The Burleson City Council moved forward with an ordinance to create a tax increment reinvestment zone, or TIRZ, in the transit-oriented development district at its Monday meeting.
A special session meeting was scheduled for Tuesday evening for a final reading and vote.
Council members approved an ordinance to create the TIRZ after the first reading.
Director of Economic Development Bradley Ford explained the TIRZ during the council’s third public hearing on the item on Monday night. Ford said it’s a common economic development tool to stimulate development in a particular area.
“It isolates increased values to an area to fund public infrastructure in areas,” Ford said.
The city previously had one in place at Gateway Station and has an existing TIRZ in Old Town to support its redevelopment. It does not create additional tax liabilities, Ford said.
The particular area for the TIRZ is west of Farm-to-Market Road 731 at the junction of where Hulen Street and Alsbury Boulevard will eventually meet.
Mayor Ken Shetter also took time at the beginning of the meeting for council members to pay their respects to those affected by the Sandy Hook Elementary Shooting Friday in Newtown, Conn.
Residents voiced their concerns in a separate public hearing to consider a waiver request of section 5.3 of the subdivision and development ordinance. Bloomfield Homes, L.P., owns about 79 acres of land in the Plantation subdivision south of Hidden Creek Parkway where Monticello Drive ends. A proposed phase 3 development would add 295 residential lots and two open space lots. The first two phases, which consist of about 230 lots, are almost completely built out.
Developers would like to develop the rest of the subdivision in different phases. Phase 3A, the first phase, would contain about 50 lots. The waiver request requires a second obstructed point of public ingress and egress for subdivisions with more than 30 lots. For phase 3A, a waiver would be needed to build the 50 lots.