Bea-Sustainable: Tax Increment Financing

Kessler Theater

Tax Increment Financing (TIF) is a program used by city's to finance new public improvements on existing properties to improve future tax values and improve the neighborhood. Designated areas targeted for improvement are selected and by using future tax increases from tax revenues generated by higher future property values after improvements are completed.

Commerce Street Lofts

Funds from these tax gains are appropriated for TIF infrastructure improvements. TIF improvements include sidewalks, utilities, landscaping, environmental remediation, and restoration of historic facades.

TIF funds are primarily for public improvements, but can be used for a variety of administrative costs. Dallas mainly uses the TIF program to promote development in under utilized and vacant areas and to promote public investment in older areas that need to be redeveloped.

Dallas area projects include the Kessler Theater, Belmont hotel and the Commerce Street Lofts