Fort Worth has enjoyed remaking its downtown business/entertainment district into a subject of immense civic pride.

http://www.star-telegram.com/2013/04/06/4754667/tif-spending-helps-downtown-fort.html

A big part of the success has been the creation of a tax increment finance (TIF) arrangement that looks somewhat like the tax increment reinvestment zone (TIRZ) created for Amarillo. Indeed, Amarillo has patterned much of its own downtown redevelopment strategy after what’s been done in Cowtown.

It’s working there. It can work here.

Oh yes, there are critics here who dismiss the strategy. The Fort Worth TIF sets aside tax revenue to pay for public improvements. Amarillo’s TIRZ is set up to do essentially the same thing. It’s got a different name and it sets aside money derived from property value appreciation within the district.

Tomato, tom-ah-to. The concepts are similar.

For my money, downtown Fort Worth has it all over downtown Dallas. The two Metroplex cities compete at almost every level, but as far as downtown livability and enjoyment, Big D likely threw in the towel years ago to Fort Worth.

Fort Worth success has come with public help. Amarillo is seeking to kick start its downtown redevelopment through entirely private money in its first phase, estimated to cost about $113 million. The city is supposed to get a new parking structure and a minor-league ballpark – eventually.

After that, who knows? I do understand, though, that Amarillo’s venture must include some public money, which is where the TIRZ strategy kicks in, to the dismay of nay-sayers.

I want to stipulate one more time in response to gripes I keep hearing about Amarillo’s downtown project. It will not copy Fort Worth’s in size and scope. It cannot, given that our city comprises not quite 200,000 residents compared to the 800,000 or so folks who live in Fort Worth. But when you scale it all down to size and examine the benefits of setting aside tax revenue derived from property within a certain boundary, then you understand how one city’s concept can work in another one.

I’m all for copying another community’s success.