Economic Development Committee

COUNCIL CHAMBERS, CITY HALL bit.ly/cityofdallastv

Agenda — 14 items

1. 1 The City Council Economic Development Committee meeting will be held by videoconference and in the Council Chambers, 6th Floor at City Hall. The public may attend the meeting virtually; however, City Hall is available for those wishing to attend the meeting in person. The following videoconference link is available to the public to listen to the meeting and Public Affairs and Outreach will also stream the Economic Development Committee on Spectrum Cable Channel 95 and bit.ly/cityofdallastv: Call to Order
2. 2 MINUTES
3. 1. Approval of the November 12, 2024 Minutes 24-3642
4. 4 BRIEFING ITEMS
5. A. Upcoming Agenda Item: Authorize a development agreement with West End Lofts, LP and/or its affiliates in an amount not to exceed $49,000,000 in consideration of the West End Lofts Project, a proposed mixed-use, mixed- income, and transit-oriented development project on real property currently addressed as 805 Elm Street, 711 Elm Street, and 211 N. Austin Street, located within and adjacent to the City Center TIF District - Financing: City Center TIF District Fund ($28,275,676.00) (subject to current and annual appropriations from tax increments), Public/Private Partnership Fund ($7,357,605.00), Economic Development (G) Fund (2024 General Obligation Bond Fund) ($7,724,324.00) (subject to current and annual appropriations), and 2012 General Obligation Bond Fund (Proposition 3: Economic Development/Housing) ($5,642,395.00) [Tamara Leak, Assistant Director (I), Kevin Spath, Director (I), Office of Economic Development] 24-3643
6. 6 BRIEFING MEMOS
7. B. Upcoming Agenda Item: Authorize a Chapter 380 economic development grant agreement in an amount not to exceed $500,000 with HAECO Global Engine Support, LLC and/or its affiliates in consideration of a new aviation engine repair facility to be located at 11124 Goodnight Lane (City Council District 6) [Heather Lepeska, Assistant Director; Kevin Spath, Director (I), Office of Economic Development] 24-3645
8. C. Upcoming Agenda Item: Authorize a public hearing to be held on January 8, 2025 to receive comments regarding amendments and updates to the City of Dallas Economic Development Incentive Policy for the period January 1, 2025 through December 31, 2026 [Heather Lepeska, Assistant Director; Kevin Spath, Director (I), Office of Economic Development] 24-3650
9. D. Upcoming Agenda Item: Authorize amendments to Resolution No. 22-1008 previously approved on June 22, 2022 authorizing a development agreement (“Agreement”) and all other necessary documents, upon approval as to form by the City Attorney, with I-20 Lancaster Development, LLC and/or its affiliates ("Developer"), related to the University Hills Phase I catalyst project (“Project”) on property generally bounded by Interstate Highway 20 (Lyndon B. Johnson Freeway), Lancaster Road, and the DART rail line to: (1) increase the City Subsidy by $1,750,000.00 from an amount not to exceed $34,210,966.00 to an amount not to exceed $35,960,966.00 by increasing the economic development grant payable from the City’s Public/Private Partnership Fund (“PPP Grant”) by $1,750,000.00 from an amount not to exceed $2,800,000.00 to an amount not to exceed $4,550,000.00, (2) extend various material dates and deadlines, (3) transfer an amount not to exceed $1,750,000.00 from the Dallas Water Utilities ARPA Redevelopment Fund to the Public/Private Partnership Fund, and (4) make other corresponding modifications, and, in consideration, (5) increase the Developer's minimum investment requirement by $2,000,000.00 from $60,000,000.00 to $62,000,000.00, (6) amend the Minimum Vertical Requirements to require the Developer to prepare and sell an additional 50 sites to third-party builders for the construction of single-family homes, and (7) amend the Minimum Vertical Requirements to require the Developer to construct a community amenity center with a pool (City Council District 8) [Robin Bentley, Assistant City Manager (I); Kevin Spath, Director (I), Office of Economic Development] 24-3648
10. E. Upcoming Agenda Item: Authorize a three-year service contract, with three one-year renewal options, for project underwriting services for the Office of Economic Development - National Council for Community Development, Inc. dba Grow America, most advantageous proposer of two - Total not to exceed $463,635.00 - Financing: General Fund ($139,090.50) and Public Private Partnership Fund ($324,544.50) (subject to annual appropriations) [Kevin Spath, Director (I), Office of Economic Development] 24-3644
11. F. City of Dallas Office of Economic Development Receives Reaccreditation as an Accredited Economic Development Organization [Kevin Spath, (I) Director, Office of Economic Development] 24-3646
12. G. Board of Adjustment Rules of Procedure Amendments [Andreea Udrea, Deputy Director, Planning and Development Department] 24-3647
13. H. Commercial Permits Dashboard Update [Emily Liu, Director, Planning and Development Department] 24-3649
14. 14 ADJOURNMENT