BEAUMONT, Texas — New plans are in motion to develop downtown Beaumont.
The City of Beaumont is proposing a tax increment reinvestment zone (TIRZ), which would cap property tax revenue in downtown for the next 30 years.
City leaders believe this zone would make downtown Beaumont more attractive to potential developers and allow the city to get started on about 15 projects.
Ricky Watson was surrounded by family as he celebrating his 53rd birthday at Riverside Grille, downtown Beaumont's newest restaurant.
While he lives in Vidor, he works in Beaumont and says he's ready to see something new downtown.
"Something about wanting to do the riverfront park and that sort of thing, I think it's a good idea," he said. "I think you have to do whatever you can to make the city grow and keep people happy, keep people here."
Assistant City Manager June Ellis says with a TIRZ, any property tax revenue received in the future will go into the tax increment redevelopment fund.
Extra revenue would be used to continue developing downtown and major corridors and eventually, raise property values.
Beaumont Mayor Roy West says the hope is to get the attention of private developers.
"So, that money would be used to help with downtown development and economic development," he said.
This would pave the way for a new riverwalk and riverfront park expansion.
"The county and DD6 could certainty benefit from that as well. We will be asking for them to participate, assuming it passes," West said.
Watson says with new things to do in Beaumont, he expects his family to spend more time here.
"The more stuff we're able to do, we're going to come and do," he said.
Ellis says the city hopes to make a decision about the TIRZ by the end of the year.
If it passes, city council members will make up the board that will decide how the funds are spent.