The Maple Mockingbird Tax Increment Financing (TIF) District Board of Directors reviewed its annual report and voted to approve routine items at a January meeting, hearing that Oak Lawn Place is fully occupied and is near final payment from the district.

The board heard that Oak Lawn Place, a project receiving roughly $5,400,000 in TIF funding, is complete and “fully occupied,” and that the district is finalizing required closeout documents before issuing payment. Eliana (staff presenter) said the district is “about to pay that off” and described ongoing compliance monitoring after payment.

The report laid out district finances and accomplishments. The TIF district was formed in February 2009 and is scheduled to terminate in February 2033. The district’s certified value rose from about $184 million at formation to roughly $1.1 billion (a 503% increase), the presenter said, and year-over-year value rose about 13% leading to an estimated increment collection of roughly $6.7 million for the current fiscal year. The board was told there is about $11.4 million in cash on hand and a projected lifecycle revenue (in today’s dollars) of approximately $52.5 million.

Board members also reviewed housing results. The district’s mixed-income housing policy requires 20% of residential units built with TIF involvement to be priced at or below 80% of area median income; the presenter said 40% of the 333 residential units completed to date have been set aside as affordable, exceeding the policy target.

Transit and neighborhood indicators were part of the report. Staff reported average daily ridership at the nearby Love Field rail station was about 1,044 for fiscal year 2024 (total annual boardings roughly 350,000) and that the station’s ranking among 65 city stations rose from 23rd to 20th.

The report highlighted that Oak Lawn Place received recognition from the International Economic Development Council (IEDC) in 2024 in the economic equity and inclusion category. Staff also outlined district priorities for the coming year, including promoting new development along Mockingbird and a possible study of expanding the district boundary to include parts of the Mockingbird corridor; staff said any boundary expansion would first return to the board for approval before proceeding through required channels.

The board approved the minutes from the Dec. 21, 2023 meeting and later approved the annual report and related items by voice vote; the motions passed unanimously, with no opposing votes recorded. The board also accepted a recommendation to retain its 2025 meeting schedule and to convene only when there is business to discuss, using special meetings as needed.

The board noted a district-wide set-aside equal to 5% of increment (after administrative expenses) for public projects; staff reported about $1.8 million currently set aside for district-wide public improvements. Staff said the only outstanding district obligation at present is the Oak Lawn Place payoff, after which the district would have no outstanding obligations until/if future projects are approved.

Board members asked for continued outreach to developers and for staff to bring any potential boundary-expansion proposals back to the board for consideration. Several members expressed interest in visiting Oak Lawn Place in person at a future meeting; staff said they would try to arrange an in-person visit while observing open-meeting requirements.