The Tax Increment Reinvestment Zone No. 20 (TIRZ No. 20) was created in 2022 to finance the construction of public improvements for the Colony Park Sustainable Community. TIRZ No. 20 is 211.5 acres of City-owned property on Loyola Lane between Johnny Morris Road and Decker Lane in East Travis County and meets the requirements of Texas Tax Code Section 311. The City Council serves as the TIRZ No. 20 Board of Directors.
The Colony Park Sustainable Community council‐approved master plan strives to provide a mix of housing (single family and multifamily), commercial space, a transit center, and a town center. The Council issued Ordinance No. 20221103-004 authorizing TIRZ No. 20 on November 3, 2022. Improvements within TIRZ No. 20 will significantly enhance the value of all the taxable real property in the zone and will be of general benefit to the City of Austin.