Description To encourage development in the Neighborhood Empowerment zone (NEZ) and the Downtown Residential Revitalization Program (DRRP), the Town is offering incentives for qualifying development projects.

Criteria for NEZ A project in the NEZ must meet the definition of "new, non-residential development" which means the demolition and/or the redevelopment of existing structure(s), when the demonstrated value of the new construction exceeds the value of the previous improvement by a minimum of fifty percent (50%), based on the most recent value determined by the Collin Central Appraisal District and the owner shall agree to construction standards as established in the Zoning Ordinance, as it exists or is amended, and the “Old Town Architectural Standards

Incentives Upon execution of a development agreement, the Town will waive 75% of the cost of the following fees:




























Criteria for DRRP The project may include (1) a single-family residential structure that has been on the Town's tax rolls for at least twenty five (25) year prior to the
date of application for participation in the program, (2) the demolition or removal of an eligible single-family residential structure and replacing it with a new single-family
structure, or (3) constructing on vacant property a new single -family residential structure.

The owner must agree to construction standards for the residence and fee reimbursement requirements in the event that after five (5) years from the date of building final of the residence, the assessed value of the town's component of the property tax for the property must have increased by at least the amount of the fee waived. If so amount does not equal or is less, the owner shall be required to pay the difference within 30 days of notification by the Town.

Incentives The Town will not require the payment of any applicable impact fees or building fees.