Corpus Christi city council approved the project and financing plan for Barrissi Village, establishing Tax Increment Reinvestment Zone (TIRZ) number 6 and authorizing a structured participation plan that caps the city’s reimbursement at $32 million of the zone’s eligible improvements.

"The tax increment reinvestment zone, as you guys are all aware, is from chapter 3 11," Economic Development staffer Arturo Marquez said while outlining the statutory basis and the project scope. Marquez described the 127-acre site, planned over five phases, and summarized the envisioned final buildout that includes roughly 1,300 multifamily units, 350+ single-family lots, a 100–120 room hotel, 200,000 square feet of retail, public plazas, parks and walking trails. Projected completion is 10–12 years and ultimate valuation is estimated between $800 million and $1 billion, he told the council.

Under the financing plan the participating jurisdictions (the city, Nueces County and Del Mar College) would reimburse eligible infrastructure costs with caps: the city $32 million, Nueces County $13 million and Del Mar College $7 million; combined, staff said, participating entities would reimburse up to about $52 million of an estimated $60 million of eligible improvements. The TIRZ board has already been formed and the project-and-financing plan received the board’s approval earlier; Marquez said the city action completes the last municipal step before entering development agreements with the developer, subject to final Del Mar College and county participation agreements and conditions in the plan (including demonstration of construction start by January 2027).

Council discussion acknowledged the long timeline and asked staff to keep council informed of developer commitments and county/college negotiations; the council approved the plan and the cap language. Ending: Staff will return with interlocal and development agreements and updates on Del Mar College and Nueces County participation.