Agenda - City of Dallas

Exhibit A - Davis Garden TIF District
FY 2011 Annual Report
– Increase Administration and Implementation from $1,148,008 to
$1,877,595
– Add a budget category to the TIF Project for The Canyon in Oak
Cliff in an amount of $46,035,132 (in 2008 dollars
6. Separated future revenues from property that comprises the Canyon Master
Development Plan (sub-area A) from revenues generated from property within
the remainder of the District (sub-area B). The revenues generated from
subarea A will be used to:
Fund some outstanding TIF obligations (e.g. the $4 million for the
development agreement with SLF)
The Kessler Theater Renovation project
All infrastructure reimbursements for the Canyon area.
The separation allows the city to insure that TIF increment generated outside
sub-area A will not be used for the reimbursement of TIF eligible expenditures for
the Canyon in Oak Cliff project.
7. Modified the allocation of tax increment to the Affordable Housing category. Prior
to the authorization of this amendment, 20% of the remaining annual tax
increment that the District received after paying administrative expenses was set
aside for affordable housing. Moving forward, the direct allocation of tax
increment to the Affordable Housing category will discontinue for Subarea A once
the Taylor Farms and Hillside West projects’ TIF obligations have been
reimbursed. Subarea B will continue contributing to the category.
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