Update: TIF

December 19,2011

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A change in state law in June, 2011 reorganized the membership of the Downtown TIF Board.  Formerly, the City of Fort Worth made five appointments to the nine-member Board, with three of those traditionally being private property owners.  The legislative change reduced the city’s appointments to two members, and provided each of the other participating local governments with one nominee each.  By November, four continuing Board members and five new Board members had been confirmed by resolution of the Fort Worth City Council.

 

TIF Board Members:

Chairman: Zim Zimmerman (Fort Worth City Council)

Charles Boswell (State Sen. Wendy Davis)

Roy C. Brooks  (Tarrant County)

Lon Burnam (State Rep.)

Joel Burns (Fort Worth City Council)

Linda Christie (Tarrant Regional Water District)

Mark McClendon (Tarrant County College District)

Scott Rule (Tarrant County Hospital District)

Dr. Carlos Vasquez (Fort Worth ISD)

 

Downtown TIF Financial Outlook:

$72 million lifetime cap  

$5 million annual  TIF cap

An additional $7.2 million in tax increment will be retained by  the taxing entities in FY 2012

The TIF has reserves of $8 million, and about $14.8 million remains unobligated under the $72 million cap

 

For more information about the Tax Increment Financing District, please contact Jim Johnson, Director of Downtown Development/TIF District, at 817.870.1692 or by email at jim@dfwi.org.