CORPUS CHRISTI, Texas — It was back in November when developer Jeff Blackard went in front of both city and county leaders seeking the creation of a TIRZ or Tax Increment Reinvestment Zone.
The creation of the zone is said to be an important part in order to launch a project to turn the old Pharaoh Valley golf course into an almost billion dollar European style village. It's been a long talked about project.
Thursday, the project's developer gave an update on the progress to residents who live in the Pharaoh Valley area.
John Hardie like many other Pharaoh Valley residents have been patently waiting to see the almost billion dollar Barisi Village Project come to fruition.
"This project has been underway for over 10 years, we've been through a lot of waiting through lawsuits and other things, and people have come and gone," Hardie said.
The lead pastor at City Church on S. Staples Street opened his doors to fellow residents to hear an update from developer Jeff Blackard with Blackard Companies, who took questions on everything from the village layout to timelines.
Blackard said the project could start in the fall or even sooner.
He showed the crowd what Barisi could look like by showing a video of a similar project in North Texas.
Barisi Village would be built along Ennis Joslin on the site of the old Pharaoh Valley Golf Course; the 127 acres that has long been abandoned.
Construction would be done in phases over the course of 10 years.
But before any dirt can be turned, the city has to first decide on the creation of a Tax Increment Reinvestment Zone. This would allow tax money to be collected within the development area and put back into the project.
"In this case it's a perfect case, opportunity zone, meaning it's in an area the federal government has deemed that it needs whatever help it can get," Blackard said.
That money could be used on features like canals, parking, landscape and street improvements.
TIRZ dollars would be broken up between three taxing entities including the city, county and Del Mar College.
City Manager Peter Zanoni was among several city council members who were on hand for the meeting.
"The city will consider a 20 year plan, of how increased property values will generate more tax revenue but it will be put back into the project that will benefit the public like walkways," said Zanoni. "One of the reasons I'm real supportive of this, I think the city council is as well, this area is a little bit older in our community, one that if we don't invest back into it, us being the city and the private sector it will probably continue to decline."
Residents surrounding the project agree that it will help revive the neighborhood.
"We're ready for the old phase to be over with and for the building to begin," Hardie said.
Tuesday will be the first of two readings at city council.
The developer would also have to gain the support of the county and Del Mar College Board.
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