Richardson TIF board reviews FY2026–27 budget; staff projects Dallas County contribution cap will be reached
July 16, 2026 | Richardson, Dallas County, Texas
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Vice Chair Kelly Behringer called the Richardson Tax Increment Financing (TIF) Reinvestment Zone No. 1 board to order on July 16, 2026, and the board reviewed the proposed FY2026–27 TIF budget before adjourning at 5:51 p.m.
Mr. Gastor, who presented the budget, told the board the district’s taxable base has grown substantially since its establishment in 2006 and subsequent expansions. “We believe next year's value is gonna come in at about 2,950,000,000,” he said, and added the projection that “we'll actually hit that cap of the 17,800,000 contribution this next fiscal year,” referring to the limit on Dallas County’s incremental contribution.
Why it matters: TIF revenues fund infrastructure, development incentives and certain operations within the TIF footprint; a county contribution cap reduces the portion of future increment paid by Dallas County and will change the TIF’s multi‑year cashflow. Mr. Gastor said the board programs projects and one‑time incentives into the cashflow forecast and updates projections after certified tax values are released.
Key numbers and forecasts presented
- Projected taxable value for next year: about $2,950,000,000 (staff projection).
- FY revenue projection (city, county, interest, other): about $11,700,000.
- Projected fund balance: about $8,900,000 at the end of FY26 falling to about $4,600,000 the following year under current programmed projects.
- Dallas County contribution: county provides 65% of its increment until Dec. 2027 or until its cumulative contribution reaches $17,800,000; staff projects the $17.8 million cap will be reached next fiscal year.
Mr. Gastor outlined the TIF’s permissible uses — studies, infrastructure, economic development grants, land acquisition and operations/maintenance inside the footprint — and described how the finance team loads cashflow when agreements are executed to avoid double‑counting commitments.
Active agreements and one‑time incentives
Mr. Gastor listed active development agreements that drive annual payments (examples cited included Brick Row and East Side Phase 2) and singled out a project identified in the presentation as Belton, Maine. He said the Belton, Maine programming included building and tenant incentives; one slide itemized a $1,000,000 building grant and a $1,000,000 cash grant that the project is eligible to receive. On the subject of earlier projections versus actuals, Mr. Gastor said staff would double‑check slide detail and send confirmation to the board.
On capital projects, Mr. Gastor said Glenville Drive contributions and Main Street Phase 2 are projected to finish this year, and that the Hollins Bridal payout from the TIF was reduced in this year’s programming from $2.5 million to $125,000 because of project delays; remaining costs were programmed in FY27 and could shift to FY28 if construction slips further. He also noted a Texas Street land purchase funded by TIF No. 1 that cost “a little shy of $1,400,000.”
Operations and lifecycle
The TIF also contributes to certain operating costs — parking lease taxes, event programming and a portion of economic development staffing — Mr. Gastor said. Consulting expenses were zeroed out in the current plan and the financing plan was not expected to require major revisions because the TIF is roughly five years from expiration.
Questions and next steps
Board members discussed whether the TIF could be reestablished or extended when it expires; one committee member asked whether a core section might be reestablished. A committee member said internal discussions have taken place and noted timing with the city’s fire master plan and bond program; the speaker added that any reestablishment would require resetting a new base value when undertaken. On a separate point, board members pressed staff about a discrepancy in projected versus actual grant spend for a named zone; Mr. Gastor said staff would confirm the figures and circulate details.
The meeting record and votes
The board approved the minutes of the March 5, 2026 meeting by a 4–0 vote. The remainder of the meeting consisted of the budget presentation, clarifying questions and scheduling discussion; council budget workshops are scheduled for Aug. 3–4, certified tax values were expected within days of the meeting, and the budget adoption timeline leads to public hearings and final adoption on Sept. 21.
The meeting adjourned at 5:51 p.m.
Mr. Gastor, who presented the budget, told the board the district’s taxable base has grown substantially since its establishment in 2006 and subsequent expansions. “We believe next year's value is gonna come in at about 2,950,000,000,” he said, and added the projection that “we'll actually hit that cap of the 17,800,000 contribution this next fiscal year,” referring to the limit on Dallas County’s incremental contribution.
Why it matters: TIF revenues fund infrastructure, development incentives and certain operations within the TIF footprint; a county contribution cap reduces the portion of future increment paid by Dallas County and will change the TIF’s multi‑year cashflow. Mr. Gastor said the board programs projects and one‑time incentives into the cashflow forecast and updates projections after certified tax values are released.
Key numbers and forecasts presented
- Projected taxable value for next year: about $2,950,000,000 (staff projection).
- FY revenue projection (city, county, interest, other): about $11,700,000.
- Projected fund balance: about $8,900,000 at the end of FY26 falling to about $4,600,000 the following year under current programmed projects.
- Dallas County contribution: county provides 65% of its increment until Dec. 2027 or until its cumulative contribution reaches $17,800,000; staff projects the $17.8 million cap will be reached next fiscal year.
Mr. Gastor outlined the TIF’s permissible uses — studies, infrastructure, economic development grants, land acquisition and operations/maintenance inside the footprint — and described how the finance team loads cashflow when agreements are executed to avoid double‑counting commitments.
Active agreements and one‑time incentives
Mr. Gastor listed active development agreements that drive annual payments (examples cited included Brick Row and East Side Phase 2) and singled out a project identified in the presentation as Belton, Maine. He said the Belton, Maine programming included building and tenant incentives; one slide itemized a $1,000,000 building grant and a $1,000,000 cash grant that the project is eligible to receive. On the subject of earlier projections versus actuals, Mr. Gastor said staff would double‑check slide detail and send confirmation to the board.
On capital projects, Mr. Gastor said Glenville Drive contributions and Main Street Phase 2 are projected to finish this year, and that the Hollins Bridal payout from the TIF was reduced in this year’s programming from $2.5 million to $125,000 because of project delays; remaining costs were programmed in FY27 and could shift to FY28 if construction slips further. He also noted a Texas Street land purchase funded by TIF No. 1 that cost “a little shy of $1,400,000.”
Operations and lifecycle
The TIF also contributes to certain operating costs — parking lease taxes, event programming and a portion of economic development staffing — Mr. Gastor said. Consulting expenses were zeroed out in the current plan and the financing plan was not expected to require major revisions because the TIF is roughly five years from expiration.
Questions and next steps
Board members discussed whether the TIF could be reestablished or extended when it expires; one committee member asked whether a core section might be reestablished. A committee member said internal discussions have taken place and noted timing with the city’s fire master plan and bond program; the speaker added that any reestablishment would require resetting a new base value when undertaken. On a separate point, board members pressed staff about a discrepancy in projected versus actual grant spend for a named zone; Mr. Gastor said staff would confirm the figures and circulate details.
The meeting record and votes
The board approved the minutes of the March 5, 2026 meeting by a 4–0 vote. The remainder of the meeting consisted of the budget presentation, clarifying questions and scheduling discussion; council budget workshops are scheduled for Aug. 3–4, certified tax values were expected within days of the meeting, and the budget adoption timeline leads to public hearings and final adoption on Sept. 21.
The meeting adjourned at 5:51 p.m.
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