Purpose of the TIRZ #24

The Harris County Redevelopment Authority has the responsibility to manage and account for the operations of TIRZ #24.

Under provision of Chapter 311 of the Texas Tax Code, the City of Houston Tax Increment Reinvestment Zone No. 24, also known as the Greater Houston Tax Increment Reinvestment Zone No. 24 (the TIRZ #24) will be used to establish a project and financing plan to facilitate the redevelopment and development of a 7,588.36-acre area. This TIRZ was created to attract private investment, including the redevelopment of approximately 3,305.36 acres of vacant, underdeveloped land and old oil field properties.

The use of tax increment financing allows for a dedicated source of revenue and an efficient means of raising capital to fund infrastructure improvements and public right of way enhancements as well as to alleviate deteriorated site conditions, and encourage growth of residential, commercial/industrial, and retail uses. The TIRZ funds are also used for public projects such as public parks, street lighting, capital improvements and landscape enhancements.

Based upon an assessment of the public infrastructure deficiencies within the Zone, at the time of its creation, which limited future development, the area within the Zone met the requirements stated in Chapter 311 of the Texas Tax Code, for the following reasons:

• The area substantially impaired the growth of the city and contained deterrents to the public health, safety, morals or welfare in its present condition and use. Therefore, there was a need to develop the area, demolish dangerous buildings, and rid the area of illegal businesses.
• There was a predominance of defective or inadequate sidewalk or street layout. The dilapidated state of major public infrastructure and facilities within the area limited and to some degree, continues to limit the ability to provide municipal services in an efficient and effective manner. TIRZ funds will be used for public projects such as street lighting, paved walkways, as well as other capital improvements and landscaping enhancements.
• The Zone includes rail lines and transit facilities that will benefit riders with the revitalization of vacant, underdeveloped or undeveloped land. TIRZ funds will provide new capital for necessary infrastructure, attractive security-enhancing streetscapes, and new capital for building parks, recreation spaces and hike and bike trails.

To accomplish the purposes of the TIRZ #24 plan, the County may acquire blighted, deteriorated, undeveloped, or inappropriately developed real property in a dilapidated area or in a federally-assisted new community in the TIRZ. The County may also attain, construct, reconstruct, or install public works, facilities, or sites or other public improvements, including utilities, streets, street lights, water and sewer facilities, pedestrian malls and walkways, parks, flood and drainage facilities, or parking facilities, affordable housing and other eligible project costs (not including educational facilities) as defined in Chapter 311 of the Texas Tax Code.

Harris County has positioned itself to harness many tools that are complementary to local, state, and federal program that can be used synergistically to achieve the County Vision and Goals. These tools provide the County with the ability to leverage partnerships and accelerate the delivery of new communities, expand on land uses in partnerships with multiple Harris County assets—public and private.