Agenda - City of Dallas

Exhibit A - TOD TIF District
FY 2011 Annual Report
• To improve access and connections between DART light rail station areas and
strategic Dallas area amenities such as the campus and future research facilities
of Southern Methodist University, the Bush Presidential Library, the Trinity River,
Southside on Lamar, and the heart of Cedars to the Convention Center area,
Dallas Zoo, Cedar Crest Golf Course, and Veterans Memorial Hospital.
The planned Mockingbird Plaza Sustainable Development Project and
2006 bond program public improvements will facilitate better pedestrian
connectivity along SMU Boulevard and to the Mockingbird DART Station.
Connections will be improved for this area in close proximity to Southern
Methodist University and the planned Bush Presidential Library.
Improvements planned as part of the Lancaster Urban Village will improve
connectivity to the Veterans Memorial Hospital and DART station.
• To increase recreational opportunities and improve connections to the City of
Dallas trails and open space system in the District.
Mockingbird Plaza Sustainable Development Project improvements will
provide for a walking and bicycle trail between SMU Boulevard and the
Mockingbird DART station. An extension of the Katy Trail improvements,
with City bond funds, in the Mockingbird area was in the property
acquisition and initiating construction phase in FY 11. Staff will continue to
work with the Park and Recreation Department and other entities to
address park and trail needs as the District evolves.
• To maintain the stability of local schools as redevelopment occurs in the housing
market and promote improved training and job creation through partnerships with
Southern Methodist University, Dallas County Community College District, the
VA Hospital, Urban League, and the future University of North Texas Law
School.
Redevelopment projects thus far have primarily involved vacant or
underutilized commercial sites. A partnership with the Urban League and
coordination with the VA Hospital has begun as part of the Lancaster
Urban Village project. Partnerships with Southern Methodist University
and Dallas County Community College District can also continue to be
explored in FY 2012.
• To generate approximately $185.2 million (NPV; 2009 dollars) in increment over
28 years of collections, with up to 85 percent participation by the City and 55
percent participation by Dallas County.
Taxable value for the District for 2011 declined by $16,893,030 or -8.4%
over the amended base year (2008 and 2010) value. 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.
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