TIF
A Tax Increment Financing (TIF) zone, aims to bring economic development and increase taxable values within a specified area or zone.
Grapevine and Colleyville TIF
Grapevine
In 1996, the district entered into an agreement with the City of Grapevine to bring Grapevine Mills Mall and other businesses to a piece of undeveloped land.
Colleyville
In 1998, the district entered into an agreement with the City of Colleyville to bring redevelopment of the SH 26 Corridor with an emphasis on retail businesses and consolidation on public services to significantly enhance the value of all taxable real property in the reinvestment zone. The purpose of the reinvestment zone was for public infrastructure improvements, school district improvements and construction of retail, restaurant and office spaces.
Mustang Panther Stadium: The New Experience
The renovated Mustang Panther Stadium opened in Spring 2019, allowing fans, students, and community members a new game day experience as part of a stadium renovation.
The work was completed using funds the district received through a $26 million Tax Increment Financing (TIF) payout resulting from the 1996 TIF agreement with the City of Grapevine to bring Grapevine Mills Mall to the area.
Approved by the GCISD Board of Trustees, and the Grapevine City Council, the funds were used by the district on renovations to Mustang Panther Stadium, joint-use educational facilities and the joint fiber project with the City of Grapevine.