Main Street Market Square Redevelopment Authority, dba Downtown Redevelopment Authority (the Authority), is a not-for-profit local government corporation, created June 30, 1999 under the laws of the State of Texas, and operating under Chapter 431, Texas Transportation Code, and Chapter 394, Texas Local Government Code. The Authority was created by the City of Houston (the City) pursuant to Resolution No. 1999-39 to aid, assist and act on the behalf of the City in the performance of the City's obligations with respect to Reinvestment Zone Number Three, City of Houston, Texas (Main Street Market Square TIRZ).
Main Street Market Square TIRZ was created on December 13, 1995, under Chapter 311, Texas Tax Code, by the City, as a tax increment reinvestment zone (TIRZ). The Main Street Market Square TIRZ originally consists of nine city blocks (original area). In 1998, the City approved the addition of approximately 65 city blocks. In 2005, the City approved an additional two city blocks and in 2007, the City approved the enlargement of the TIRZ to include the city blocks that encompass City Hall, the Jones Building and the Julia Ideson Building of the Central Library, City Hall Annex, and Sam Houston Park. Main Street Market Square TIRZ will provide a source of funding through the increments generated by the redevelopment of certain portions of the downtown are, known as the Central Business District, and is devoted primarily to commercial and business activity, to include the Main Street Market Square and a mixed use project to be known as the Houston Pavilions and the improvement of the Julia Ideson Building.
|
