CORPUS CHRISTI, Texas — The Corpus Christi City Council approved an ordinance establishing Tax Increment Reinvestment Zone Number Seven (TIRZ #7) to encourage development in the city's extraterritorial jurisdiction.
The new zone captures future property tax growth from the designated area and reinvests those funds directly back into infrastructure improvements, including roads and utilities needed to support new development projects.
The council defined the zone's boundaries and established a board of directors to oversee operations. The ordinance also creates subzones within the larger area and sets up a dedicated tax increment fund to manage the captured revenue.
The zone operates outside current city limits but remains under Corpus Christi's influence through extraterritorial jurisdiction. This allows the city to guide development in areas that may eventually be annexed.
Council members included findings justifying the zone's creation and set a termination date for the program. The ordinance took effect immediately upon passage and includes standard legal protections in case any provisions face future challenges.
The new TIRZ appears targeted at the London area, based on recent council discussions about development opportunities in that region.
Tax increment reinvestment zones work by freezing current property values as a baseline. Any tax revenue generated from increased property values above that baseline gets dedicated to improvements within the zone rather than flowing to general city coffers.
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