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Extension and Expansion of Tax Increment Financing (TIF) No. 2

Sector: Seaport • Location: Garland, Texas, United States

Source: Citizen Portal AI

Project
Planned

The project involves extending the term of TIF No. 2 from 2025 to 2045 and expanding its boundary to include adjacent properties, creating a new boundary layer called TIF 2A. The city plans to split the tax increment revenue, allocating 50% to support infrastructure and development activities in the corridor and 50% to fund public safety services associated with the corridor. This aims to protect

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Project Information

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The project “Extension and Expansion of Tax Increment Financing (TIF) No. 2” is an infrastructure initiative in the Seaport sector, located in Garland, Texas, United States. Taiyo aggregates data on it from Citizen Portal AI.

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Participants

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Status

Original status

planned

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Contact

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Email

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Description

Description

The project involves extending the term of TIF No. 2 from 2025 to 2045 and expanding its boundary to include adjacent properties, creating a new boundary layer called TIF 2A. The city plans to split the tax increment revenue, allocating 50% to support infrastructure and development activities in the corridor and 50% to fund public safety services associated with the corridor. This aims to protect incremental revenue under state appraisal cap rules and provide predictable funding for maintenance, public safety, and corridor improvements over the next two decades.

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Original Currency

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Source

Source reliability

High

Data quality score

100%

Source

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URL

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More Details

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