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The Homestead Reinvestment Zone is the Financing Strategy of the Homestead Preservation District
The Reinvestment Zone is formed to provide revenue by Tax Increment Financing (or TIF). Cities typically use TIFs to finance public infrastructure, land acquisition, demolition, utilities and planning costs, and other improvements including:
• Sewer expansion and repair • Street construction & expansion • Park improvements
• Curb and sidewalk work • Street lighting • Water supply • Landscaping
• Storm drainage • Environmental remediation • Bridge construction & repair
• Traffic control • Parking structures • Land Acquisition
To the extent that it may support the statutory mission of providing affordable housing and preserving homeowner equity, the municipality my designate some of the TIF funds for these purposes, but ... A Homestead Reinvestment Zone has Two Unique Characteristics:   1. As much as 70% of its' TIF revenue may be used to finance the direct provision of affordable housing through the Community Land Trust of the District, and 2. The tax increment is designed as a a cooperative program of financing through the joint participation of the City of Dallas and the County of Dallas. |
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