F UNDING AND F INANCING S TRATEGIES
The transformative efforts identified in this plan will require funding from an array of sources to ensure implementation and construction. There is a suite of options that form a funding toolbox with various benefits and considerations as shown in Table 20.
Table 20: Financing Strategies
Source/Regulatory Authority
Name
Description
Considerations
Grants programs within federal departments allocate funding to entities including for capital projects. This can include obligations directly
Requires federal oversight and requirements. Often competitive amongst other agencies.
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Various agencies including, but not limited to, US Department of Transportation (USDOT), US Department of Health and Human Services (USDHHS), US Department of Environmental Protection (USEPA).
•
from the federal government, TxDOT, NCTCOG, or other agencies. Examples of grant
Federal Grants
Subject to change based on federal changes (e.g., changing executive administration).
•
opportunities include USDOT Better Utilizing Investments to Leverage Development (BUILD) grant program
and TxDOT Transportation Alternatives grant program.
Reallocation of a portion of property taxes from new development within a specific area (known as a Tax Increment Reinvestment Zone [TIRZ]) to pay for improvements in that area. Special districts with authority to purchase, lease, or sell property; litigate; contract with entities; raise funds through taxes, bonds, or borrowing; and have power of eminent domain. These districts can include municipal management districts, county assistance districts, and public improvement districts.
Best applicable for potential catalytic projects with developer interest.
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Texas Tax Increment Financing Act (Tax Code, Chapter 311).
Tax Increment Financing
Flexible offerings based on type of district.
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Texas Constitution (Article III, Section 52, Article XVI, Section 59, and Article III, Section 52-a).
Management Districts
May be subject to potential legislative and/or tax considerations based on type.
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189 Table of Contents
FORT WORTH EASTSIDE TRANSPORTATION PLAN
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