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Sports Arena TIF Agenda

Sports Arena TIF Agenda

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Published by cityhallblog

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Published by: cityhallblog on Mar 23, 2012
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03/23/2012

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SPORTS
ARENA
TIFDISTRiCT
BOARDOF
DIRECTORS
MEE11NNOJCE,F
,
Reinvestment
Zone
Number
Seven,
City
of
Dallas,
Texas(Sports
Arena
Tax
lncrbrneiit
Financ;ng
District)
Date:
March26,
2012
Time:
12:00
pm
Location:
Daflas
City
Hall
5
h
Floor
Rm
5ES
AGENDA
1.
Callto
order.
2.
Review
andapprove
minutes
from
theFebruary
23,
2012,
Sports
Arena
TIE
District
Board
Meeting.
Recommended
action:
Approval.
3.
Review
anddiscussion
of
the
Tax
Increment
Financing
Reinvestment
Zone
Number
Seven
(SportsArena
TIF
District)
Amendedand
Restated
Project
and
Reinvestment
Zone
FinancingPlan
which
includes
the
following
plan
amendments:
Add
two
newsub-districts
within
the
Sports
Arena
TIE
District:
(1)
Riverfront
Gateway
Sub-district;and
(2)
West
Dallas
Sub-district.
Increase
thegeographic
area
of
the
Sports
Arena
TlFDistrictto
add
approximately
(1)
3.4
acres
to
the
Victory
Sub-District(generally
the
original
Sports
Arena
TIE
District
boundary);
(2)
33
acres
in
the
Riverfront
Gateway
Sub-district;
and
(3)
89.2
acres
in
the
West
Dallas
Sub-district.
Extend
thecurrent
termination
date
of
the
Sports
Arena
TIF
Districtfrom
December
31,
2012,
to
December
31,
2028,
for
the
Victory
Sub-district
and
establisha
termination
date
for
the
Riverfront
GatewayandWest
Dallas
Sub-
districts
of
December
31,
2042.
Decrease
the
percentage
of
tax
incrementcontributed
by
the
cityof
Dallas
during
the
extended
term
of
theSports
Arena
TIE
District
and
establishother
participating
taxing
jurisdictions
percentages.
increase
the
Sports
Arena
TIE
Districts
total
budget
from
$25,498,568
NPV
dollars(approximately
$46,961,785
totaldollars)
to
$94,409,005
NPV
dollars
(approximately
$273,599,175
total
dollars).
Create
an
Economic
Development
Grantprogram
within
the
TIE
District
and
adopt
guidelines
for
the
program.
Make
corresponding
modifications
to
the
Sports
Arena
TIF
Cistrict
Pfoject
Plan
andbudget
Recommended
Board
Action
Approval
and
Forwarda
recommendation
of
aDDroval
tO
City
Council

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