The Spradley Farms Increment Reinvestment Zone (TIRZ) was created in September 2019 for a duration of 35 years, expiring on December 31, 2054. The City and Kaufman County are the jurisdictions participating. The TIRZ tax incre-ment for the City is 60 percent of the City’s captured value and the TIRZ tax incre-ment for Kaufman County is 55 percent. The TIRZ encompasses 652 acres located between FM 2757 and I-20 and North of I-20 East of FM 740 in Kaufman County. Over the 35 year term of the TIRZ, anticipated development will include a high-quality, master-planned, residential community including open space areas. It is anticipated that the community will consist of 2,513 housing units to be built over ten phases. It is also anticipated that the approximately 8 acres within the north-ern parcel will be built out with commercial uses. A Municipal Management Dis-trict (MMD) has been created through the Texas Commission on Environmental Quality (TCEQ) within the TIRZ. The management district will be funded by an ad valorem tax and assessment on property within its boundaries to provide public projects related to mobility, water, sewer and storm infrastructure, floodplain mitigation, parks and open space improvements and maintenance. TIRZ reve-nue, along with management district revenue, will be available to the manage-ment district to pay or otherwise finance reimbursement of project costs as in-crement is realized,.
It is estimated that upon expiration of the term of the Zone, the total appraised value of taxable real property in the Zone will be more than $863 million.