04/30/2026
The Bonham City Council and Fannin County Commissioners Court have overwhelmingly approved the joint creation of a new Tax Increment Reinvestment Zone (TIRZ), TIRZ #3, which represents a major step in spurring accelerated, strategic redevelopment in the community.
The primary focus areas of TIRZ #3, which is located entirely within Bonham city limits, include:
- Downtown Bonham revitalization
- Redevelopment along major transportation corridors, including Highways 56, 78, 82, and 121
- Enhancement of key gateways and entry points
Among the many types of beneficial infrastructure improvements that could be funded from the TIF are sidewalks, trails, pedestrian bridges, roadways, utilities, landscaping, streetscape improvements, and monument and wayfinding signage.
“We are deeply appreciative of the collaborative effort between the City and County to study and establish this powerful tool,” said Bonham Economic Development Corporation (BEDCO) Executive Director William Myers. “TIRZ #3 will contribute to the achievement of our shared economic development objectives, which include realizing our Downtown Master Plan vision, while also attracting and incentivizing quality projects that meet our community’s needs. The creation of a 30-year TIRZ also makes a powerful statement about Bonham’s serious, long-term commitment to maximizing the once-in-a-generation opportunities downtown and along our high-visibility corridors. These are the areas that our residents and visitors experience the most, so we have to establish a community vision and get this right.”
Importantly, the creation of the TIRZ does not change any tax rate and will not take away money from either entity to fund ongoing maintenance or general operations. Ultimately, the TIRZ is designed to benefit local residents by spurring valuable economic development that enlarges the commercial tax base, supporting the future delivery of essential public services and community amenities.
Click the following link for the entire release -
https://cityofbonham.org/m/newsflash/home/detail/163
