Tax Increment Financing Districts
A Tax Increment Financing (TIF) District (also known as a Tax Increment Reinvestment Zone) is an area of the city that is designated for special development or redevelopment. As new homes and businesses are built in the TIF District, the growth in property tax revenues is set aside in a TIF Fund and reinvested in the district. There have been three TIF Districts in North Richland Hills.
Tax Increment Financing District #3 and Public Improvement District
TIF #3 and a Public Improvement District (PID) were created in 2019 to fund the construction of new streets, sidewalks, water lines, sewer lines, drainage and other public improvements in the 52.873 acres City Point development located at the southeast corner of Boulevard 26 and Rodger Line Drive, adjacent to NRH City Hall. For more information about the City Point development, visit www.nrhed.com/citypoint.
The City of North Richland Hills and Tarrant County will contribute 25% of the growth in property tax revenue in the TIF District to the TIF Fund for public infrastructure improvements. The TIF funding is capped at an amount not to exceed $4.2 million from the city and $1.7 million from Tarrant County over a 20-year period. Property owners in the City Point development will be assessed an annual fee through the PID to fund the remaining public improvement costs. The District is overseen by a Board of Directors comprised of the 8 members of City Council and a representative appointed by Tarrant County.
Tax Increment Financing District #2 (Closed)
TIF #2 was created in 1999 to fund public improvements, including the construction a new library and recreation center for the City of NRH and a conference/performing arts center for Tarrant County College. The City of North Richland Hills, Tarrant County, Tarrant County College (TCC) District and Tarrant County Hospital District contributed a portion of their property tax revenue from the TIF District to the TIF Fund for public improvements. The NRH Public Library opened in 2008 and the NRH Centre opened in 2012. In 2015, the TIF #2 boundaries were expanded to include property identified on the TCC Northeast Campus for the conference/performing arts center; however in 2021 TCC leadership informed the city they would not be moving forward with that project. With the conference /performing arts center removed from the plan and all outstanding obligations satisfied for the library and recreation center, the City Council voted at their June 27, 2022 meeting to close TIF#2.
Tax Increment Financing District #1/1A (Closed)
TIF #1 was created in 1998 to help revitalize a 95 acre area off Boulevard 26 around the old Richland Plaza Shopping Center. The City of North Richland Hills, Birdville ISD, Tarrant County, Tarrant County College District and Tarrant County Hospital District contributed a portion of their property tax revenue from the TIF District to the TIF Fund for public improvements. Through the TIF Fund, significant public drainage improvements were made, which spurred private reinvestment and redevelopment of the area. TIF #1 was expanded in 2009 to include a total of 392 acres along Boulevard 26, Rufe Snow Drive and Glenview Drive. Under the expansion plan, intersection and utility improvements within the district were funded. With all projects complete and all outstanding obligations satisfied, the City Council voted at their June 27, 2022 meeting to close TIF#1.