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4. Implementation

Implementation of TRZs: The Texas Process

 

 

Implementation of TRZ

1. Initiation

This stage consists of identifying an eligible target area for TRZ funding.

Preliminary analyses at this stage:

1. Economic impact study of the proposed project and the economic value it can create
2. Increment capture analysis to assess tax increment revenue
3. Demonstration of unproductive or underdeveloped land in the corridor

2. Zone Formation

Determination of Zone Boundaries. All properties included within the TRZ boundaries are identified and listed

Provision of 60-Day Notice. At least 60-Day notice period before designating the TRZ should be allowed. Public hearing on the creation of the TRZ should be held not later than the 30th day before the date when the TRZ is expected to be designated.

Refinement of TRZ Preliminary Analyses. In this stage, local governments have the opportunity to refine the preliminary analyses performed in the Initiation (Stage 1).

3. Public Hearing and Adoption

Public hearing on the creation and benefits of the zone no later than the 30th day before the TRZ.

Local government governance body convenes and holds a vote on the creation of the zone by order, resolution, or ordinance on the 30th day after the hearing.

4. Operation

 

5. Termination

According to Texas law (Texas Transportation Code 222.106(j)), a TRZ terminates:

1. On December 31 of the year in which the local government completes any contractual requirement that included the pledge of TRZ revenue.
2. On December 31 of the 10th year after the year the zone was designated, if before that date the local government has not used the zone for the purpose for which it was designated.

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