TIRZ: revitalizing downtown Waxahachie

Wanting to revitalize downtown, the city of Waxahachie created a Tax Increment Reinvestment Zone in 2003.

When the TIRZ was created, the taxable value of properties within the defined area was recorded and set as the zone’s base value. The base value continues to go to the city’s general fund, but any incremental ad valorem tax increases on the properties since 2003 are used by the TIRZ board to fund projects within the defined area. Waxahachie’s TIRZ includes downtown with arms extending along U.S. Highway 287 Business.

According to the Texas Comptroller’s Office, the benefits of creating a TIRZ are building vital public infrastructure, encouraging development and reducing the cost of private development with reimbursement. “It was created to be the funding stream for downtown revitalization, and because we’ve had good decision makers and strong leadership, it has performed way beyond anybody’s expectations,” Anita Simpson, downtown development director, said. “The projections when the TIRZ was established were much lower than what is currently happening, and that’s just a direct result of the fact that they’ve made good decisions and invested in good projects that have paid back to the TIRZ more than what was expected.”

Since its creation, TIRZ has funded countless projects including the restoration of the MKT Depot, construction of a new roof on the Ellis County African American Hall of Fame Museum & Library, renovation of sidewalks to meet ADA standards and addition of antique street lighting downtown. TIRZ also helped fund a portion of Railyard Park and the city’s wayfinding project that includes signage.

The TIRZ board focuses on funding the infrastructure of buildings, so they can last for years to come, Simpson said.

When the old freight depot now occupied by Southern Roots Brewing Co. began its restoration and renovation project, the TIRZ board approved funding to stabilize the structure, lift it off the ground and fix the foundation. “That building was one bad storm from falling down and being lost forever,” Simpson said. “(The TIRZ) helps to leverage private dollars to make projects doable.” The TIRZ board and Waxahachie City Council recently approved funding to reimburse the Texas Theater for electrical and infrastructure work done during its recent renovation.

“You can see the difference in our downtown,” Simpson said about the projects TIRZ has funded over the years.

The city council and TIRZ board recently approved a new reimbursement grant program for building owners within the TIRZ and Downtown District. The downtown building improvement program is a 50/50 match reimbursement grant up to $50,000 per applicant. Eligible projects include structural repairs, repairs required to meet current code, including life safety code and ADA standards, historical reconstruction of the façade, repairs to doors and windows, and more.

“We’re trying to help our property owners, and we’re thankful for those that will invest their own money,” Simpson said. “It has to be for more than just making a dollar. They have to have the heart and be willing to invest in downtown. If they never see the money back, they know that they’ve created something that’s going to last beyond them.”

Property owners interested in requesting funding from the TIRZ board can reach out to Simpson at asimpson@waxahachie.com. To learn more about the new downtown building improvement program, visit https://www.waxahachie.com/departments/downtown_development/index.php.

(Editor's note: Updated to remove a reference to the Oldham Avenue Historic District, with the revised sentence reading: The city council and TIRZ board recently approved a new reimbursement grant program for building owners within the TIRZ and Downtown District.) Originally published June 5, 2023 - https://www.waxahachiesun.com/business/tirz-revitalizing-downtown-waxahachie/article_a3fb5fd4-03d9-11ee-b7e8-4b4d1267f335.html