Tax Increment Reinvestment Zone Number Five (TIRZ #5)

Responsibilities

To make recommendations to the City Council concerning the administration of the Zone. The Board shall prepare and adopt a project plan and reinvestment zone financing plan for the Zone and must submit such plans to the City Council for approval. The Board shall possess all powers necessary to prepare, implement and monitor such project plan and financing plan for the reinvestment zone as the City Council considers advisable, including the submission of an annual report of the status of the Zone. 

Zone and Function of TIRZ

A Tax Increment Reinvestment Zone, or TIRZ, is a funding tool for public improvements within a specific area, or Zone. The County and City put a percentage of tax revenue collected from property within the Zone into a Tax Increment Fund, or TIF. Funds in the TIF are used to reimburse Board approved infrastructure and development projects in the zone.
TIRZ #5 was created in 2020 and is a 30-year TIRZ and covers the Waterloo Lake and Washington Heights areas.  

Current Board Members

• Janet Gott - Chair
• Robert Crawley
• Kristofer Spiegel
• Forrest Pool - Developer Representative within the Zone boundaries
• Bruce Dawsey - County Judge