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Council expands Downtown Connection TIF and approves up to $103 million subsidy for Bank of America Plaza redevelopment
Summary
The Dallas City Council amended TIF boundaries and approved a development agreement committing up to $103 million in Downtown Connection TIF funds to support redevelopment of the Bank of America Plaza into a mixed-use project with hotel and retail components.
The Dallas City Council voted Oct. 22 to expand the Downtown Connection tax increment reinvestment zone and approved a TIF development agreement committing up to $103 million in TIF subsidy for the redevelopment of Bank of America Plaza (addresses including 900–909 Main and 901 Main).
The public-hearing discussion (PH 5) and the subsequent development-agreement vote (item 40) together amended the TIF’s geographic boundary to add roughly two acres and to allow the district to support the planned conversion and redevelopment of the 901 Main / 900 Main complex. The council considered…
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