Agenda - City of Dallas

Cityplace Area TIF District
FY 2011 Annual Report
Value and Increment Revenue Summary
The Cityplace Area TIF District’s 2011 assessed value, as determined by the Dallas
Central Appraisal District, was $477,922,738. This represents an increase of 960.5%
($432,857,396) over the base year (1992) and a 3.50% increase ($16,254,975) over the
previous year’s (2010) total assessed value.
FY 2008 was the final year of increment collection for the Cityplace TIF District. The
entire TIF Budget of $43,275,414 total dollars was satisfied with 2008’s partial
collection. FY 2011’s increment flowed directly to the City’s General Fund and other
participating taxing jurisdictions. In 2011, approximately $3.45 million in property tax
revenue will go the City’s General Fund instead of the Cityplace Area TIF District Fund.
Objectives, Programs, and Success Indicators
On November 11, 1992, City Council approved Ordinance No. 21465 which created Tax
Increment Financing Reinvestment Zone Number Two (Cityplace Area TIF District). The
Cityplace Area Tax Increment Financing District Project Plan and Reinvestment Zone
Financing Plan were approved by the City Council on August 11, 1993 (Ordinance No.
21769). The Project Plan was amended December 1993 (Ordinance No. 21031) and in
November 1996 (Ordinance No. 22959). The development objectives of the plan are:
• Complete a program of infrastructure replacement and enhancement to provide a
“foundation for development”.
• Encourage residential development, including apartments and townhouses.
• Provide opportunities for retail uses supporting neighborhood needs.
• Permit development of high-rise office/commercial/high-density residential use
buildings along the freeway frontages.
• Encourage high standards of environmental excellence throughout the area.
The public infrastructure improvements planned and constructed for the Cityplace Area
TIF District are designed to meet the long-term circulation, lighting, utility and physical
amenity needs of the area. Specific improvements include:
• Central Expressway Bridges
Construction was completed on this project in 2001.
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