Master Transportation Plan Task 4: Gap Analysis and Needs Network
Policy Area
Notable Best Practices
Current Practices or Policy
Gap Areas and Recommendations
• Allows higher densities and mixed-use zoning near transit corridors. • Reduces parking requirements and encourages shared parking. • Establishes clear guidelines for when and how developers must contribute to off-site transportation improvements. • Ensures that the development would not occur but for the TIF assistance. This should be supported by independent third- party financial analysis. • Conducts comprehensive studies to assess the financial viability and projected increment generation of the proposed TIF district. • Provides accessible information to the public about the purpose, scope, and expected outcomes of the TIF district. • TIF districts should support broader municipal goals such as affordable housing, infrastructure upgrades, or downtown revitalization. • Prioritizes areas where private investment is unlikely without public support. • Limits the total equalized value of all TIF districts to a percentage (e.g., 12 percent) of the municipality’s total property value to avoid overreliance. • Sets clear expiration dates and regularly reviews the district’s performance. • Considers sharing a portion of the increment with overlapping taxing jurisdictions. • Requires detailed annual reports on financial performance, project progress, and public benefits. • Includes mechanisms to recover funds if developers fail to meet agreed-upon benchmarks (e.g., job creation, investment levels). • Allows for incremental development to match revenue generation and reduce risk. • Establishes clear guidelines for modifying TIF plans as conditions change.
Tax Increment Financing (TIF) Districts
• Fort Worth’s TIFs, especially Downtown TIF #3, are clearly aligned with broader goals such as infrastructure improvements, transit enhancements, tourism and convention support, and downtown revitalization. • The Downtown TIF is a collaborative effort involving multiple public entities, which helps ensure diverse oversight and alignment with regional goals. • The city has a strategy to redirect funds from expiring TIFs (e.g., TIFs 3, 4, and 8) into an Economic Development Incentive Fund, which shows forward-thinking fiscal planning. • TIF #3 has a defined expiration date (December 31, 2025) and a lifetime cap of $100 million, aligning with best practices for limiting duration and financial exposure.
• Apply a rigorous “but for” test supported by third-party financial analysis to justify TIF assistance. • Offer more comprehensive, easily accessible public reports detailing financial performance, project progress, and public benefits delivered. • Require detailed annual reports that track performance against benchmarks like job creation or investment levels. • Document if increment revenue is shared with overlapping taxing entities or how equitably those funds are distributed. • Include clawback provisions or mechanisms to recover funds if developers fail to meet agreed-upon benchmarks. • Explicitly tie development phases to actual revenue generation to reduce financial risk.
TOD
• Prioritizes pedestrian-friendly environments with safe, shaded, and accessible sidewalks. • Provides for safe cycling infrastructure. • Ensures a street network that connects people to transit and destinations. • Maximizes access to high-quality public transit. •
No formal policy.
• Adopt form-based codes or TOD-specific overlay zones to guide development near transit. • Feature affordable housing mandates or incentives in TOD planning. • Target investments in underserved communities.
www.MovingaMillion.org | transportation@fortworthtexas.gov page 115
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