Port authority transportation reinvestment zone development and implementation guidebook.
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2017-03-01
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Alternative Title:Port authority transportation reinvestment zone development and implementation guidebook : tools for port TRZs and TRZs for multimodal applications.
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Abstract:Transportation reinvestment zones (TRZs) are a relatively new tool for infrastructure finance that allows governmental entities with taxing authority to set aside funds for local match contributions for transportation projects and capture the land value increases that result from the transportation projects. In 2013, lawmakers made TRZs available to port authorities and navigation districts, the governmental entities that operate Texas ports. TRZs work by designating the area around a needed transportation project as an impact zone and allowing the governmental entity who funded the project to capture some or all of the increment in local property and sales tax revenues that result from the growth in the zone’s tax base. This guidebook assists Texas Department of Transportation (TxDOT) staff, Texas port authorities, and local government stakeholders in understanding Port Authority TRZs—how they work and how they might be of benefit to a port authority, its surrounding community, and the U.S. and Texas State Highway Systems.
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