Tax Increment Reinvestment Zone 2

The City of Kyle established Tax Increment Reinvestment Zone No. 2 (TIRZ #2) effective December 18, 2018 for 20 years terminating on December 31, 2037.  TIRZ #2 at creation had 1,480 acres of undeveloped residential and commercial land.  The purpose of TIRZ #2 is to provide:

1. Public buildings and facilities,
2. Public water distribution, wastewater collection, and storm drainage facilities,
3. Parks, public parking, other public infrastructure, and
4. Economic development.

On April 18, 2023, City Council Approved (1) extending the termination from December 31, 2027 to December 31, 2057, (2) amending the Original Project and Financing Plan to add additional projects, (3) amending the Original Interlocal Agreement, and (4) issuing obligations secured by revenues generated within the Zone to finance such authorized projects.