FAQ - Downtown Beaumont Plan
We know you have questions about the logistics and the how, and are committed to keeping you updated as we go. Your voice matters, and we want your input and to make this a place to share your thoughts and concerns. Together, we can ensure that this revitalization project not only meets the needs of the community but exceeds your expectations.
Shouldn't the City be focused on infrastructure, not entertainment?
While prioritizing the revitalization of downtown and the riverfront may seem distinct from traditional City operations, it's an integral part of Beaumont's comprehensive Strategic Plan. The goal is to create a great place to live by fostering a vibrant community hub that enhances cultural and recreational opportunities, contributing to residents' overall well-being. Simultaneously, the city remains committed to crucial infrastructure projects, public works, public safety, and capital investments. This balanced approach ensures Beaumont's financial stability, excellent community services, and upgraded facilities, creating a city that not only thrives culturally and socially but also maintains a robust foundation for its future growth and resilience.
Are all these projects happening?
Ultimately, the power to transform Beaumont lies in your hands. We need citizens like you to support and to buy-in to the future, along with private sector investments in addition to what the City is committing and planning to.
Who and how are we paying for all this?
As responsible stewards of your tax dollars, we are considering many financing options and looking at creative ways to fund the various projects. From Tax Increment Reinvestment Zones (TIRZ) to pursuing grants, we're leaving no stone unturned. Likely, the taxpayers will need to support a bond at some point for some of these projects, too. Rest assured, your investment will not only fuel these projects but also shape a legacy of progress and prosperity for our community.
How can I help?
Show your support! Sign the petition, talk positively about the vision on social media, and share with your friends/family why they should vote in favor of such a project when the time comes. Share your beau-liefs anywhere and everywhere.
Have questions, feedback or want to share your thoughts?
Email them to [email protected]. We are here to help and want to be as responsive as possible.
What is a TIRZ (Tax Increment Reinvestment Zone)?
A Tax Increment Reinvestment Zone, or TIRZ, is a widely used economic development tool that many local governments use to publicly finance needed structural improvements and enhanced infrastructure within a defined area. The goal of these improvements is usually undertaken to promote the viability of existing businesses and to attract new commercial enterprises to the area.
What are the boundaries of the TIRZ?
What are some benefits of a TIRZ?
- Construct needed public infrastructure in areas with little development or lacking adequate development to attract businesses
- Encourage development, thereby increasing property values and long-term property tax collections
- Reduce the cost of private development by providing reimbursement for eligible public improvements
Will there be an additional tax to City taxpayers?
NO. A TIRZ does not increase taxes and has no negative impact on taxpayers.
Will there be a Board of Directors for the Beaumont TIRZ?
Yes. State law requires the creation of a TIRZ Board of Directors. The City of Beaumont’s TIRZ Board of Directors includes seven (7) members, which include the Mayor of Beaumont and the six (6) City Council members. Additional appointments can be made to the Board if other taxing entities contribute to the TIRZ.
How many years will the Beaumont TIRZ be in existence?
The Beaumont TIRZ, also referred to as Reinvestment Zone Number 1, was approved for 30 years, terminating on December 31, 2053.
How much money is the TIRZ estimated to generate?
The amount estimated to be brought in each year will vary depending on property tax values each year and tax rates adopted by the city’s governing body, and any other participating taxing entities. However, based on the feasibility study provided for the creation of the Beaumont TIRZ, throughout the life of the 30-year TIRZ, the City’s anticipated portion of TIRZ revenue is $77.7 million, and could potentially increase to an estimated $151.5 million throughout the life of the TIRZ with the participation of additional taxing entities.
What are some of the projects to be paid using the TIRZ funding?
Civic Center improvements, a downtown waterway feature, downtown facade renovations, a riverfront park extension, Athletic Complex 4 Baseball Fields Conversion, Corley Diversion Phase 2, downtown Transmission/Distribution lines relocation, road and bridge rehabilitation are all potential projects.
Are there reporting requirements of the TIRZ?
Yes. The governing body of the city that created the zone is required to submit an annual report to the chief executive officer of each taxing unit that is participating in the zone and to the State Comptroller's office.