Council weighs using Harbor TIF to fund multi‑million-dollar repairs to marina and fountains
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Summary
Councilmembers and staff discussed extending or using Harbor District TIF revenues to finance repairs to boat docks, fountains and other harbor amenities; staff outlined a possible $4–5 million TIF-financed package that would be repaid from captured Harbor revenues and would not draw on the general fund.
Rockwall councilmembers discussed using tax-increment financing (TIF) revenues from the Harbor District to pay for significant repairs and upgrades to harbor amenities, including boat docks and the fountain system. The Harbor TIF was established in the mid‑2000s and staff said the district’s captured value is now about $251 million (current total value about $266 million vs. base value $15 million). Council and staff said the TIF’s outstanding debt should be paid off by about 2029, freeing captured revenue for other harbor investments.
Mayor (speaker) and staff described multiple maintenance needs — a deteriorated boat-dock system, a non-working fountain feature and lighting issues — and estimated the combined expense for a comprehensive repair package at roughly $4 million to $5 million. Mary said the city could issue TIF debt sized to those projects that would be paid entirely from Harbor captured revenues and not from the general fund.
The mayor urged using the TIF because, he said, the Harbor District is a major identity and economic amenity for the city and allowing it to deteriorate would be “embarrassing.” He and others said placing the repairs in the TIF keeps those revenues and expenses out of the general fund and prevents those revenues from affecting the city’s maintenance-and-operations tax-rate calculations while they remain in the TIF.
Council discussed alternatives and noted some ongoing annual maintenance has been deferred. Mary and the mayor said the boat docks alone could cost $2 million to $3 million to repair, and that a $5 million TIF debt would likely pay for docks, fountain and some parking and could be structured over a shorter payoff period (roughly 10 years) so the TIF would not stay on the books long term.
No formal action was taken; staff framed a conceptual plan and asked council for direction and feedback. Councilmembers signaled interest in further work on a TIF-funded repair package and directing staff to refine cost estimates and financing scenarios for future action.
Speakers quoted in this article include the mayor, Mary (staff), and Mayor Pro Tem Mueller, who also spoke in favor of using the TIF to preserve the Harbor as an amenity. The council asked staff to return with more detailed numbers before committing to debt issuance.