In 2018, DPED worked with City of El Paso staff as their consultant to get three Tax Increment Reinvestment Zones passed by City Council.
Source: KFOX 14
“El Paso City Council members voted to pass the controversial Tax Increment Reinvestment Zones to develop an area near the Franklin Mountains in northwest El Paso. The zone is about 1,007 acres.
The city said TIRZ 12 is located near Transmountain Road on the far Westside. Under its approved project and financing plan, the city said they will redirect or contribute 33 percent of incremental property tax revenues to the TIRZ 12 fund, and the other 67 percent to the City’s general fund.
City said TIRZ 10 is located on the far Westside and consists of approximately 3,922 acres of land running north along the eastern boundary of Interstate 10 near Paseo del Norte. TIRZ 10 was initially created in December of 2017, however was expanded in late May for the purpose of providing funding for needed stormwater infrastructure in the area. For the expansion, the City will contribute 33 percent of its incremental property tax revenues over the term Zone.
The city said TIRZ 11 consists of approximately 50 acres in the Northeast and will be one of many financing tools used to spur private development at the Cohen site. The City will redirect 100 percent of its incremental property tax revenues from TIRZ 11 to fund various public improvements such as stormwater, open space, parks and recreation facilities, streets and intersections, and water and wastewater infrastructure.”