24-2310
Authorize an economic development incentive agreement with Onu Ventures, Inc. and/or its affiliates (“Developer/Grantee”), and The Adaline at Bonnie View, LLC, and/or its affiliates (“RP Owner”), to include: (1) a real property tax abatement (“RP Tax Abatement”) for a period of ten years in an amount equal to the City’s taxes assessed on ninety percent of the added taxable value of Property; and (2) a Chapter 380 Economic Development Grant (“Grant”) in an amount not to exceed $3,500,000.00, in consideration of The Adaline Mixed-Income Multi-Family Residential Project to be situated on approximately 10 acres currently addressed as 4343 and 4425 Riverside Road (“Property”) in accordance with the City’s Economic Development Incentive Policy - Not to exceed $3,500,000.00 - Financing: Public/Private Partnership Fund; Estimated Revenue Foregone: $3,972,780.00 over a ten-year period
What this record is
- Held by
- Onu Ventures, Inc
- Amount
- $3.50M
- Runs until
- July 26, 2034 8 years away date calculated from a contract term stated in the record, not quoted directly
- Type
- contract
See which contracts are coming up for rebid →
Read automatically from the title of the official record. The source document below is authoritative.
- Committee
- Office of Economic Development
- Requested by
- Office of Economic Development (ECO)
- Introduced
- July 26, 2024
- On agenda
- August 28, 2024
- Enactment no.
- 24-1183; APPROVED
Where it was heard
City CouncilWatch what Dallas buys
This is one award. Dallas signs them continuously, and each one names a company and a date it runs out. Say what you sell and we will email you when the next one matches.
Free for 14 days, no card — and nothing charges itself: at day 14 the emails simply stop unless you choose to subscribe ($19 a month). One email when something matches, and nothing else. Unsubscribe from any of them. Searching stays free — it is public record.