Chapter 311 of the Texas Tax Code,  known as the Tax Increment Financing Act, requires municipalities with tax increment reinvestment zones to provide an annual report each fiscal year to the State Comptroller and the chief executive officer of taxing entities within the zone that levy a property tax. The report includes detail on FY18 revenue, expenditures, debt, tax increment base, appraised value, and captured value, as referenced in the state law.

The report was recommended to City Council for approval by the TIRZ No. 4 Board on December 17, 2018. Staff recommends City Council approval, pursuant to the requirements of the Texas Tax Code. Upon approval, the report will be sent to the necessary taxing entities and the Comptroller.