Agenda - City of Dallas

Exhibit A - TOD TIF District
FY 2011 Annual Report
Value and Increment Revenue Summary
The TOD TIF District’s assessed 2011 City taxable value was $185,181,491 and varies
for other taxing jurisdictions due to exemption levels. This represents a decrease of
$16,893,030 or -8.4% over the base year (2008 and 2010) value, as amended. The TIF
District anticipates no incremental tax revenue collection for tax year 2011. The largest
decline in value occurred with land and industrial properties in the Cedars West area
and a modest decline in the Mockingbird/Lovers area related to demolition and lingering
impacts of the economic downturn on commercial properties. There was an overall 5%
increase in value in the Lancaster Corridor area.
Objectives, Programs, and Success Indicators
The final TOD TIF Project Plan and Reinvestment Zone Financing Plan was adopted in
April 2010. Among the goals of the Plan are:
• To create additional taxable value attributable to new private investment in
projects in the TOD TIF District totaling approximately $2,431,000,000
Over $98 million in new investment is underway or planned (3.8% of the
goal).
• To attract higher density new private development in the TOD TIF District totaling
approximately 2,480,000 square feet of new or upgraded retail and office space
and 13,900 residential units, including townhome, multi-family, and single-family
projects.
138,951 square feet of new and upgraded retail space and 46,568 square
feet of office space is underway or planned (7.5% of the goal).
Approximately 845 residential units are under construction or planned (6%
of the goal).
Fiji/Compton Phase I - Sphinx at Fiji Seniors opened this year. The groundbreaking
ceremony held in February 2011, was attended by various elected officials, City staff, and
other partners that assisted Sphinx Development Corporation with the project.
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