Tax Increment Reinvestment Zone No. 3 (TIRZ3)
On March 15, 2021, the City Council of the City of Jersey Village, Texas approved Ordinance No. 2021-14, creating the “Reinvestment Zone Number Three, City of Jersey Village.” This TIRZ is informally referred to as the "Jersey Drive TIRZ".
The creation of this proposed TIRZ District allows the City of Jersey Village to benefit from homes being removed from the flood plain and new homes being constructed that are above the flood plain. In addition, this will also likely spur the redevelopment of nearby areas.
You can read the full Project and Financing Plan here.
In establishing the TIRZ3, the City Council also created a Tax Increment Reinvestment Zone Board. The Board shall consist of nine (9) regular members who shall be nominated and appointed as follows:
- The member of the State Senate in whose district TIRZ3 is located is a member of the Board, and the member of the State House of Representatives in whose district TIRZ No. 3 is located is a member of the Board, except that either may designate another individual to serve in the member’s place at the pleasure of the member.
- Each taxing unit that levies taxes on real property in TIRZ3 may appoint one (1) member to the Board if the taxing unit has approved the payment of all or part of the tax increment produced by the taxing unit into the tax increment fund for TIRZ No. 3. If a taxing unit chooses not to participate, then the City Council (the “Council”) of the City of Jersey Village (the “City”) may appoint a number of members to the Board such that the Board comprises nine (9) members.
To be qualified to serve on the TIRZ3 Board, all other Board members, except for the State Senator and State House Representative members, shall be at least eighteen (18) years of age and own real property in TIRZ3, or be an employee or agent of a person that owns real property in TIRZ3. Any Board member who ceases to possess such qualifications shall automatically be deemed to have vacated their membership on the Board.
Each year, the Board shall elect one (1) of its members to serve as Chairman for a term of one (1) year that begins on January 1 of the following year. The Board may elect a Vice-Chairman to preside in the absence of the Chairman or when there is a vacancy in the office of Chairman. The Board may elect other officers, as it considers appropriate.
The Board shall act as an advisory board to the Council in the operation and administration of TIRZ No. 3, with all action by the Board being subject to Council approval. The authority and responsibility of the Board expressly includes:
- Making recommendations to the Council regarding the administration of TIRZ3;
- Making recommendations to the Council regarding agreements that are necessary or convenient to implement the TIRZ3 project plan and financing plan;
- Making recommendations to the Council regarding agreements with local governments or political subdivisions for management of TIRZ3;
- Making recommendations to the Council regarding the expenditure of funds related to development and redevelopment of land within TIRZ3;
- Acting as the lead entity in working with other City boards and commissions regarding incentives, regulations, infrastructure, and all other physical and economic development decisions related to TIRZ3; and,
- Providing an annual progress report to the Council, and as requested by the Council.