Economic Development wins Excellence Award for Tax Increment Financing

The City of Dallas Economic Development Department has received the 2015 Council of Development Finance Agencies CDFA Texas Financing Roundtable Program Award for their work with Tax Increment Financing (TIF).

“We’re honored to receive this award from the CDFA,” said Office of Economic Development Director Karl Zavitkovsky. “The Tax Increment Financing program allows the City to make targeted long term investments in key neighborhoods. In addition to State-Thomas and Cityplace Area, it’s made a huge difference in the downtown Dallas, Deep Ellum, Trinity Groves, the West Davis and Fort Worth Avenue corridors in North Oak Cliff and the Cedars,” he said.
Economic Development’s TIF program includes 18 districts that are facilitating redevelopment throughout Dallas. The Cityplace Area TIF District catalyzed the development of hundreds of apartments and thousands of square feet for retail. The State-Thomas TIF District transformed the area adjacent to the Central Business District from 95 percent vacancy to 95 percent developed or in development.

The CDFA Texas Financing Roundtable Conference Excellence Awards will be formally presented at the 2015 CDFA Texas Financing Roundtable in Austin April 23.

The Council of Development Finance Agencies is a national association dedicated to the advancement of development finance concerns and interests. CDFA is comprised of the nation’s leading and most knowledgeable members of the development finance community representing public, private and non-profit entities alike. For more information visit www.cdfa.net.