Agenda - City of Dallas

Exhibit A
City Center TIF District
FY 2011 Annual Report
Mission Statement
The mission of the City Center TIF District is the promotion of the redevelopment,
stabilization, and growth of the downtown area. An accompanying goal is the
stabilization and growth of the value of the area’s tax base and a positive reversal of
urban decay.
The Dallas City Council established the City Center TIF District by Ordinance Number
22802 on June 26, 1996. The City Center TIF District took effect on January 1, 1997,
and will terminate on December 31, 2012, (including collection of the 2012 increment in
calendar year 2013 and any related matters to be concluded in 2013) or when the
budget of $61.3 million (1997 dollars) has been collected. The City of Dallas and Dallas
County are the two remaining participating jurisdictions. The City’s participation is 90%,
and the County’s participation is 53%.
District Accomplishments
In a little over ten years, the City Center TIF District has been an instrumental part in
creating a positive investment climate in the historic downtown core. From the inception
of the TIF District through FY 2011, twenty-six projects have generated approximately
$543 million in new investment.
The City Center redevelopment projects listed on the following pages have created:
• 2,336 residential units
• 2,418 hotel rooms
• 287,600 square feet of retail space
• 174,000 square feet of office space
Thompson Building
Wilson Building
Magnolia Hotel
Interurban Building
Joule Hotel
Gulf States Building
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