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Agenda - City of Dallas

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Sports Arena TIF District<br />

Exhibit A - FY 2011 Annual Report<br />

Mission<br />

The <strong>City</strong> <strong>of</strong> <strong>Dallas</strong> created the Sports Arena TIF District in 1998 to redevelop the<br />

area around the American Airlines Center. At that time, it was determined that this<br />

development and redevelopment would not have occurred solely through private<br />

investment, in a timely manner.<br />

The <strong>City</strong> Council <strong>of</strong> the <strong>City</strong> <strong>of</strong> <strong>Dallas</strong> created Reinvestment Zone Number Seven<br />

and established the Zone’s Board <strong>of</strong> Directors on October 28, 1998. The Sports<br />

Arena TIF District took effect on January 1, 1999. The District’s base year (1998)<br />

assessed tax value is $16,423,773.<br />

The <strong>City</strong> Council <strong>of</strong> the <strong>City</strong> <strong>of</strong> <strong>Dallas</strong> approved the Project Plan and Reinvestment<br />

Zone Financing Plan on August 25, 1999, and authorized participation agreements<br />

with DISD, <strong>Dallas</strong> County and the <strong>Dallas</strong> County Hospital District. The <strong>City</strong> then<br />

secured TIF participation from each <strong>of</strong> these entities.<br />

District Accomplishments<br />

Since its inception, the Sports Arena TIF has seen approximately $543 million in<br />

new development completed by the end <strong>of</strong> 2011.<br />

Victory Park Master Plan<br />

Plan: Hillwood Development<br />

4

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