TIRZ Expansion Near Timbergrove Manor Gets Approval
Originally reported by Emma Whalen, Community Impact News
In early December 2020, the Houston City Council approved a 593- acre expansion of the City Park Tax Increment Reinvestment Zone (TIRZ), an area adjacent to Timbergrove Manor more commonly known as the warehouse district. The particular slice of the northwest inner loop has undergone significant redevelopment in recent years—and will continue to over the next decade—increasing both residential and commercial development in the area.
The TIRZ, which uses property tax revenue growth within its boundaries, will bring in approximately $16 million to be used for redevelopment and improvement projects within the community, such as “alleviat[ing] unsafe streets, deteriorated site conditions, and obsolete public facilities, and will encourage the sound growth of residential, retail, and commercial development,” per the annexation documents. Residents are also advocating that funds be put toward flood mitigation and drainage projects. The expansion also extended the lifespan of the TIRZ from 2028 to 2050.