TIRZ-1 Board Includes State Lawmakers
The Olney City Council took final action April 27 to establish Tax Increment Reinvestment Zone No. 1 (TIRZ1), with the city’s two state lawmakers, Rep. David Spiller and Sen. Brent Hagenbuch, set to serve on the board overseeing the zone.
The council approved multiple ordinances on second reading, including interlocal agreements with Young County Commissioners and the Olney Hamilton Hospital District, as well as development and annexation agreements tied to the project.
Mayor Pro Tem Chuck Stennett read the items into the record after Mayor Rue Rogers recused himself from the TIRZ-related votes. Mayor Rogers works at Tower Extrusions, owned by Oilney Development chief Mark McClelland.
The agreements formalize participation among the taxing entities and lay the groundwork for reinvestment within the zone, which is centered on housing expansion development tied to Tower Extrusions and Olney Development.
The council also approved a resolution appointing board members to the TIRZ-1 board, including representatives from the city, county, and hospital district, as well as Mr. Mc-Clelland, and his daughter and son-in-law, Lyndsey and Reid Miller of Olney Development. The other board members are: Young County Judge Win Graham, County Commissioner Alan Craig, Olney Hamilton Hospital board member Ron Rogers, and Councilmember Ronnie Cowart.
The addition of Rep. Spiller and Sen. Hagenbuch gives the board direct connections to state-level leadership, a factor city officials expect to strengthen the project’s reach, said attorney David Earl, who represents Olney Development.
TIRZ-1 is designed to capture increases in property tax revenue generated by new development and reinvest those funds into infrastructure and improvements within the zone.
With the agreements finalized, the TIRZ-1 board will move forward with the project plan Olney Development presented to the Council late last
The April 27 meeting also marked the final appearance of Mr. Cowart, who is retiring from the council but will nevertheless sit on the TIRZ-1 board. His departure comes ahead of the May 2 municipal election, with at least one and possibly two new members expected to be sworn in at the next meeting on May 11.