TIF 9: Trinity River Vision
Purpose: TIF 9 (Trinity River Vision) was created to promote redevelopment along the Trinity River, while creating mixed-use development and utilizing Gateway Park as hydraulic valley storage to provide the necessary flood protection associated with the bypass flood control project.
Established: Dec. 9, 2003 by City Council; expanded Dec. 15, 2009
Term: The original term extended from 2003 until 2028. On Dec. 15, 2009 the term was extended to 2044. The TIF will terminate on the earlier of (i) December 31, 2044 or an earlier termination date designated by an ordinance adopted after the effective date of the ordinance, or (ii) the date on which all project costs, tax increment bonds, and interest on those bonds have been paid in full.
General: Primarily situated northwest of downtown Fort Worth, this TIF is 3,980 acres and is generally bounded to the north by Northeast 23rd Street and to the south by West Lancaster Avenue. Mr. Danny Scarth serves as the Chair for TIF 8. View the boundary map.
Project and Financing Plan: Approved on Jan. 19, 2006 and amended on Dec. 15, 2009 by the TIF Board and City Council
| Base Value | $111,411,746 |
| 2009 Taxable Value | $305,930,645 |
| 2009 Taxable Increment | $194,518,899 |
| 2009 City of Fort Worth Contribution | $838,029 |
| City of Fort Worth Contribution to Date | $8,181,442 |
| Total Contribution from Entities to Date | $9,200,600 |
Level of Participation by Entity
*Participation agreements to be amended to reflect the updated Project and Financing Plan
| City of Fort Worth | 80% |
| Tarrant County Hospital District* | 80% |
| Tarrant County College* | 80% |
| Regional Water District | 80% |
| Tarrant County* | 80% |
| Fort Worth ISD | 0% |
Projects
| Trinity River Vision | |
| • Land (acquisition, demolition, relocation) | $226,213,500 |
| • Environmental Remediation | $38,355,100 |
| • Preliminary Design | $25,598,900 |
| • Ecosystem Restoration | $8,785,400 |
| • Valley Storage | $95,855,800 |
| • Utility Relocation | $88,135,500 |
| • Bridges and Roadway | $78,855,700 |
| • Pump Station | $8,857,200 |
| • Bypass Channel | $112,724,300 |
| • Waterfront and Pedestrian Bridges | $29,356,200 |
| • Gates | $81,431,800 |
| • Dam | $88,292,600 |
| • Program Management | $16,500,000 |
| • Total Project $ Committed | $909,887,200 |
| • Federal Government Sources | $487,822,900 |
| • Local Government Sources | $102,000,000 |
| Remaining TIF Commitment | $320,054,300 |