Woodhaven: Tax Increment Reinvestment Zone Number Thirteen, City of Fort Worth

Began January 1, 2007; TIF is expected to terminate on December 31, 2028; Project and Financing Plan: Approved June 17, 2008.

Purpose

TIF 13 was created to promote public and private improvements in the Woodhaven area. It was believed that these improvements would provide a "foundation of development", promote mixed-use economic growth, and support the needs of constituents within the neighborhood.

Area

The TIF covers approximately 1,100 acres and includes the major intersections of Woodhaven Boulevard and Boca Raton Boulevard as well as Bridge Street and Boca Raton Boulevard, as they intersect Loop 820. It is generally bounded to the west by Willow Ridge Road, to the south by Interstate 30, and to the north by the Trinity River.

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Participation

The City of Fort Worth and the Tarrant Regional Water District contribute 100 percent of their tax increment to TIF 13. Tarrant County supplies 80 percent of their tax increment to the TIF, but will contribute no more than $2,787,855 over the TIF’s lifetime. Although Tarrant County College and Tarrant County Hospital District are expected to participate at 50 percent and 80 percent, respectively, neither entity has signed a participation agreement. Fort Worth ISD does not participate in TIF 13.

Growth in Taxable Value

Current Obligations

Although TIF 13 does not have any current obligations, City staff has been in discussions with a number of interested parties and some projects have moved forward without TIF support.