Agenda - City of Dallas

Grand Park South TIF District
FY 2011 Annual Report
Pending TIF Items
Pending items for the Grand Park South TIF District include the following:
• Approval of the FY 2011 Annual Report
• Utilization of TIF funding to secure the District’s initial redevelopment project
• Approval of the Grand Park South TIF District Mixed Income Housing Policy
• Review changes to the Grand Park South TIF District By-Laws concerning
potential changes in the composition of the District’s Board of Directors and
design review process
Budget and Spending Status
The Grand Park South TIF District’s Project Plan and Reinvestment Zone Financing
Plan established a budget for public improvement expenditures that are necessary to
support private investment. Even so the economy and financial constraints prohibited
new private development from occurring within the District during the fiscal year.
The District’s budget and spending to date are provided below:
Grand Park South TIF District
Projected Increment Revenues to Retire TIF Fund Obligations
Category
TIF Budget
(Total Dollars)
Allocated
Balance
Infrastructure Improvements $51,206,667 $0 $51,206,667
Environmental Remediation $5,084,349 $0 $5,084,349
Façade Restoration $3,813,263 $0 $3,813,263
Parks, Open Space and Signature Entries $7,263,357 $0 $7,263,357
Grant and Loan Program $1,089,503 $0 $1,089,503
Administration and Implementation* $4,176,431 $170,915 $4,005,516
Total Project Costs $72,633,570 $170,915 $72,462,655
* Administrative cost is based on actual hours worked on TIF related activities by City staff.
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