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City TIRZ board OKs project, finance plan

January 25, 2023 - 00:00
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The newly created City of Navasota TIRZ board held a Special Meeting Monday, Jan. 23, and appointed Bert Miller chairman and Grant Holt vice chairman. The board also approved the Final Project and Finance Plan for the City’s Tax Increment Reinvestment Zone.

Plan projects include infrastructure improvements, including detention/drainage, water and sewer, mobility

improvements, parks, recreation and public facilities, and economic development at a cost of $22,500,000. Cost per project is as follows: infrastructure, $10,000,000; mobility and connectivity, $10,000,000; parks, recreation & public facilities $1,500,000; economic development $500,000; and planning, administrative and legal, $500,000.

Projected tax revenue over the 30-year term of the TIRZ is $46,819,251 with 50%, or $23,409,626, going into the TIRZ fund.

The TIRZ boundary includes approximately 2,890 acres and is located within Navasota’s city limits as well as its ETJ. Its western boundary is SH 6, its ETJ on the east, FM 3090 on the north and SH 105/Spur 515 and CR 446 on the south.

The TIRZ also includes approximately 274 acres near the northwest corner of the SH 6/Spur 515

intersection and approximately 30 acres on the southwest corner of SH 6 and FM 3090. 

The majority of the Zone is located within the City’s ETJ and is undeveloped or in agricultural use.