Tax Increment Financing (TIF) is a tool to finance public improvements within a defined area. The improvements should enhance the environment and attract new investment. The statutes governing tax increment financing are in Chapter 311 of the Texas Tax Code.
A municipality makes an area eligible for tax increment financing by designating a reinvestment zone, also called a tax increment reinvestment zone (TIRZ) or a tax increment financing (TIF) zone. Costs of selected public improvements outlined in the zone’s project and financing plan may be paid by current or future tax revenue flowing from redeveloped or appreciated real property valued in the zone. The additional tax dollars generated by growth of real property value in the zone are called the tax increment. These dollars flow to a fund for a specified number of years. Money flowing into the fund each year is spent according to an approved plan and in accordance with agreements in place with participating governmental units.
The Pflugerville City Council adopted an ordinance on December 14, 2010 which designated Reinvestment Zone No. One, also known as the Falcon Pointe TIRZ. As designated by the ordinance, the Mayor nominates and appoints five citizens to the Board of Directors of the reinvestment zone and the City Council approves the appointments.
Place 1 serves as Chair of the Board of Directors. The Vice Chair is elected by the Board of Directors. All actions of the Board of Directors must be approved by the City Council.
Interested individuals should fill out an Application
and return it to the City Secretary's office. To inquire about current
openings or for additional information, please contact Karen Thompson by
For additional information