BY CONNOR PITTMAN
Diving deeper
Looking ahead
River Walk appraised value
$600M
+38.69%
Additionally, town officials extended Tax Incre- ment Reinvestment Zone No. 1, which includes the River Walk, for five years last December. A tax increment reinvestment zone is a public financing tool that allows municipalities to capture up to 100% of the growth in property tax values above the base set when the zone is established. The zone was originally created in September 2005, and funds within the zone are earmarked to pay for improvement projects, such as the arts center. “We have this unique financing tool that puts us in a position to do that without having to raise the tax rate or touch the tax rate for our residents to be able to deliver this facility,” he said. Along with town funding, Denton County has agreed to fund the project through participation in the tax increment reinvestment zone. “We anticipate the performing arts center bene- fiting communities across our county and region,” Denton County Judge Andy Eads said. “We need more public venues to continue building on our
The tentative opening date for the arts center is in spring 2029. While the town works its way through the design process, Childers said public input will be important. “We want people to be engaged in the process, share their thoughts, and take advantage of these opportunities to be able to engage and provide feedback,” Childers said. Doris Aguirre, a resident who attended the Dec. 11 feedback session, said she hopes the proposed arts center incorporates more green space and feels inviting, which could help connect the development. “I really hope that this new arts center enhances the River Walk and brings people into the River Walk because the River Walk is actually very beautiful,” Aguirre said. “If they work together to kind of connect one to the other, I think they can bring people into those restaurants.”
$500M
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SOURCE: DENTON CENTRAL APPRAISAL DISTRICT/COMMUNITY IMPACT
exceptional quality of life here in Denton County.” Additionally, the Grand Theater has helped revitalize Old Town Lewisville since opening in 2011, said Denise Helbing, the venue’s manager. “Since then, more restaurants have come back into Old Town and the retail has expanded,” Helbing said.
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