Agenda - City of Dallas

Cityplace Area TIF District
FY 2011 Annual Report
Taxing Jurisdiction Participation
Taxing Jurisdiction participation in the District is as follows:
TIF Collection
Period
Start
Date
End
Date*
Participation
Level
Contribution to
TIF Fund (Total
dollars)
Participating Jurisdictions:
City of Dallas 16 years 1992 2008 100% $18,298,774
Dallas County 16 years 1992 2008 100% $5,397,044
DISD 16 years 1992 2008
$0.43087
per $100 $10,955,934
DCCCD 16 years 1992 2008 100% $1,838,952
DCHD 16 years 1992 2008 100% $6,253,322
INTEREST -- -- -- -- $531,388
TOTAL $43,275,414
TOTAL (NPV) $22,230.084
Note: All values are expressed in year FY 2008-2009 dollars using a discount rate of 5%. The legal TIF
life is set at no longer than 20 years, but total TIF funds were collected within 16 years, * End of
increment collections.
District Accomplishments
The Cityplace Area TIF District continues as a catalyst for development in the mixed
use neighborhood just north of downtown Dallas. West Village serves as the anchor of
shopping, entertainment and residential activity. With over 125,000 square feet of retail
space and 179 residential units and the Magnolia Theater, West Village provides all the
amenities necessary for the growth of surrounding properties. The Mondrian (opened in
2005) has 218 upscale apartments and 25,000 square feet of retail space. Borders
Book and Chase Bank (completed in 2004-05), and the completion of Gables West
Village (75 residential units, 18,000 square feet of retail) and Gables Cityplace West
(103 residential units, 28,000 square feet of retail) have stabilized.
During FY 2011, various amendments to the Cityplace Area TIF District Project Plan
and Reinvestment Zone Financing Plan were approved by City Council. These
amendments included increasing the Cityplace Area TIF budget by $531,388 total
dollars (interest earnings), increasing the Street, Utility, Intersection Improvements
Budget Line Item from by $531,388 total dollars.
The budget increase will allow the City to finalize infrastructure improvements on
several remaining sites: Cityville Cityplace, 2600 N. Haskell Avenue and Cityplace
Tract 6C, 3925 N. Central Expressway. Both projects were subsequently approved by
City Council on April 27, 2011. No additional increment collections were required to
fund the budget increase. Funds were available from interest earnings generated from
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