DEVELOP

Purpose of Incentive

The purpose of these local grants is to reimburse private developers for the range of expenses that may contribute to a financing gap yielding projects financially infeasible. To this end, Southeast Fort Worth, Inc. can work with you, thus the city, to be sensitive to the taxable implications these grants may have for you as the developer and where possible, use transfer mechanisms (i.e., soft loans, accrual notes, etc.) which result in a favorable financial impact.

Project Use

The Economic Development Program grants are made in accordance with Texas Local Government Code 380. Southeast Fort Worth, Inc. can work with you, thus the city, to work with you to match dollars to appropriate costs.

Limitations

This incentive may only be used as a gap-financing tool of last resort. The use of this incentive is for projects facing extraordinary impediments to development, offering significant positive impact to the community, and surrounding neighborhood where the project is located. Limitations on how this incentive is used are predicated on the source of the funds and terms and conditions of the award to the city and the project. Southeast Fort Worth, Inc. can work with you, thus the city, to ensure you achieve available incentives for your project.

For more information, please contact the office of Southeast Fort Worth, Inc. at 817-871-6542. Join us at the table and put us to work at SouthEastFW.com.

A Public Improvement District is a defined geographical area established to provide specific types of improvements or maintenance, which are financed by assessments against the property owners within the area. PIDs provide a development tool that allocates costs according to the benefits received. A PID can provide a means to fund supplemental services and improvements to meet community needs, which could not otherwise be constructed or provided. 

Chapter 372 of the Texas Local Government Code authorizes the creation of PIDs by cities. The owners of the properties in the defined area can request the City to form a PID through a petition, which may include the establishment of an Advisory Body. With the establishment of an advisory body, the property owners within the PID have control over the types of improvements, level of maintenance, and amount of assessments to be levied against the property owners.

Help us help you with the PID and understanding of the PID. Please contact the office of Southeast Fort Worth, Inc. at 817-871-6542. Join us at the table and put us to work at SouthEastFW.com.

A tax abatement is the full or partial exemption from ad valorem taxes on eligible properties for a period of up to ten years and an amount of up to 100 percent of the increase in appraised value (as reflected on the certified tax roll of the appropriate county appraisal district) resulting from improvements begun after the execution of the tax abatement agreement. Eligible properties must be located in a reinvestment zone.

For more information about Tax Abatements under Chapter 312 of the Texas Tax Code and Tax Abatements offered by the City of Fort Worth, please contact the office of Southeast Fort Worth, Inc. at 817-871-6542. Join us at the table and put us to work at SouthEastFW.com.

Tax increment financing is a tool authorized by Chapter 311 of the Texas Tax Code by which local governments can publicly finance needed structural improvements and enhanced infrastructure within a defined area called a reinvestment zone.

• The tax increment is derived from the difference in appraised value between the year in which the reinvestment zone is established (base year) and each year the reinvestment zone is in existence.
• A municipality establishes a TIF reinvestment zone according to guidelines in the Texas Tax Code and other taxing entities elect to participate in TIF by approving a participation agreement, which sets forth the percentage of tax increment the taxing entity is willing to dedicate to the TIF fund.
• A board of directors, consisting of 5 to 15 members who are representatives from the participating taxing entities and representatives of other areas as set forth in the Tax Code, is established for each TIF.

TIF 4

TIF 4 (Southside) was created to promote the revitalization of Fort Worth’s near Southside neighborhood and medical district to ensure the area becomes an economically viable, mixed-use, central city neighborhood. This TIF is administered by Fort Worth South Inc.

Date Created: Nov. 25, 1997

End of Term: Dec. 31, 2022

Total Acreage: 1,278 

Property Description: Generally bounded to the north by Interstate 30 and Vickery Boulevard and to the south by Allen Street and West Arlington Avenue. The TIF extends east of Interstate I-35W to Kentucky Avenue.

TIF 12

TIF 12 (East Berry Renaissance) was created to help fund public infrastructure improvements along the East Berry Street Corridor and promote redevelopment and growth throughout the area. For more information, please contact the office of Southeast Fort Worth, Inc. at 817-871-6542.

Date Created: July 18, 2006

End of Term: Dec. 31, 2027

Total Acreage: 604

Property Description: Generally bounded to the north by Glen Garden Drive, to the east by Highway 287, to the south by Riverside Drive east of Ripley Street and to the west by Interstate 35W.

For more information about the Tax Increment Financing District (TIF) tool offered by the City of Fort Worth, please contact the office of Southeast Fort Worth, Inc. at 817-871-6542. Join us at the table and put us to work at SouthEastFW.com.

Neighborhood Empowerment Zones promote housing, economic development and quality services in the Fort Worth central city.

Now there are more reasons than ever to build in Fort Worth’s central city, particularly southeast Fort Worth, thanks to an incentives package recently approved by the city council for any NEZs designated in the city.

Municipal property tax abatements, fee waivers and release of city liens are available to property owners who build or rehabilitate property within a NEZ. These incentives are designed to promote affordable housing, economic development and expanded services.

For more information on the Neighborhood Empowerment Zones, please contact the office of Southeast Fort Worth, Inc. at 817-871-6542. Join us at the table and put us to work at SouthEastFW.com.

Brownfield sites are properties where expansion, redevelopment, or reuse may be complicated by potential or known hazardous substances, pollutants or contaminants.

Fort Worth’s Brownfields Economic Redevelopment Program encourages the redevelopment of economically distressed areas in Fort Worth through the integration of environmental assessment, remediation and education.

For more information about federal government programs for Brownfields and land revitalization at EPA and HUD, please contact the office of Southeast Fort Worth, Inc. at 817-871-6542. Join us at the table and put us to work at SouthEastFW.com.

The new state historic tax credit is worth 25 percent of eligible rehabilitation costs and is available for buildings listed in the National Register of Historic Places, as well as Recorded Texas Historic Landmarks and Texas State Antiquities Landmarks.

For more information about the Texas Historic Preservation Tax Credit Program, please contact the office of Southeast Fort Worth, Inc. at 817-871-6542. Join us at the table and put us to work at SouthEastFW.com.

The TDHCA Housing Tax Credit (HTC) Program is one of the primary means of directing private capital toward the development and preservation of affordable rental housing for low-income households.

For more information about the Texas Department of Housing and Community Affairs, please contact the office of Southeast Fort Worth, Inc. at 817-871-6542. Join us at the table and put us to work at SouthEastFW.com.