The Irving TIF District

The Irving Tax Increment Finance District No. 1 offers reimbursement of certain infrastructure costs for development within the district. The TIF was created in 1999 to encourage high-quality growth within a 3,600-acre zone in Las Colinas. Most of the TIF is located within the boundaries of the Dallas County Utility and Reclamation District, or DCURD, and falls within the Las Colinas Urban Center. The City of Irving, Irving ISD, Carrollton-Farmers Branch ISD and Dallas County Community College District are participants in the TIF.

The City of Irving, the Irving ISD, the Carrollton Farmers Branch ISD and the Dallas County Community College District created the first Tax Increment Financing District in the City's history within the Las Colinas development with boundaries similar to the Dallas County Utility Reclamation District (DCURD).

The TIF District's business plan calls for an investment of more than $119 million during the next 15 years for numerous roads, utility projects, Urban Center waterways, and other substantial infrastructure construction. An additional $200 million has been planned for educational facilities and improvements.

The restructuring and refinancing of the DCURD debt will help stabilize the DCURD taxes for existing structures. A new streamlined tax abatement program, a program codified by the State Legislature, will provide a cap on DCURD taxes for new development, regardless of what the underlying tax rate may be.

Working together, the City of Irving TIF District partnering with DCURD, the Las Colinas Association, and area property owners have already achieved the following goals:

• Created $320 million for TIF
• Refinanced DCURD debt
• Streamlined DCURD tax abatement – codified by the State Legislature
• Completed an inter-local agreement with DART light rail for service to Las Colinas Urban Center, linking Texas Stadium, the University of Dallas, Downtown Dallas and DFW