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January 6, 2013

Council slated to re-appoint two to board

GREENVILLE — The Greenville City Council intends this week to return two members to a panel designed to assist economic development across much of the city.

The Council is scheduled to reappoint Angel Delgado and George Lacy to the Tax Increment Reinvestment Zone (TIRZ) Advisory Board, with the vote included as part of the regular session agenda, starting at 6 p.m. Tuesday in the Municipal Building, 2821 Washington Street. A work session is also set for 5 p.m. Tuesday.

The seven-member TIRZ Board of Directors was created in 2009 to make recommendations to the Council regarding the administration of the TIRZ. Four members were reserved for the city, with the other three positions being reserved for Hunt County, the Greenville Independent School District and the Hunt Memorial Hospital District.

Delgado in Place 2 and Lacy in Place 4 are eligible for reappolntment and both have expressed a desire to return to the board.

Tax increment reinvestment, also known as tax increment financing, uses a portion of the taxes assessed on increased property values to help repay the investment used to install the infrastructure needed in the zone.

The City of Greenville’s TIRZ  No. 1 covers approximately 1,900 acres stretching from the Interstate 30 corridor, then north along Wesley Street into and along either end of downtown.

The TIRZ pays for public infrastructure improvements, such as water and sewer lines and roads, within the area identified for development.

The plan would dedicate $3.8 million toward infrastructure for the proposed Greenville Towne Center project, $7.8 million toward improvements for commercial projects in and around the Monty Stratton Parkway, $9.9 million for city infrastructure in and near the parkway, $6.2 million for improvements to Traders Road and $11.9 million for downtown redevelopment, including street improvements and the establishment of a Dallas Area Rapid Transit (DART) station.

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