AGENDA CAPTION:
Title
Hold a Public Hearing to receive comments for or against Ordinance 2025-49, amending the project plan and reinvestment zone financing plan for the Tax Increment Reinvestment Zone No. 5, Downtown TIRZ, to increase funding in support of an annual downtown operations and project plan; authorizing the City Manager, or designee, to execute the amendment on behalf of the City; including procedural provisions; and declaring an effective date; and consider approval of Ordinance 2025-49 on the first of two readings.
Body
Meeting date: December 2, 2025
Department: Finance
Amount & Source of Funding
Funds Required: $175,000.00
Account Number: Multiple
Funds Available: Yes, budget contingent on corresponding budget amendment.
Account Name: Multiple
Fiscal Note:
Prior Council Action: November 15, 2011 - approved a preliminary project plan and reinvestment zone financing plan. December 14, 2011 - creation of Reinvestment Zone for Tax Increment Financing purposes. June 18, 2020 - adopted amended project plan and reinvestment zone financing plan. June 23, 2022 - adopted amended project plan and reinvestment zone financing plan. June 03, 2025 - adopted amended project plan and reinvestment zone financing plan.
City Council Strategic Initiative: [Please select from the dropdown menu below]
Economic Vitality
Mobility & Connectivity
Choose an item.
Comprehensive Plan Element (s): [Please select the Plan element(s) and Goal # from dropdown menu below]
? Economic Development - Choose an item.
? Environment & Resource Protection - Choose an item.
? Land Use - Choose an item.
? Neighborhoods & Housing - Choose an item.
? Parks, Public Spaces & Facilities - Choose an item.
? Transportation - Choose an item.
? Core Services
? Not Applicable
Master Plan: [Please select the corresponding Master Plan from the dropdown menu below (if applicable)]
Choose an item.
Background Information:
TIRZ #5 was created in 2011, it consists of approximately 244 a...
Click here for full text