Title
An ordinance approving a Fa?ade Improvement Program (the "DM Fa?ade Improvement Program") to make grants from the Tax Increment Fund of the Towne Centre Reinvestment Zone Number Two, City of Mesquite, Texas, (the "Zone") to encourage the rehabilitation, enhancement, restoration and preservation of building facades located within a designated portion of the Downtown area of the City of Mesquite, Texas ("City"), approving and conferring the powers of a municipality under Chapter 380 of the Texas Local Government Code for the Zone, only as necessary or convenient to implement the DM Fa?ade Improvement Program as an economic development incentive under the project and financing plan for the Zone, approving an amount not to exceed $80,000.00 for grants under the DM Fa?ade Improvement Program for the remainder of the City's Fiscal Year 2018-19, approving the amount not to exceed $80,000.00 for grants under the DM Fa?ade Improvement Program for each Fiscal Year of the City thereafter and containing other provisions related thereto.
Body
As part of the overall Downtown Redevelopment plan, the Towne Centre Reinvestment Zone Number Two, City of Mesquite, Texas, (Zone) was expanded in Fiscal Year 2017-18 by the Zone's Board of Directors to include the Downtown redevelopment area in order to fund projects which stimulate new private investment and building reuse. On May 6, 2019, the Zone's Board of Directors approved the extension of the term of the Zone 20 years to December 31, 2039, in order to fund long-term improvements to the Downtown Mesquite area.
At the May 6, 2019, Board meeting, the Zone's Board of Directors also recommended the creation of a Fa?ade Improvement Program which includes the terms and conditions, criteria, ability to utilize the powers under a Chapter 380 agreement to implement the program and annual funding allocation allowed for Fa?ade Improvement Program projects not to exceed $80.000.00 per year.
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