FBG considers a TIRZ

Fredericksburg City Government considers a TIRZ, A Tax Increment Reinvestment Zone according to the Standard Radio Times. Anna Hudson, Director of development for the city’s presentation showed the investment zone covering West Main Street, up to the Y of Highway 290 and Highway 87. Hudson along with Travis James of TXP, an economic analysis and public policy strategy firm hired by the city, a TIRZ would help pay for public improvements made by developers and could increase development by giving developers reimbursement for eligible projects. If the city or county moves forward, the final approval should occur before Dec. 31, 2024.