What is TIF
Become a part of the Las Colinas vision with the City of Irving's Tax Increment Finance District
For the last two decades, Las Colinas, the City of Irving's master planned centerpiece of excellence, has been called "America's Premier Master Planned Community." Now, with the City of Irving's new Tax Increment Finance (TIF) District, you have outstanding opportunities to become part of the Las Colinas vision..
TIF An Innovative Commitment for a Dynamic Urban Community
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 18 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.
The Las Colinas Vision. Planned for Excellence.
Today Las Colinas continues dynamic growth. The city of Irving remains world-class serving both the corporate community and the residents by keeping them connected
in unique and unprecedented development. The Dallas Area Rapid Transit light rail will soon serve the Las Colinas Urban Center en route to Downtown Dallas and DFW International Airport.
Irving's greenbelt park, Campion Trails, will continue to be enhanced. Planned amenities package for Lake Carolyn will include a pedestrian promenade and fountains. Also planned are
a centennial park, a sculpture garden, and a festival plaza for year round corporate and family enjoyment.
Irving, Texas. Partnering in Progress
More than 2,000 businesses are located in Irving, a city that boasts one of the state's lowest crime rates, a ready and willing labor poor, and no corporate state income tax or personal income tax. Irving has an average employment increase rate of 2.8% annually. The Irving business community enjoys the city's extensive park lands, hike and bike trails, excellent libraries, convenient shopping, fine restaurants, outstanding educational institutions and exciting performances at the Irving Arts Center . . . not to mention average daily temperatures of 67 degrees. Join with the hundreds of successful businesses and enjoy all the benefits that Irving, Texas, has to offer as you share in the vision of Las Colinas.