The objective of this program is to assist developers with public improvements around their projects under construction and within the boundaries of the Downtown Redevelopment Authority, Tax Increment Reinvestment Zone #3 (DRA-TIRZ #3).
This program is funded by the increment received from the City of Houston, Houston Independent School District and Harris County. The Houston City Council created the Tax Increment Reinvestment Zone in 1995 and expanded its boundaries in 1998. The boundaries of the TIRZ #3 are detailed in Exhibit A.
Procedures and Guidelines
An application for funding must be submitted to the DRA-TIRZ #3 before funding will be considered.
Applications will be reviewed by the Board of Directors within 90 days after receipt of a completed application. The DRA-TIRZ #3 is not obligated to consider or evaluate incomplete applications, and it may request additional information from applicants. The DRA-TIRZ #3 board reserves the right to reject any and all applications or discontinue the program at any time.
All awardees must agree to place a sign on said property denoting the DRA-TIRZ #3 contribution for the duration of construction of the project.
Applicants will be notified of the date and time of the Board meeting to consider the application.