02.10.2026 TIRZ No. 3 Meeting PresentationWelcome to the February 10, 2026,
Prosper TIRZ No. 3
Board of Directors Meeting
Call to Order/Roll Call
Agenda Item 1.
Consider and act upon adoption of a Project and Finance Plan for Tax
Increment Reinvestment Zone No. 3. (CE)
Tax Increment Reinvestment Zone No. 3
•Town Council created new zone December 2025
•Established to fund public improvements along DNT and
downtown area
•No development agreements proposed at this time
•Sets aside funds to reimburse Town for municipal services
provided
•If approved by TIRZ No. 3 board, final project and finance
plan will be considered by Town Council
TIRZ #3 BOUNDARY MAP
Projected Revenue
•Value projected over 20 years
•50% of new increment dedicated to TIRZ projects
•50% to general fund
•Current property value - $258,946,538
•Proposes to collect 50% of O&M rate on new value
•Current O&M rate is .322054 (.161027)
•Total projected revenue assuming 3% annual growth - $12.5M
•Total projected revenue assuming 7% annual growth - $40.2M
Proposed Projects
Project Category Estimated Cost
Street Improvements $100,500,000
Parks & Downtown Improvements $25,600,000
Public Facilities (Recreation Center)$40,000,000
Public Safety Operations & Maintenance $2,700,000
Utilities $22,300,000
Drainage Improvements $2,000,000
TOTAL PROJECT INVESTMENT $193,100,000
Adjourn