The Dallas City Council voted Oct. 22 to expand the Downtown Connection tax increment reinvestment zone and approved a TIF development agreement committing up to $103 million in TIF subsidy for the redevelopment of Bank of America Plaza (addresses including 900–909 Main and 901 Main).

The public-hearing discussion (PH 5) and the subsequent development-agreement vote (item 40) together amended the TIF’s geographic boundary to add roughly two acres and to allow the district to support the planned conversion and redevelopment of the 901 Main / 900 Main complex. The council considered amendments to TIF project-plan ordinances (ordinance nos. 26020 and 26096, as referenced in the record) to reflect the boundary and plan changes.

Supporters, including Downtown Dallas Inc. and private-sector representatives, told the council the subsidy is intended to catalyze conversion of underused office space into a 4-star (or higher) hotel, retail and enhanced public access, and additional parking. Downtown Dallas Inc. CEO Jennifer Scripps argued the investment would protect downtown’s tax base, support the convention center and stimulate foot-traffic and hospitality demand. Other downtown stakeholders said the project would help address high office vacancy and diversify downtown uses.

Councilmembers speaking in favor framed the package as a strategic, time-sensitive investment to keep the city’s largest office hub commercially viable. Council members said the developer’s plan and the city package would bring hotel keys and additional street-level activation, and create a new revenue stream tied to hotel occupancy and food-and-beverage taxes that would support future convention-center financing.

The council adopted the boundary amendment (PH 5) and then approved the TIF development agreement (item 40) by council vote. The item authorizes a TIF subsidy not to exceed $103,000,000 payable from current and future Downtown Connection subdistrict funds, tied to developer performance and project delivery terms spelled out in the agreement.

The TIF boundary amendment and the $103 million development agreement are designed to enable adaptive reuse and mixed-use development at Bank of America Plaza and nearby parcels; the council directed staff to manage implementation consistent with the amended project plan and the negotiated developer-funding schedule.