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Commissioners Court appointed Economic Development Director Robert Villarreal to represent the County of Hidalgo as a board member on the Tax Increment Reinvestment Zone Number One, City of McAllen Board of Directors.
A tax increment reinvestment zone (TIRZ) is a political subdivision of a municipality or county in the state of Texas created to implement tax increment financing. A TIRZ may be initiated by the city or county or by petition of owners whose total holdings in the zone consist of a majority of the appraised property value.
The McAllen TIRZ project is 2,550 acres located from the intersection of Monte Cristo Road and Ware Road to Cantu Road, as known as the Tres Lagos area.
The Court also took action and approved a resolution intended to move forward on three related City of Edinburg TIRZ projects. These involve The Shoppes at Rio Grande Valley and the new Rio Grande Valley Vipers Arena. The Court will be voting on these projects soon.