Value Capture Strategies: Transportation Reinvestment Zones – The Primer
Wednesday, July 14, 2021 5:00:00 PM UTC - 7:00:00 PM UTC
Transportation Reinvestment Zones (TRZs) are a funding mechanism first established by the 80th Texas Legislature in 2007 as a Value Capture strategy that capture and leverage the economic growth that results from a transportation project. A TRZ allows a city or county to designate a geographic area around a proposed transportation project and capture the incremental property tax and/or sales tax revenue generated in the area for use in funding the development of that project. A TRZ is not a tax increase—it merely allows for the dedication of all or a portion of the incremental increase in tax revenues generated within the boundaries of the TRZ to support the funding of the project which influenced the growth in tax revenues. FHWA will roll out the Transportation Reinvestment Zones – The Primer designed to provide information to state and local authorities looking for new and innovative funding sources to help pay urban, suburban, and rural public roads as well as spur economic development and redevelopment. Do you know which economic development tools are available to fund transportation infrastructure projects to attract new development or retain businesses to your community? Do you need infrastructure to accommodate your communities’ anticipated growth or assistance in implementing Incremental Growth Techniques? Come to the Value Capture Strategies webinar on July 14, 2021 to learn how TRZ can help your state and local authorities. Registration is free but is limited, register now! to reserve your space.
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