Texas may use TIF to build toll road

| 1/30/2003

Texas may use tax-increment financing to help build a new toll road, The Fort Worth Star-Telegram reported Jan. 29.

Tax-increment financing, or TIF, uses tax money from development to pay for public improvements – such as new roads – that benefit the development.

Michael Weaver, project manager with Austin-based consultant group Prime Strategies, said three TIF districts – near Bellaire Drive, Oakmont Boulevard and Altamesa Boulevard – could be created to help pay for the proposed Southwest Parkway toll road, pumping millions into the project.

The $300 million project includes 8.2 miles of toll road in the city and 15.1 additional miles from there to Cleburne, TX.