kbates2 Posted August 4, 2018 Share Posted August 4, 2018 But it’s not splitting hairs is it? Is the reinvestment of taxes in the zone not supposed to be done within that zone? Quote Link to comment Share on other sites More sharing options...
BeerNut Posted August 4, 2018 Share Posted August 4, 2018 9 hours ago, kbates2 said: But it’s not splitting hairs is it? Is the reinvestment of taxes in the zone not supposed to be done within that zone? that's the way it should be but Coleman was able direct funds for his own agenda. Quote Link to comment Share on other sites More sharing options...
Diaspora Posted August 8, 2018 Share Posted August 8, 2018 By law every TIRZ must set aside 1/3 of the allotted funds they receive for use in the development of affordable housing. This aligns with the TIRZ purpose of hyper local development to address urban blight. The TIRZs within Harris county may use that 1/3 allocation anywhere with the boundary of the County, so the development dollars, of that percentage, is not consigned to the TIRZ boundary. Land banking those funds into the third ward makes sense on a fiduciary basis as the cost of land is significantly less east of 288. It also makes some sense as a means of managing gentrification, though this is more debatable. 1 Quote Link to comment Share on other sites More sharing options...
kbates2 Posted August 8, 2018 Share Posted August 8, 2018 Well there you go, thank you for the explanation. Quote Link to comment Share on other sites More sharing options...
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