The Big Spring City Council took another step Tuesday night in a long-running effort to spur development near the city's airport corridor, holding first reading of an ordinance that approves a project and financing plan for Tax Increment Reinvestment Zone Number Two.

The measure is part of a process authorized under Chapter 311 of the Texas Tax Code and lays out how future tax revenue growth in the designated area would be collected and reinvested to support infrastructure tied to new development.

City officials and the city's consulting team said the zone-established through earlier action-now enters its second major phase: formal approval of the financing framework that will guide how tax increment dollars are used over the life of the district.