City Announces Creation of Tax Increment Reinvestment Zone Number Six for Barisi Village Development

CORPUS CHRISTI, TX - At today's regularly scheduled City Council meeting, Mayor Paulette Guajardo and the City Council approved the designation of 127.72 acres as Tax Increment Reinvestment Zone (TIRZ) #6. This will enable the construction of Barisi Village, a blend of residential and commercial spaces in the Pharoah Valley Neighborhood.

Establishing TIRZ #6 will support the redevelopment of the former Pharaoh Valley Country Club and Golf Course into the mixed-use Barisi Village. Upon completion, this project is expected to reach a final taxable value between $800 million and $1 billion. Barisi Village will offer public amenities, including parks, structured parking, a community plaza, public restrooms, and enhanced lighting for safety.

"We are excited to move forward with Barisi Village, which will bring significant new residential and business opportunities to our community," said Mayor Paulette Guajardo. "The establishment of TIRZ #6 will help provide the necessary infrastructure to ensure the success of this project."

Nueces County has agreed to participate in the development by contributing up to $13 million over the next 20 years through an Interlocal Agreement, with the City also committing $32 million to the project. This funding will support infrastructure improvements within TIRZ #6, focusing on streets, stormwater systems, and public amenities. Both the County and City's contribution will be crucial to ensuring the successful buildout of the area.

For more information, media representatives can contact Brianna Sandoval, Public Information Officer, at (361) 826-1655 or [email protected].