Your browser is unsupported on our website. Please update to the latest version of your browser. Thank you!
  • Why Richardson
  • About Us
  • Contact Us
  • Japanese
  • Chinese
  • Korean
  • Spanish
  • French
  • German
  • Hebrew
(972) 792-2800
Report Builder
  • Living and Working In Richardson
    • Living and Working In Richardson
    • Arts and Culture
    • Climate
    • Cost of Living
    • Healthcare
    • Housing
    • Recreation and Entertainment
  • Entrepreneurship & Small Business
    • Entrepreneurship & Small Business
    • Entrepreneurial Resources
      • Richardson Small Business Resource Guide
      • Richardson EDP Services
      • Richardson Ecosystem for Entrepreneurs
      • Startup Resources
    • Local Purchasing Offices
  • Site Selection
    • Site Selection
    • Business Climate
    • Expansion/Relocation Assistance
    • Incentives
      • Local Incentives
      • State Incentives
    • Industry Clusters
      • Software
      • Financial Services
      • HQ
      • Telecom
      • Semiconductor
      • Defense and Aerospace
      • R&D
    • Real Estate Market Overview
    • Incentive Application
  • Community Data
    • Community Data
    • Community Profile
    • Demographics
    • Education
    • Transportation
    • Government
    • Tax Rates
    • Utilities
    • Workforce
    • Major Employers
    • Retail Development
    • Map Room
  • International
    • International
    • International Soft Landing Services
    • International Business Alliances
    • Export Assistance
    • International FAQs
    • International News and Events
    • Why Richardson
      • Japanese
      • Chinese
      • Korean
      • Spanish
      • French
      • German
      • Hebrew
    • Videos & Resource Materials
    • Why Texas
    • International Companies
  • Media Room
    • Media Room
    • News and Press Releases
    • Videos
    • Success Stories
  • Why Richardson
  • About Us
    • About Us
    • How We Help
    • Staff Profiles
    • Investors
    • Richardson EDGE
    • Jobs
    • Blog
    • #RealRichardson
    • US Ignite
    • FAQs
  • Contact Us
You are here:
  1. Home
  2. Site Selection
  3. Incentives
  4. Local Incentives
  5. Tax Increment Financing Zones

Tax Increment Financing Zones

What is a “TIF”
Tax Increment Financing (TIF) is an economic development tool that uses the projected rise in property tax value within the TIF Zone to finance specific infrastructure and/or development improvements.

Increased revenue from the rise in property taxes is deposited into a locally-created TIF fund which is used to repay infrastructure improvements or may be used to reimburse developers for specific costs.

Tax Increment Financing is governed by Chapter 311 of the Texas Tax Code.
Richardson's Tax Increment Finance (TIF) Zones
.
  
TIF 1 
 
 In November 2006, the City of Richardson created a 900 acre TIF Zone to encourage redevelopment in this important corridor. 
 
Richardson's TIF Zone extends along both sides of Central Expressway from Campbell Road south to Spring Valley Road, west on Spring Valley to Coit Road and east to Greenville Avenue. 
 TIF 2
 
 The zone includes approximately 212 acres according to Collin Central Appraisal District records for 2011, plus public rights-of-way. The zone is bounded by the DART “Red Line” right-of-way, the President George Bush Turnpike, Wyndham Lane and Renner Road, plus approximately 7.15 acres east of Wyndham Lane.
 TIF 3
 
 Richardson Reinvestment Zone Number Three. The zone includes 88.72 acres (according to Collin Central Appraisal District records for 2014), plus public rights-of-way. The zone is bounded by the President George Bush Turnpike, the DART “Red Line” right-of-way, Renner Road and the western boundaries of tracts owned by the W.W. Caruth, Jr. Foundation and Oncor

Developer reimbursements in the TIF Zone
Costs for the following items may be eligible for reimbursement according to state law, depending on the size and scope of the project:
  • Demolition
  • Acquisition
  • Streets
  • Alleys
  • Sidewalks
  • Parking Structures
  • Certain Utilities

Administration of the TIF
A Board of Directors appointed by the city council coordinates any projects applying for or receiving Tax Increment Financing funds within TIF Zone and oversees any additional personnel which may also be used to help with administration of the Zone.
Site Selection
  • Site Selection
  • Business Climate
  • Expansion/Relocation Assistance
  • Incentives
    • Local Incentives
      • Tax Increment Financing Zones
      • City of Richardson Incentive Application
    • State Incentives
  • Industry Clusters
  • Real Estate Market Overview
  • Incentive Application
Keep in Touch With Richardson!
Required
RequiredInvalid email.
Sign me up!
About Richardson EDP and The Telecom Corridor
Richardson, Texas is a vibrant and diversified business community, strategically located in one of the brightest economic regions in the world the Dallas/Fort Worth Metroplex. Whether your company seeks the latest technological breakthrough, provides the highest level of financial service or thrives upon the synergy of a great business and research university, Richardson is where excellence is the expectation.
Richardson Economic Development Partnership
411 Belle Grove Dr., Richardson, TX 75080
Phone: (972) 792-2800
Email: info@telecomcorridor.com
  • Living and Working In Richardson
    • Living and Working In Richardson
    • Arts and Culture
    • Climate
    • Cost of Living
    • Healthcare
    • Housing
    • Recreation and Entertainment
  • Entrepreneurship & Small Business
    • Entrepreneurship & Small Business
    • Entrepreneurial Resources
      • Richardson Small Business Resource Guide
      • Richardson EDP Services
      • Richardson Ecosystem for Entrepreneurs
      • Startup Resources
    • Local Purchasing Offices
  • Site Selection
    • Site Selection
    • Business Climate
    • Expansion/Relocation Assistance
    • Incentives
      • Local Incentives
      • State Incentives
    • Industry Clusters
      • Software
      • Financial Services
      • HQ
      • Telecom
      • Semiconductor
      • Defense and Aerospace
      • R&D
    • Real Estate Market Overview
    • Incentive Application
  • Community Data
    • Community Data
    • Community Profile
    • Demographics
    • Education
    • Transportation
    • Government
    • Tax Rates
    • Utilities
    • Workforce
    • Major Employers
    • Retail Development
    • Map Room
  • International
    • International
    • International Soft Landing Services
    • International Business Alliances
    • Export Assistance
    • International FAQs
    • International News and Events
    • Why Richardson
      • Japanese
      • Chinese
      • Korean
      • Spanish
      • French
      • German
      • Hebrew
    • Videos & Resource Materials
    • Why Texas
    • International Companies
  • Media Room
    • Media Room
    • News and Press Releases
    • Videos
    • Success Stories
  • Why Richardson
  • About Us
    • About Us
    • How We Help
    • Staff Profiles
    • Investors
    • Richardson EDGE
    • Jobs
    • Blog
    • #RealRichardson
    • US Ignite
    • FAQs
  • Contact Us
  • Home
  • Search
  • Report Builder
  • Privacy
  • Sitemap
© 2021 Richardson Economic Development Partnership