INTERIM. 2 New Texas Special District for Transportation Funding.

What local governments created a new special district for transportation funding? Weatherford & South Padre Island with Cameron Cunty

What is the goal of the new special district? spur development along the Interstate 20 corridor in Weatherford & improve Padre Boulevard

How will the new special districts funding work?

Property tax revenue continues collection
the local governments will designate to the TIRZ fund a portion of the additional property tax revenues as development occurs

What is Weatherford’s estimated investment in the zone? $23 million

What is estimated to be South Padre Island investment in the zone? $8.2 million by 2026

Transportation