Infrastructure Investment Fund
The Infrastructure Investment Fund (IIF) incentive provides a brand-new source of capital for areas of the City that lack infrastructure or that have outdated or undersized infrastructure. These large infrastructure costs have been a major obstacle to new economic activity to historically underserved areas, specifically in southern Dallas.
The IIF is a creative way to leverage the Tax Increment Financing (TIF) program for greater equity. For a period of 10 years after a TIF district expires, the value of the total annual increment contributed by the City in the TIF district’s last year will be earmarked within the General Fund into the IIF. Over the next 10 years, the IFF is projected to generate approximately $200 million.
Funds from the IIF can be used in two ways:
- The City of Dallas can use the IFF to implement a community plan/area plan or otherwise prepare neighborhoods and underdeveloped/undeveloped properties in Target Areas for anticipated future economic development.
- Private developers, through development agreements with the City, can access the IFF to support developments that help grow the tax base and create living wage jobs in Target Areas.
Eligible infrastructure projects (including necessary design and engineering costs) may include, but are not limited to:
- Programs that mitigate displacement of low-income households as a result of new investment and market-rate development
- Water/sewer connections and stormwater management projects
- Public parks and greenspace
- Streetscape enhancements and sidewalk improvements, including ADA accessibility improvements and lighting infrastructure
- Transit enhancements including electronic vehicle infrastructure
- Land acquisition by the City
- Renewable energy generation and storage
- Environmental study (all phases as well as mold, lead, and asbestos) and remediation
- Internet connectivity, broadband access, and other telecommunications infrastructure
- Other projects as approved by the Office of Economic Development