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Consideration of an Agreement to Participate in Tax Increment Reinvestment Zone, Number Three, Between the City of Lewisville and Denton County, and Authorization for the Mayor to Execute the Agreement.
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ADMINISTRATIVE COMMENTS:
The agreement to participate in Tax Increment Reinvestment Zone, Number Three, between the City of Lewisville and Denton County, establishes the terms and limitations in which the City and County will participate in the Zone. The agreement covers duration and increment participation by each taxing authority, bond limit, use of funds, deposit and collection of funds, limit of obligation by the County and City and County board representation.
RECOMMENDATION:
That the City Council approve the agreement as set forth in the caption above.