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Committee reviews Dallas TIF annual reports; five districts lack full boards
Summary
City staff briefed the Economic Development Committee on FY23-24 annual reports for 18 active tax increment financing (TIF) districts, noting five districts currently lack the minimum number of appointed board members. The reports will be transmitted to the city council and the state as required by law.
Interim Director Kevin Spath told the Dallas Economic Development Committee that the Office of Economic Development is circulating FY23-24 annual reports for the city’s 18 active tax increment financing (TIF) districts and that the reports will appear on the City Council agenda on Feb. 26.
State law requires the city to submit an annual report on each active TIF district to the taxing units that levy property taxes in the zone and to the Texas Comptroller. Spath said the city’s individualized reports include a map and mission statement for each district, a summary of accomplishments and project status, mixed-income housing data and detailed financial information including taxable values and increment revenues.
“State law requirements in Texas Tax Code §311 specify what has to be in annual reports,” Spath said during the briefing. He also noted the staff-prepared reports include five districts that currently do not have the minimum five appointed board members and therefore cannot convene: Deep Ellum, Farmers Market, Mall Area Redevelopment, Southwestern Medical and University TIF districts. Spath said the absence of a board does not prevent the city from submitting annual reports; the statute does not require board action on annual reports.
Committee Chair Ridley praised the TIF districts’ record of development, citing citywide construction statistics included in the memo. "They have been an unqualified success for our city, as your statistics indicate," Ridley said, noting that development in the TIF districts has produced a disproportionate share of downtown housing, commercial space and hotel rooms.
Spath told the committee that plan and financing amendments remain the core responsibility of district boards: any proposed amendment to a TIF project plan must be publicly reviewed by the board before it is recommended to council. For districts without a quorum, he said council may see plan amendments brought directly to the full body when necessary.
The memorandum before the committee summarizes activity across current and previously expired TIF districts and will be forwarded to the council and the state as required. The committee did not take any formal action on the briefing; the item was informational and will proceed to the full City Council.
Ending: The committee is scheduled to receive the final package at City Council on Feb. 26, when councilmembers will be able to review and act on any items that require formal approval.
