A resolution accepting the FY 2024-2025 Annual Report on the status of Tax Increment Financing Reinvestment Zone Number Six (Farmers Market 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 Fiscal Year 2024-2025 Annual Report for the Farmers Market Tax Increment Financing (TIF) Reinvestment Zone Number Six. It also authorizes the City Manager to submit this report to the chief executive officers of all taxing jurisdictions within the zone and to the State Comptroller, as mandated by state law. The report details the status and financial performance of the TIF District, which was established to fund public investments promoting redevelopment and growth in the Farmers Market area, supporting the Dallas Farmers Market and increasing the tax base. The TIF District has seen significant development since its inception in 1998, including numerous residential, retail, and commercial projects, with a total private investment of approximately $633.8 million and a TIF investment of $35.8 million.

This action is primarily administrative, ensuring compliance with state reporting requirements for the Farmers Market TIF District. Residents are not directly impacted by this resolution, as it does not involve new spending or policy changes, but it maintains transparency regarding the economic development activities within the TIF zone.

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