The Temple Chamber of Commerce Public Policy Council is excited to kick off their annual luncheon series at the Hilton Garden Inn from 11:30 a.m. to 1:00 p.m. on Wednesday, May 29, 2019, with an insider’s look into the Temple Tax Increment Reinvestment Zone (TIRZ) 2030 Master Plan. Temple 2030: An Update on the Master Plan will feature Mr. Bob Browder, Chair of the 2030 Master Plan Committee, and Mr. Tyler Johnson, Chair of the TIRZ Board.
The City of Temple established the original TIRZ #1 on a 12,800-acre tract of business land in 1982. The zone boundary has since been expanded and encompasses several areas that serve as economic drivers for the city including the downtown area and the Temple Medical and Education District (TMED). The improvements to the property in the TIRZ include reconstruction and construction of certain streets, historical buildings, and other infrastructure.
The TIRZ is funded through increases in ad valorem taxes within the zone. When property valuations rise, the additional property tax revenue is then reinvested back. For example, if a property owner pays $100 in taxes one year, but pays $110 the next year, the extra $10 is put into the reinvestment zone.
The City of Temple TIRZ is an extremely powerful tool in developing the economic base for the City. During the life of the TIRZ, it has funded development projects that have attracted business growth in heavy industrial, manufacturing, distribution, advanced medical technology, bioscience, and rail.
"To continue the success of the TIRZ, and build upon the Temple 2022 Master Plan, which has largely been accomplished, careful planning and consideration have been given to direct future development," noted Rod Henry, Chamber President. "Our featured speakers Bob Browder and Tyler Johnson will bring invaluable insight about current and future projects within the TIRZ."
The Temple Chamber of Commerce Public Policy Council luncheon is an opportunity for the business community to learn about topics that impact our region’s competitiveness and quality of life. The Chamber’s Public Policy Council seeks to unify the voices of the Chamber’s business leaders on important policy issues, connecting and building relationships between members, community and political officials.
Further event information and reservations can be made at www.templechamber.com through close of business on Friday, May 24, 2019. For more information, contact the Temple Chamber of Commerce at (254) 773-2105.