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DRAFT 03.11.99 <br />7. Economic Feasibility Study <br />An independent economic research firm, conducted a market demand /economic <br />feasibility analysis of the proposed residential land uses within the proposed TIRZ. In <br />1997 Horwath Hospitality Consulting provided the City with a market study relating to <br />the above project. The market study provides an excellent analysis of the total project. <br />The overall results indicate a strong demand and success for such a project. <br />S. Duration Of The Zone <br />The proposed TIRZ shall remain in effect until the earlier of December 31, 2031 or the <br />date on which the Final Plan has been implemented and all project costs, tax increment <br />bonds, interest on such tax increment bonds and all other obligations, contractual or <br />otherwise, payable from the tax increment collected on the captured appraised value of <br />the property within the TIRZ have been paid in full. <br />Preliminary Reinvestment Zone Financing Plan <br />La Porte, Texas <br />