Agenda - City of Dallas

Exhibit A - Cedars TIF District
FY 2011 Annual Report
Improvements - Street Construction/Streetscape/ Water/Wastewater/Drainage
Improvements/ East-West.
On June 22, 2011, City Council approved resolution 11-1793/Ordinance No.
28279 authorizing an ordinance amending Ordinance Nos. 21492 and 23092,
passed on December 9, 1992 and April 9, 1997, respectively to: extend the term
of the TIF District for a 10 year period from December 31, 2012 through
December 31, 2022; decrease the City of Dallas’ participation after tax year 2012
from 100% to 90%; (3) direct the City Manager to negotiate an increase in Dallas
County’s participation rate after tax year 2012 from 65% to 75% and to execute
an amendment to the Inter-local Agreement between the City of Dallas and
Dallas County to reflect such increase; amend the Cedars TIF Infrastructure
Improvements - Street Construction/Streetscape/Water/Wastewater/Drainage
Improvements/ East-West Corridor Construction budget line item to include
Public Open Spaces and Economic Development Grants; and make
corresponding modifications to the Cedars Project Plan to reflect these
amendments.
On June 22, 2011, City Council approved resolution 11-1794 authorizing a
development agreement with 1400 Belleview GP, LLC., to dedicate existing and
future TIF revenues supporting the development of 1400 Belleview project
located at 1401 Browder Street located in Tax Increment Financing
Reinvestment Zone Four (Cedars TIF District); and the Cedars TIF District Board
of Directors to dedicate up to $1,657,916 from existing and future Cedars TIF
District revenues in accordance with the development agreement.
On June 22, 2011, City Council approved resolution 11-1794 authorizing a
resolution declaring the intent of Tax Increment Financing District Reinvestment
Zone Number Four (Cedars TIF District) to pay 1400 Belleview GP, LLC., for
eligible expenditures pursuant to the development agreement with 1400
Belleview GP, LLC.
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