Tax Increment Financing Zone #1
In 2017, the City of Cedar Hill established a Tax Increment Financing (TIF) Zone.
The goal of TIF Zone #1 is to continue funding the construction of needed public infrastructure and to encourage private development that will yield additional tax revenue to all local taxing jurisdictions. TIF #1 will promote the creation of contained, mixed-use development consisting of major retail, restaurants, residential, hotel and office.
The preliminary project and financing plan outlines the funding of public improvements related to streets, water, sanitary sewer, storm water improvements, and open space. The TIF can fund these improvements through bond issuance, ad valorem participation of eligible taxing jurisdictions and through the contribution of a portion of the City's sales tax receipts.
While the TIF zone encourages investment in some parts of the City Center, it also brings attention to opportunities throughout the entire city. Potential investors are drawn to the area because funds are dedicated for public improvements to local infrastructure.