25-2636A
Authorize an amendment of the tax increment financing (“TIF”) development agreement (“Agreement”) to Resolution No. 20-1480, previously approved on September 23, 2020 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 subordinate the Deed Restrictions (in favor of the City) to Bellwether Enterprise Mortgage Investments, LLC (“Bellwether” or “Lender”) and Owner/Developer and amend the Agreement and Deed Restrictions to terminate the City’s recapture of the TIF Subsidy in the event of a default, and in consideration, extend the Affordability Period as defined in the Agreement and Deed Restrictions by an additional five years from fifteen years to twenty years, approved as to form by the City Attorney, to facilitate the permanent financing loan to be provided by Lender 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 Avenue 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 →
Governments publish the end date in the award. That date is when the
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
- August 27, 2025
- On agenda
- September 10, 2025
- Enactment no.
- 25-1466; APPROVED
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