A tax increment reinvestment zone, or TIRZ, is a special kind of taxing district through which tax revenue gains within a designated area are redirected to fund infrastructure improvements.
In the case of the Megasite TIRZ, city documents indicate funds would be put toward road projects, utility improvements and economic development grants to attract new projects to the site.
According to city documents, the TIRZ would allocate a projected $167 million in tax revenue toward improvements over the next 25 years.
If approved, the Megasite TIRZ would be Hutto's third TIRZ—the two existing reinvestment zones are for the Co-Op District, and the sports and health district.
