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.