SUBJECT:
Consideration and Action regarding Resolution No. 2021-25, Setting a Public Hearing under Section 311.003 of the Texas Tax Code for the Creation of a Tax Increment Reinvestment Zone containing approximately 295.44 acres of Noncontiguous Land generally located north of Bailey Boswell Road, North of McLeroy Boulevard and West of Saginaw Boulevard, and being Wholly located within the Corporate Limits of the City of Saginaw, Texas; Authorizing the Issuance of Notice by the City Secretary of the City of Saginaw, Texas, regarding the Public Hearing; and Directing the City of Saginaw, Texas to prepare a Preliminary Reinvestment Zone Financing Plan
BACKGROUND/DISCUSSION:
Resolution No. 2021-25 calls a public hearing on November 12, 2021 for the creation of a Tax Increment Reinvestment containing 295.44 acres of noncontiguous land generally located north of Bailey Boswell Rd., North of McLeroy Blvd., and West of Saginaw Blvd.
FINANCIAL IMPACT:
N/A The purpose of this item is only to call the public hearing on November 2,. 2021.
RECOMMENDATION:
Staff recommends approval. |