On Dec. 17, 2012, the Denton City Council adopted Ordinance No. 2012-366 designating and describing the boundaries of Tax Increment Reinvestment Zone Number Two for an industrial district of Denton, Texas; establishing the duration of the Zone; establishing a Tax Increment Fund; and establishing a Board of Directors for the Tax Increment Reinvestment Zone. The City’s second TIRZ consists of approximately 800 acres and is located north of Airport Road. This industrial area (Westpark) lacks the public infrastructure necessary to encourage development.
The Westpark TIRZ took effect on Jan. 1, 2013, and will terminate on Dec. 31, 2036, or the date when all project costs are paid and any debt is retired, whichever comes first. It is estimated that the TIRZ would generate approximately $14.3 million over a 25-year period for infrastructure improvements. The City and Denton County will contribute $10 million and $4.2 million into the TIRZ fund, respectively. According to the Finance Plan, the City would retain $43.9 million and the County would retain $18.8 million of real and business personal property revenue over the life of the TIRZ.
2016 Annual Report TIRZ Number Two
2015 Annual Report TIRZ Number Two
2014 Annual Report TIRZ Number Two
2013 Annual Report TIRZ Number Two
Meeting Minutes TIRZ Number Two - 07/13/17
Meeting Minutes TIRZ Number Two - 09/21/16
Meeting Minutes TIRZ Number Two - 06/15/15
Meeting Minutes TIRZ Number Two - 04/08/15
Meeting Minutes TIRZ Number Two - 05/06/14
Meeting Minutes TIRZ Number Two - 04/01/14
Meeting Minutes TIRZ Number Two - 10/15/13