Agenda - City of Dallas

Exhibit A
City Center TIF District
FY 2011 Annual Report
Value and Increment Revenue Summary
The base value of the zone is the total appraised value of all taxable real property in the
District as determined by the Dallas Central Appraisal District on the certified roll for the
base year, with adjustments made to accommodate boundary amendments. The
adjusted base year value of the district is $866,044,996. The City Center TIF District’s
assessed tax value in 2011 was $1,170,176,925. This represents an increase of
$293,986,860 (33.55%) over the adjusted base year value.
The district’s value decreased by $14,535,189 (1.2%) from the previous year. This
decrease will result in an estimated collection of approximately $2,624,564 in
incremental revenue for the City Center TIF District.
Objectives, Programs, and Success Indicators
On February 12, 1997, the Dallas City Council adopted Ordinance Number 23034 which
approved the City Center Tax Increment Financing District Final Project Plan and
Reinvestment Zone Financing Plan, as amended. The goals of the plan are as follows:
• Make the City Center area a safer place to live and work
• Improve access to the City Center area
• Improve the image of the City Center area
• Take advantage of the existing building stock
• Develop a diverse mix of land uses within the City Center area
• Increase recreational opportunities in the City Center area
The following objectives and actions items set the framework for the planned public
improvements within the City Center TIF District:
• Improve street and pedestrian lighting within the City Center TIF District.
Improvements to five north/south streets (Field, Akard, Ervay, St. Paul and
Harwood Streets to the Transit Mall) were completed in 2008. An extension of
the north/south improvement project (from the Transit Mall to Ross Avenue) was
also completed in 2008. These improvements included widened sidewalks,
street repaving, street furniture, lighting, new crosswalks and street trees.
• Improve the pedestrian environment through landscaping, lighting and design
standards for surface parking lots.
Ordinance No. 25487 approved by City Council on January 28, 2004 required
commercial parking garages and surface parking lots to comply with certain
parking lot enhancements such as improved lighting, stripping and landscaping.
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