A resolution accepting the FY 2024-2025 Annual Report on the status of Tax Increment Financing Reinvestment Zone Number Seven (Sports Arena TIF District or District), and authorizing the City Manager to submit the annual report to the Chief Executive Officer of each taxing jurisdiction that levies taxes on real property in the District and to the State Comptroller, as required by state law - Financing: No cost consideration to the City *In alignment with Economic Development Incentive Policy.

This resolution formally accepts the FY 2024-2025 Annual Report for Tax Increment Financing Reinvestment Zone Number Seven, also known as the Sports Arena TIF District. The report details the financial status and accomplishments of the district for the period ending September 30, 2025. The City Manager is authorized to submit this report to the relevant taxing jurisdictions and the State Comptroller, as mandated by state law. The TIF District, established in 1998 and expanded in 2012, aims to fund public improvements to promote development around the American Airlines Center and in surrounding areas. The report indicates significant new development, including over 5,400 residential units and substantial retail and office space, leveraging approximately $2.74 billion in new development. The district's termination date was extended to December 31, 2028. The report also details various projects funded by the TIF, including parking garages, streetscape improvements, and trail projects, with a total TIF investment of over $114 million.

This is a routine administrative report. Residents are not directly impacted by this resolution, as it concerns the reporting of past financial activities and future reporting obligations for a specific economic development zone.

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