Title
A. Conduct a public hearing under Chapter 311 of the Texas Tax Code to consider approving an amended Project Plan and Reinvestment Zone Financing Plan for Mesquite Rodeo City Reinvestment Zone Number One, City of Mesquite, Texas ("the Zone"), enlarging the boundaries and increasing the geographic area of the Zone to include a tract of land consisting of approximately 28.0016 acres and being generally located at the northeast corner of New Market Road and Rodeo Center Boulevard in the corporate limits of the City of Mesquite, Texas ("the Rodeo City Expansion"); extending the term of the Zone for up to an additional thirty-one years to expire no later than December 31, 2049; increasing the total estimated project costs for the Zone and amending the composition of the board of directors for the Zone.
B. An ordinance approving an amended Project Plan and Reinvestment Zone Financing Plan for Mesquite Rodeo City Reinvestment Zone Number One, City of Mesquite, Texas, enlarging the boundaries and increasing the geographic area of the Zone to include property generally described in Item A above, extending the term of the Zone, increasing the total estimated project costs for the Zone and amending the composition of the board of directors for the Zone.
Body
At their December 3, 2018, meeting, the Mesquite Rodeo City Tax Increment Finance Reinvestment Zone Number One ("Zone") Board of Directors adopted an Amended Project and Financing Plan for the Zone to enlarge the contiguous boundaries of the Zone south to include a tract that includes Fire Station No. 4 and a 25-acre tract of vacant property abutting New Market Road.
The amended Project and Financing Plan also extends the term of the Zone an additional 31 years to expire no later than December 31, 2049. The Zone was originally set to expire on December 31, 2018, and the extension is required in order to dedicate a portion of Zone increment revenue to reduce proposed assessments related to the Iron Horse Vill...
Click here for full text