Water District Boosts Panther Island Development
Dallas News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
The Fort Worth City Council approved a $124,103 contribution from the Tarrant Regional Water District to establish the Panther Island Public Improvement District 23. The water district, despite being tax-exempt, opted to pay the maximum assessment rate of 16.5 cents per $100 of property value to stimulate development. The district will manage the district for the first fiscal year, with a budget of $32,000 for operations, $10,000 for marketing, $50,000 for public events, $1,840 for city admin fees, and $32,260 in reserves. Other tax-exempt public owners, including the city, are expected to contribute as they hold property there. Construction on an east-west canal for an urban waterfront may start this summer or fall, and the district is negotiating with an Austin developer for a mixed-use project.
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