Authorize a New Markets Tax Credit (NMTC) transaction between the Dallas Development Fund, a Dallas-based Texas nonprofit corporation and certified CDE or a subsidiary thereof (DDF), Nexus Recovery Center (Nexus) and Truist Community Capital, LLC and its subsidiaries thereof, of up to $7 million in NMTC allocation for a construction project located at 8733 La Prada Drive, Dallas, Texas (Project), a qualified project under Section 45D of the Internal Revenue Code of 1986, as amended, as further described in Attachment A, and for DDF to collect related closing costs and annual fees - Financing: No cost consideration to the City

Committee

Office of Economic Development

Requested by

Office of Economic Development (ECO)

Introduced

January 22, 2024

On agenda

February 28, 2024

Enactment no.

24-0354; APPROVED

Where it was heard

City Council Feb 28, 2024

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