TIRZ No. 1 board members voted to approve the authority’s FY25 annual report, a document required by Chapter 311 of the Texas Tax Code that lays out the zone’s values, revenues and expenditures and will be forwarded to the state comptroller and the zone’s taxing entities.

A staff member presented the report and said the zone received $981,000 in revenue in FY25. The staff breakdown, as presented, allocated roughly $384,000 from the city’s incremental taxes, $449,000 from the county, $131,000 from the local improvement district and about $18,000 in interest income. FY25 expenditures were reported at approximately $920,000, including assignments to 4a and 4b corporations, marketing and event funding.

Captured value figures and historical totals were highlighted: the presenter said captured value for tax year 2024 was $191,800,000 and that, after subtracting a 5,500,000 base value, the total captured value stood at about $186,200,000. Since the zone’s creation in 1998, the presenter reported more than $26,300,000 in tax increment has been received.

The presenter described specific spending in FY25: about $499,000 was allocated to assignments to 4a and 4b corporations, roughly $344,000 on public relations/marketing and events, $70,000 on city‑sponsored events, and approximately $6,000 on contractual and other obligations. The presenter stated the zone had no prior bond indebtedness and incurred none in FY25.

Board members asked how the numbers compared to original projections; staff said the zone had exceeded early project plan projections and that some year‑to‑year drops reflect refunds tied to tax‑value protests (refunds are recorded in the year they are paid back). The board moved to approve the annual report; the motion passed.

Votes at a glance: minutes were approved earlier in the meeting by unanimous voice vote as recorded in the transcript; the FY25 annual report motion was moved and seconded and approved; the meeting was later adjourned by voice vote.

What happens next: after board approval, the report will be sent to the state comptroller and the taxing entities identified in the presentation, including Fort Bend County and Fort Bend ISD.