New tax increment reinvestment zones to be discussed at Dec. 14 Houston City Council meeting
Published: Tue, 12/13/22
New tax increment reinvestment zones to be discussed at Dec. 14 Houston City Council meeting
On Dec. 14, the Houston City Council will discuss land annexations for two current tax increment reinvestment zones—or TIRZs—the creation of two new TIRZs, one for tax abatement purposes.
(Leah Foreman/Community Impact)
Community Impact
By Leah Foreman
The public hearings to take place Dec. 14 relate to the creation of Prologis-Wayfair and Medical Center Area TIRZs.
According to the council agenda, Prologis, Inc. and Wayfair LLC have proposed the development of 1.2 million-square-foot regional distribution center at 15550 Milner Road, Houston. Prologis, the landowner, plans to invest $70 million, and Wayfair plans to invest $63.2 million to develop the project.
If City Council approves the zone, it will enable the council to consider approval of a tax abatement agreement at the site. Wayfair submitted a tax abatement application to the city on May 18, according to the agenda item.
Also up for discussion will be the expansion of the Fifth Ward Zone by approximately 116 acres and the Harrisburg Zone by approximately 17.7 acres.
Other public hearings will be hosted for Southwest Houston, Hardy/Near Northside and Market Square TIRZs related to boundary changes.
There are separate hearings for each item, and discussion on the hearings will begin at 9 a.m. on Dec. 14 in the City Hall Chambers, 900 Bagby St., Houston.