Goal #4

Develop incentive programs to attract anchor developments on hampton road

StrategicPrioritiesIcon-3

1. Create a Tax Increment Reinvestment Zone (TIRZ) to provide tax increment funds to support public/quasi-public projects

2. Develop RFP’s for City-owned parcels and potential assemblages throughout the corridor to spur interest and provide a range of development options

3. Evaluate individual project submissions to assess fit and value proposition and determine appropriate incentive tools

ThrivingEconomyImage-40

2nd Quarter Update
April 2023 

In Q2, the DeSoto City Council approved a letter of intent identifying a master developer to assist with the identification of potential development assemblages and timelines for introducing these parcels and development proposals to the market.

1st Quarter Update
January 2023

In Q1, the City Council approved the formation of DeSoto’s first economic-development focused Tax Increment Reinvestment Zone (TIRZ) for the Hampton Corridor. The Final Financing and Project Plan associated with that district was also approved directing an estimated $160 million in funding to provide improvements to the TIRZ Zone.