Agenda - City of Dallas

Exhibit A - Design District TIF District
FY 2010-2011 Annual Report
Value and Increment Summary
The Design District TIF District’s assessed 2011 taxable value was $274,678,552. This
represents an increase of $132,826,490 or 93.6% over the base year (2005) value and
a slight decline (-0.8%) over last year’s final value. The TIF District anticipates collecting
approximately $1,130,360 in incremental tax revenue for tax year 2011. The positive
increase in the District's tax base can be attributed on an approximate percentage basis
to new construction (75% of the increase), property transactions (5%), and appreciating
property values (21%) in the District.
Objectives, Programs, and Success Indicators
The final Design District Project Plan and Reinvestment Zone Financing Plan was
adopted in April 2006. Among the goals of the Plan are:
• To create additional taxable value attributed to new private investment in projects
in the Design District TIF District totaling approximately $1 billion.
$159 million in new investment is underway or planned (16% of the goal)
• To attract new private development in the District totaling approximately 1.4
million square feet of retail space, 2.4 million square feet of office space, 550
hotel rooms, and 4,200 new residential units.
Approximately 970 apartments, 185,703 square feet of new or upgraded
retail/showroom space, 11,000 square feet of gallery space, 28,000 square feet
of office space and 2,500 square feet of arts space have been completed.
Another 314 residential units and 29,000 square feet of retail are planned. (31%
of the residential, 15% of the retail, and 1% of the office goal.)
Camden Design District, 1551 Oak Lawn Ave.
Alta Design District, 1531 Inspiration Dr.
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