Tax Increment Financing Reinvestment Zone 18 Board

On December 11, 2008, Council adopted Ordinance No. 20081211-028 to create Reinvestment Zone Number 18 for the Seaholm Redevelopment Project (the “Zone”). The project and financing plan was adopted in Fiscal Year 2008-2009.  On May 24, 2012, it was amended to increase Zone boundaries by Ordinance No. 20120524-014.  The plan’s projects included: (1) preservation and renovation of the historic Seaholm Power Plant; (2) creation of street infrastructure between Cesar Chavez and Third Streets, including Seaholm Drive and West Avenue; (3) creation of a public plaza within Seaholm; (4) construction of a bicycle and pedestrian path under railroad tracks at Bowie Street (the “Bowie Underpass”).  All projects in the plan were completed except for the Bowie Underpass. Despite extensive negotiations with Union Pacific Railroad, a project agreement could not be reached.  On December 14, 2023, Council approved Ordinance No. 20231214-011 to terminate Reinvestment Zone Number 18 and Ordinance No. 20231214-064 moved the remaining funding of $12,588,466 to the Transportation and Public Works Department to support mobility and other improvements in the Seaholm District.