Page 62 - FY 2025 Adopted Operating Budget and Business Plan

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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
TIRZ #1 Date Reimbursement Agreement – Arlington
TIRZ 1 Amended and Restated Feb. 2020 Ballpark District Developer Holding
Participation Agreement – Tax Increment Company
Reinvestment Zone Number One Tarrant Construction of New Convention Hotel June 2021
County Begins
TIRZ 1 Amended and Restated Feb. 2020 Amended Project Plan and Financing Plan June 2021
Participation Agreement – Tax Increment for Tax Increment Reinvestment Zone
Reinvestment Zone Number One Tarrant Number Five, City of Arlington, Texas –
County Hospital Entertainment District
TIRZ 1 Amended and Restated June 2020 Third Amendment to the Economic June 2021
Participation Agreement – Tax Increment Development Performance Agreement –
Reinvestment Zone Number One Tarrant Arlington Convention Center
County College District
Tax Increment Agreement by and June 2020
TIRZ #6 Date
Between Savannah Main 7, LLC
Development Agreement Sept. 2020
Tax Increment Agreement by and June 2020
Between Urban Front, LLC.
TIRZ #7 Date
Agreement Relative to Participation in Dec. 2020
Interlocal Agreement with Tarrant Mar. 2021
UTA College Park Project
County Relative to the Payment for
TIRZ 1 Incentive Agreement with Don W. May 2021
Professional Planning Services
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 2025 Adopted Budget and Business Plan 53 City of Arlington, Texas