Page 56 - ArlingtonFY24AdoptedBudget

Business Plan

Invest in Our Economy

Goal 1: Enhance Economic Impact Through Development and Redevelopment Efforts,
Partnerships, and Investment Opportunities
Objective 1: Foster Development and Redevelopment in Targeted Areas
Project Performance Measure(s) Department(s)
IOE TIRZ Districts • Recruitment Leads Economic Development
1.1.1 • Leads to Prospects
Summary:
There are four Tax Increment Reinvestment Zones (TIRZ) in TIRZ #5 Date
Arlington: Amended Project Plan and Financing Plan Dec. 2019
Economic Development Performance Dec. 2019
(TIRZ) #1 – Downtown Agreement
2022 Taxable Value: $389,867,558 Economic Development and Dec. 2019
Reimbursement Agreement
(TIRZ) #5 – Entertainment District First Amendment to the Economic Dec. 2019
2022 Taxable Value: $1,257,070,145 Development Incentive Agreement for
Hotel Project
(TIRZ) #6 – Viridian Loews Parking Structure Completed Sept. 2020
2022 Taxable Value: $1,163,302,129 Third Amendment to the Economic June 2021
Development Performance Agreement –
(TIRZ) #7 – International Corridor Arlington Convention Center
2022 Estimated Taxable Value: $1,126,146,104 First Amended and Restated TIRZ 5 June 2021
Economic Development and
Reimbursement Agreement – Arlington
Ballpark District Developer Holding
TIRZ #1 Date Company
TIRZ 1 Amended and Restated Feb. 2020 Construction of New Convention Hotel June 2021
Participation Agreement – Tax Increment Begins
Reinvestment Zone Number One Tarrant Amended Project Plan and Financing Plan June 2021
County for Tax Increment Reinvestment Zone
TIRZ 1 Amended and Restated Feb. 2020 Number Five, City of Arlington, Texas –
Participation Agreement – Tax Increment Entertainment District
Reinvestment Zone Number One Tarrant Third Amendment to the Economic June 2021
County Hospital Development Performance Agreement –
TIRZ 1 Amended and Restated June 2020 Arlington Convention Center
Participation Agreement – Tax Increment
Reinvestment Zone Number One Tarrant TIRZ #6 Date
County College District Development Agreement Sept. 2020
Tax Increment Agreement by and June 2020
Between Savannah Main 7, LLC TIRZ #7 Date
Tax Increment Agreement by and June 2020 Interlocal Agreement with Tarrant Mar. 2021
Between Urban Front, LLC. County Relative to the Payment for
Agreement Relative to Participation in Dec. 2020 Professional Planning Services
UTA College Park Project
TIRZ 1 Incentive Agreement with Don W. May 2021
Muncharth and Associates for the
Development of a Grocery Store Located
at 101 South Center Street.
TIRZ Chapter 380 Grant Agreement by June 2021
and Between Sutton Frost Cary LLP

FY 2024 Adopted Budget and Business Plan 47 City of Arlington, Texas