The City of Irving Public Improvement District (PID) #1/Tax Increment Financing district (TIF) #3 was established in 2013 and consists of 122 acres of land located near State Highway 114 and Belt Line Road.
While the site held great potential due to its location, it lacked the infrastructure necessary to support residential development. As such, the site would not have been developed to its full potential but for the creation of a PID.
The purpose of PID #1/TIF #3 is to help pay for the project costs associated with development. The district’s costs primarily included:
Addition of three bridges.
Construction of a dam.
Dredging of the established lake.
Park and open space improvements.
Addition of a trail system.
Sanitary sewer improvements.
A new water distribution system.
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