Council weighs proposal for Tax Increment Reinvestment Zone in West El Paso
El Paso City Council is considering establishing a Tax Increment Reinvestment Zone (TIRZ) that would include 3,900 acres of land in West El Paso.
It goes just north of Transmountain, about a block south of Helen of Troy Drive, as far West as I-10 and as far East as Hermoso Del Sol Dr.
“Those 3900 acres where we’re creating that TIRZ — those taxes can only be utilized for that area to be able to address those public improvements,” said Jessica Herrera, the City of El Paso’s economic development director.
Herrera said money generated by the TIRZ helps address problems with things like sidewalk improvements and storm water drainage. This makes the land more attractive to retailers and developers.
City Council will vote on whether to approve the proposal on May 29th.
“We hope to attract anybody who is looking to come in, especially new to the market,” said Elizabeth Triggs, assistant director of economic development . “But the purpose of the TIRZ is really just to set up the fund so that we can fund projects that could encourage development.”
Rick Bonart was at Tuesday’s city council meeting to speak against the proposal. He was not allowed to speak because Tuesday’s City Council agenda item was just a first reading of the proposal, and per city council rules, it does not call for public comment.
“I view it as basically an economic black hole. The TIRZ does take tax dollars, and instead of going into the general fund where everyone is getting a valuation from that, it goes into just the TIRZ itself,” Bonart said.
Bonart often frequents the Lost Dog Trail, which is located within the proposed zone. He said he’s concerned about the TIRZ being established because it could lead to development taking away land that’s used by hikers.
“I believe it has a higher dollar value to the community as a recreational area than it ever would as a tax vehicle,” Bonart said.
The Open Space Advisory Board will hold a public meeting to discuss the TIRZ proposal on Wednesday, May 23rd.
The advisory board will then present its findings to city council.
City representative Peter Svarzbein and the city’s economic development team will hold six different public meetings in regards to the TIRZ.
5/17 City Hall main conference room 7-9 p.m. 5/21 Westside Regional Command Center 7-9 p.m. 5/23 Polly Harris Senior Center 7-9 p.m. 5/25 Eloise Restaurant 1-3 p.m. 5/30 Eloise Restaurant 1-3 p.m. 6/1 El Paso Tennis and Swim Club 6-7:30 p.m.
Members of the public will also be able to speak about this item during the May 29th city council meeting.
