At its Sept. 8 meeting, the Richardson City Council approved a resolution authorizing the City Manager to execute a Tax Increment Reinvestment Zone Interlocal Agreement (TIRZ ILA) with DART by the end of 2025.
Developed earlier this year by DART’s Economic Development Working Group, comprised of City Managers from member cities, the ILA will allow DART to contribute future sales tax revenues to local TIRZs for the first time, in much the same way as other taxing units. The change is expected to encourage economic development, increase sales and property tax revenues, and support future growth in DART ridership.
Also discussed at the meeting were DART Board apportionment and the General Mobility Program/Fund. The Council passed a resolution declaring support for each member city to hold a weighted vote on the DART Board while maintaining current Board apportionment, with the expectation that member cities will continue to explore and evaluate future changes as needed.
Monday’s presentation: VIDEO
