A resolution accepting the FY 2024-2025 Annual Report on the status of Tax Increment Financing Reinvestment Zone Number Eight (Design District 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.

The City Council is set to accept the Fiscal Year 2024-2025 Annual Report for Tax Increment Financing (TIF) Reinvestment Zone Number Eight, also known as the Design District TIF District. This resolution authorizes the City Manager to submit this report to the relevant taxing jurisdictions and the State Comptroller, as mandated by state law. The report details the financial status and accomplishments of the Design District TIF District, which was established to fund public investments for the redevelopment of an industrial area into a mixed-use neighborhood. Key initiatives include the Trinity Strand Trail, various development projects, and efforts to promote transit-oriented development. The report indicates significant new private investment and progress towards development goals.

This action is primarily administrative, involving the acceptance and submission of an annual report on the Design District TIF District. Residents are not directly impacted by this specific resolution, as it does not involve new spending or changes to services.

high