Finance Reinvestment Zone (TIRZ) Project and Financing Plan can only take effect upon approval by the City Council.
Recommended/Desired Action
Staff recommends approval of the ordinance.
Attachment(s)
Ordinance
Drafter
Ted Chinn
Head of Department
David Witcher