Agenda - City of Dallas

Exhibit A - Fort Worth Avenue TIF District
FY 2011 Annual Report
• On September 28, 2011, Council approved Resolution 11-2555 45 authorizing
the sale of approximately 4,490 square feet of City-owned land located near the
intersection of Sylvan Avenue and Interstate Highway 30 to the Texas
Department of Transportation - Revenue: $67,350
Pending TIF Items
The Fort Worth Avenue TIF District is expected to review the following items during FY
2011-2012:
• FY 2011 Annual Report for the Fort Worth Avenue TIF District
• A TIF funding application for Sylvan|Thirty
• A TIF funding application for The Collective
• General TIF district design guidelines
• Affordable housing policy
• Amendments to the by-laws relating to membership and design review
Budget and Spending Status
Each TIF district, in the Project Plan and Reinvestment Zone Financing Plan,
establishes a budget for the public improvement expenditures necessary to support
private investment in the district. The Fort Worth Avenue TIF District was established in
June 2007 and collected $106,164 in FY 2011. It is anticipated to collect approximately
$157,698 in FY 2012.
The Fort Worth Avenue budget and spending to date is shown below.
Fort Worth Avenue TIF District
Projected Increment Revenues to Retire TIF Fund Obligations*
Category TIF Budget Allocated Balance
Public infrastructure improvements: paving,
streetscape, water/wastewater, storm sewer, utility $80,093,760 $116,000 $79,977,760
burial/relocation, and land acquisition
Affordable housing $10,748,015 $0 $10,748,015
Environmental remediation & demolition $12,897,617 $0 $12,897,617
Parks, open space, trails, and gateways $12,897,617 $0 $12,897,617
Façade restoration $6,448,809 $0 $6,448,809
Economic development grants $21,496,030 $0 $21,496,030
Administration and implementation $4,334,643 $208,263 $4,126,380
Total project costs $148,916,491 $324,263 $148,592,228
*Budget shown above in current dollars, updated yearly; TIF Project Plan shows the budget in net present value.
Values above do not include interest payments or receipts.
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