City of Fort Worth
Chapter 380 Grants and Tax Abatement
Based on Chapter 312 of the Texas Local Government Code, the City of Fort Worth may award development projects a Tax Abatement based on the value that the development adds to the property.
Likewise, Chapter 380 of the Texas Local Government Code allows the Fort Worth city council to establish and administer programs that promote economic development. These programs can grant business loans or public money, or provide support through city services and personnel, in the interest of helping improve Fort Worth’s economic vitality as a community and establish its competitive edge.
However, there are certain guidelines that projects must meet in order to be eligible for either a Tax Abatement or a Chapter 380 grant.
While all eligible applications will be considered, the City of Fort Worth is especially interested in supporting projects that produce a meaningful impact on the City and its economy, and result in one or more of the following:
- Growth of business activity, employment or investment in one of Fort Worth’s target industries:
- Transportation and warehousing, manufacturing, healthcare, oil and gas, or tourism.
- Emerging sectors, such as transportation innovation, life sciences, geotechnical engineering, or aerospace manufacturing and design.
- International businesses, corporate and regional headquarters, and other professional and financial services.
- Significant investment, including the creation of high-wage jobs and a willingness to be part of strategic revitalization efforts in key areas of Fort Worth.
- Retaining/expanding one of Fort Worth’s existing major employers, or anchoring a business expansion project that provides potential for more supply chain activity and additional growth.
Both Tax Abatements and Chapter 380 grants require recipients to commit to using certified M/WBE companies for a minimum of 15% of all construction costs (both hard and soft), and all mixed-use development projects that contain rental residential units must commit to providing affordable housing.
The Thrive in Fort Worth team will determine whether your project would be the best fit for a tax abatement or a grant and will walk you through the next steps. The team can also assist with other non-cash incentives such as Expedited Permitting.
Tax Increment Financing
As more people and businesses choose Fort Worth as a place to set down roots, it’s vital that local development keep up with that demand – which is why strategic infrastructure investment is more important than ever before. Fort Worth’s Tax Increment Financing (TIF) districts have been invaluable in helping the city support continuous, sustained growth, having created significant new private and real estate development in what is now the 13th largest city in the nation.
Tax Increment Financing (TIF) districts are an economic development tool that supports infrastructure improvements within a defined “reinvestment zone” to promote new development or redevelopment in the area.
TIF districts help finance public improvements, like streets or sidewalks, without increasing taxes on city residents or diverting existing public funds from other public services.
Neighborhood Empowerment Zone
There are more reasons than ever to build in Fort Worth’s central city, thanks to an incentives package recently approved by the city council for any Neighborhood Empowerment Zones (NEZ).
Municipal property tax abatements, fee waivers, and release of city liens are available to property owners who build or rehabilitate property within a NEZ. These incentives are designed to promote affordable housing, economic development, and expanded services.
The Incentive Map is a valuable resource that helps identify opportunities available for a given address within the City of Fort Worth.