Agenda - City of Dallas

Exhibit A - Skillman Corridor TIF District
FY 2011 Annual Report
• To increase recreational opportunities and improve connections to the City of
Dallas trails and open space system in the District.
The 20 acres of park and trails as part of the LHTC has been completed
and was conveyed to the City in March 2011; however, maintenance of
the park space will be handled private and/or by the Lake Highlands
Public Improvement District (PID). The NCTCOG Regional Transportation
Council (RTC) has also approved funding to expand the hike and bike trail
south from the LHTC to the existing White Rock Creek Trail (at Skillman,
north of Abrams).
LHTC park land and trail
• To generate approximately $49.7 million (net present value) in increment over 20
years of collections.
The District’s 2011 total taxable value of $412,987,631 is approximately
28% behind the original projection of $577,893,625. The economic
downturn has impacted the pace of new construction and existing property
values. Current projections show total collections completed by 2029.
• To diversify retail and commercial uses in the District.
Upgrades were made at the Kingsley Square and Medallion Center. A Wal
Mart Supercenter was completed in 2008 and the Timbercreek Crossing
development had Wal Mart/Sam’s Club and J.C. Penney anchor openings
this year.
Timbercreek Crossing – anchor stores opened and remaining
construction is underway.
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