PILLAR: Growing
AGENDA DATE: February 25, 2026
COUNCIL DISTRICT(S): 1, 6
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 Fifteen (Fort Worth Avenue 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 13, 2007, the City Council authorized Ordinance No. 26798, as amended, establishing the Fort Worth Avenue TIF District. On March 26, 2008, the City Council authorized the Project Plan and Reinvestment Zone Financing Plan for this District by Ordinance No. 27129, as amended.
The adjusted base year taxable value is $558,406,007.00. The Fort Worth Avenue TIF District's 2025 assessed taxable value was $1,474,261,288.00 (Dallas County assessed value varies due to exemption levels). This represents an increase of $915,855,281.00 (164.00%) over the combined base year values (2007 and 2023) and $9,471,496.00 (0.65%) increase over the 2024 final taxable value. With the City and County's participation, the increase over the TIF District's base values will result in the collection of approximately $5,565,515.00 in total incremental revenue in 2026 (2025 tax year)...
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