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Dallas Cohousing Message Board › Cedars Area TIF--Redevelopment Requirements

Cedars Area TIF--Redevelopment Requirements

Angela
AngelaAlston
Group Organizer
Dallas, TX
Hi everyone--

Here's lots of information about the TIF for the Cedars.

I'm hoping some of you will be able to attend the meeting with the City.

We'll let you know as soon as it's scheduled.

In the meantime, please visit the Dallas Cohousing website to see plenty of info about what Hugh and I have been thinking about. We look forward to developing the vision with your input!

best,

Angela

 

SUMMARIES:

Cedars Tax Increment Financing (TIF) District
Cedars TIF District is located directly south of downtown, near the Farmers Market, the Convention Center, and Dallas City Hall. The District was created in 1992 to enhance the real estate market and encourage new investment by providing a source of funding for public amenities and infrastructure improvements in the neighborhood.

Tax Increment Financing Districts (TIFs)
A Tax Increment Financing district is a special purpose district; a way for the City of Dallas to reinvest added tax revenue from new development back into the area where it originated. The TIF program is used to finance new public improvements in designated areas. The goal is to stimulate new private investment and thereby increase real estate values. Any increase in tax revenues (caused by new development and higher property values) is paid into a special TIF fund to finance improvements. Potential improvements include wider sidewalks, utilities, public landscaping, lighting,  environmental remediation, demolition, and historic façades etc.

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