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Council hears DART proposal to share sales-tax increment with cities for transit-linked TIFs
Summary
City staff outlined a proposed Dallas Area Rapid Transit interlocal agreement that would let DART contribute a share of its sales-tax increment to qualifying city TIF districts that are served by a DART transit anchor, with the city required to match DART’s contribution.
City Manager Chris Hellman described on May 29 a draft interlocal agreement (ILA) DART has proposed to permit the transit agency to contribute part of its 1¢ local sales tax increment to municipal tax-increment reinvestment zones (TIFs) that are served by DART transit anchors.
Hellman said the ILA approach is intended to avoid state-legislative changes and to provide a uniform, automated mechanism for multiple DART member cities. Under the draft parameters described to the council, DART would be able to contribute a minimum of 20% and up to 50% of DART’s sales-tax increment within a qualifying TIF; the DART board also discussed optional…
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