PILLAR: Growing
AGENDA DATE: February 25, 2026
COUNCIL DISTRICT(S): 8, 12
DEPARTMENT: Office of Economic Development
PRIORITY: Targeted Economic Growth
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SUBJECT
Title
A resolution accepting the FY 2024-2025 Annual Report on the status of Tax Increment Financing Reinvestment Zone Number Twenty-One (University TIF District or District) and authorizing the City Manager to submit the annual report to the Chief Executive Officer of each taxing jurisdiction that levies taxes on real property in the District and to the State Comptroller, as required by state law - Financing: No cost consideration to the City
*In alignment with Economic Development Incentive Policy.
Body
BACKGROUND
State law (the Tax Increment Financing Act, Texas Tax Code, Section 311.016, as amended) requires that the City Council as the City’s governing body submit an annual report on the status of each reinvestment zone it has created to the Chief Executive Officer of each taxing jurisdiction that levies taxes on real property in the zone as well as to the State Comptroller.
On December 13, 2017, the City Council authorized the establishment of Tax Increment Financing Reinvestment Zone Number Twenty-One (University TIF District) by Ordinance No. 30733, as amended. On December 9, 2020, the City Council authorized the Project Plan and Reinvestment Zone Financing Plan for this District by Ordinance No. 31713.
The University TIF District’s assessed 2025 taxable value was $465,461,171.00 (and varies for other taxing jurisdictions due to exemption levels). This represents an increase of $415,686,729.00 or 835.1% over the base year taxable value. With the participation of the City, this increase in taxable value will result in the collection in 2026 of approximately $2,614,337.00 in incremental revenue for the University TIF District for the 2025 tax year.
PRIOR ACTION/REVIEW (COUNCIL, BOARDS, COMMISSIONS)
On December 13, 2017, the City Council authorized the establishment of Tax Increment Reinvestment Zone Number Twenty-One, the University TIF District by Resolution No. 17-1941; and Ordinance No. 30733, as amended.
On December 9, 2020, the City Council authorized the Project Plan and Reinvestment Zone Financing Plan for this District by Resolution No. 20-1894; and Ordinance No. 31713.
The Board of Directors of the University TIF District does not currently have the minimum five appointed members to convene a meeting; therefore, the FY 2024-2025 Annual Report is being forwarded to City Council without a Board recommendation. State law does not require Board action.
The City Council was briefed by memorandum regarding this matter on February 6, 2026. <https://dallascityhall.com/government/citymanager/Documents/FY25-26%20Memos/Upcoming%20Agenda%20Items%20FY%202024-2025%20Tax%20Increment%20Financing%20(TIF)%20District%20Annual%20Reports.pdf>
FISCAL INFORMATION
No cost consideration to the City.