TIF Plan Summary
Other TIF Plan Elements
DCURD Participation / Operations / Structure
- APT - To shut down January 1, 2004 if arrangements for
- DART connection are not made
- DCURD Governance - The DCURD Board will be appointed by the City Council of Irving.
Contributions by L.C.L.L.P.
- Cancellation of all reversion clauses except Equestrian Center, Mandalay Drive, APT Maint. Facility and APT ROW
- Deed restrictions on all remaining non-restricted land to all the general conditions and quality standards of the L.C.A.
- Dedication of APT right-of-way as required
- Commitment for the pedestrian easement (an additional 10 feet for a total of 30 feet) around the lake and periodic easements between the lakeshore walk and parallel street
- Price concession for land required by Carrollton/Farmers Branch ISD
- Participate in Open Space Payments to DCURD
- Property Swaps - See Sec. 2.10.b. of the Project Plan
- Dedication of land around Lake Royal for a minimum of 300 single-family zero-lot-line residences
- Dedication of street right of way for PDU1-PDU6 when applicable
Contributions by other Land Owners
- Commitment in the urban center for the pedestrian around the lake and periodic easements between the lakeshore walk and parallel street
- Participate in Open Space Payments to the DCURD
- Participate in enrichment of Centennial Park
- Assessment of property owners who do not participate in the Plans but benefit from the improvements
- APT participation according to existing contractual obligations
Participation by Las Colinas Association
- Maintain recently acquired Flower Clock; Bluebonnet Hill ; and Sector 16 Park
- Amend By-laws to allow LCLLP representative a seat on the Architectural Control Committee provided LCLLP owns at least 300 acres
Execution of appropriate agreements among the parties to implement the plan
The TIF Plan will terminate: At the end of the twentieth full calendar year (December 31, 2018.)
- Or -
All project costs, all other obligations, contractual or otherwise, payable from the tax increment collected on the captured appraised value of the property within the Zone have been paid in full.
- Or -
If designated earlier by ordinance adopted by the City Council.