fy 2012-13 proposed capital improvement budget - City of Dallas

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ECONOMIC DEVELOPMENT PROGRAMS AND INITIATIVES MISSION The Economic Development Capital Improvement Program assists the creation of an adaptive and resilient economy by promoting job growth and increasing the tax base. Bond program projects include infrastructure improvements to protect the existing public and private assets, balance growth in all areas of the City, and adjust historical disparities in development and facilities. The Public/Private Partnership program facilitates private development by offsetting costs such as infrastructure and development fees. The projects for the eighteen tax increment financing districts (TIFs), in which the City participates, provide funding for TIF-eligible improvements within the boundaries of each TIF Reinvestment Zone. HIGHLIGHTED ACCOMPLISHMENTS FOR FY 2011-12 1. Created Tourism Public Improvement District (PID). This new district will generate $10M+ annually to promote Dallas and the Convention industry. 2. Amended Sports Arena TIF District to allow redevelopment of 20+ acres of surface parking and extend area to West Dallas and Riverfront Gateway. 3. Modified By-Laws of all TIF Districts to allow better coordination with City Design Studio and Peer Review Process. 4. Continued progress in Downtown Area with completion of preliminary work on Statler-Hilton, Library, and 1600 Pacific, completed work of Houseman Building and initiated redevelopment of Atmos Phase I (107 apartment units all affordable to low income renters) and Continental Building (203 apartment units with 41 affordable to low/moderate income renters and 3,000 square feet of commercial/retail space). 5. Completed 2 mixed-use projects on Bexar Street in South Dallas Fair Park NIP area: 7 townhomes and 5 commercial/retail spaces in one project and 9 apartments and three commercial/retail spaces in the second. 6. Authorized incentives for Sylvan-Thirty and The Collective projects in Fort Worth Avenue TIF District; Forest City West Village project in Cityplace TIF District; Victory Tier One North Parking Garage in the Sports Arena TIF District; Reel FX in the Deep Ellum TIF District; and Tower Petroleum in the Downtown Connection TIF District. 7. Renewed South Side and Uptown PIDs. 8. Started construction on WalMart Anchored shopping center at I-35 in Southern Dallas. 9. Land Bank acquired 125 lots and sold 75 lots to developers for construction of affordable homes for sale to eligible low- to moderate-income homebuyers. 10. Construction began on a new 1.2 million square foot Home Depot distribution center and reconstruction of portions of Danieldale Road. 11. Entered into a development agreement with ProLogis to build a new 398,000 sf distribution facility in Southeast Dallas. 12. Seefried/USAA-Assisted in the development of a new 157 acre park in Southern Dallas. HIGHLIGHTED OBJECTIVES FOR FY 2012-13 1. Construction of Police Substation on Bexar Street in Neighborhood Investment Program Target Area in South Dallas Greater Fair Park. 2. Finalize plan and begin implementation of revised retail recruitment program for downtown area. 3. Negotiate two new projects in the North Oak Cliff area (Davis Garden, Fort Worth Avenue and Oak Cliff Gateway TIF Districts). 4. Complete Renewal of Deep Ellum and Downtown Public Improvement Districts. 5. Negotiate one additional Transient-Oriented Development (TOD) project. 360
ECONOMIC DEVELOPMENT PROGRAMS AND INITIATIVES 6. Land Bank will acquire 125 lots and sell 75 lots to developers for construction of affordable homes for sale to eligible low- to moderate-income homebuyers. 7. Negotiate one additional project in Parkland area (Southwestern Medical and Maple-Mockingbird TIF Districts). 8. Finalize analysis of redevelopment plans for Bishop Arts Village and consider creation of a new TIF District. 9. Pursue community development and area plan for Paul Quinn College/Highland Hills neighborhood. 10. Acquired property for Lancaster Urban Village (across from VA Hospital on Lancaster) for construction of mixed use TOD project with 193 (98 affordable) apartment units, 13,926 square feet of retail/restaurant/commercial space and a 405 space parking garage. 11. Establish SOURCELINK small business support program in Dallas. 12. Grocery store development in Southeast Dallas. 13. Start vertical construction on Lancaster Urban Village. SERVICE DESCRIPTIONS Acquisition & Demolition Economic development in the Southern area of the city, as well as other areas of the city in connection with transit oriented development, through planning, designing, constructing, improving, extending and expanding public street, utility and other infrastructure facilities, including the acquisition of land therefore, and through funding the city’s programs for economic development including the acquisition of improved and unimproved properties, the demolition of existing structures, making loans and grants of bond proceeds and otherwise providing assistance for private commercial, industrial retail, residential and mixed-use development. Cedars Tax Increment Financing District Initiated in 1992, the Cedars Tax Increment Financing District provides infrastructure improvements in the Cedars area. The TIF will expire in 2022. City Center Tax Increment Financing District Initiated in 1996, the City Center Tax Increment Financing District provides a long-term program to replace and upgrade the area’s infrastructure and create a vibrant downtown core district. The intent of the program is to improve the economics for developing residential property in the downtown core and creating a destination retail district that serves downtown residents and visitors and supporting the office market. The TIF will expire in 2012. Cityplace Area Tax Increment Financing District Initiated in 1992, the Cityplace Area Tax Increment Financing District consists of a program of public improvements intended to stimulate new private investment in the Cityplace neighborhood over a 20-year period. The TIF will expire in 2012 but increment collections are complete for the district. Davis Garden Tax Increment Financing District Initiated in 2007, the Davis Garden Tax Increment Financing District provides a long-term program to replace and upgrade the area’s infrastructure, support redevelopment of structurally obsolete apartment and commercial development in the North Oak Cliff area and create a vibrant mixed-use district in the area southwest of the intersection of Westmoreland Road and I-30. The TIF will expire in 2039. Deep Ellum Tax Increment Financing District Initiated in 2005, the Deep Ellum Tax Increment Financing District provides funding for environmental remediation and infrastructure improvements in the Deep Ellum area. The TIF will expire in 2028. Design District Tax Increment Financing District Initiated in 2005, the Design District Tax Increment Financing District provides funding for environmental remediation and infrastructure improvements in the Design District area. The TIF will expire in 2028. Affordable Housing Land acquisition for the development of low and moderate-income, owner-occupied, single-family homes. These are housing related services and are provided by the Housing Department. 361
Page 1 and 2: FY 2012-13 PROPOSED CAPITAL IMPROVE
Page 3 and 4: FY 2012-13 PROPOSED CAPITAL BUDGET
Page 9 and 10: 2003 GENERAL OBLIGATION BOND PROGRA
Page 11 and 12: AVIATION FACILITIES CAPITAL IMPROVE
Page 19 and 20: CITY FACILITIES CAPITAL IMPROVEMENT
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Page 43 and 44: CULTURAL FACILITIES CAPITAL IMPROVE
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Page 53 and 54: ECONOMIC DEVELOPMENT PROGRAMS AND I
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PARK AND RECREATION CAPITAL IMPROVE
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STREET AND THOROUGHFARE CAPITAL IMP
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TRINITY RIVER CORRIDOR CAPITAL IMPR
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WATER UTILITIES FACILITIES CAPITAL
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WATER UTILITIES CAPITAL IMPROVEMENT
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fy 2012-13 proposed capital improvement budget - City of Dallas

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