Council Work session to focus on TIRZ presentation Tuesday at 5:30

The Big Spring City Council will hold a work session meeting at 5:30 p.m. Tuesday, June 15, in the City Council Chambers, 307 E. Fourth St.

After the meeting is called to order, the only item on the agenda is a presentation to the council on a proposed Tax Increment Reinvestment Zone, or TIRZ.

A TIRZ is a tax structure involving a partnership between the city and a developer that provides money for development in a portion of the city, which is then paid back as the area’s tax base improves. The

TIRZ’s expenses are restricted to building capital assets.

A TIRZ is typically used to provide a way for cities to afford needed public infrastructure that would be cost-prohibitive otherwise.

While Mayor Shannon Thomason’s name is associated with the item on the meeting’s agenda, the agenda provides no information about who is giving the presentation, or where any potential TIRZ would be located in Big Spring.

The meeting will be televised on Local Channel 17 through Suddenlink, or on the city’s website at mybigspring.com/224/ Channel-17-Live.