The meeting will be at 6 p.m. at Town Hall, 2121 Cross Timbers Road. A workshop about the TIRZ will be held at 6 p.m. Oct. 19.
The background
A TIRZ is an economic development tool that can be used by municipalities and counties to finance infrastructure costs in specific geographic areas, according to a recent Town Council agenda.
Representatives from P3Works, a firm specializing in helping cities and counties create and administer TIRZs, conducted a presentation of a TIRZ at the Sept. 19, 2022, council meeting, and a representative from that company appeared at an Oct. 2 council meeting. At that meeting earlier this month, council approved the hearing for Nov. 6.
Zooming in
This TIRZ is close to where Flower Mound Ranch, formerly known as Furst Ranch, a mixed-use development with single-family homes and apartments, will be built. After the Nov. 6 hearing, council will consider the creation of TIRZ No. 2 as well as the adoption of the preliminary project and finance plan.
Council will consider adoption of the final project and finance plan at a date in the future, according to a presentation given by Mary Petty, co-founder and managing partner of P3Works LLC, the town’s consultant, at the Oct. 2 meeting.
