Proposed TIRZ Improvements

The Midland TIRZ is a very important and useful tool available to taxing entities to implement this strategy of short-term stabilization and long-term revitalization of Downtown by providing needed incentives or assistance.  TIRZ improvements will be used in a variety of ways to leverage private and public investments.  These activities are identified in the following outline, which links TIRZ funded improvements with concepts of the following development strategy: 

	Strengthen the core Downtown assets in order to grow tax base The TIRZ will assist owners with upgrades that will increase marketability of office space and contribute to public welfare.  The TIRZ will reimburse owner costs associated with: Improving street environment Upgrading public infrastructure (traditional/technology) The TIRZ can also strengthen the core office market by assisting the transition of obsolete office buildings to other uses.
	Transition unproductive/obsolete/vacant buildings Enable alternative uses, such as residential, retail, warehouse/storage, and communications by bridging gaps between what private developers can fund and the cost of redevelopment. Have a financial assistance program in place for demolitions, environmental remediation and historic façade restorations that will help attract developers. Prepare vacant sites for development by assembling sites and funding utility upgrades, residential amenities, and street improvements.
	Establish Downtown as a multi-dimensional destination Assist development of community facilities in Downtown by providing funds to assist with site acquisition and site preparation, utilities, streetscape enhancements, or other related capital costs. Facilities may include expansion of the Midland Center, a Mercado/public market, non-profit art/museum space, and performing arts space Streetscape improvements for pedestrian-friendly environment. Fund pedestrian linkages that connect surrounding neighborhoods.
	Facilitate residential development in and near Downtown Acquire and prepare sites for single-family housing, then sell prepared lots to developers. Promote the rehabilitation of historic structures for niche housing through reimbursement of environmental remediation, façade restorations, and through acquisition/joint venture opportunities. Promote single-family “starter” housing on vacant blocks through community partnerships and funding sources such as the Hispanic Chamber and CDBG program.