$13 million of TIRZ funds to be pumped into Killam's Mission master planned community project

MISSION, Texas - Cliffe Killam, president & CEO of Killam Development, says he is excited to “work with community stakeholders and empower them to help continue to make great things happen in Mission, Texas.”Killam give an exclusive interview to the Rio Grande Guardian recently about the 3,400-acre master planned community his company is building in south Mission. The interview is contained in the attached podcast.“This community has been incredibly welcoming, and they are excited about the potential for attracting new restaurants and entertainment and creating a unique neighborhood custom designed for them,” Killam said.Killam Development is a private, family-owned business that has been serving South Texas for more than 100 years. Based in Laredo, Texas, the company is involved in the oil and gas industry, real estate development, ranching, and investments.Killam Development acquired the 3,400-acre property in 2019. The property straddles the City of Mission and the City of McAllen and includes areas near Anzalduas Bridge.In his interview with the Rio Grande Guardian, Killam discussed a new aspect to the project: a decision by the City of Mission and Mission Economic Development Corporation to transfer beneficiary ownership of Tax Increment Reinvestment Zone funds designated for 180 acres on the property.Killam said thanks to the TIRZ agreement, $13 million will be invested in Phase I of the project in order to build new roads, water and wastewater infrastructure. According to a news release issued by Killam Development, the property within the City of Mission had an existing TIRZ, established in 2001 with the previous property owner, Hunt Valley Development. The TIRZ allowed for $35 million in investment over 30 years. Of that, approximately $22 million has been invested in infrastructure for construction of lift stations and water and wastewater infrastructure.“Because of the business-friendly climate and that this undeveloped property in Mission had this infrastructure in place and an additional capacity of approximately $13 million, we saw a clear opportunity to make a long-term investment in the community,” Killam said. “The TIRZ is important because it will give us the confidence to invest in critical infrastructure for our phase 1 that will enhance quality of life and economic opportunity in Mission. We are grateful for the support and excited to break ground on construction this year.”Editor's Note: To read the full story go to the Rio Grande Guardian website.Go to www.riograndeguardian.com to read the latest border news stories and watch the latest news videos.