Agenda

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AI- 48409

Commissioners Court

Meeting Date:	06/22/2020
Plano TIRZ #4
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 4 for Tax Increment Financing Pursuant to the Tax Increment Financing Act, Tex. Tax Code Ann. Ch. 311 in Plano, TX. Request to enter into an Inter-local Cooperation Agreement Participation in Plano TIF Zone 4.

Purchasing Department Action

No action by Purchasing.

HR and/or IT Action

Budget Department Action

Request from City of Plano to participate in TIRZ #4 with Collin County to contribute 50% of the tax increment for a period of 36 years with a maximum reimbursement of $30 million. City of Plano Council approved creation of TIRZ #4 in January 2020 with a contribution of 75% of the city's tax increment for 36 years ending on December 31, 2056. Collin County's current tax rate is $0.174951.

Auditor's Office Action

No action by Auditor.

Commissioners Court

Public Hearing – Participation in the City of Plano Tax Increment Reinvestment Zone (TIRZ) Number 4, 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

Attachments
Court Order
Letter
ILA
ordinance
Preliminary Financing Plan
Feasibility Analysis