Tax Increment Reinvestment Zone 2

The Tax Increment Reinvestment Zone #2 (TIRZ 2 Board of Directors consists of five members who serve on staggered terms. Four of the Board members are appointed by the Iowa Colony City Council. One Board member is appointed by the Brazoria County Commissioners Court. Two Board members are up for reappointment in April 2021. One of those will be appointed by the City Council and the other by Brazoria County Commissioners Court. Currently the same members serve on both the TIRZ #2 Board and the ICDA Board.

The City Council created the TIRZ in 2010 specifically to assist in the development of Meridiana. The incremental increases in the values within the Zone are to repay the developer for public improvements constructed within the Zone. The TIRZ 2 Board is responsible for overseeing the implementation of the TIRZ Financing Plan adopted by the City Council in 2010. The TIRZ Financing Plan specifically determines which public improvements are eligible for reimbursement. The TIRZ Board approves and submits an annual report.

The TIRZ 2 Board meets periodically, roughly three to four times a year.