According to a statement released by developer Prescott RealtyGroup, a Dallas area development company involved with the TIF'screation, the district will have a 30-year life, with anticipatedincremental tax revenue at $328 million during that time. However,there is more than money at stake for the district.


"The primary focus of this effort is to encourage high-density,mixed-use, pedestrian-friendly developments around existing DARTRail stations," said Dallas City Manager, Mary Suhm in the pressrelease. "The TIF provides an effective development tool toencourage the redevelopment of important, centralized areas of thecity, as well as new development."


"A major goal of the TIF District is improving access andconnections between DART Rail station areas and strategic Dallasamenities such as the campus and future research facilities ofSouthern Methodist University, the George W. Bush PresidentialLibrary, the Trinity River, Southside on Lamar, and the heart ofCedars to the Convention Center area, Dallas Zoo, Cedar Crest GolfCourse and Veterans Memorial Hospital," said Prescott Realty's CEOJud Pankey in the statement.


In addition to encouraging development along the light-railroutes, TIF revenue allocated for public infrastructure uses willalso provide connectivity and support for neighboring projects.Planned improvements will include streets, sidewalks, lighting andlandscaping to encourage pedestrian use.

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