Tax Increment Reinvestment Zone No. 10, or TIF 10, helped develop the land where Cabela’s, 12901 Cabela Drive, is located near I-35W and SH 170 in northeast Fort Worth. City documents show that the development in the Alliance area of Fort Worth encompassed 981 acres.
The background
Cabela's purchased the bonds that provided the upfront funding for the project on March 4, 2005, according to the city website. These bonds were backed by tax increments collected in the TIF district.
The revenues from TIF 10 were initially dedicated to financing public improvements that supported development, such as public space and infrastructure on and near the site of Cabela's, according to city documents.
The specific
The bonds have matured and the TIF was scheduled to dissolve on Dec. 31. City staff recommended the early termination of the TIF due to no outstanding or pending obligations or commitments, according to city documents.
As part of the agreement between the city, the Lone Star Local Government Corporation, Tarrant County and Cabela’s, all unpaid amounts as of July 1, 2024, would be considered forgiven.
The final write-off amount on principal was $31.6 million and $28.3 million in interest, according to city documents.
