City of Pearland, TX Home Transparency Agendas Elections Translate Most Popular GOVERNMENT DEPARTMENTS RESIDENTS BUSINESS I WANT TO... Conflicts Disclosure Statement Administration + City Council + Agendas + Boards and Commissions - Animal Shelter Advisory Committee Charter Review Commission Civil Service Commission Construction Board of Adjustments and Appeals Convention & Visitors Bureau Advisory Board Development Authority of Pearland + Library Board + Parks & Recreation Board Pearland Economic Development Corporation Planning and Zoning Commission + Tax Increment Reinvestment Zone Number 2 (TIRZ) Zoning Board of Adjustments Mayor Emeritus Tom Reid Government » Boards and Commissions TAX INCREMENT REINVESTMENT ZONE NUMBER 2 (TIRZ) Print Feedback Share & Bookmark Press Enter to show all options, press Tab go to next option Font Size: + - A Tax Increment Reinvestment Zone (TIRZ) is an economic development tool available to cities under Texas Law. A TIRZ is a specific geographic area defined by the City Council. For the duration of the TIRZ (no more that 30 years), the property taxes from the increased value due to development within the TIRZ is “captured” and placed in a separate fund administered by the City. The captured tax proceeds can only be used to pay for eligible public improvements within the zone such as streets, drainage, utilities, and public facilities. The underlying concept is that the new taxes from new development are reinvested within the zone that created the additional value. Generally, the developer is required to advance fund the eligible improvements and is only reimbursed with TIRZ proceeds when/if the captured tax proceeds are sufficient. Property owners within the zone continue to pay the full taxes that are due, so a TIRZ does not create a “tax abatement” situation. The taxes on the “base value” (the property value within the zone before development) continue to flow to the City’s general fund for use city-wide. TIRZ #2 includes approximately 3,467 acres in the Shadow Creek Ranch development. The TIRZ proceeds are being used to fund the major infrastructure needed to bring this completely vacant property into a developable state. Projected TIRZ projects include extension of Kirby Drive and Hampton Drive (formerly County Road 48), major water and sewer trunk lines, wastewater treatment plant capacity, drainage and detention facilities, recreational areas and trail system, a police/fire substation, and a public library. Improvements within the individual neighborhoods that will comprise Shadow Creek Ranch are not eligible for TIRZ financing under the terms of the TIRZ plan for this development. The TIRZ #2 Board makes recommendations to the City Council regarding administration of the TIRZ plan and use of the TIRZ proceeds. The Board consists of nine (9) members. Under State Law, appointments are made by the City Council, but members must meet certain eligibility requirements. The Board meets on an as-needed basis. Time Commitment: Meets as needed about 4 times a year for approximately 1-2 hours. Position Term: 2 years Tax Increment Reinvestment Zone Number 2 (TIRZ) Roster Agendas Ordinance No. 1562 Financing Plan for Reinvestment Zone Number Two (Amendment No. 4) Ordinance No. 509-268 Shadow Creek Ranch Planned Unit Development Ordinance Resolution No. R1999-66 Shadow Creek Ranch Development Agreement Ordinance No. 891 Creation of Reinvestment Zone Number Two Ordinance No. 918 Project Plan and Reinvestment Zone Financing Plan Interlocal Agreements AISD Interlocal Agreement Brazoria County Interlocal Agreement Fort Bend County Interlocal Agreement For meeting or additional information, please contact the liaison: Kristen Woolley, Deputy Finance Director at 281.652.1698. 3519 Liberty Dr. Pearland, TX 77581 City Hall / Main Line 281.652.1600 Careers Directory E-Alerts Pearnet Service Request Permits Water Billing