Houston City Council approved the Texas Medical Center Tax Increment Reinvestment Zone’s fiscal year 2026-27 budget of $1.7 million during the Sept. 2 regular meeting.
The gist
Known as TIRZ 28, council also approved the $6.9 million budget for its five-year Capital Improvements Plan. Projects that will take place in the area throughout the next five years include:
- TMC independent water supply system
- Transportation safety and access improvements
- Roadway rehabilitation
- Multimodal connectivity improvements
The water supply system also has a budget of $400,000 and will be paid off during FY 2026-27.
TIRZ 28 includes areas like the Texas Medical Center, the Houston Zoo and Hermann Park. It was first created in December 2022, according to the city’s website.
Also on the agenda
Council also approved an updated agreement extending Harris County’s participation in TIRZ 16, which represents Uptown, through 2040. The county will contribute 40% of its tax increment generated within the zone’s Precinct 4 portion, with portions dedicated to affordable housing and maintenance and operations.