Abilene City Council to Consider Final Vote on New Tax Increment Reinvestment Zone

The Abilene City Council has approved a tax increment reinvestment zone to help fund a single-family residential development on land owned by Abilene Christian University. The proposed project will create a single-family subdivision on Abilene's north side, the area bounded by North 10th Street, Loop 322, a portion of East Highway 80, San Jacinto Drive and Kenwood Drive. The housing development is expected to create $436 million in taxable value, while it's estimated the city will receive close to $41 million over the life of the agreement.

Cornerstone Projects Group led the effort assisted by David Pettit Economic Development.