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Agenda - City of Dallas

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Exhibit A<br />

Vickery Meadow TIF District<br />

FY 2010-2011 Annual Report<br />

District Initiatives<br />

Activity Scope Status Investment Source<br />

Regional<br />

Transportation Council<br />

(RTC) Sustainable<br />

Development Program<br />

– Park Lane Light Rail<br />

Station Pedestrian<br />

Overpass<br />

Pedestrian improvements<br />

to extend a platform from<br />

the Park Lane LR Station<br />

to the south side <strong>of</strong> Park<br />

Lane, landscaping and<br />

other enhancements that<br />

also tie into the “Park<br />

Lane” mixed use project<br />

Funding approved by the<br />

RTC on April 13, 2006.<br />

<strong>Dallas</strong> Area Rapid<br />

Transit is the public<br />

sector sponsor for the<br />

project. Project eligible<br />

for funding in 2008; In<br />

2009 Harvest Partners<br />

released the funding and<br />

will not construct the<br />

pedestrian over pass<br />

$1,500,000<br />

total includes:<br />

$1,200,000<br />

$300,000<br />

RTC funds<br />

Private funds<br />

Vickery Meadow<br />

Improvement District<br />

(VMID)– TREC 2006<br />

Community Grant<br />

The Texas Real Estate<br />

Council (TREC) <strong>of</strong> <strong>Dallas</strong><br />

awarded a grant to be<br />

used to create a Planned<br />

Urban Design<br />

(Neighborhood Plan) for<br />

the Vickery Meadow<br />

Community<br />

Organizational stages.<br />

James Harwick+<br />

Partners, Inc.<br />

architectural design firm<br />

was hired to complete<br />

the plan. The plan was<br />

completed in 2009 and<br />

was adopted by the<br />

VMID Executive Board<br />

January 15, 2010.<br />

$78,000 total<br />

Includes:<br />

$50,000<br />

$28,000<br />

TREC <strong>of</strong> <strong>Dallas</strong><br />

VMID funds<br />

The Real Estate<br />

Council Foundation<br />

(TRECF), McCormack,<br />

Baron Salazar (MBS) –<br />

Economic<br />

Development Action<br />

Plans<br />

The Real Estate Council<br />

Foundation and private<br />

donations provided<br />

financial support to<br />

engage McCormack<br />

Baron Salazar to develop<br />

action plans for economic<br />

development in three <strong>City</strong><br />

Council designated areas:<br />

1. Lancaster Corridor<br />

2. South <strong>Dallas</strong>/Fair Park<br />

3. Five Points in Vickery<br />

Meadow<br />

The Development Action<br />

Plans by MBS were<br />

released January 2011.<br />

$750,000 min<br />

Includes:<br />

$275,000<br />

$275,000<br />

$200,000<br />

TRECF <strong>of</strong><br />

<strong>Dallas</strong><br />

MBS<br />

Investment<br />

Private<br />

Donations<br />

HUD Community<br />

Challenge Grant for<br />

Transit Oriented<br />

Development and<br />

Affordable Housing<br />

The <strong>City</strong> <strong>of</strong> <strong>Dallas</strong> was<br />

awarded a $2.225 million<br />

Community Challenge<br />

Planning Grant from HUD<br />

on October 22, 2010.<br />

Grant funds are to be<br />

used for planning and land<br />

acquisition related to<br />

affordable housing and<br />

transit oriented<br />

development near 4 DART<br />

stations including the Park<br />

Lane Station.<br />

Request for Proposals<br />

for the various planning<br />

activities were released<br />

in August 2011. 14<br />

responses were<br />

received and the top 6<br />

proposals will be<br />

interviewed October<br />

2011. <strong>City</strong> Council<br />

consideration <strong>of</strong> a<br />

contract with the<br />

selected consultant(s) is<br />

slated for December<br />

2011.<br />

Grant<br />

Amount:<br />

$2,225,000<br />

Required<br />

Local Match<br />

for Grant:<br />

20%<br />

HUD<br />

TIF Funds<br />

7

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