fy 2012-13 proposed capital improvement budget - City of Dallas

ECONOMIC DEVELOPMENT PROGRAMS AND INITIATIVES
Downtown Connection Tax Increment Financing District Initiated in
2005, the Downtown Connection Tax Increment Financing District provides a
long-term program to replace and upgrade the area’s infrastructure, fund
catalyst projects and create a vibrant downtown core district. The intent of
the program is to improve the economics for developing residential property
in the downtown core and creating a destination retail district that serves
downtown residents and visitors and supporting the office market. The TIF
will expire in 2036.
Farmers Market Tax Increment Financing District Initiated in 1998, the
Farmers Market Tax Increment Financing District has been instrumental in
stimulating private investment and leasing demand in the Farmers Market
area. The TIF will expire in 2013.
Fort Worth Avenue Tax Increment Financing District Initiated in 2007,
the Fort Worth Avenue Tax Increment Financing District provides a long-term
program to replace and upgrade the area’s infrastructure, support
redevelopment of structurally obsolete commercial development in the North
Oak Cliff area in order to foster the redevelopment of the Fort Worth Avenue
corridor between the Trinity River and west of Hampton Road. The TIF will
expire in 2029.
Grand Park South Tax Increment Financing District Initiated in 2005,
the Grand Park South Tax Increment Financing District provides funding for
environmental remediation, historic preservation and infrastructure
improvements in the area west of Fair Park and north of Martin Luther King,
Jr. Boulevard. The TIF will expire in 2036.
Infrastructure Support Provides funding for infrastructure support of
economic development and Neighborhood Investment Program projects in
Southern Dallas. It also provides funding for infrastructure support for transitoriented
development at Skillman/Walnut Hill
Maple-Mockingbird Tax Increment Financing District Initiated in 2008, the
Maple-Mockingbird Tax Increment Financing District provides funding for
environmental remediation and infrastructure improvements in the area
between Dallas Love Field Airport and the Southwestern Medical District.
The TIF will expire in 2033.
Oak Cliff Gateway Tax Increment Financing District Initiated in 1992, the
Oak Cliff Gateway Tax Increment Financing District promotes the
redevelopment, stabilization, and growth of the Oak Cliff Gateway TIF District
area. The TIF will expire in 2022.
Cypress Waters Tax Increment Financing District Initiated in 2011, the
Cypress Waters Tax Increment Financing District promotes the
redevelopment, stabilization, and growth of the Cypress Waters TIF District
area. The TIF will expire in 2040.
Professional Services and Debt Issuance Provides funding for certain
costs associated with capital improvement projects. These costs include
studies and long-range plans, debt issuance costs, and reimbursements to
the General Fund for professional staff services such as design, survey, land
acquisition fees and engineering. Debt issuance and CIP Engineering costs
are paid from the interest earned on bond proceeds.
Public Art Includes the public art initiatives throughout the City of Dallas.
Funds generated by Public Art appropriations are used for the design
services of artists, for the selection, acquisition, commissioning and display
of artworks and for administration of the public art projects.
Public Private Partnership This program provides a funding source for
qualified business related projects to facilitate private investment and job
creation and real estate development in the City of Dallas. Funds are
primarily targeted for business and other development projects occurring in
Southern Dallas, the City’s Enterprise Zones, targeted industries and transit
oriented development. Eligible expenditures include economic development
grants to offset infrastructure costs, development fees and other associated
development costs for certain qualifying projects through special
programmatic provisions.
Skillman Corridor Tax Increment Financing District Initiated in 2005, the
Skillman Corridor Tax Increment Financing District provides a long-term
program to replace and upgrade the area’s infrastructure, fund environmental
remediation in order to support redevelopment of structurally obsolete
apartments and commercial development in the Skillman Corridor area
between Caruth Haven and LBJ Freeway. The TIF will expire in 2036.
Neighborhood Revitalization Initiatives Funding for developer fee rebates
and housing construction cost participation.
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