Nueces County officials now have $2 million in committed tax incentives to offset the cost of demolishing downtown’s 1914 courthouse.
The allocation follows several months of turbulence over approval of the funding, as county and Corpus Christi city officials worked out a deal to set aside the money, drawn from downtown’s tax increment reinvestment zone.
In a tax increment reinvestment zone, taxing entities agree to contribute a certain percentage of new or increased property taxes that would otherwise be collected within a certain area to a pool of funding that is then used to improve the same area…