Tax Increment Financing Reinvestment Zone 15 Board

The Tax Increment Financing Reinvestment Zone No. 15 (TIRZ No. 15) was created in 1999 as a 9.1-acre, six-block downtown project, as depicted in Exhibit A of the ordinance creating the zone, combining mixed-use development and redevelopment for commercial, retail, and municipal uses. The City Council serves as the TIRZ No. 15 Board of Directors. TIRZ No. 15 meets the requirements of Texas Tax Code Section 311.

The zone's redevelopment is consistent with the City's Master Plan and enhanced the City's "Smart Growth Initiative." Specifically, the proposed uses include the 700,000 square foot Computer Sciences Corporation (CSC) headquarters project with ground floor retail space, and a new City Hall and Public Plaza. Part of the project sets aside a portion ($100,000 per year) of the annual incremental tax revenue received from the CSC project to maintain the plazas, streetscapes, and other public improvements constructed and installed by the City within the zone. The Council issued Ordinance No. 990826-92 authorizing TIRZ No. 15 on August 26, 1999.