25-1697A
Authorize amendment of the tax increment financing (“TIF”) development agreement (“Agreement”) previously authorized by the City Council on September 23, 2020 by Resolution No. 20-1480 between the City of Dallas (“City”) and Villas at WH 20, LP and its affiliate Villas Development Corporation (collectively, “Owner/Developer”) and the associated deed restrictions recorded on February 28, 2024 under Clerk’s File No. 202400040173 (“Deed Restrictions”) to (1) allow the City to subordinate the Deed Restrictions to the lien of a permanent financing loan to be between Fannie Mae (“Lender”) and Owner/Developer; and in consideration; and (2) accept the execution of a limited recapture guaranty (“Recapture Guaranty”) by Villas at WH 20, LP and Villas at WH 20 GP, LLC, approved as to form by the City Attorney in favor of the City, to facilitate the permanent financing loan to be provided by Fannie Mae for the mixed-income apartment development commonly known as Mariposa at Western Heights, formerly known as the Villas at Western Heights (“Project”), addressed as 1641 North Windomere in Tax Increment Reinvestment Zone Number Fifteen (“Fort Worth Avenue TIF District”) - Financing: No cost consideration to the City
What this record is
- Runs until
- Not stated in the agenda text — the term is normally in the signed agreement, attached to the original item ↗
- Type
- amendment
- Field
- Real estate
real estate contracts in TX that end within a year →
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work goes back out to bid, and it is usually stated years ahead.
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- Committee
- Office of Economic Development
- Requested by
- Office of Economic Development (ECO)
- Introduced
- May 12, 2025
- On agenda
- May 28, 2025
- Enactment no.
- 25-0838; DELETED
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