City of El Paso finding ways to promote economic growth near Cohen Stadium

El Paso News

Overhauling Cohen Stadium has been in the planning stages for a while now. However, you can soon see the improvements in Northeast El Paso.

The site of Cohen is being prepared for development. Meanwhile, the wait is on as we wait for the stadium to be demolished. However, the city is working to promote even more economic development for the northeast in the future.

They are doing so with a TIRZ, also known as a tax increment reinvestment zone. This will allow the city to use taxes generated from the 96 acres that sit alongside Transmountain and Kenworthy to fund public improvements. Such as funding for things like sidewalks, street trees, and a lot of the public amenities. Which according to the City of El Paso, is something that the community of Northeast El Paso has been lacking. 

“Every year your taxes grow every year, right? So that growth on the city’s portion, for example, will be utilized in that area. And that is needed so that you can fund things like your sidewalks, your street trees, a lot of the public amenities that we need,” said Jessica Herrera the Director of City’s Economic and International Development. 

The site that Cohen sits on is owned by the City so it’s not generating any taxes. Zero dollars. … So all we are doing is we’re going to put together a boundary that could allow for us to develop.”

The development that the city is talking about includes new restaurants, entertainment options and office spaces that can be taxed in TIRZ. 

“That growth on the city’s portion, for example, will be utilized in that area,” Herrera said. “And that is needed so that you can fund things like your sidewalks, your street trees, a lot of the public amenities that we need.”

But the city wants your input on exactly what type amenities Northeast residents want to see. 

If you would like to give your input on Northeast development the city says they will soon be going out into the community. You can give your feedback through social media and by reaching out to your City Council representatives too. The El Paso City Council will be discussing further the use of the TIRZ at Tuesday’s meeting which started at 9 a.m. at City Hall. 
 

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