Downtown TIF Board Expands Free Parking Program
October 29,2014
TIF Board has assured Downtown will continue to have over 3,300 free evening and weekend parking spaces for the remaining life of the TIF District.
Fort Worth, TX - The Downtown TIF Board voted Wednesday to extend leases for Downtown Fort Worth's free public parking program. The new leases will include 3,311 spaces in the 777 Main North Garage and Sundance Square Garages #1, #2, and #3. These leases run until the expiration of the TIF District on December 31, 2025.
Sundance Square Management, in exchange for funds that the Downtown TIF is currently obligated to pay over the next four years, agreed to provide 2,311 free parking spaces in the three Sundance Square garages until December 31, 2025.
In addition, the TIF Board has negotiated a new lease agreement with Cousins Properties at the 777 Main North Garage, which is currently available only for Bass Hall patrons on performance nights. The new agreement provides 1,000 parking spaces available every night and weekends to the general public, extending through December 31, 2025. During especially high use events, such as the XTO Energy Parade of Lights or the MAIN Street Fort Worth Arts Festival, ticketed patrons of live performances, such as those at Bass Hall, Jubilee Theatre and Four Day Weekend, will receive preference for the 777 Main garage spaces.
With these two agreements, the TIF Board has assured Downtown will continue to have over 3,300 free evening and weekend parking spaces for the remaining life of the TIF District. Downtown parking locations can be found by visiting www.FortWorthParking.com, a website funded by the Downtown TIF and partners; Fort Worth Convention and Visitor’s Bureau, Fort Worth Stockyards and the City of Fort Worth.
777 Main Garage Lease Terms
Duration of Lease Until December 31, 2025
Spaces Provided 1,000 spaces for free public parking in the 777 Main North garage
Free Parking Hours Monday through Friday 6:00 PM - 1:00 AM; Saturday and Sunday 10:00 AM - 1:00 AM
Special Events Performing Arts Fort Worth may give priority to ticketed patrons of live performances within one mile of the garage during events such as the XTO Energy Parade of Lights or MAIN Street Arts Festival.
Sundance City Center (#1 & #2) and Chase Bank Garage Lease Terms
Duration of Leases Until December 31, 2025
Spaces Provided Over 2,300 spaces for free public parking in the Sundance # 1, # 2, and # 3 Garages
Free Parking Hours Monday through Friday 6:00 PM - 3:00 AM and all weekend
About the Downtown TIF
The Downtown TIF is administered by Downtown Fort Worth, Inc. through a contract with the TIF Board of Directors. In 1996, the Downtown Tax Increment Financing District (TIF) was established as a collaborative effort of Downtown Fort Worth, Inc., the City of Fort Worth, Fort Worth Independent School District, Tarrant County, Tarrant County College District, and the Tarrant Regional Water District. The TIF is managed by Downtown Fort Worth, Inc. and has funded a wide variety of projects and initiatives, from downtown utility relocation and free parking to streetscape and facade improvements.
About DFWI
Downtown Fort Worth, Inc. is a 501(c)(6) non-profit membership organization dedicated to transforming Downtown into a vibrant place to live, work, visit, shop and play through leadership, programs, projects and partnerships. www.dfwi.org
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