PILLAR: Growing
AGENDA DATE: February 25, 2026
COUNCIL DISTRICT(S): 14
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 Five (City Center 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 unit that levies taxes on real property in the zone as well as the State Comptroller. On June 26, 1996, the City Council authorized Ordinance No. 22802, as amended, establishing Tax Increment Financing Reinvestment Zone Number Five (City Center TIF District). On February 12, 1997, the City Council authorized the Project Plan and Reinvestment Zone Financing Plan for this District by Ordinance No. 23034, as amended.
On December 31, 2022, the City Center Sub-District of the City Center TIF District expired, leaving the Lamar Corridor/West End Sub-District as the only remaining active sub-district within the City Center TIF District. Since final increment collection in 2023, no incremental revenue has been collected from the City Center Sub-District.
The 2025 certified assessed taxable value for the Lamar Corridor/West End Sub-District of the City Center TIF District was $295,851,290.00. This represents an increase of $198,755,680.00 (204.7%) over the 2012 base year taxable value of $97,095,610.00 and a decrease of $35,543,700 (-10.7%) from the prior year’s final taxable value of $331,394,990.00. The increase in taxable value over the base year will result in an estimated collection in 2026 of approximately $1,484,068.00 (City $1,250,014.00; County $234,054.00) in incremental revenue.
PRIOR ACTION/REVIEW (COUNCIL, BOARDS, COMMISSIONS)
On June 26, 1996, the City Council authorized the establishment of Tax Increment Financing Reinvestment Zone Number Five, the City Center TIF District by Resolution No. 96-2248; and Ordinance No. 22802, as amended.
On February 12, 1997, the City Council authorized the Project Plan and Reinvestment Zone Financing Plan for the City Center TIF District, as amended by Resolution No. 97-0484; and Ordinance No. 23034, as amended.
On February 9, 2026, the City Center TIF District Board of Directors recommended that the FY 2024-2025 Annual Report be accepted and approved.
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.