Denison, Texas Tax Increment Reinvestment Zone Number 5 Board of Director's Meeting, April 27, 2026

The City of Denison, Texas Tax Increment Reinvestment Zone Number 5 Board of Directors held a meeting on April 27, 2026, focusing primarily on financial updates and reimbursement approvals related to development projects within the zone. The board reviewed the financial status, noting a healthy growth rate of approximately 14% in property valuations and a current balance of over $1.6 million. A significant portion of the discussion centered on approving reimbursements to JNPHM Development for construction work on the Viking Street project, totaling approximately $1.18 million, with a maximum allowable reimbursement of about $1.19 million. The board also approved reimbursements to the City of Denison for administrative costs related to the project. The reimbursement process was clarified, emphasizing that only hard construction costs are eligible, excluding soft costs like engineering or design. The board unanimously approved the reimbursement payments to both the developer and the city, reflecting ongoing investment and development within the zone.