State-Thomas Tax Increment Financing (TIF) District

On December 14, 1988, City Council established the State-Thomas Tax Increment Financing (TIF) District to exist from January 1, 1989 through December 31, 2008.  The State-Thomas neighborhood is north and immediately adjacent to the Central Business District (CBD). The 100-acre area includes the TIF District and 20-acre State-Thomas Historic District.

The District has been successful at utilizing TIF funded public infrastructure improvements to attract and enable private sector development.  Development that has occurred in the State-Thomas TIF District has had a substantial impact on the surrounding community. When the TIF District was established, the area was 95 percent vacant. Today, most of the District is developed or under-construction with approximately 5.1 acres (6.8%, excluding right-of-way) undeveloped. The success of this District has spurred the confidence of the real estate community and has encouraged increased development activity in the “Uptown area.”

Arial of TIF Before

Westside at State Thomas

Renovated Historical Homes

Gables State Thomas