Potter County Votes to Support TIRZ

19 million dollars is what Potter County will put toward revitalizing Downtown Amarillo. Commissioners voted to support the Tax Increment Reinvestment Zone earlier today.

Potter County is said to make the largest monetary contribution to the Tax Increment Reinvestment Zone, or TIRZ.

The total cost of re-making Downtown Amarillo is estimated to cost about 34 million dollars over the course of 30 years.

That means Potter County will be contributing over half of that.

57 percent of taxes paid into potter county will go to TIRZ.

Some commissioners say today's decision was a positive one. They say as downtown continues to grow, he believes it will attract more business which would in turn mean more jobs for amarillo.

TIRZ already has support from several downtown businesses like Amarillo National Bank as well as the City of Amarillo.

Amarillo College is the only entity left to vote on TIRZ, and that is expected to happen some time.