D ECONOMY: NEWS
Community Park at Fair Park Secures Additional Funding
On August 12, City Council unanimously authorized a tax increment financing (TIF) development agreement with Fair Park First, a non-profit organization dedicated to revitalizing Fair Park. The TIF development agreement will provide up to $3 million in gap funding from the Deep Ellum TIF District to support the planned Community Park at Fair Park, a transformative project that will bring approximately 10.5 acres of new green space, recreational amenities, and community-focused programming to South Dallas. The $3 million of funding is intended to help the project commence construction without additional delay, prevent cost escalation associated with delaying construction, maintain alignment with project timelines and stakeholder commitments, and leverage existing public and private investment.
The estimated total project cost is $40.6 million. Fair Park First has already raised more than $33 million to fund the design, development, and construction of the Community Park. The funds raised comprise investments from a cross-section of federal, state, and philanthropic partners (including grants and private donations) and demonstrate a strong, shared commitment to delivering the park to the community.
Construction on the Community Park at Fair Park is anticipated to begin later this year. Completion is slated for 2028.
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City Council Approves 2027 Plans for All Public Improvement Districts
On August 25, 2026, the Dallas City Council approved a 2027 Service Plan, which includes a budget, assessment rate, and assessment roll, for all 16 Public Improvement Districts (PID), including the City's newest PID, Halperin Park. PIDs are special districts formed via a property owner-driven petition process to fund supplemental services beyond what the City of Dallas normally provides. PIDs can provide supplemental services such as enhanced security, landscaping, street cleaning, marketing, and neighborhood improvements, among other allowable services, as determined by its budget and needs as established in the service plan.
Each PID district is managed by a designated non-profit management entity, working under City oversight, with assessments capped by City policy at $0.15 per $100 of property value. By adopting the service plans, assessment rates, and assessment rolls for all 16 PIDs, City Council ensured that each PID manager can continue offering supplemental services and improvements tailored to the needs of their designated geographic areas. The list of PIDs within the City of Dallas currently includes the Dallas Tourism, Deep Ellum, Downtown Dallas, Far East Dallas, Halperin Park, Klyde Warren Park/Dallas Arts District, Knox Street, Lake Highlands, Midtown, North Lake Highlands, Oak Lawn-Hi Line, Prestonwood, Red Bird, South Side, University Crossing, and Uptown PIDs.
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