Title
Conduct a Public Hearing to Consider/Discuss/Act on a Request to Amend the Project Plan for the Tax Increment Reinvestment Zone Number One, and Accompanying Ordinance
Summary
COUNCIL GOAL: Direction for Strategic and Economic Growth
MEETING DATE: July 21, 2026
DEPARTMENT: Development Services - Planning Department
CONTACT: Cassie Bumgarner, Planning Manager
Lucas Raley, AICP, Director of Planning
RECOMMENDED CITY COUNCIL ACTION:
• Staff recommends approval of the Amended Project Plan.
ITEM SUMMARY:
• On June 16, 2026, City Council approved an expansion of the Tax Increment Reinvestment Zone Number One by approximately 16 acres.
• This amendment to the project plan updates the map to reflect the new boundary adopted by the passing of ordinance 2026-06-077.
BACKGROUND INFORMATION:
• On April 28, 2026, applicants and property owners Cotton Mill Partners, LTD and Presidium Cotton Mill, LLC, petitioned to be included in the TIRZ 1 boundary in accordance with state law.
• The Texas Tax Code allows for property owners to petition for inclusion in a TIRZ boundary. When a TIRZ boundary is expanded due to a property owner petition, the provisions relating to the amount of property used for residential purposes do not apply.
FINANCIAL SUMMARY:
• The ad valorem and sales tax for this newly expanded boundary will be added to the fund balance beginning in the tax year 2026.
• Although Collin County participates in the originally adopted boundary of TIRZ 1, Colling County was not asked to participate in this expansion request.