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Dec 13 2010

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SPI wants Tax Increment Reinvestment Zone

By ANTONIO VINDELL

An ambitious project to create a Tax Increment Reinvestment Zone, or TIRZ, on South Padre Island is moving in full gear as 2010 gets closer to its end.

City officials and a representative of a consulting company, TIF Services of South Texas, have been seeking the participation of two other taxing entities that will play a role in the zone once it’s established.

On Thursday, they met with the Cameron County Commissioners Court to talk about the how the zone would work. Commissioners could decide at their next meeting whether they support the city initiative.

A day earlier, the group sought the backing of the Laguna Madre Water District Board of Directors and left after the board threw its support behind the proposed project.

 For more on this story, pick up a copy of the Dec. 13 edition of the Port Isabel South Padre Press.

Permanent link to this article: http://portisabelsouthpadre.com/2010/12/13/spi-wants-tax-increment-reinvestment-zone/