The Alcott Logistics Station Tax Increment Reinvestment Zone (TIRZ) was created in April 2021 for a duration of 30 years, on December 31, 2051. The City is the lone jurisdiction participating and will contribute 50% of its ad valorem increment into a tax increment fund to pay the costs of public improvements, programs and other projects benefiting the Zone. The TIRZ encompasses 251.8175 acres of land generally located South of East Scyene Road, West of the Mesquite Metro Airport, North of Berry Road and Newsom Road, and East of Smokey Mountain Trail.
Land uses for property within the TIRZ will be industrial, with the first 151 acres being used for six industrial buildings. The first of which will be a 310,000 square foot Class A building for an international market leader in niche industry with an annual inventory of $11 million.
The development will include innovative architecture and collaborative outdoor space to include a five-acre public park and interconnecting eight-foot trail system with the surrounding residential neighborhood.
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 $203 million.