City Council Approves Creation of Tax Increment Reinvestment Zone Number Seven
Will Support Growth in the London Area
CORPUS CHRISTI, TX – At today’s regularly scheduled Corpus Christi City Council meeting, the City Council approved the designation and creation of Tax Increment Reinvestment Zone Number Seven (TIRZ 7) to support planned development and infrastructure improvements in the growing London area. The approval today will designate the reinvestment financing purposes and create the Board of Directors.
A TIRZ is a designated area where property tax revenues from increases in property values are set aside to fund improvements within that zone instead of going into the general fund.
TIRZ 7 will help fund public improvements needed to support continued growth, including infrastructure that benefits families, businesses, and schools in the London community.
For more information, media representatives can contact Mia Ganceres-Garcia, Public Information Officer, at 361-885-6392 or email miag@corpuschristitx.gov.