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Agenda - City of Dallas

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Exhibit A - Skillman Corridor TIF District<br />

FY 2011 Annual Report<br />

Value and Increment Revenue Summary<br />

The Skillman Corridor TIF District’s assessed 2011 <strong>City</strong> taxable value was<br />

$412,987,631 and varies for other taxing jurisdictions due to exemption levels. This<br />

represents an increase <strong>of</strong> $77,030,320 or 22.9% over the base year (2005) value and a<br />

3% increase over last year’s final value. The TIF District anticipates collecting<br />

approximately $653,489 in incremental tax revenue for tax year 2011. The anticipated<br />

RISD portion totals $28,701 and 30% or $8,610 will be earmarked for the RISD Facility<br />

Improvements TIF budget line item pursuant to RISD’s interlocal agreement with the<br />

<strong>City</strong>. The positive increase in the District's tax base can be attributed on an approximate<br />

percentage basis to added value <strong>of</strong> new construction (68% <strong>of</strong> the increase), major<br />

property transactions including sites under development (16%), and appreciating<br />

property values (15%) in the District.<br />

Objectives, Programs, and Success Indicators<br />

Among the goals <strong>of</strong> the Plan are:<br />

• To create additional taxable value attributed to new private investment in projects<br />

in the Skillman Corridor TIF District totaling approximately $592 million.<br />

Over $456 million in new investment is completed, underway or planned<br />

(77% <strong>of</strong> the goal).<br />

White Rock Place redevelopment –<br />

currently vacant retail space<br />

(above) and plan for residential<br />

conversion and consolidation <strong>of</strong><br />

viable retail spaces (right).<br />

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