City council approves first stage of TIF district
Mesquite, Texas — The city council has unanimously approved the initial stage of the city’s first Tax Increment Finance (TIF) District.
The district will support future enhancements to the newly proposed Rodeo City entertainment and retail complex, as well as complementary developments.
Announced last August, Rodeo City is a proposed $50- million, 45-acre western-themed complex that will front the existing rodeo arena adjacent to a planned hotel and conference center. The result of a public-private partnership between the city and AGF Development, John Q. Hammons Hotels Two and Arena Promotions, the development will include restaurants, retail establishments, a public plaza and a family entertainment center.
“The TIF is our commitment to developers that the city has dedicated public funds for enhancements to Rodeo City, the conference center and other support facilities,” says Mayor Cathye Ray. “Our next step is to continue the partnership and begin development within the district.”
“Once in place, Rodeo City and its complementary developments … will greatly increase our position as a destination,” says City Manager Ted Barron.
TIF revenue is also earmarked for the Mesquite Independent School District facilities.