The Uptown Tax Increment Reinvestment Zone #16 (TIRZ) and the Uptown Development Authority were created in 1999 to address the challenges of growth and mobility in the Uptown area. The Uptown TIRZ developed a plan which addresses the following:
This plan included $235 million for mobility improvements during its 30-year life. In 2013, the City of Houston expanded the TIRZ boundaries to include Memorial Park and extended its life by 11 years to 2040 with a project plan of $1.265 billion. This plan includes $452 million to affordable housing and $120 million to educational facilities. The Zone, created in 1999 with a base value of $1.9 billion, has a value of $6.3 billion in 2014, adding $4 billion in increased existing value and new development.
The Uptown Development Authority (UDA) is a non-profit, local government corporation created to act as a funding and contracting conduit for the Uptown TIRZ. The Development Authority acts on behalf of the TIRZ in issuing bonds, letting contracts, and hiring consultants in connection with various TIRZ Projects.
Numerous road construction projects in Uptown are complete and have made a significant improvement to mobility in the area. Today, many of our streets are beautiful free-flowing roadways and gateways into and out of Uptown, and the best is yet to come. These road improvements are all made possible by the Uptown TIRZ and the Uptown Development Authority.
For an overview of all the Uptown Houston organizations, click here.