Waco Tribune-Herald:TIF board approves $35 million for new Baylor stadium

July 11, 2012

Reprinted by permission of the Waco Tribune-Herald

By J.B. Smith

Wednesday July 11, 2012

A $35 million public contribution to the Baylor stadium project passed the downtown Tax Increment Financing Zone board today and now heads to Waco City Council for final approval.

The largest economic development contribution in McLennan County history, it would aid public improvements such as roads, sewer pipes and power lines, as well as a boat harbor and a $13 million footbridge over the Brazos River.

The Waco City Council is set to vote on the package next Tuesday, three days before the Baylor Board of Regents is to give its final approval to the $250 million stadium.

The TIF Zone receives a portion of property tax revenue from the downtown and river corridor areas and reinvests them as public improvements and incentives for redevelopment.

Read the full story in Thursday's Tribune-Herald.