City Council Approves Project and Financing Plan for Tax Increment Reinvestment Zone #6-Barisi Village

At today’s regularly scheduled City Council meeting, Mayor Paulette Guajardo and the City Council approved the Project and Financing Plan for Tax Increment Reinvestment Zone #6, advancing the development of Barisi Village. The Project and Financing Plan outlines how funds generated within the zone may be used to support public infrastructure.

Barisi Village, located on approximately 127.72 acres on the former Pharaoh Valley Golf Course, is envisioned as a vibrant, European-style mixed-use development featuring:

· Village plazas, bell tower, wedding chapel, and event space

· 1,350 multifamily units, over 350 single-family homes, a hotel with 100-120 rooms

· Up to 200,000 square feet of retail space

· Public par three golf course, sports courts, and nature preserve

The public infrastructure will be funded through tax increment revenues generated within the zone, and eligible costs will be reimbursed up to $52 million.

“Barisi Village represents a unique opportunity to bring new housing, retail, and recreational spaces to our city while preserving public amenities for future generations," Mayor Paulette Guajardo said. “By investing in this public infrastructure, we are laying the foundation for a development that will drive economic growth, create jobs, and enhance the quality of life for our residents.”

For more information, media representatives can contact Mia Ganceres-Garcia, Public Information Officer, at 361-885-6392 or email miag@cctexas.com.