Agenda

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AI- 51249

Commissioners Court

Meeting Date:	11/15/2021
City of Sachse Tax Increment Reinvestment Zone (TIRZ) # 3
Submitted By:	Monika Arris
Department:	Budget/Finance
Request Type:	GENERAL

Information

Department Action

Public Hearing, discussion and any action regarding request for County participation in Reinvestment Zone 3 for Tax Increment Financing Pursuant to the Tax Increment Financing Act, Tex. Tax Code Ann. Ch. 311 in Sachse, TX. Request to enter into an Inter-local Cooperation Agreement Participation in Sachse TIRZ Zone 3.

Purchasing Department Action

No action by Purchasing.

HR and/or IT Action

Budget Department Action

Request from City of Sachse to participate in TIRZ #3 with Collin County to contribute 50% of the tax increment for a period of 30 years with a maximum of $9,977,447. City of Sachse Council approved creation of TIRZ #3 in October 2021 with a contribution of 50% of the city's tax increment for 30 years ending on December 31, 2051. Collin County's current tax rate is $0.168087.

Auditor's Office Action

No action by Auditor.

Commissioners Court

Public Hearing - Participation in the City of Sachse Tax Increment Reinvestment Zone (TIRZ) No. 3, Budget.

Budget Information

Information about available funds

Budgeted:

Funds Available:

Adjustment:

Amount Available:

Unbudgeted:

Funds NOT Available:

Amendment:

Account Code(s) for Available Funds
1:

Fund Transfers

Remarks:

Attachments
Court Order No. 2021-1177-11-15
Presentation
Memo
ILA
Request
Preliminary Plan
Sachse Ordinance