City Council Reviews TIF Boundary Expansion and Extension Plan Ahead of Fall Vote

The Colleyville City Council convened on September 3, 2025, for a work session focused on the potential extension and expansion of the Tax Increment Financing (TIF) district. This meeting served as a continuation of previous discussions, with plans for formal consideration of the TIF extension set for October and November.

David Pettit, a representative from the tax consultant group, presented a detailed overview of the proposed changes to the TIF boundaries. The council is considering expanding the TIF to include various non-contiguous areas and corridors, with a new base year set for 2025. The proposed extension would last 25 years, extending the term to 2055, while maintaining the city's participation at 100% of its real property increment.

Pettit highlighted the importance of the TIF as a financial tool for the city, noting that the majority of revenue generated would continue to come from the existing base. He outlined several key areas for potential redevelopment, including locations near McDonwall School Road and Precinct Line, as well as areas adjacent to the city park and recreation center. The proposed corridors for infrastructure improvements were also discussed, emphasizing the need for enhancements to roads, water, and drainage systems.

The council plans to amend the project and financing plan to reflect these changes, which include an increase in project costs. The anticipated taxable value from new developments is projected to reach approximately $344 million by 2035, with an estimated $147.6 million generated for TIF projects during the extension period.

Next steps include a public hearing scheduled for October 8, followed by a second reading on October 21. The TIF board meeting is set for November 5, where the amended project and financing plan will be recommended for approval. The council aims to finalize the extension and boundary changes by mid-November, ensuring continued investment and development in Colleyville.