Authorize amendment and restatement of the Chapter 380 Economic Development Loan Agreement and the Chapter 380 Economic Development Grant Agreement (collectively, the “Agreement”) with Shekinah Legacy Holdings, LLC (“Borrower/Grantee”) previously authorized by City Council on April 12, 2023 by Resolution No. 23-0499 related to the 1708 MLK Redevelopment Project (“Project”) proposed for the property addressed as 1708 Martin Luther King, Jr. Boulevard, including the following: (1) amend the Project completion deadlines; (2) clarify the minimum investment requirement; (3) clarify the Project scope; (4) clarify the requirements for grant payment; (5) amend the date by which the facility is opened to the public; (6) remove the job creation requirement from the loan agreement and add a job creation requirement of 10 jobs to the grant agreement; (7) amend the loan payment schedule to reflect forbearance of certain loan payments as attached in Exhibit A; (8) replace all references to “Small Business Center” with “Office of Economic Development”, and in consideration; and (9) reduce the term of the loan from 15 years to 2 years, in accordance with the Economic Development Incentive Policy - Financing: No cost consideration to the City

What this record is

Held by

Shekinah Legacy Holdings, LLC 2 records across this site

Runs until

Not stated in the agenda text — the term is normally in the signed agreement, attached to the original item ↗

Type

amendment

See which contracts are coming up for rebid →

Read automatically from the title of the official record. The source document below is authoritative.

Shekinah Legacy Holdings, LLC also holds

Upcoming Agenda Items: February 12, 2025: Amendment and Restatement of Chapter 380 economic development loan agreement and Chapter 380 economic develo… Dallas, TX

Committee

Office of Economic Development

Requested by

Office of Economic Development (ECO)

Introduced

January 14, 2025

On agenda

February 12, 2025

Enactment no.

25-0288; APPROVED AS AN INDIVIDUAL ITEM

Where it was heard

City Council Feb 12, 2025

Watch 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.

Watch this

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.