Tax Increment Financing Reinvestment Zone 17 Board

The Tax Increment Financing Reinvestment Zone No. 17 (TIRZ No. 17) was created in 2007 to finance development of the 126 acre area surrounding the Waller Creek Tunnel Project bounded on the west by Red River St. from 12th St. south to Third St., west along Third St. to Trinity St., south along Trinity St. to Town Lake; on the south by Town Lake from Trinity St. east to Cummings St., east along Cummings St. to East Ave.; on the east by East Ave. from Cummings St. north to the south bound access road of IH-35, along the access road north to 11th St., west along 11th St. to Sabine St., and north along Sabine St. to Red River St.; and on the north by 12th St. between Sabine St. and Red River St. The City Council serves as the TIRZ No. 17 Board of Directors along with one Board Member each appointed by the Travis County Commissioners Court and the Austin Community College District. TIRZ No. 17 meets the requirements of Texas Tax Code Section 311.

The project's purpose is to provide 100-year storm event flood protection with no out-of-bank or roadway flooding for existing buildings, prevent the flooding of roadway crossings, and reduce the width of the floodplain, increasing the amount of developable land in the lower Waller Creek watershed. The City Council issued Ordinance No. 20070621-151 authorizing TIRZ No. 17 on June 21, 2007.