Mayor’s TIF Numbers for South Dallas ‘Are Way Off,’ says Councilman Something about the proposed South Dallas Transit-Oriented Development—a centerpiece of the Mayor Cabell’s economic platform for the city’s lower-income area—doesn’t add up.

To promote equity in the disadvantaged area, Cabell promised tax-breaks to local businesses who agreed to leases at the TOD. The breaks would come in the form of Tax Increment Financing.

“We’re promising local business a 1:1 TIF on all EAV increases after the county assessor’s initial property tax estimate,” said Cabell. “In only a couple of years, they’ll start seeing an immediate return on investment.”

County Commissioner Rice’s office is in charge of determining the TOD’s Equalized Assessed Valuation. Local businesses get a one to one return on all property taxes once the TOD’s EAV surpasses the initial estimate. Sounds great, right?

Not so fast, says City Councilman Fred Bolden.

“Off the record, the mayor’s numbers are way off,” said Bolden. “The initial EAV they’re proposing is way too high. Suspiciously high. Sure, those businesses will get something from the TIF if they’re still around in 50 years.”

In other words, according to Councilman Bolden, the mayor’s a liar.