Sunday, December 28, 2008
City of Dallas optimistic about TIF district in Lancaster
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DALLAS — The Dallas City Council is feeling optimistic about the tax-increment finance (TIF) district it approved that will benefit the Lancaster-Kiest area.
TIF districts are a device that lets the city devote funds to a particular area in need.
This is a unique kind of TIF, called a TOD-TIF -- "transit-oriented development/tax-increment finance district" -- that ideally fosters prosperity along the DART rail line. It has three "subdistricts": 1. Lancaster-Kiest 2. the Cedars West neighborhood just south of downtown, and 3. an area north of Mockingbird and south of Lovers Lane, in between Greenville Avenue and North Central Expressway.
Posted by T.G.
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